• Obtaining the Turkish Citizenship Through Investment
    Obtaining the Turkish Citizenship Through Investment

    The Turkish Citizenship Law, number 5901, enables foreign investors to obtain Turkish Citizenship exceptionally provided that they meet the following conditions: a) to make a fixed capital investment worth minimum 500.000 USD, equivalent foreign currency or equivalent amount of TL. b) to purchase real estate worth minimum 250.000 USD, equivalent foreign currency or equivalent amount of TL, to put an annotation onto the title deed stating that property shall not be sold in the following three years and to have the investment determined by the Ministry of Environment and Urbanism. c) to sign preliminary sales contract intended for the real estate, which has construction servitude or condominium registration, worth minimum 250.000 USD, equivalent foreign currency or equivalent amount of TL and to make the such payment in advance, to put an annotation states that preliminary sales contract shall not be transferred or abandoned for the following three years onto the title deed and to have the investment determined by the Ministry of Environment and Urbanism. d) to employ a minimum of fifty employees and have such employment determined by the Ministry of Family, Labor and Social Services. e) to deposit minimum USD 500.000 USD, equivalent foreign currency or the equal amount of TL in banks operating in Turkey and to undertake not to withdraw the deposit for the following three years and to have such barred deposit determined by the Banking Regulation and Supervision Agency. f) to purchase public borrowing instruments worth minimum USD 500.000 USD, equivalent foreign currency or the equal amount of TL and to undertake to keep the instruments for following three years and for having the investment determined by the Ministry of Treasury and Finance. g) to purchase real estate investment trust or venture capital fund shares worth minimum 500.000 USD, equivalent foreign currency or the equal amount of TL and to undertake to keep the instruments for following three years and for having the investment determined by the Ministry of Treasury and Finance, Ministry of Interior, General Directorate of Civil Registration and Citizenship has published Instruction of Procedures and Principles Regarding Acquisition of Turkish Citizenship by Foreign Investors ("Instruction") which regulates the process of the application. The Instruction foresees that private/joint offices shall be established in Ankara and Istanbul. Officers of General Directorate of Civil Registration and Citizenship, General Directorate of Migration Management and Determination Institutions shall provide the services in conjunction. Applicants completed the investment according to the Regulation, shall apply for Certificate of Conformity to the Determination Institutions. Obtaining the Certificate of Conformity allows the applicants to apply for citizenship and residency permit referred to in article 31/j of the Law on Foreigners and International Protection No:6458 with joint documents. Application for Citizenship shall be made to the Exclusive/Joint Offices with granted residency permit and required certificates for Citizenship. Required documents are as follows: Applicant's passport as translated and notarized. (should cover ID information, photograph and all the pages of entrances and leaves) In case of statelessness, documents which certify statelessness (As translated, notarized and authorized by the Turkish Consulate or by Apostille) Birth Certificate or any official document covers the applicant's birth date/birthplace/parents' name information such as identity register copy. (As translated, notarized and authorized by the Turkish Consulate or by Apostille) In the event of lack of birth date information; signed declaration to recognize Turkish Civil Registry Services Act's authorization) Certificate states applicant's civil status such as married, divorced or widowed: Marriage Certificate, Divorce Certificate, Death Certificate. (As translated, notarized and authorized by the Turkish Consulate or by Apostille) If the applicant is married; identity register copy or similar document proves the family bond of spouse and children (As translated, notarized and authorized by the Turkish Consulate or Apostille) If the child is in the guardianship of one parent; document states consent of the other parent as translated and notarized/certified by the authorized officer in Turkey, or document states consent of the other parent admitted from foreign representative offices/authorized institutions as translated, approved and licensed by the Turkish Consulate/Apostille Criminal record (in case of request) Six biometric photos (must be taken within the last six months, regulated by ICAO, 50x60 mm size, white background, without pattern) Receipt of Application Fee Health Insurance The Certificate of Conformity Certificate of Conformity granted by the pertinent Authority is required to complete the application file as a determination of the investment. In the acquisition of Turkish Citizenship through real estate purchase procedure, an application to authorized Directorate of Land Registry which is related to the Ministry of Environment and Urbanization shall be made to obtain a Certificate of Conformity. This document purports to indicate that the monetary value of the real estate purchase has exceeded the threshold figure of 250.000USD, and a record has been entered into land registry record stating that the ownership status shall not change for a period of three years. In acquisition of Turkish Citizenship through bank deposit, an application to Department of Financial Consumer Relations of the Banking Regulatory Authority, shall be made to obtain a Certificate of Conformity purports to indicate that, 500.000 USD or equivalent amount of other currencies have already been deposited at a bank operating in Turkey and a record has been entered into the bank account inhibiting the withdrawal of the money for a period of three years. Foreign investors who had been granted with the Turkish Citizenship should meet abovementioned requirements for the duration which has stated in the Regulation. In case the investor fails to maintain such conditions, determination institutions would notify General Directorate of Civil Registration and Citizenship and General Directorate of Migration Management. Subsequently, citizenship status shall be revoked following article 31 of the Law. The content of this article is intended to provide a general guide to the Turkish program. Specialist advice from Alan and Partners should be sought to help you in deciding on your best available option.

