CBI can give rise to questionable activities – Finance Minister
A Citizenship by Investment (CBI) programme has the capacity to destabilize a country, said Minister of Finance, Camillo Gonsalves.
And, he has put the CBI side by side with such frowned upon activities like sex tourism and narco-states.
“There are innumerable examples of the way corruption, organized crime and questionable acts grow around Citizenship by Investment (CBI) programmes,” Minister Gonsalves said last Thursday, February 6, 2025 at a function at the conference room of the Holiday Inn Express and Suites in Diamond.
“There are countries in this world whose own volatility makes it difficult for their people to move around.
“The countries in the Middle East, the countries in Asia, by-product of hostility, repressive governments, whatever the case may be, who have an interest in buying the passport of a stable country so that they can get around….
“…but that very act destabilizes the country whose passport they bought, and at some point, you reach a tipping point, and your own passport becomes worthless.”
He said that entities who are engaged in CBI programmes are constantly looking for the new market and passports that are untouched, “that they can latch onto and sell for as long as it lasts, and then they’ll move on again,” Gonsalves pointed out.
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