The government decides to suspend the Citizenship by Investment Program (CIP) after concerns arise that a significant amount of revenue earned through the CIP has not been received by the relevant authorities. Prime Minister Hon. Jotham Napat explains that there is an agent who handles over 300 clients, with a total of about 15 billion Vatu, but this money has never reached the government.

During day two of Parliament, the Speaker of Parliament announces that the government expects to raise over 7 billion Vatu from the CIP in 2025. In response, Leader of the Opposition, Hon. Ishmael Kalsakau, asks how the government plans to reach this target after suspending the program. “Can you clarify whether the figures are realistic in the current situation where the CIP is suspended?” Hon. Kalsakau inquires.

Prime Minister Napat responds that an audit will be conducted to determine where the missing money went. He states that the government suspends the program to investigate these issues. “The government starts this program with the intention that the money collected would be used for investments in areas like coffee, cocoa, tourism, and marine industries. But so far, no investments are made,” emphasizes Hon. Napat.

The Prime Minister further explains that the CIP is designed to generate revenue for the government. However, due to the unreceived revenue, the program is put on hold. He also mentions that there are 10 agents involved in the program who fail to make the expected investments. “Since the program begins, we have not seen any investments. It’s time to address these problems,” Hon. Napat states.

The government pauses the Citizenship by Investment Program to allow for a full audit and to recover the missing funds. The goal is to ensure that the program functions as the government’s intention.