  • Business Opportunities in Saint Kitts and Nevis
    Business Opportunities in Saint Kitts and Nevis

    The Caribbean paradise of Saint Kitts and Nevis ticks all the boxes when planning an idyllic trip abroad, but it also could provide you with the perfect destination to move to full time. As well as offering an enviable lifestyle, the dual-island nation is an ideal landscape for budding entrepreneurs. The country’s already-healthy economy is expected to grow by 3.2% GDP in 2019, and there are plenty of booming industries set to become even more important to its 56,000-strong population. Anyone thinking about turning their business idea into a reality should certainly consider the many opportunities the country has to offer. SAINT KITTS AND NEVIS STRONGEST BUSINESS SECTORS Perhaps the most notable industry in St. Kitts and Nevis is, unsurprisingly, tourism. The scenic islands attracted almost 150,000 visitors by plane in 2018, as well as a 15.3% increase in air arrivals through the first two months of 2019 alone. 2018 also saw over 1 million cruise passengers make their way to the islands. The country’s popularity as a holiday hotspot made the tourism sector the main contributor to St. Kitts and Nevis’ overall economic growth in that year, with hotels and restaurants performing particularly well. Several popular US airlines like Delta and United Airlines recently upped the number of direct flights to the destination, suggesting that the industry might be about to grow even more. St. Kitts and Nevis’ manufacturing sector is also thriving, and the government expects further growth during 2019. The islands have been the primary exporter within the Organisation of Eastern Caribbean States (OECS) over the last decade, with its top international exports including electronic materials such as broadcasting equipment and electrical resistors. The government plans to make further improvements through its National Manufacturing Strategy, which aims to enhance productivity and boost its global market share. They intend to support this by finalizing a preferential trade agreement with Brazil called the Partial Scope Agreement. With a promising future ahead, it would certainly pay to do business within the manufacturing sector. Another flourishing industry is agriculture, particularly in the cultivation of onions, pineapples, and watermelons. Food production in St. Kitts and Nevis experienced a 22.5% year-on-year increase in 2017, and the country has also received financial support from Taiwan, to improve efficiency in its fruit and vegetable sector. Additionally, the nation is undergoing a construction boom thanks to the extensive work being done on many of its luxury hotels, as well as a second cruise pier. The Ritz Carlton hotel chain is also building a luxury resort scheduled to open in 2021. HOW TO START A BUSINESS IN SAINT KITTS AND NEVIS? Establishing a company in St. Kitts and Nevis is easier for citizens. However, it’s possible to gain the same rights by applying to join the nation’s citizenship by investment program. This scheme, which started in 1984, is the oldest of its kind, providing applicants with a St. Kitts and Nevis citizenship in exchange for financial investment. Applicants may make a donation to the country’s Sustainable Growth Fund, which is used to pay for infrastructural projects within the education, healthcare, and other sectors. Alternatively, they can make a contribution to the Sugar Industry Diversification Foundation, investing in SMEs to develop economic growth away from the sugarcane industry. Or, they can buy government-approved real estate. There’s an Accelerated Application Process feature in place that allows successful applicants to receive a St. Kitts and Nevis citizenship and passport within 60 days, and have the right to live and work in the country. Non-citizens will need to submit their business proposal to the government, ideally following a visit to the Inland Revenue Department which determines the taxes and licenses they’ll be liable for. They must also provide a fiscal incentives application, work permits for all employees, an Alien Landholding License, and an application to lease or rent the building they plan to work from. All company names must be registered, and licenses applied for, through the Ministry of Finance. New business owners might even be able to take advantage of government financial aid. The Fresh Start Program helps fund the growth of startups and SMEs and has already invested over £25 million to assist more than 500 companies. Small businesses will also soon have access to a £2.3 million funding pool, as a result of the CARICOM Development Fund signed a concessional loan agreement with the government. This aims to help entrepreneurs access technical and financial assistance while improving competitiveness, creativity, and capacity. Women and youth-based startups will benefit most, as well as companies in light manufacturing, agriculture, tourism, sustainability, and infrastructure.

