Government of Montserrat

MONTSERRAT REMOVED FROM OECD LIST OF POTENTIALLY HIGH RISK SCHEMES

The Organisation for Economic Cooperation and Development (OECD) has removed Montserrat from its list of jurisdictions that offer potentially high risk schemes, such as residence or citizenship by investment programmes.

 
This removal follows quick decisive action by the Ministry of Finance and Economic Management under the portfolio of the Minister of Finance, the Honourable Donaldson Romeo.

 
Following reports that Montserrat was included on the OECD’s list published on October 16, 2018, the Ministry of Finance and Economic Management contacted the OECD and other relevant bodies, to include Her Majesty’s Treasury in the United Kingdom (UK) on Friday, October 19, to ascertain the reasons for Montserrat being listed.

 
During further communication with the OECD over the weekend, the organization was informed that up until 2014 only 11 persons were granted residency under the Economic Residency scheme which caused us to be placed on the list. The OECD Officers were also informed that since 2014, when the current administration assumed office, no applications for Economic Residency has been approved.
 

Subsequently, the Ministry requested Montserrat’s removal as a matter of urgency and the OECD on Monday, October 22, published an updated list, which no longer includes Montserrat.