Lalit Modi surrendered his Indian passport, resulting in the cancellation of his Vanuatu citizenship by the Prime Minister due to his wanted status in India. Vanuatu’s passport program, appealing for its minimal requirements and rapid processing, has drawn interest from Indian and NRI communities despite concerns over misuse by criminal networks.
Lalit Modi, the former head of the Indian Premier League (IPL), recently surrendered his Indian passport, leading to the cancellation of his Vanuatu passport by Prime Minister Jotham Napat. This action follows new media reports revealing Modi’s wanted status in India amid allegations of financial misconduct during his IPL leadership.
The official announcement from Vanuatu’s government highlighted the Prime Minister’s directives to the Citizenship Commission, emphasizing the cancellation due to the fresh allegations. It was also noted that India’s Interpol requests for a red notice were previously denied due to insufficient judicial evidence.
This incident is a notable culmination of Modi’s longstanding legal troubles, as he has been in exile since fleeing to the UK approximately 15 years ago. He recently acquired Vanuatu citizenship, which is notable for its ability to provide expedited passport processing through its ‘golden passport’ program, available for a fee of USD 150,000.
This citizenship program has emerged as a significant income stream for Vanuatu, contributing nearly 40% of the nation’s revenue. It grants applicants visa-free travel to over 120 countries, offering a lure to those seeking enhanced global mobility, especially given Vanuatu’s status as a tax haven with no income or wealth taxes.
Interest in Vanuatu citizenship has surged among Indians and Non-Resident Indians, with at least 30 individuals of Indian descent obtaining citizenship in recent years. Nevertheless, the program has faced scrutiny due to its accessibility for individuals with dubious financial backgrounds, raising concerns about its exploitation by criminal organizations.
In conclusion, Lalit Modi’s recent citizenship acquisition in Vanuatu, followed by the revocation of his passport amid ongoing scrutiny, underscores a complex intersection of legal issues and international mobility. The appeal of Vanuatu’s citizenship program, particularly for affluent individuals, raises critical questions regarding governance and the potential for misuse. This situation reflects a growing trend among high-net-worth individuals seeking alternative citizenships to enhance their global standing while navigating potential legal challenges in their home countries.
Original Source: www.newsx.com
