Friday 18th May, 2018 –Prime Minister Gaston Browne has defended the Citizenship by Investment Programme in the face of criticism from powerful nations.
Addressing the 2018 Caribbean Investment Summit in St. Kitts, Prime Minister Browne maintained that revenue from the creation of such programmes play an important role in the socio economic development of countries within the region and is not a desperate bid to get money at any cost.
The Antiguan and Barbudan head of government says they are acutely aware of the importance of protecting the integrity of passports and there is no compromise on the part of governments.
Mr. Browne declared that the CIP is treated as an industry, one that demonstrates global responsibility and accountability. Therefore, regulations are strict. He says addressing tax evasion, tax avoidance and vetting procedures for applicants is a continuous process.
This week, Cabinet added a fourth option to the Citizenship by Investment Programme, the proceeds of which is expected to fund the fourth landed campus of the University of the West Indies at Five Islands.
The fourth option will be the sum of US $ 150,000 per file.
Legislative changes are expected to be made to the CIP law before the fourth option is applied.