"therefore other countries will stop respecting Estonian citizenship to maintain selectivity".
This has already happened in St Kitts[1][2]. They sold citezenship with very few non-financial requirements and now other nations have started screening travellers from there more aggressively, requiring visas, etc.
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The cynical read on the same statement is "therefore other countries will stop respecting Estonian citizenship to maintain selectivity".
Shipping's been done under flags of convenience for years, but I suspect a lot of people will be deeply unwilling to walk that road for residence.
This has already happened in St Kitts[1][2]. They sold citezenship with very few non-financial requirements and now other nations have started screening travellers from there more aggressively, requiring visas, etc.
[1]https://en.wikipedia.org/wiki/Saint_Kitts_and_Nevis_passport [2]http://www.npr.org/sections/money/2016/03/02/468953007/episo...