economy
How Mehul Choksi became a citizen of Antigua
May 29, 09:05

In 2017, fugitive diamantaire Mehul Choksi became a citizen of sunny Antigua and Barbuda, a Caribbean island nation. Apart from being a tropical paradise, the country has zero income tax and doesn't tax foreign income, capital gains, gift or inheritance, along with tough laws on citizens' privacy and extradition. Antigua is back in news due to India's attempts to extradite Choksi. Its citizenship investment program requires an investment of $100,000 and in under 3 months, a family of four can live there. Typical of those designed for jetsetting super rich, the program comes with access to 151 nations such as Hong Kong, Singapore, UK and the Schengen Area. American millionaires are biggest takers.