Overview
- Launched in February, the US$105,000 citizenship-by-investment programme has approved two families and four individuals so far.
- One applicant withdrew after background checks flagged adverse findings, prompting officials to strengthen due-diligence procedures.
- Officials project sales to reach 500 passports, generating US$43 million—nearly 20% of government revenue—for climate adaptation and relocation projects.
- The programme’s vetting measures draw on lessons from a 2003 scheme that inadvertently granted passports to Al-Qaeda operatives.
- Authorities report growing demand with dozens of applications under review and highlight visa-free entry to 89 countries as a key incentive.