Fugitive businessman Mehul Choksi, who along with PNB scam main accused Nirav Modi was named in the Rs 13000 crore PNB scam, had recently acquired citizenship of Antigua and Barbuda. Interestingly, Antigua is one such country with which India doesn’t hold an extradition treaty, and the legal process to bring back any fugitive is such complex that the fugitive can’t be extradited or brought back once he or she acquires the citizenship of the country.
How much one has to pay to buy citizenship of these 5 countries?
According to a report released in 2015 by the International Monetary Fund (IMF), Antigua & Barbuda, Malta, Cyprus, Dominica, Grenada and St Kitts & Nevis offer citizenship for a particular price. The citizenship qualification period is immediate in all these countries except Malta (1 year). However, the residency requirements vary in these countries. There are countries which offer residency rather than citizenship in lieu of investment such as Australia, Bulgaria, the US, the UK and New Zealand. However, the qualifying period for residency varies in these countries.
Antigua & Barbuda – 250,000 dollars (2013)
Malta – 1.15 million euros (2014)
Cyprus – 2.5 million euros (2011)
Dominica – 100,000 dollars (1993)
Grenada – 250,000 dollars (2014)
St Kitts & Nevis – 250,000 dollars (1984)
*Inception of program is mentioned in bracket
Antigua and Barbuda passport
According to Henley’s Global Residence and Citizenship Program global rankings of 2018, the passport of Antigua is 25th powerful in the world. It provides access of visa to 149 countries. In less than 3 months, the request of citizenship-by-investment is processed. Any person who has stayed for five days in five years is eligible to apply.