  • Considering a Move to the Coast? Two Places You Should Think About
    Considering a Move to the Coast? Two Places You Should Think About

    Very few things are as relaxing and rejuvenating as being beside the seaside. Packing up your life and moving someplace five minutes from the beach, where the sun is always shining, sounds like bliss. That’s before even mentioning the health benefits of living by the sea, such as reducing stress and improving blood pressure. From both a lifestyle and health point of view, relocating to the coast can be a no-brainer. If you’re seriously deliberating the idea of doing so—and who can blame you? —it can be difficult to decide where to move. With business opportunities, language barriers, and cost of living to consider, the choice can be extremely tricky. Here are three of our recommended coastal hotspots. 1.Castries – Saint Lucia Life doesn’t get more idyllic than the Caribbean island of St Lucia. Widely regarded as one of the region’s best destinations, the country attracted a record 1.2 million visitors in 2018. With English as its official language, there’s also little risk of things being lost in translation. Arguably the best place to live on the island is Castries, St Lucia’s capital. Not only does the city boast all of the amenities you’d expect from a capital city, but it’s surrounded by the beautiful landscapes of Vigie and La Toc beaches on its north and south sides, respectively. It is also affordable, offering a cheaper cost of living than other major cities around the world. For instance, Castries comes in at 38% more affordable than London and is roughly 41% cheaper than New York. Real estate is also responsible for the increasing business opportunities in the city, with St. Lucia recently named ‘Best Caribbean Island to Invest’ by the European Business Magazine. One of the island’s primary real estate agents recently stated that 70% of its business is from international investors, many of whom contributed via St Lucia’s citizenship by investment program. This enables participants to put money into real estate in return for a St. Lucian citizenship. As well as real estate, those interested in contributing to St. Lucia’s economy through CBI can pay into the country’s economic fund, enterprise projects, or government bonds. A holder of St. Lucian passport can visit approximately 150 countries and territories without a visa or by acquiring one upon arrival. 2.Algarve – Portugal On the other side of the world, the Algarve on Portugal’s south coast is known for its 3,300 annual hours of sunshine and array of beautiful beaches. One of Europe’s most popular coastal destinations, it attracted a remarkable 4.2 million visitors in 2018. Look no further than the cities of Faro, Portimão, and Albufeira as potential places to relocate, with each named in the top 25 best cities in Portugal to live and invest in by Bloom Consulting’s Portugal City Brand Ranking 2019. The Algarve offers a conducive investment environment, and its real estate market is in particularly good shape, with prime property prices increasing by 6.5% in 2017 year-on-year. The Algarve also has a huge expat community, as well as strong historical and cultural links to England, making English a widely spoken language in the area. It is also exceptionally affordable, with monthly rent starting from about €300 and many apartments in the €400-700 range.

