Russians don’t need to be a billionaire when purchasing citizenship and passport in small island countries, like St. Kitts, St. Lucia, or Grenada. In St. Kitts, the cost is only $100,000 and there are even family specials. Once a foreigner buys such a passport, they can travel visa-free travel to 157 countries. It includes the European Union and the UK, Canada and often opens a back door to the United States.
Opening bank accounts with a St. Kitts passport is not a problem in the many countries that cut off Russian banks from SWIFT.
If a Russian prefers a Turkish passport the cost is $250,000. In 2019 12% of all visitors to Turkey came from Russia.
It appears most Caribbean and EU countries suspended the citizenship by investment program for Russians this month after severe sanctions were put in place.
Cyprus was a preferred passport for Russian Millionaires and Billionaires. The Golden Cyprus passport program is now suspended. How many Russian millionaire citizens close to the Putin regime also have EU Cyprus passports?
Of course, this would not apply to those Russians, that are already citizens of St. Kitts & Nevis, Dominica, Grenada, Cyprus, Portugal, Vanuatu, or the many other countries where there is a legal market for passports.
Ravel Valeryevich Durov, born Oct. 10, 1984, is a Russian-born citizen of St. Kitts. He is best known for founding the social network site VK and later Telegram Messenger. His net worth is estimated to be north of $17 billion and he has been a vocal advocate for freedom.
Not all Russians or other St. Kitts passport holders may be good guys like Ravel, but the world opens up for every single one of their citizens, regardless if they ever visited their country of citizenship.
The concept of Citizens By Investment was first introduced to the world by St. Kitts and Nevis in 1984. In exchange for investing in the country, applicants could receive a St. Kitts & Nevis passport if they were successful in passing the due diligence scrutiny of the government.
Citizenship by investment may have been planned as a plan B by the Putin regime to protect those that are now no longer welcome in many parts of the world using a Russian passport.