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Special Report: Passports . . . for a price

posted Mar 18, 2012, 11:58 AM by Milorad Borota   [ updated Mar 18, 2012, 11:59 AM ]
Sun, Feb 12 2012
By Atossa Araxia Abrahamian Reuters

LONDON (Reuters) - For decades, the two-island nation of St. Kitts and Nevis exported sugarcane to keep its economy afloat. When sugar prices fell, St. Kitts began to sell an even sweeter commodity: its citizenship.

For $250,000, a foreigner can buy full rights as a citizen there. The transaction can take as few as three months and applicants need never visit the nation's sandy shores.

The allure? St. Kitts citizens can travel without a visa to more than a hundred countries, including Canada and all of Europe. They pay no personal income taxes, and the island's remote location in the West Indies serves as a safe haven, should the need for a quick move ever arise.

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