  • Government Establishes National Economic Fund and Strengthens
    Government Establishes National Economic Fund and Strengthens

    Prime Minister and Minister for Finance, Honourable Allen Michael Chastanet, introduced before the House early on a Bill to establish the Saint Lucia National Economic Fund and strengthen oversight over the management of Citizenship by Investment funds. This means that the Government has corrected gross inadequacies in the legislation governing the use of CIP funds, which was passed by the former administration. As he presented the Bill, the Prime Minister explained that presently, the Citizenship by Investment Act passed in 2015 establishes the Saint Lucia National Economic Fund (the Fund), however, the present administration felt it necessary to strengthen legislation as the Fund operates outside of the Consolidated Fund. The Prime Minister noted there are issues relating to governance, transparency, and accountability that must be addressed. The part of the legislation that dealt with the establishment of the Economic Fund under the CIP Act, passed by the former administration, was all but three lines. The Bill will establish the Saint Lucia National Economic Fund Board which will include: The Director of Finance as Chairperson, the Budget Director, the Chief Economist, a representative from Invest Saint Lucia, a representative from the Ministry of Commerce, a representative from the Attorney General’s Chambers and a representative from the private sector. The Board is expected to manage monies and the business of the Fund; consider and approve an application for a loan or an investment in a Government approved capital project; monitor the use of the loan and ensure repayment of the loan, create and maintain a Sinking Fund and carry out other functions required for the proper functioning of the Fund. The Prime Minister explained that the Bill also laid out clear application procedures for obtaining loans and investments from the Fund. The Board will also have to submit independent auditor’s reports and annual reports. The Prime Minister clearly explained to the House that while the legislation for the Economic Fund was being developed the Government followed good governance practices and CIP contributions for the last few years were being put into the Consolidated Fund and managed by the Ministry of Finance. In his rebuttal, the Prime Minister pointed out page by page, how the CIP funds had been used and where it could be found the line by line in the Estimates of Revenue and Expenditure. The Prime Minister added that the current National Economic Fund Bill passed on Tuesday makes the process for the use of CIP funds transparent and accountable.

  • Saint Kitts Defends Citizenship By Investment
    Saint Kitts Defends Citizenship By Investment

    Prime Minister Dr. Timothy Harris has vigorously defended his Government’s administration of St Kitts and Nevis’ Citizenship by Investment (CBI) program which is being scrutinized by two European Parliamentarians. He is adamant that his Team Unity administration oversees “the best citizenship by investment program in the world”. In a letter dated May 10, 2019, members of the European Parliament Ana Gomes and Marietje Schaake wrote to the European Union (EU) Commission, the President of the European Council and other top EU officials, calling for the termination of the visa-free status afforded to St Kitts and Nevis’ citizens. They cited cases of “questionable” individuals getting passports under the CBI program, which has been in place for 35 years. “We urge you to consider terminating the visa-free status program with Saint Kitts and Nevis unless their authorities can provide full confidence that individuals…are not slipping through the cracks, allowing them access to the European Union,” they wrote. However, at a press conference on Wednesday, Prime Minister Harris said the situations mentioned by Gomes and Schaake all occurred under the previous administration led by Dr. Denzil Douglas, and the arguments on which they had based their recommendations were “basically false, fake news, nothing of the current reality with respect to our program”. He said that since taking office in 2015, his Government undertook a comprehensive overhaul of the CBI program, which led to it “receiving international accolades and being labeled as the platinum standard of the citizenship industry”. “My Government is satisfied that the significant reforms, which have been made to the CBI program since our coming to office, our high level of cooperation with our international partners, and the excellent quality of our due diligence have transformed our program into an international leader amongst all programs. We regret that our predecessors had not exercised the proper due care and attention. We inherited serious problems in 2015, but we have since consecrated that history, and we now have the best CBI program in the world. We are open, transparent and democratic, and our program provides the global platinum standard for its safety and security,” Harris said. “Our due diligence is one of the best. It is multi-layered and multifaceted, using international firms and agencies.” The Kittitian leader said his Government was therefore very disappointed in the European Parliamentarians’ letter requesting “scrutiny of our program without a scintilla of evidence of any wrongdoing by anyone in our program, and by relying on misdeeds of the former Douglas regime and the inaccurate claim that a Russian citizen of interest to law enforcement agencies was an economic citizen of St. Kitts and Nevis since 2014”. Harris was referring to the claim by the MPs that Andrei Pavlov, a Russian suspected of being involved in the 2009 murder of Russian auditor Sergei Magnitsky, had obtained a St Kitts and Nevis passport under the CBI. However, although he admitted to making inquiries, Pavlov said he had not gone ahead with the application. The Government also confirmed that the Russian never had St Kitts and Nevis citizenship. “The instances which they quoted were instances related to a regime which had long passed,” Harris said. “It is not a good reflection of the reliability and seriousness of members of the European Parliament that they should seek punitive action against any entity without giving the accused the benefit of due process and natural justice and without regard for the consequences of their ill-informed letter, not just for the viability of the CBI program of St Kitts and Nevis but also for the wider Caribbean. We, therefore, call on those two MPs…to recall their letters and to apologize to our people,” Prime Minister Harris said.

