Commentary: The View from Europe: Do citizenship programmes have a future?


David Jessop is a consultant to the Caribbean Council and can be contacted at
david.jessop@caribbean-council.org. Previous columns can be found at www.caribbean-council.org

By David Jessop

A few days ago, the Organisation for Economic Cooperation and Development (OECD) warned all financial institutions that many citizenship by investment (CBI) programmes that offer passports in exchange for large sums of money, create the potential for misuse.

The powerful inter-governmental organisation said that banks and other financial service providers would in future be required to take the outcome of the OECD’s analysis of high-risk CBI and residency by investment schemes into account when performing their due diligence obligations.

Although the OECD recognised that CBI schemes in…

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