PM Warns Against Major Countries Stifling CIP

991

Thursday 21st June, 2018 –Prime Minister Gaston Browne attending the Global Investment Immigration Summit has again called out major countries for denying other nations the right to operate Citizenship by Investment Programmes.

Addressing participants at the summit taking place in London, Mr. Browne said for decades countries to include England, the US and Australia have operated CIPs, and while it is their sovereign right so to do, he takes umbrage to some of those very nations who are seeking to deny other countries the right to operate such programmes in competition with them.

The reason Prime Minister Browne said “many of the richer countries of the world started these programmes, and still operates them, is because they bring-in revenues and employment to their economies. They also facilitate the transfer of technology and skills to these countries.”

He noted it is the same reason that smaller countries, such as his, started them. “But, it appears that there are some governments that are so accustomed to controlling and benefitting disproportionately from the international economic and financial system, that they abhor competition from others.”

Mr. Browne cautioned that “shortly, the industry – in which ever country it exists – will have to be prepared to face-up to intrusions from the EU Commission and the OECD, as they try to stifle it by allegations of tax evasion and to strangle it by demands for new rules.”

He said “it would be best if all the jurisdictions combine their efforts and resources to meet the approaching challenges. No one jurisdiction can withstand the grinding juggernaut of the EU Commission and the OECD alone, but an alliance of jurisdictions, determined to argue their case and to bargain jointly, have a better chance.”

The prime minister detailed that “the growth of the global migration industry represents an immense opportunity for global interconnectedness and can serve as a bridge to the geographic, racial and ethnic divides that impede our collective advancement as peoples of the world and stymie our enhanced understanding of interdependence.

However, the continuing growth of citizenship by investment programs should not be taken for granted.”

He made a pitch to those attending the summit, telling them his government is “determined to bring the greatest levels of creativity to the management of our CIP program in delivering good investor value to our citizens and that there are many new initiatives added to our Citizenship by Investment programme to include; a two for one, related party transaction for the real estate and business options.”

Additionally, he noted “the National Development Fund option at US$140K including fees, for a family of four – is the absolute best value for money investment option available in the market. We therefore, invite you to consider Antigua & Barbuda as your first and best Citizen by investment option.”