Sunday, December 22, 2024

Solomon Islands Approves Citizenship Path for Investing

Solomon Islands Parliament passed Citizenship (Amendment) Act 2023 makes it easy, to those persons, who maintain close ties to the country, supporting the nation financially through employment, owning a property, or investing in a company. Solomon islands does not have a citizenship by investment program, nor does the amendments facilitate direct citizenship for economic investment, without maintaining close ties to the country and residence period of no less than 10 years.

The newly passed Citizenship (Amendment) Act 2023 specifies the following pre-conditions for acquisition of citizenship..

  • Employment, Provident fund or Banking relationship of more than 5 years
  • Land or tangible property registered in the persons name.
  • Evidence of financial contribution to the economy of Solomon islands. Eg. Investment in a company registered in the persons name (with atleast 10% of the shares).

The Citizenship (Amendment) Act 2023 is designed to amend the Citizenship Act 2018 to address deficiencies and limitations identified in the past recent years.

The Section 16 of the Citizenship Act 2018, has substituted the residence condition “10 years” repealing of “5 out of 10 years”.

Certain provisions were seen as unfair and discriminatory upon children under 18 years of birth citizens. The amendments ensure the Constitutional rights of children born from birth citizens are protected. They are eligible and are automatically entitled to be citizens of the Solomon Islands without having to apply through the Solomon Islands Citizenship Commission.

In 2017, Dual citizenship was legalised, removing the constitutional prohibition of dual nationality, inline with the growing trend of the 21st century.

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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