OECD releases report on economic citizenship programmes

By Caribbean News Now contributor

PARIS, France — On Tuesday, the Organisation for Economic Cooperation and Development (OECD) released a report flagging 21 nations on a list whose citizenship by investment (CBI) programmes threaten international efforts to combat tax evasion.

Three European countries – Malta, Monaco and Cyprus – are among those nations flagged as operating high-risk schemes that sell either residency or citizenship. The Caribbean nations listed are Antigua and Barbuda, Bahamas, Dominica, Grenada, Saint Lucia and St Kitts and Nevis.

Two British Overseas Territories, Montserrat and the Turks and Caicos Islands, are also on the list.

The Paris-based OECD warned about the fast-expanding $3 billion CBI industry, which has turned nationality into a…

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