We have noted the imminent launch of the Anguilla Residency by Investment (ARBI) Programme, which on the face of it is a worthy initiative. Unlike the Citizenship by Investment programmes of member OECS territories, it provides no passports for obvious reasons; it does, however, provide an option for British nationality in the longer term, based entirely on residence in Anguilla.
Under the St Kitts Citizenship by Investment, for example, it is believed that there are more economic citizens than permanent residents, with 98% of economic citizens having no plans for residency. Many of these people have made significant investments in the local economy in return for the advantage of being able to carry the nation’s passport. But can you imagine the implication of demographic changes, and the need to provide additional services if most of these economic citizens had decided to take up residency there? The almost instantaneous impact people with money – but otherwise no other cultural links to the state – will have is to immediately disrupt the body politic and create more problems than the scheme solves.
That is why our programme, which is only residency, must have some kind of cap, since we must guard against the local population becoming almost overnight a minority in their own land of birth. The issue of the numbers is all the more important given our land-size, and the inability to absorb a large influx without unbalancing Anguillian society.
We have already witnessed what has happened to our supermarket and retail sectors. The public has a right to be concerned about the potential demographic undermining – and those concerns must be addressed sooner rather than later, before they have wreaked irreparable damage. The implementation of the programme must also be tied to other clearly defined initiatives that will significantly aid our local population, which is currently under intense economic stress.
The problem with the issue of investment and economic expansion lies deeper that merely seeking to invite foreign capital – as important as that is. We are struggling under an economic structure that has failed to empower our people; failed to encourage entrepreneurship; and failed in its ability to give better opportunities to the younger generation. It is ironic indeed that we are promoting the advantages of living in Anguilla while our policies and national strategies are forcing our own people to live abroad and to move primarily to the UK.
Perhaps the development of a programme to help struggling local home owners might be a good place to start. And in this quest to attract foreign investment, why are we not seeking to tap into the Anguillian diaspora? There are many Anguillians scattered all over the world who have acquired the economic means to make significant investments in the land of their birth. Anguillians abroad also have both an emotional and a cultural tie to the country. If the object is to encourage more investment in the local economy – and heaven knows we need it – how about a revolutionary and bold initiative that will give sweeping concessions to our people abroad, encouraging them to invest in their land of birth? We know how Ireland did it in the wake of their economic crisis. We firmly believe that with a determined and innovative strategy we can attract hundreds of millions in investment via that route.
We accept that there is a need for a residency programme – only that we need to discuss its scope some more; and analyze further, its likely impact. And the programme must be part of a broader economic policy framework that seeks to develop the local economy and enhance local life in a holistic way that will make native Anguillans know and feel that they have a genuine stake in the land of their birth. We must start, of course, with honouring our own and respecting our ancestral ties and heritage above all. The proposed arrangements should be delayed to allow for more transparency, discussion and debate among the population. Our people need to feel comfortable, and they need to own it. The many genuine concerns people have raised must be answered in an open and transparent way.
There is an unholy mad rush to implement a programme that has yet to survive full and thorough scrutiny. This state of affairs is leading, unnecessarily, to suspicion. There are still many unanswered questions. Among them: why is there a retroactive category for residency, with a fast track process? And why is the fee for retroactive residency – at US$12,250 – so low? Exactly what are the likely numbers of people who will take advantage of this fast track process? Which persons currently on island are going to benefit from this fast track process? Exactly how will agents be appointed? And what will be the general rules, including the safeguards against corruption?
Yes Anguilla is open for business, but it should not be for sale.
