Indications are that the United Kingdom will at long last, and after years of debate, soon end its visa-free access for the Five East Caribbean states that offer Citizenship by Investment (CBI/CIP) passport programs. While still under review and discussion, it appears that this action will be taken in the near future.
Although the reason cited is reportedly to deny access to Chinese nationals entering the United Kingdom with CBI passports, for the purpose of espionage, the widespread abuse of the program, by transnational criminals, sanctions evaders, corrupt Politically Exposed Persons (PEPs) and other individuals who constitute a criminal threat may actually be the real grounds for this decision. Many white collar criminals who never should have been approved by the agencies that allegedly conduct effective due diligence have received passports; The Indian fraudster MEHUL CHOKSI is but one of hundreds in that class. Bribes of EC government staff, as well as senior officials themselves, are known to have facilitated such approvals of clearly unacceptable applicants for CBI passports in St. Kitts, Antigua & Barbuda, Dominica, St. Lucia and Grenada.
When this action occurs, look for an already unhappy European Commission to remove Schengen Zone EC access as well for those countries, given Europe's distaste for CBI where the purchaser neither resides in his new country, nor learns neither the language nor the culture. Malta, the only surviving EU Member with CBI, is being sued to terminate its program.
Expect that the EC CBI passport programs will self-destruct shortly thereafter, as UK and EU access are the only real reason anyone would spend six figures in the first place. Compliance officers will surely welcome their demise, as CBI programs increase risk, and make identification of international white collar criminals more difficult.
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