As published on prnewswire.co.uk, Tuesday 7 June, 2022.
The non-profit news entity, Caribbean Investigative Journalism Network (CIJN), has launched an investigative series on citizenship by investment (CBI) programmes in the Caribbean. The stories examine the benefits of the programmes, along with transparency and accountability concerns in St. Kitts and Nevis, Antigua and Barbuda, Grenada, Dominica and Saint Lucia.
A network of eighteen Caribbean journalists worked on the cross-border collaboration, which highlighted the economic value of such programmes to these small island developing states. Former CNN anchor and correspondent Jim Clancy led the teams in developing five long-form multimedia investigative stories.
The global concern over such programmes has become increasingly acute due to the current conflict between Russia and Ukraine. Caribbean nations have, accordingly, halted applications from Russia.
With the EU Parliament's review of CBI programmes and the uncertainty of the outcome, these islands could lose a major source of revenue that accompanied removal of Schengen visas. Based on available data, the report indicates that the highest number of applicants in the region are Chinese nationals.
A country-by-country examination of the use of revenue from the initiatives shows that while there are several positives which benefit the country's citizenry, there are grey areas regarding where and how the funds are utilised. There are also issues raised by several opposition parties and civil society critics. The degree of transparency and data in the public domain varied from island to island.
There is a clear indication that competition among the Caribbean countries is fierce, with each attempting to ensure that its investment option is the most attractive.
CIJN will also will be releasing a documentary on the findings.
CIJN stories can be accessed at www.cijn.org. All content can be freely republished with attribution and without amendment. For more information, email firstname.lastname@example.org