OECD position on economic citizenship programmes unreasonable, says OECS

Chairman of the OECS, Prime Minister of St Vincent and the Grenadines Dr Ralph Gonsalves

By LK Hewlett

BASSETERRE, St Kitts (WINN) –The Organisation of Eastern Caribbean States (OECS) Authority, the highest decision-making body of the nine-member sub-regional bloc, has responded to the recent Organization for Economic Cooperation and Development (OECD) report that listed five of its members for tax evasion concerns with regard their citizenship by investment (CBI) programmes.

The OECD flagged Antigua and Barbuda, Dominica, Grenada, Saint Lucia and St Kitts and Nevis among 21 countries as operating citizenship schemes that potentially pose a high-risk to the integrity of its Common Reporting Standards (CRS). The CRS requires financial institutions to report financial…

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