Lalit Modi, former IPL chief, opted for Vanuatu citizenship after surrendering his Indian passport. Vanuatu Prime Minister cancelled his passport due to his fugitive status and financial misconduct allegations. The country’s controversial ‘golden passport’ program draws wealthy individuals with a streamlined process, offering visa-free travel and tax advantages, despite facing criticism for facilitating abuse.
Lalit Modi, the former president of the Indian Premier League (IPL), recently surrendered his Indian passport at the Indian High Commission in London, prompting Vanuatu’s Prime Minister Jotham Napat to cancel the passport he had issued to Modi. This decision emerged amidst heightened scrutiny regarding Modi’s alleged financial misconduct during his IPL tenure, particularly concerning embezzlement accusations.
The Prime Minister’s directive was officially confirmed through a statement from Vanuatu, indicating that recent media coverage revealed Modi’s status as a fugitive in India. “I have instructed the Citizenship Commission to cancel the Vanuatu passport issued to Mr. Lalit Modi following recent revelations in international media,” the statement noted.
Additionally, Vanuatu authorities mentioned that Interpol had twice denied India’s requests for a red notice against Modi due to insufficient judicial evidence. This lack of evidence effectively precluded the possibility that such an alert would have resulted in the rejection of Modi’s citizenship application.
Modi’s decision to acquire Vanuatu citizenship aligns with the nation’s controversial ‘golden passport’ program, which permits affluent individuals to obtain citizenship in exchange for a payment of approximately USD 150,000. The program is appealing due to its minimal documentation and rapid processing, typically granting citizenship within a month without necessitating a visit to the country.
Vanuatu’s economy significantly benefits from this scheme, with nearly 40% of its national income derived from passport sales. Despite being one of the poorest countries globally, Vanuatu reported a budget surplus in 2021, driven largely by passport sales during the COVID-19 pandemic.
Possessing a Vanuatu passport provides holders with visa-free access to over 120 countries, including the UK and several European nations. Additionally, Vanuatu’s status as a tax haven—eliminating income, corporate, and wealth tax—further enhances the appeal of its citizenship.
Increasingly, Vanuatu is becoming a favored location for Indians and NRIs pursuing citizenship. Reports indicate that at least 30 individuals of Indian origin have obtained citizenship over the past two years; however, the majority of these passports have been issued to Chinese nationals.
Despite its attractions, the golden passport program has faced criticism for its susceptibility to abuse. Investigations, including those by prominent media outlets, have illustrated how the program can facilitate entry for individuals with dubious financial backgrounds into the UK and European Union without appropriate scrutiny.
In summary, Lalit Modi’s choice to obtain Vanuatu citizenship following the surrender of his Indian passport has sparked considerable attention, particularly given the ongoing legal issues he faces. Vanuatu’s ‘golden passport’ program and the nation’s economic dependence on passport sales further complicate the scenario. As Vanuatu garners interest from Indian nationals, the implications of such citizenship paths highlight continuing challenges regarding financial oversight and regulation of citizenship programs.
Original Source: www.newsx.com