  • Plans to Enact Uniform Legislation for Citizenship By Investment
    Plans to Enact Uniform Legislation for Citizenship By Investment

    Organisation of Eastern Caribbean States (OECS) member states are working on implementing measures that they say will allow for a more unified Citizenship by Investment Program within the region. Already, they have commenced talks about having uniformed application forms and the setting up of an oversight committee that would audit all programs and according to prime minister Roosevelt Skerrit, Dominica and the other OECS countries, have agreed to establish uniform legislation for that purpose. “In respect to the CIP/CBI, in addition to agreeing on moving with uniform legislation, uniform application forms and the setting up of the oversight committee which would assist in auditing our program, reviewing our program from time-to-time and making recommendations on how to continue to strengthen our program,” he said. Skerrit said plans are also underway to provide Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) training for staff at the various CIP units. “We want them to be trained and certified. We believe that would it is an important component of good governance, especially with financial transactions” he added. He said these measures would not only strengthen the CIP in the region but also help to dispel a lot of the criticisms of the program in the region. The CIP has been a significant revenue earner for several Caribbean islands. It allows people to become citizens by investing in a country. However, the program has come under serious fire lately after several businesspeople holding passports under the program have been fingered in allegations of corruption. Meantime OECS Prime Ministers have signaled their intention for the establishment of a trust fund to finance the Eastern Caribbean Supreme Court. Skerrit told reporters at the end of an OECS meeting in Antigua that it will be similar to what exists with the Caribbean Court of Justice or CCJ. The CCJ is funded through an independent Caribbean Court of Justice Trust Fund. … The income from the Fund is expected to finance the expenditures of the Court (remuneration of judges and other employees, operation of the Court) in perpetuity. “We have asked for a simplified approach to this in terms of reporting back to us, in terms of what is required to finance the court in the medium to long term,” he said. Skerrit was speaking during the 4th Meeting of the OECS   Assembly held in Antigua this week. Chief Justice of the Eastern Caribbean Supreme Court, Justice Janice Pereira has over the years spoken on the finances facing the Court even as there are more pressures to deliver additional services to the people of the region. She said the allotment for the operation of the Court coming from the individual member countries’ national budgets is too low and that the financial woes are compounded by late and sometimes short payments of these allotments. The ECSC serves the islands of Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Anguilla, British Virgin Islands, and Montserrat.

