Talks are currently on the table about tightening citizenship rules for investors in order to boost natural security in the Caribbean Island nations, since terrorists and criminal elements may gain citizenship posing as investors.
Even though the island’s investor citizenship program has proved beneficial for the economy, the Grenadian prime minister, Keith Mitchell, has made it official that no compromises will be made to jeopardize national security.
Since tightening the screening process, Grenada has already rejected a few applicants who were approved by international partners. These new policies will have a carry-over effect since the EU-style free-movement regime of the Caribbean Community known as Caricom lets Caribbean nations travel freely all over the region without the need for visas.
St. Kitts and Nevis, the twin-island federation that form part of the Caribbean islands, were previously letting investors in for $550,000 per individual since the economy depended primarily on tourism for revenue. The federation has credited this revenue source through providing funds for building internationally recognized hotels, a step the prime minister, Timothy Harris, feels will lead to a positive outcome.
He further adds that his government is committed to combating any damage that may come as a reputational downside by compromising the security arrangement. Canada depicted a visa regime for the twin-island regime nearly two years since it had concerns about the then investor citizenship program.
St Lucia, Dominica as well as Antigua and Barbuda have cashed in on the program in order to iron out dwindling tourist numbers, particularly during times of economic downturn in the US and Europe.
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