The United Kingdom’s (UK) Resident High Commissioner to Antigua and Barbuda, Lindsy Thompson has said an abundance of caution over the potential for Citizenship By Investment (CBI) and Residency By Investment (RBI) programmes to be abused is the primary reason for the coming review of these initiatives in the English-speaking Caribbean.
Speaking specifically of the RBI offered by some countries in the region, Thompson explained that the UK recently shut down their version of that programme after several security issues were identified which had the potential to threaten the country’s immigration system.
“We constantly review our immigration system, and we were not satisfied that that route to residency was secure enough. There was a potential for misuse.
“Now, when you have gone through that experience, it naturally makes you look at all the other routes that people can enter the UK…” she explained.
As restrictions associated with the pandemic relaxed, the Antigua and Barbuda government sought to capitalise on the remote workplace culture that was embraced by companies around the world. The virtual commute meant that businesses who were able to capitalise on technology could resume business while employees had the ability to work from anywhere in the world.
Under the RBI programme, for an economic contribution, applicants who successfully cleared the due diligence process would have the ability to live and work in Antigua and Barbuda.
It was viewed as an alternative that would attract high net worth individuals to the country who could then live, work and contribute to the local economy without the commitment, cost and permanency of citizenship.
Thompson, however, said the UK had concerns about the system, and its impact on the CBI, as people unqualified to enter the UK otherwise may seek out “high value passports” like Antigua and Barbuda’s to gain VISA free access to the country.
The European Union (EU) and Canada have both also expressed concerns over CBI programmes in the region.
In the case of Canada, VISA free access was revoked for several countries while others must apply for pre-approval to enter.
The EU has threatened to take similar action.
This would be devastating to the nations in the region which offer CBIs as the strength of a passport is determined by how many nations it has VISA free access to.
Despite their small size, many English-speaking Caribbean nations have incredibly powerful passports with many offering VISA free travel to at least 150 of the more than 190 nations which are ranked by the Henley Index annually.
In Antigua and Barbuda, the CBI is a significant revenue generator which has powered successive governments’ ability to undertake major developments across a plethora of industries. This in turn has had far-reaching socioeconomic benefits for the country and its people.
Thomson said the UK’s intention is not to cripple the island nations it will conduct reviews on, but to ensure the safety of their programmes.
She made it clear, however, that the possibility of future VISA restrictions could not be excluded.
“What we are looking to see is where are the risks,” Thompson said.
“The UK is looking at these schemes on a whole, on a global basis. I can’t promise that we won’t apply VISA regimes to countries where there are concerns.
“We have, just like any other nation, like Antigua and Barbuda, to protect our borders, and where we see there are risks and a sufficient threat, then obviously, we are obliged to our citizens to take those measures.”
Toward the end of January, it was disclosed that the high commissioner had held meetings with Prime Minister Gaston Browne and the head of the Citizenship by Investment Unit (CIU), Charmaine Quinland-Donovan.
Since that meeting, it was disclosed that Quinland-Donovan has also met with the Cabinet of Antigua and Barbuda to further discuss this burgeoning issue and others related to the CBI.
