OECS TO TAKE “AG­GRES­SIVE STEPS” TO SHOW “UNREASONABLENESS OF OECD”

The Star (St. Lucia) - Business Week - - AIRLINES - BY CHRIS­TIAN NESHEIM, ED­I­TOR, IN­VESTOR MIGRATION INSIDER

The Or­ga­ni­za­tion of Eastern Caribbean States (OECS) — five of whose six sov­er­eign mem­ber states have Ci­ti­zen­ship by In­vest­ment Pro­grammes — has re­sponded to the OECD’s re­cent re­port.

The OECD, in its re­port, sin­gled out An­tigua & Bar­buda, Do­minica, Gre­nada, Saint Kitts & Ne­vis, and Saint Lucia, cit­ing con­cerns that these coun­tries’ CIPs may be used to cir­cum­vent the Com­mon Re­port­ing Stan­dards (CRS).

Cur­rent chair­man of the OECS, Prime Min­is­ter Ralph Gon­salves of Saint Vin­cent and the Gre­nadines, the only sov­er­eign mem­ber state of the OECS with­out a CIP, noted the OECS had de­bated the topic at length dur­ing a re­cent meet­ing.

“We had a long dis­cus­sion and all the ar­gu­ments have been mar­shalled to make sure that we take ag­gres­sive steps to show the unreasonableness of the OECD po­si­tion and, at the same time, the coun­tries them­selves un­der­take to look to see ar­eas in their Ci­ti­zen­ship by In­vest­ment/Res­i­dent by In­vest­ment Pro­grammes where there are ar­eas in which there may be any lim­i­ta­tions where those can be strength­ened. So there was a good and long dis­cus­sion, as you’d ex­pect on a sub­ject like that, par­tic­u­larly con­se­quent upon the OECD state­ment,” said Gon­salves.

Gon­salves’ state­ment is note­wor­thy be­cause, while he is him­self an op­po­nent of CIPs and has long dis­missed calls from the op­po­si­tion in his own coun­try to in­tro­duce such a pro­gramme, he none­the­less ac­knowl­edges the un­just OECD-po­si­tion on the mat­ter.

The OECD, in its re­port, sin­gled out An­tigua & Bar­buda, Do­minica, Gre­nada, Saint Kitts & Ne­vis, and Saint Lucia, cit­ing con­cerns that these coun­tries’ CIPs may be used to cir­cum­vent the Com­mon Re­port­ing Stan­dards (CRS)

Prime Min­is­ter of Saint Vin­cent & the Gre­nadines Ralph Gon­salves has been a vo­cal critic of the wave of ci­ti­zen­ship in­vest­ment pro­grammes crop­ping up in the re­gion, but he’s an even big­ger critic of the OECD’s ap­proach to reign­ing them in

Or­ga­ni­za­tion of Eastern Caribbean States (OECS)

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