THE CAREFUL CONSUMER'S GUIDE TO THE PURCHASE OF CITIZENSHIP BY INVESTMENT PASSPORTS (PART 1)

Contrary to what you may have ascertained from my frequent articles critical of economic passport (CBI) programs, I am a firm believer in the utility of holding an identity document which allows visa-free entry into most of the world's jurisdictions. I once was required to to travel no less than four times to the Russian Consulate in Washington, to obtain a costly visa for a single day's visit to Moscow to present a lecture on money laundering, and had to endure repeated questioning on the flights, from lawyers I know from my previous life, who openly wondered if I had somehow become a lobbyist. The inconvenience, and waste of time involved in visa acquisition, is something that one always wants to avoid. I can only imagine the ongoing problems of businessmen from certain jurisdictions, who must endure these delays ad infinitum.

Of course, buyers of CBI products cannot rely upon their salesman to explain all the potential legal problems; most of them are not lawyers, and those that are describe themselves as "legal specialists," artfully avoid the dispensing of legal advice, and anyway they aren't independent lawyers, able to establish the necessary attorney-client relationship. They are generally also NOT admitted to practice in the jurisdictions that they are recommending you purchase an economic passport from.

Finally, you will find it difficult, if not impossible, to find qualified counsel in this esoteric field. Frankly, a compliance officer experienced with due diligence investigations might be your best choice to obtain answers to the the tough questions which you should be asking, before you invest a significant amount of money in a citizenship & passport program. I have been looking at CBI for forty years, and there's a lot I would need to research for specific programs that I am not current on.

Due to the fact that there are space limitations on content here, I shall shortly prepare and publish Part 2 of this article, listing those essential questions which in my humble opinion, must be answered before the careful consumer send his first payment to an escrow account. Watch for it.