St Kitts and Nevis has been named the best in the world for providing a top citizenship by investment (CBI) programme, according to this year’s CBI Index rankings.
The Financial Times’ Professional Wealth Management Magazine’s CBI Index saw St Kitts and Nevis score the highest with 77 points, in part due to the country’s prompt and decisive action based on the ‘6 Principles’ framework.
Dominica was runner-up with 75 points, followed by Saint Lucia and Grenada with 72 points, and Antigua and Barbuda in fifth place with 66 points.
The CBI Index evaluated 12 countries, including Austria, Cambodia, Egypt, Jordan, Malta, Turkey and Vanuatu.
The report found that Caribbean programmes continued to lead the 2023 CBI Index, thanks to Grenada’s improvement in Due Diligence, Standard of Living and Certainty of Product, which helped it climb to third place.
Grenada was also swift to implement specific ‘Six Principles’ measures such as mandatory interview requirements, which were introduced on September 1, 2023.
The CBI Index assesses each programme across nine pillars, including Freedom of Movement, Standard of Living, Minimum Investment Outlay, Mandatory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family, and Certainty of Product.
St Kitts and Nevis earned full marks in four of these pillars: Mandatory Travel or Residence, Ease of Processing, Due Diligence, and Certainty of Product.
An alarming situation has emerged concerning the citizenship application of Ms. Amber Louise Murphy in the Commonwealth of Dominica, potentially implicating her in a complex web of deceit, forgery, and alleged criminal activities aimed at defrauding the UK HMRC (Her Majesty’s Revenue and Customs).
Dominica, known for its citizenship by investment program, was brought into the spotlight when a confidential letter was received by Dominican authorities, outlining serious concerns regarding Ms. Murphy’s application. The letter unveils a series of discrepancies and irregularities within her submission:
1. **Forgery of Professional Reference Letter:** An ostensibly authentic “Professional Reference Letter” dated 26 October 2016, purportedly signed by an individual, was discovered to be fraudulent. The stamp affixed to the document did not correspond to the stated organization, and the signatory disavowed any knowledge of Ms. Murphy in 2011, casting significant doubt on the legitimacy of the reference.
2. **Invalid Declaration of Trust:** The “Declaration of Trust” dated 24 August 2012, included in her application, was found to be invalid as it had been superseded by another Declaration of Trust. This raises concerns about the timing and legitimacy of the document submitted.
3. **Misrepresentation of Company Ownership:** Contrary to her claims, Ms. Murphy was not the true Ultimate Beneficial Owner of the company in question. During her citizenship application, she had limited control or authority over the company’s affairs, working primarily as a freelancer. A declaration from a former director corroborated this assertion.
4. **False Residency Claims:** Despite asserting her residency as Bushey, UK, and providing supporting documents and affidavits, evidence suggests that Ms. Murphy was, in fact, a resident of the Dominican Republic at the time. This conflicting information raises serious questions about the accuracy of her declared residencies.
One of the gravest allegations is that Ms. Murphy, by falsely claiming UK residency, may have participated in deliberate tax evasion, utilizing her Dominica citizenship as part of a criminal scheme to defraud the UK HMRC.
Furthermore, Ms. Murphy currently faces three arrest warrants encompassing 30 criminal charges, leading to her being classified as a fugitive from justice. These revelations cast significant doubt on her character and conduct.
In response to these distressing revelations, authorities in Dominica have been urged to conduct a thorough review of the evidence and take appropriate measures to safeguard the integrity of the Dominica citizenship by investment program. The objective is to preserve Dominica’s reputation as a jurisdiction vehemently opposed to criminal activities and committed to maintaining the highest standards of scrutiny in its citizenship approval process.
This case underscores the critical significance of maintaining stringent due diligence procedures in citizenship-by-investment programs to prevent abuse and uphold the credibility of such initiatives.
As of now, official statements from Dominican authorities regarding these allegations are pending. However, this scandal is likely to stimulate broader discussions about vetting processes and oversight in similar citizenship programs worldwide.
I guess Dominica is still not as bad compares to the other Caribbean countries when it comes to attracting applicants who are deceitful, defrauding their CIP application and alleged criminal activities.
Dominica is a corrupt and broke country. Their CIP due diligence is a joke, they are well known for not checking documents and accepting criminals, which is why the UK revoked visa free access for Dominica passport holders.