Lalit Modi’s Acquisition of Vanuatu Citizenship Amid Legal Troubles

Lalit Modi, ex-IPL chairman, has acquired citizenship in Vanuatu amidst ongoing legal issues, including charges of money laundering. This move comes 15 years after he fled to the UK, and he has applied to surrender his Indian passport. Vanuatu’s golden passport program attracts wealthy individuals offering simplified access, raising concerns about criminal exploits.

Lalit Modi, the ex-IPL chairman, has gained attention for acquiring citizenship in Vanuatu 15 years after fleeing to the UK amid money laundering and tax evasion charges. His application to surrender his Indian passport was confirmed by the Ministry of External Affairs (MEA), which is actively pursuing his case legally. Modi’s move to secure Vanuatu citizenship marks a new twist amid stalled extradition efforts by India.

Vanuatu, a small nation with a population of around 300,000, offers a lucrative golden passport program requiring a payment of USD 150,000 (Rs 1.3 crore) for citizenship. The simplified process, which can be completed online within a month and with minimal documentation, makes it particularly attractive for wealthy individuals.

The golden passport initiative is a significant revenue source for Vanuatu, contributing nearly 40% to the economy. It has proven beneficial even during the Covid-19 pandemic, allowing the country to report a budget surplus in 2021. Vanuatu passports offer holders visa-free travel to over 120 countries, enhancing their global mobility without imposing income or corporate taxes.

Reports indicate a growing trend of Indians, including non-resident Indians (NRIs), seeking Vanuatu citizenship, with more than 30 obtaining it in the last two years. However, concerns about security have emerged, as the program has previously attracted attention from criminal organizations seeking ease of access to the EU and UK. Investigations suggest many applicants have ties to offshore enterprises.

Lalit Modi’s recent acquisition of Vanuatu citizenship highlights his continued evasion of legal scrutiny in India and underscores the controversial nature of citizenship-by-investment programs. As nations like Vanuatu benefit economically, they also face critiques regarding the exploitative potential of such programs, which have drawn the interest of criminal groups. The dynamics of Modi’s case illuminate ongoing challenges in international law enforcement and extradition processes.

Original Source: www.indiatoday.in