The Solomon Islands Government has completed the first draft of bill to launch a new citizenship by investment scheme. The new program involves the issuance of the Solomon Islands Ordinary Passport to individuals and their family members that have fulfilled the strict due diligence requirements that will be implemented to ensure the program is transparent and accountable.
“I am happy to inform parliament that the first draft of the bill for citizens by investment has been completed by the AG’s chambers and is undergoing further peer review before submission to Cabinet for its consideration.”
– Prime minister Manele
Speaking on the importance of the bill, Prime Minister Manele said, Citizenship by Investment is one of the transformative policies the GNUT government has embarked on and is developing the appropriate regulatory framework to enable its implementation.
The Prime Minister emphasised, the program will attract foreign investment into the economy that will supplement current government revenue streams. To ensure its implementation is legal, the government plans to consult and ensure Solomon Islanders contribute to its development before it is finalised for tabling in Parliament.
In 2017, Dual citizenship was legalised, removed the constitutional prohibition of dual nationality, inline with the growing trend of the 21st century. In 2020, Solomon Islands announced they are “considering” a new citizenship by investment scheme, similar to that of neighbors Vanuatu and Samoa. In Oct 2023, 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.
Source: SIBC
