The Rasheed Griffith Show The Golden Passport - Kristin Surak
Citizenship by Investment or CBI programs tend to get a bad rap due to the misconceptions surrounding how they work and how they came to be. Dr Kristin Surak shares some valuable insights on the origins of "passports for sale" and goes into more depth on the true meaning of citizenship through the eyes of the people and the state.
Several islands in the Caribbean offer prominent CBI opportunities. It is estimated that more than 40% of Dominica's government revenue is derived from their own CBI program, financing wide-scale infrastructure projects across the island, such as additions to their green energy generation and a new international airport. To truly understand the lucrative nature of CBIs, we'll explore the historical context behind their inception, the motivations behind those who invest in these programs, the suppliers involved, and the complexities of successfully executing such a multifaceted process.
A passport may not necessarily mean citizenship. Dr. Surak posits that to grasp the motivations behind CBIs, a better understanding of modern state and personhood concepts is required - what exactly does a foreign passport offer, and how does it differ from the perks of naturalization?
The history of CBI programs also sheds light on the driving factors behind their persistence. For example, Hong Kong's handover to China fueled much of the initial success of many CBI programs in the Caribbean and Canada. A passport can be an assurance or fail-safe against government-induced insecurity, evident by the number of Hong Kongers who took up the offer.
But are these programs also a backdoor for unsavory individuals to bypass global restrictions? Not necessarily. The screening process for many of these programs is vigorous, even more so than Visa approval from countries like the USA. Bad apples are not unheard of, but this is not an indictment on the industry as a whole.
These programs are the lifeblood of several smaller economies and are a legitimate source of revenue for vulnerable small island states. The question should not be if CBIs are harmful because they aren't, but how best they could be utilized to enable development in the countries that rely on them.