DUBAI AUTHORITIES PUT CHINESE COMPANIES SELLING FRAUDULENT CARIBBEAN PASSPORTS UNDER THE MICROSCOPE

The Government of Dubai, the business center of the United Arab Emirates, already focusing upon the unwanted presence of European narcotics kingpins living large in their jurisdiction, is now also extremely concerned about the presence of a number of Chinese-owned companies selling illegally-discounted  Citizenship by Investment (CBI/CIP) passports, in what Caribbean laws considers fraudulent transactions. Dubai law enforcement and regulatory agencies, which have in recent years been focused on the suppression of major money laundering operations that cast the Emirate in a negative light internationally, have taken steps to interdict what it considers to be criminal activities that reflect badly when exposed in the global press, and could deter further foreign investment. Dubai is now cracking down on financial crime.

Chinese-controlled companies doing illicit CBI business in the UAE, such as the CARIBBEAN GALAXY GROUP and HENG SHENG, and working in concert with a number of Dubai-based passport consultancies, which we have named in previous articles, have reportedly caused Dubai authorities to have serious concerns about their business practices, which are illegal under the laws of the East Caribbean states who passports they are vending, at discounted rates which are less than 50% of the minimum legal price.

We share Dubai's concerns about the potential consequences of these illegal sales practices, and expect to see law enforcement action there, removing them, in response to what its officials correctly perceive as a threat.