Should Countries That Sell Citizenship Disclose Their National Debt to The Buyer?

Research output: Contribution to journalOnline ResourceProfessional

Abstract

The national debt burden is borne by the public. If you are a citizen, you are part of "the public".
We are living in exceptional times; debt burdens are high and the need for revenue is dire. Citizenship by Investment (CBI) laws allow the sale of citizenship without substantial naturalization periods, a contested – but overall effective – way to address sovereign financial predicaments. Yet, CBI is itself but one aspect of the broader concept of citizenship. Citizenship comes with multiple overlapping – and at times deeply conflicting – dimensions that are likely irreconcilable. The national debt burden, for example, which is borne by the public, is one such potentially irreconcilable dimension. If you are a citizen, you are part of “the public” and, consequently, partly responsible for paying back the public’s debt. Debt may be incurred
individually, as well as in the name of a body politic. High levels of such public debt may lead to debt crises.
Original languageEnglish
Number of pages3
JournalInvestment Migration Insider
Publication statusPublished - 27 Sep 2020

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