The government of Suriname says it is seriously looking to implement a Citizen-ship by Investment programme that grants citizenship to foreigners who want to invest in the country, according to the country’s president, Chandrikapersad Santokhi.
On Thursday, Santokhi, whose country, Guyana’s neighbour, is on the cusp of making its first major oil recovery, told the National Assembly in Paramaribo that the country could be on the verge of following the lead of other member countries of CARICOM that already offer Citizenship by Investment programmes.
Santokhi told the country’s National Assembly that a team of experts is currently studying the possibility of introducing a citizenship by investment programme, reportedly pointing out that given its population of just over half a million people, the Dutch-speaking republic will not be able to achieve the desired development objectives unless it secures inputs from workers from other countries. Santokhi told the Parliament that the country has enormous potential in the agricultural sector, tourism, and mining, especially in gold, granite, oil, and gas which would attract foreign investment and that these sectors would require an infusion of foreign workers.
Hinting that the country’s oil and gas resources would weigh heavily in the decision to provide citizenship to non-nationals, Santokhi said in his presentation to the country’s Parliament that “with the oil and gas, we look forward to the decision of the international oil companies regarding the final investment decision which is projected for the coming year.” He added that further development of those sectors not only requires significant capital but also expertise and manpower that Suriname does not currently have in sufficient quantities.
“One fact is clear to me: with 600,000 people in Suriname, approximately 150,000 households, we will not be able to sufficiently develop the indicated sectors, and therefore not be able to earn optimally for the further development of our country.”
Meanwhile, the Surinamese president said that the government is also considering allowing companies to recruit workers from abroad under certain conditions, He says that these initiatives would make a positive contribution to the earning capacity and further development of the manufacturing sector, in keeping with the relevant international regulations and the national legal framework.
Other CARICOM countries that offer Citizenship by Investment programmes are: Antigua & Barbuda, Dominica, Grenada, St Kitts & Nevis, and St Lucia.
Citizenship by investment provides an avenue through which persons can acquire a second citizenship and passport in another country by investing in its economy. Such investment options include real estate, government bonds and the undertaking of major business, development initiatives that manifestly contribute to the development of the country.
