Lalit Modi Acquires Vanuatu Citizenship Amid Legal Troubles

Lalit Modi, the former IPL boss facing money laundering and tax evasion charges, has acquired Vanuatu citizenship. The MEA confirmed his application to surrender his Indian passport. Vanuatu’s golden passport program offers citizenship for USD 150,000 with minimal documentation, attracting many wealthy individuals, including Indians, despite concerns over exploitation by criminal organizations.

Lalit Modi, the former head of the Indian Premier League (IPL), has garnered media attention once more, this time due to his recent acquisition of citizenship in Vanuatu. This information was confirmed during a briefing by the Ministry of External Affairs (MEA). Notably, Modi is facing allegations of money laundering and tax evasion and has sought to surrender his Indian passport.

According to MEA spokesperson Randhir Jaiswal, Modi has filed an application at the Indian High Commission in London to relinquish his passport, stating that it will be reviewed in accordance with existing regulations. The announcement reveals that Modi’s citizenship in Vanuatu catalyzes a renewed focus on his ongoing legal issues, especially as India’s extradition efforts have stalled for over 15 years.

Vanuatu, with a modest population exceeding 300,000, operates a lucrative golden passport program catering to affluent individuals. For a mere USD 150,000 (approximately Rs 1.3 crore), individuals can secure citizenship with minimal documentation and through an expedited online process, often completed within one month without physical presence in the country.

This citizenship program is noted for being one of the most accessible and affordable options available, with passport sales constituting nearly 40% of Vanuatu’s revenue. Interestingly, the nation reported a budget surplus in 2021, a rare achievement considering the economic pressures faced globally during the Covid pandemic. Citizens enjoy visa-free access to over 120 countries, including the UK and many European nations; the country is also recognized as a tax haven.

An increasing number of Indians and Non-Resident Indians (NRIs) are reportedly pursuing citizenship in Vanuatu, with at least 30 applicants from India in the past two years. Although Vanuatu’s golden passport program is in high demand, it has faced scrutiny for being exploited by international criminal organizations, offering potential unlawful entry to the EU and UK.

In summary, the acquisition of Vanuatu citizenship by Lalit Modi highlights several significant aspects, including his legal predicaments and the appeal of Vanuatu’s golden passport program. This program, while beneficial to those seeking new opportunities, is also under investigation for its potential misuse by criminal entities. The combination of easy citizenship, minimal requirements, and tax advantages make Vanuatu a compelling option for many wealthy individuals.

Original Source: www.indiatoday.in