Lalit Modi Acquires Vanuatu Citizenship Amid Legal Challenges

Lalit Modi, former IPL chief, has acquired Vanuatu citizenship while facing money laundering and tax evasion charges. The MEA confirmed his application to surrender his Indian passport amid ongoing legal challenges. Vanuatu’s attractive golden passport program facilitates citizenship through a substantial investment, posing potential security risks due to exploitation by criminals. Despite these concerns, the program remains popular among international investors.

Lalit Modi, former chief of the Indian Premier League (IPL), has recently garnered attention for acquiring citizenship in Vanuatu, a small Pacific island nation. The news was confirmed by the Ministry of External Affairs (MEA) during a media briefing, revealing that Modi applied to surrender his Indian passport while facing serious charges of money laundering and tax evasion.

The MEA spokesperson, Randhir Jaiswal, stated, “Lalit Modi has made an application for surrender of his passport at the High Commission of India in London. The same will be examined in light of extant rules and procedures.” Despite India’s efforts for extradition, Modi’s escape and recent citizenship acquisition add complexity to the ongoing legal situation.

Modi’s choice of Vanuatu is noteworthy due to its appealing golden passport program, which allows individuals to acquire citizenship by investing USD 150,000 (approximately INR 1.3 crore), with minimal documentation required. This streamlined process can be completed online within a month, making Vanuatu an attractive option for those seeking citizenship without physically visiting the nation.

Vanuatu’s golden passport initiative is lucrative, constituting roughly 40% of the country’s revenue. This program has attracted significant interest from international investors, particularly from India and NRIs, with reports indicating that at least 30 Indians obtained Vanuatu citizenship in the last two years. Notably, the program has been scrutinized for potential misuse, as it has been linked to organized crime and offers access to the EU and UK without stringent checks.

Additionally, a Vanuatu passport provides visa-free access to over 120 countries, including the UK and several European nations. As a tax haven with no income, corporate, or wealth taxes, Vanuatu continues to entice individuals seeking favorable conditions for residence and business operations, despite concerns regarding the integrity of its citizenship program.

Lalit Modi’s acquisition of Vanuatu citizenship is a significant development amid ongoing legal challenges related to money laundering and tax evasion. The golden passport program, allowing expedited citizenship for a fee, has made Vanuatu a preferred choice for many. However, this program also raises concerns over security, given its potential exploitation by criminal elements. The implications of such citizenship acquisitions, particularly for individuals facing legal scrutiny, warrant careful examination.

Original Source: www.indiatoday.in