  • Saint Kitts and Nevis’s Strongest Business Sectors
    Saint Kitts and Nevis’s Strongest Business Sectors

    Perhaps the most notable industry in Saint Kitts and Nevis is, unsurprisingly, tourism. The scenic islands attracted almost 150,000 visitors by plane in 2018, as well as a 15.3% increase in air arrivals through the first two months of 2019 alone. 2018 also saw over 1 million cruise passengers make their way to the islands. The country’s popularity as a holiday hotspot made the tourism sector the main contributor to St. Kitts and Nevis’ overall economic growth in that year, with hotels and restaurants performing particularly well. Several popular US airlines like Delta and United Airlines recently upped the number of direct flights to the destination, suggesting that the industry might be about to grow even more. Saint Kitts and Nevis’ manufacturing sector is also thriving, and the government expects further growth during 2019. The islands have been the primary exporter within the Organisation of Eastern Caribbean States (OECS) over the last decade, with its top international exports including electronic materials such as broadcasting equipment and electrical resistors. The government plans to make further improvements through its National Manufacturing Strategy, which aims to enhance productivity and boost its global market share. They intend to support this by finalizing a preferential trade agreement with Brazil called the Partial Scope Agreement. With a promising future ahead, it would certainly pay to do business within the manufacturing sector. Another flourishing industry is agriculture, particularly in the cultivation of onions, pineapples, and watermelons. Food production in Saint Kitts and Nevis experienced a 22.5% year-on-year increase in 2017, and the country has also received financial support from Taiwan, to improve efficiency in its fruit and vegetable sector. Additionally, the nation is undergoing a construction boom thanks to the extensive work being done on many of its luxury hotels, as well as a second cruise pier. The Ritz Carlton hotel chain is also building a luxury resort scheduled to open in 2021.

  • Saint Kitts and Nevis PM Underscores CBI Significance
    Saint Kitts and Nevis PM Underscores CBI Significance

    Addressing some 400 stakeholders at the global Citizenship by Investment (CBI) industry, in St Kitts and Nevis (Thursday, June 20, 2019) Prime Minister Dr. Timothy Harris said, 'the socio-economic empowerment and the improvement in the quality of life for all our citizens should remain the lifeblood and calling of each of our [CBI] programs.' He noted that, the CBI industry contributes significantly to government revenue in St Kitts and Nevis, as well as in 'other member states of our sub-region like Dominica, Antigua and Barbuda, Grenada and Saint Lucia to a lesser extent,' and that 'ultimately, the measure of success of CBI programs is indicated by the extent to which countries are able to convert CBI revenue inflows into 'real, sustained and meaningful improvements in the lives of our people and in the overall development of our island nations.' 'Our policies, pricing strategies and even our discourse about Citizenship by Investment must always emphasize the inextricable link between successful applicants to our programs and the observable, actual development in and around our countries. Across our region, we see the positive impacts our Citizenship by Investment Programs make on construction, job creation, hotel stock, housing stock, social safety nets. The country's landscape has been transformed, as construction is a major driver of economic growth' Harris claimed. Meantime highlighting that, 'The build-out of the Four Seasons Residences, Ramada, Wyndham and Park Hyatt all owe their progress and success to the CBI program here in St Kitts and Nevis,' noting, 'These transformations, made possible by the careful management of our citizenship programs, are the ultimate purpose of CBI in our region. It is a lesson we can hardly remind ourselves of too much,' he said. However, Harris, wittingly or unwitting skipped the view that is more evident than not, in that, Embassy Suites international hotel brand appearing on a resort on the coastline remains unfinished; and the Radisson, the Six Senses and Ritz-Carlton brands have also eluded the Team Unity government. According to Harris, 'Innovations under its CBI Program – the Hurricane Relief Fund (which preceded the Sustainable Growth Fund) – noting, 'Since the fund was established in October 2017, its proceeds have improved the quality of life of over 2,000 households through the government's hurricane repair housing assistance program.' Harris' Team Unity administration alludes to the incredible success of St Kitts, and Nevis' CBI program has provided the fiscal space to pay a double salary in December for the last three consecutive years and to introduce the $500-monthly poverty alleviation program; however, the economic impact is marginal and not reflective on the broader cross-section of the country. That comparison is evident, taking into consideration Dominica and Antigua and Barbuda's efficiency, leadership, management, and economic development that CBI requires; hitherto Harris proclaims, 'Today our CBI program is still the oldest and best program. Our experiences over the last 35 years and particularly in the last 5-10 years have underscored the crucial importance of 'building resilience' for our citizenship programs across the Caribbean.' 'We must meet the challenges and opportunities of the next three decades of Caribbean CBI with (i) the vision and foresight of the architects of our regional industry; (ii) even greater ingenuity, imagination and innovation; and above all (iii) the leadership and resolve to execute the blueprint for this industry over the coming years,' he said. Harris continued: 'It is on the firm grounds of ethical leadership that we should pronounce clearly that as a region: (i) we will always maintain the strongest and most robust due diligence program in the world; (ii) we will cooperate with all nations and entities, in particular the USA, Canada, the EU, Interpol, JRCC; and (iii) we will never condone wrong or become a haven to illicit actors. We want persons not just of high net worth but of high integrity and excellent character to become part of our citizenry.' Nevertheless, the Caribbean Investment Summit 2019 that brought together CBI industry professionals and experts from June 19-21 with the aim of better facilitating knowledge transfer regarding industry best practices, critical trends and business insights, is an ideal opportunity for a comprehensive, sustainable and inclusive approach to a sectoral plan that impact economic development and growth in the region. However, there exists a vacuum for multilateral partners in structuring and financing of public housing programs, infrastructure development and the optimal use of CBI funds and ordinary capital towards economic sustainability.

