Nauru Introduces Citizenship Sales to Fund Climate Relocation Efforts
The Pacific island nation plans to sell $105,000 'golden passports' to finance moving residents inland as rising sea levels threaten its survival.
- Nauru's new citizenship-by-investment program aims to raise funds for relocating 90% of its population to higher ground due to rising sea levels.
- The program offers citizenship for $105,000, granting visa-free access to 89 countries, including the UK, Ireland, UAE, and Hong Kong.
- The government expects the scheme to generate $5.7 million in its first year, with hopes of eventually reaching $43 million, or 20% of national revenue.
- Critics highlight risks of criminal misuse, referencing a previous passport sale program in 2003 that was exploited by Al-Qaeda members.
- Nauru officials emphasize strict vetting procedures for applicants and describe the initiative as a necessary innovation for climate-vulnerable nations.