Some of the worlds wealthiest have resided here for decades on Paradise Island, private Islands, throughout the family Islands, Lyford Cay etc. with the drug and arms dealers and bad guys and white collar criminals being already entrenched here a long time ago.

For instance there are considerable numbers of individuals resident in Lyford Cay similar to the Izmirlian family and Joe Lewis, capable of multi-billion dollar developments, but they themselves have no confidence in the government of the Bahamas after witnessing decades of shenanigans, corruption and sheer stupidity.

Mr. Pinder must face facts and realize that the Bahamas government is perceived by many as totally corrupt, untrustworthy and rudderless. With the ongoing ducking of a Freedom Of Information Act adding fuel to corruption allegations be they real or perceived.

Alternatively, many resident billion dollar investment able individuals are also some of the worlds biggest swindlers, detestable, untrustworthy and useless individuals that we do not want as citizens or investors and wish they would renounce residency as well.

This is a two edged sword with a very fine dividing line between who we want and don't want as citizens of the Bahamas.

The qualifying criteria cannot simply be billions of dollars in assets or we will be inundated with the worst of the worst seeking refuge and black money laundering.

Although a positive idea with very good potential, any such initiative will have to be well policed by an "independent investigative investment body" that would be less susceptible to political abuse and corruption............Our two main specialties.

For being born in an independent Bahamas Mr. Pinder surely has an old-view of the world. I submit that the focus for the Bahamas should not be based on attracting wealth but instead on building it with their own hands and might. You build wealth Mr. Pinder by improving education and training and by increasing access to technology and capital. The Stafford Sands model has served us well but for Pete's sake can we please show some sign of intellectual dynamism and evolve it?

I agree with both comments above. Becoming a Bahamian citizen should a privilege that is reserved to persons that love this country and are dedicated to build the country with all their skills and talents, and if needed some of their money. What I see though is that we let people in that have an accounting/checkbook mentality - all that matters to them is what expenses they have to incur in order to save taxes and sometimes these people even park their families and the dog in Lyford Cay or Old Fort or Albany for a few years. Having this said though, most if not all of the crooks that set foot onto the island or are residents on the island (and if you google them, there are more of those than we should have) were "let in", have a residents permit etc. only because of their money, wealth and/or promises - whether empty or not. I have seen good people being denied citizenship and bad people been given citizenship and the difference was simply money and greed on behalf of the decision makers - sometime perceived political affinities of the candidates.

The reality of the economic citizenship is a checkbook mentality, these people will not spend any time here, are not here for the love of the country or the Bahamians. They will tolerate all the shortfalls (BEC, corruption, lack of services and goods, limited lifestyle choices) only because the $$ add up being in the Bahamas. I am a firm believer that a Haitian living in the Bahamas, that is a thankful, hardworking person is a better candidate for Bahamian citizenship than a flight-by-night white collar criminal that defrauded clients.
Having said this, there is a group of persons that suit the profile of an economic citizen. There are many countries with wealthy families that are seriously at looking to relocate due to political or economical distress (U.S., Venezuela, Ecuador, Mexico, Russia, Iran, Ukraine, China etc.) and the ability to buy land, run a business or build a factory and proximity to the U.S. are key components that make the Bahamas attractive as one of the options for families to find a new home. The ability for economic citizenship puts the Bahamas on their list of countries to choose from. So discounting the merits of Economic Citizenship would be wrong, however I am afraid that the Government, its members, will not be able to look at this approach from any angle other than just $$ piling up for themselves. (yes and there could be the possibility that an economic citizen may obtain voting rights only after a period of time).

This is all preamble for the terms of the EU-EPA agreement we have signed onto,
For the free movement of goods AND Services.
They will come here with rights Equal to the rights of Bahamians and the Government will not be able to extort hefty investment requirements or Work permit fees.
Non discriminatory clauses including taxes and market access.
Think about that.
No discrimination geographically or by nationality of signatory nations.
Same with the CARIB-CAN trade agreement, which is lumbering ahead more slowly.

And it will be a very good thing. The way that a country advances, is to throw open its doors to skilled people from everywhere. These people create jobs, diversify the economy and make creative solutions to pressing problems. For example, what if the government cooperated with private industry to solve the Haitian problem? Suppose that we created work for the illegals in the salt mines at Mayaguana? We would be able to regulate them. They would get what they want ~ a wage to send home, and the population of Mayaguana would grown and that would spur development. Many would remove themselves from Nassau for the work that would be slightly higher paying. All we need is someone with vision, capital and marketing know-how to do this.

The wealth of the western world was build using the same formula banker. We forget that's how Negroes ended up on this side of the world. This side of the world needed labor and that labor was brought here although in a forceful manner it was responsible for revolutionizing the economies of the New World. Even though the negro Bahamian was intimately part of this economic revolution, he is totally fearful of it. The bar council don't want no foreign lawyers practicing here and the average John Doe don't want no foreign negro here either.

Correct Banker in the first part of your comment, however the inevitable marginalization of the majority of Bahamians and the associated increase in Crime will become a disincentive proportional to said influx.
A split society will require many high walls and personal security entourages.
Looks south to see what that looks like.
I do not think the people of Mayaguana would like your suggestion however.