  • Antigua and Barbuda: Is It Right?
    Antigua and Barbuda: Is It Right?

     Antigua & Barbuda sets great store on the due diligence it claims to carry out before issuing a passport to a foreign national. The Government of Antigua & Barbuda and its Citizenship by Investment Agency strenuously declare this to be the case. They claim that Antigua & Barbuda passports are only issued after a substantial investment in Antigua or Barbuda is made by an applicant and following the most thorough and stringent checks of eligibility and suitability is performed by the tiny independent dual nation. So why do people NEED a second passport? The answer is very few do NEED one. Such need could arise to escape persecution, or because their nation state refuses to issue one to them. Some claim the NEED arises to facilitate diplomatic assignments. However, the reality for the great majority of the applicants is one of choice. People WANT a second passport. They WANT to disguise the fact that they have an original passport and they WANT a second identity. AND, they are willing to pay well for it. For most, it is to avoid taxation, launder money or hide other forms of criminality. Consequently, it places great responsibility on countries and nations that choose to sell their most precious asset their sovereignty to non-nationals. The justification used by some nations that this is intended to encourage inward investment and support their own socio-economic growth. Should this, however, be done at the expense of other global citizens? The issue hinges on the values that define responsibility. Given Antigua & Barbuda's well-documented history of malfeasance, is it a fit and proper jurisdiction on which other responsible nations can rely when it comes to the critical issue of their own security as reflected in travel docume? Is this a country whose government adheres to international standards of best practise and acts in good faith, while respecting its own Constitution and system of Laws? What current examples of international behaviour can be offered for evaluation of this country's judgment of its responsibility to the community of nations? Is that judgment based on what is right? Is it right that a growing number of "new citizens" are being shielded from extradition to their original nation states, to face indictments on a variety of financial charges? Is it right for a country to use the power of eminent domain in a manner that subverts accepted international standards to seize the assets of one foreign investor (as has been the case with the Half Moon Bay Resort) in order to sell them to another foreign investor? Is it right for country to further crown its actions by twelve years of systematic refusal to pay compensation for such "compulsory acquisition," in breach of its own Constitution and in defiance of a court order made by the Privy Council, the highest court in the Eastern Caribbean Jurisdiction? Is it right that, in the meantime, this country has sold the unpaid-for property to a developer from another country (a country that has already withdrawn its own automatic entry to bearers of Antiguan passports), and is working with this entity to sell passports to applicants from Russia, China, the Middle East and North Africa as part of a massive and expensive real estate development on expropriated and unpaid-for land ? Is this a scenario for international security that inspires confidence?