Former IPL chief Lalit Modi has applied to surrender his passport to the Indian High Commission in London, and acquired the citizenship of Vanuatu, a tiny island nation in the South Pacific, the Ministry of External Affairs confirmed on Friday. Vanuatu has a popular citizenship by investment (CBI) or “golden passport” program, which allows wealthy individuals to purchase its passport. Buying citizenship CBI or economic citizenship allows individuals to acquire citizenship in a country by making significant financial contributions to its economy. Countries around the world offer foreigners citizenship to attract investment and stimulate economic growth. Story continues below this…