Lalit Modi, former IPL Chairman and fugitive, has acquired the citizenship of Vanuatu, an island nation in the Pacific. The development was confirmed by Randhir Jaiswal, the spokesperson of the Ministry of External Affairs (MEA).
Jaiswal said that the tax evasion and money laundering accused Modi has acquired the citizenship of Vanuatu and has applied to surrender his Indian passport at the Indian High Commission in London.
Lalit Modi, a fugitive India trying to extradite
For those unversed, Modi had served as the vice-president of the Board of Control for Cricket in India (BCCI) and played a crucial role in starting the Indian Premier League (IL). He is accused of bid-rigging, money laundering, and violating the Foreign Exchange Management Act, 1999 (FEMA). He fled to the UK in 2010 while under investigation for financial misconduct, including unauthorized fund transfers.
Since then, India has been trying to extradite him, but the efforts have made no progress so far. But the question is why, after 15 years, he chose to acquire the citizenship of Vanuatu except other countries?
Why did Lalit Modi choose Vanuatu?
Vanuatu is a tiny island nation in the Pacific with a population of merely 3 lakh that offers citizenship by investment (CBI). The nation has a very lenient and lucrative citizenship application process and gives advantages to the rich.
However, Vanuatu is not the only country that has a citizenship purchase programme. Malta, Montenegro, Antigua, Turkey, and Barbuda, Dominica, and Egypt also have such programs. According to Vanuatu’s Golden Visa programme, any person can acquire citizenship of the country by paying between $1,35,500 and $1,55,5000. On top of that, fewer documents are required to acquire citizenship.
Moreover, the country provides the liberty to provide the documents digitally. This simply means that one does not need to enter the country to get citizenship and can acquire it from outside.
Vanuatu: Strong passport, tax haven
One of the features of the Vanuatu passport is that it allows visa-free entry to 113 countries. As per the Henley Passport Index, it is the 51st strongest passport in the world. Banuatu is also a zero-tax jurisdiction and incurs no personal income tax, capital gains tax, wetahe tax or inheritance tax.