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The Dominican Republic economic crisis :  Citizenship available for Rs 1.7 crore

Santo Domingo – The Dominican Republic, a country in the troubled Caribbean islands, has decided to implement a plan to sell citizenship to provide the country’s infrastructure and vital services to its citizens.

1. Almost 7 years ago, this landlocked country was hit by Hurricane Maria. The economic situation of this country, which is already counted among the underdeveloped countries, worsened due to the cyclone.

Credits : Google Maps

2. Dominica has implemented a ‘Citizenship-by-Investment’ scheme to raise scarce funds for domestic infrastructure and development projects. Under this scheme, Dominica offers citizenship to the country’s rich and ultra-rich people from around the world; but in return, these super rich have been conditioned to invest heavily in the country. The minimum investment amount has been set at US $2 lakh i.e. Rs 1.7 crore.

Credits : Travel Pulse

3. The country’s finance minister, Irving McIntyre, said the option was chosen to keep Dominica’s debt from rising further and to avoid a long wait for promised financial aid from rich countries.

Bad consequences of selling citizenship

In this way, selling citizenship to people from other countries is also expected to cause some problems. The principles of transparency and security are considered to be the most important in it. Doubts and fears are starting to arise about the background of the people who are newly becoming citizens of the country.

Editorial Perspective

A country officially takes money to sell its citizenship. At the same time, India does not stop crores of people from infiltrating into India and corrupt people in India manage to give them Indian citizenship.

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