Formal Investigation Launched into Administration of Citizenship By Investment Program

Basseterre, St. Kitts –

Background

The Director of Public Prosecutions’ Office (DPPO) has announced a formal investigation into the administration of the Citizenship By Investment (CBI) program prior to the significant reforms implemented by the current Federal Administration.

Investigation Details

The DPPO emphasizes the importance of ensuring a fair and independent inquiry, particularly in light of the potential political implications of the investigation. The DPPO has received assurances from the Federal Administration that they will fully support an independent and impartial process, allowing the investigation to proceed.

The DPPO plans to appoint a Special Prosecutor from a foreign jurisdiction to lead the inquiry, with the assistance of a team of outside investigators. At least one local investigator, in whom the DPPO has full confidence, will also be part of the investigative team to ensure collaboration and local oversight.

About the Citizenship By Investment Program

The Citizenship By Investment program, established as the oldest of its kind globally, allows individuals to obtain citizenship through significant financial contributions or investments in government-approved real estate or development projects. Currently, the program requires a minimum donation of $250,000 USD or a minimum investment of $400,000 USD.

Concerns Raised

In recent years, concerns have been raised about the administration of the program prior to the recent reforms, including issues of underselling citizenships, transparency, and financial accountability.

Conclusion

The DPPO’s formal investigation aims to shed light on the administration of the Citizenship By Investment program and ensure that the necessary measures are taken to rectify any issues that may have arisen. The results of the investigation will be shared publicly once completed.

FAQs

Q: Why is the DPPO investigating the Citizenship By Investment program?

A: The DPPO is investigating the Citizenship By Investment program to ensure a fair and independent inquiry into the administration of the program prior to the significant reforms implemented by the current Federal Administration.

Q: Who will be involved in the investigation?

A: The DPPO will appoint a Special Prosecutor from a foreign jurisdiction to lead the inquiry, with the assistance of a team of outside investigators. At least one local investigator will also be part of the investigative team to ensure collaboration and local oversight.

Q: What are the requirements for the Citizenship By Investment program?

A: The program requires a minimum donation of $250,000 USD or a minimum investment of $400,000 USD.