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PM Skerrit advised to take EU CIP threat CBI seriously

Dominica’s PM Roosevelt Skerrit, is among Caribbean leaders, who are being advised to take pronouncements by the European Union (EU) about ending Citizenship by Investment Programs (CIP) in the Caribbean seriously.

Read Caribbean CIP could be under threat from EU proposal

Dominica, and other countries selling citizenship look set to be given an ultimatum by the EU – to end their CIP or face visa restrictions.

The EU Parliament voted to ask the Commission to formulate a strategy to eventually request CBI programs be phased out in Dominica and all other countries offering citizenship by investment.

In essence, these countries could be given ultimatum by the EU, to end their Citizenship by Investment Program or face visa restrictions.

Nuri Katz , President for Apex Capital Partners, a licensed agent throughout the world for CIP, said although any such move could take a while, regional leaders should take it very seriously.

“I certainly think the CIP countries should worry about it. I believe that the EU is worried about how rigorous the due diligence is being done on candidates receiving citizenship. I’ve always said that due diligence is the best known to man,” he added.

He said Dominica and other countries offering CIP should begin to rally around the stakeholders in the industry.

“They need to begin to develop strategies to try to work with the EU to fashion a response that will allow the CIP countries to maintain the programs and the visa free travel to Europe,” he added.

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He said action must be taken now, agreeing that any such move could seriously hurt the economies of the countries, whose economies rely largely on the sale of passports for investments.

PM Skerrit among Caribbean leaders advised to take EU threat of ending CBI seriously  Dominica News Online

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