Jamaica is forging ahead with plans to offer economic citizenship, well placed government sources have revealed.
The revelation comes less than a year after Transport, Works and Housing Minister Dr Omar Davies said in parliament that the government is to undertake a review of applicable laws and procedures in light of possible requests from Chinese investors for citizenship through investment.
Jamaica Trade and Invest (JAMPRO) has completed a concept paper on the matter, and the document has been shared with the National Security Ministry, informed sources have revealed.
If Jamaica embarks on a citizenship for investment programme, passports would be exchanged for funds in major developmental projects in the country.
Caribbean territories St Kitts and Nevis, Antigua, Dominica and Grenada have establish citizenship by investment programmes, and St Vincent and St Lucia are actively considering the model.
“The time has arrived for us to examine the case for defining and broadening the framework under which citizenship might be offered as part of investing in Saint Lucia; and if we should think that it is a viable option, then under what circumstances we should do so,” Governor General of St Lucia Dame Pearlette Louisy said in her Throne Speech recently.
Source: Loop News Service