Caribbean countries operating a Citizenship by Investment (CBI) programme have underscored the importance of the initiative to their socioeconomic development.
Antigua and Barbuda, Dominica, Grenada, St. Kits-Nevis, St. Lucia all have CBI programmes providing citizenship to foreign nationals, in return for them making a substantial investment in the socioeconomic development of these islands.
In recent years, the initiative has come under intense scrutiny from the United States and the European Union that regard the programme as a tax haven as well as an avenue for criminals to freely move across the globe.
But Caribbean leaders have defended the programme, with Antigua and Barbuda's Prime Minister Gaston Brown saying it offers significant revenues to support much-needed economic diversification and the overall advancement of these micro-states.
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