THE draft ‘Citizenship by Investment’ bill is complete and is subject to further review before it is submitted to Cabinet for consideration.
Prime Minister Hon. Jeremiah Manele revealed in Parliament, this is a priority under the government for National Unity and Transformation’s 100- days program.
“I am happy to inform parliament that the first draft of the bill for citizen by investment has been completed by the AG’s chambers and is undergoing further peer review before submission to Cabinet for its consideration.”
Speaking on the importance of the bill, Prime Minister Manele said, Citizenship by Investment is one of the transformative polices 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.
The 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.
He however cautions, “because of potential inherent risks, the government is undertaking a thorough analysis to ensure that once implemented all potential risks are mitigated and managed, to ensure the program brings the anticipated economic benefits to the country without undermining the credibility and standing of the country’s Ordinary Passport.” PM Manele stated, 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
