A number of struggling Caribbean islands are selling citizenship to generate revenue, and it is a trend that appears likely to grow.However, Bermuda would do better to model itself on ‘super powers’ such as the US, UK and Canada, and attract high-value residents to live on and invest in the Island and, in return, open up the opportunity for them to be considered for permanent residency and possible eventual citizenship.So says former Premier Sir John Swan, who has previously presented the idea as one of a number of ways that Bermuda might go about rejuvenating its economy. He is aware of the Caribbean trend, but favours the more rigid programmes adopted by countries like the US.Caribbean islands selling citizenship to generate revenue was highlighted last week in an overseas news article, which revealed a foreigner can qualify for citizenship in the Dominica Republic for $100,000, while someone donating $250,000 to a fund for retired sugar workers can gain citizenship of St Kitts and Nevis (alternatively they can receive citizenship with a $400,000 minimum real estate investment). There is no obligation for the new citizens to ever visit or live on the islands. For some applicants the attraction is simply to gain a more widely recognised second passport for hassle-free travel.A St Kitts passport, for example, provides visa-free travel to 139 countries, including all of the European Union.Antigua and Barbuda is in the process of launching its own citizenship programme to generate money, while the island of Grenada has hinted it might revive its citizenship-for-sale programme.Sir John said the model adopted by Dominica and St Kitts is not what he suggests for Bermuda. He favours a system that attracts substantial investment and intellectual capital, which in turn would lead to employment and business opportunities for Bermuda.“What I had in mind was a policy close to the practice in the United States, Canada and the United Kingdom.“I have suggested repeatedly that we need to attract high-value residents who live and invest in Bermuda. Those who qualify would initially be considered for permanent residency and in time citizenship,” he said.The US programme allows visas for individuals who invest $1 million in a US business employing at least 10 people, or $500,000 in designated economically depressed areas.“The investor is then able to seek permanent residency after two years and citizenship after five. Other countries such as the UK, Canada and Australia have similar citizenship programmes, although the demand has been so great in Canada that it closed its programme to new applications last summer.Favouring the system used by these countries, Sir John said: “The common denominator among the super powers like the United States, Canada and the United Kingdom is that they simply want to attract substantial investment and intellectual capital that would lead to employment and business opportunities. Our aims are similar to those of the super powers.”