Posts Tagged ‘#saintlucia’

Saint Lucia hails the 12th Annual IREX Citizenship and Residency Conclave a success

CaribPR Wire, Castries, St. Lucia, Sept. 13, 2022: The Citizenship by Investment Programme of Saint Lucia participated in the 12th Edition of the “IREX Citizenship and Residency Conclave” over the past weekend. The two-day event took place in New Delhi, India, from the 9th to 10th September 2022 at the Le Meridian Hotel.

The Saint Lucia Citizenship by Investment Programme was launched in 2016, making it the newest in the Eastern Caribbean region and it also happens to be one of the fastest growing programmes. It was recently recognised as the world’s third best programme according to the CBI Index 2022, published by the PWM Magazine of Financial Times. St Lucia received a total of 78 marks ranking it third out of thirteen countries that were evaluated for the 2022 CBI Index

The “IREX Citizenship and Residency Conclave” is hosted annually to promote residency and citizenship programmes offered by various countries from across the globe to High Net Worth Individuals (HNWIs). Presentations from several citizenship consultants, real estate developers and investment firms took place throughout the first day.

According to statistics from 2017, there were approximately 270,000 HNWIs in India, with these numbers expected to increase to around 950,000 by 2027. India also has the second largest millionaire outflow in the world with numerous individuals and families seeking foreign residency and citizenship.

The Saint Lucia Citizenship by Investment Unit was represented at IREX and gave potential applicants the opportunity to find out more about the Eastern Caribbean island thereby allowing them to explore new investment options.

The CIP of Saint Lucia is an attractive option for applicants seeking alternate citizenship as the minimum investment outlay for a single applicant is USD 100,000.

The geographical location of Saint Lucia makes it an extremely desirable location due to the global mobility that it offers as it is close to many major business hubs in the Americas. The country offers a safe and secure lifestyle in beautiful surroundings, world-class schooling facilities, and a stable currency. The Eastern Caribbean Dollar (XCD) has been pegged at a fixed rate to the US dollar since July 1976.

Saint Lucia is an excellent choice for the investor because business expansion and portfolio diversification is possible as there are many favourable opportunities to plan and spread ones wealth due to the wide range of investment programmes. Backed by a strong due diligence process, the programme is one of the most transparent in the industry as it gives investors and partners access to information on how the funds are used. Investments in countries such as Saint Lucia also tend to offer considerably more stable returns because of reduced political risk from upheavals or conflict.

Saint Lucia also has a large Non-Resident Indian (NRI) community, especially in the business sector. Tourism, real estate, banking and manufacturing are the prominent business sectors in the country, generating almost half of the country’s total revenue.

Obtaining alternative citizenship from Saint Lucia comes with many non-economic benefits as well. These include reduced citizenship application timelines without the bureaucracy, extending citizenship to family, a high standard of living and enjoying the general benefits that come with living in modern, diverse countries. Other key benefits include access to modern healthcare facilities and quality education for the children of investors. Small island countries rank high in terms of freedom of expression, civil liberties, and political rights which all contribute to a high standard of living.

Being an island country, it also offers a tranquil environment; it is home to a pair of dramatically tapered mountains on its west coast with beautiful volcanic beaches along the coast. Saint Lucia is home to numerous spectacular reef diving sites that make it perfect for the adventure enthusiast

Saint Lucia’s CIP programme is highly acclaimed, well-ranked and well-developed which gives individuals from all over the world the confidence that they would be making the right choice if they opted to take up the offer for alternate citizenship from St Lucia.

The IREX Conclave 2022 was a great success and gave investors from all over the world the opportunity to interact with the Eastern Caribbean country representatives and they got a better understanding on the technicalities of the Citizenship Programme offered by Saint Lucia. Investors attending the conclave in New Delhi were able to explore the wide variety of benefits that the Saint Lucia CIP offers, which include:

  • Lifetime citizenship that can be passed on to future generations
  • Efficient and confidential processing of applications
  • Full resident status, including the right to live and work in Saint Lucia
  • No residency requirements.

The Government of St Lucia is meticulous about the use of funds generated through their Citizenship by Investment Programme with funds being utilised in the completion of developmental projects and upliftment of infrastructure, all of which benefit their citizens.

The IREX Citizenship and Residency Conclave was the perfect opportunity for the Citizenship Programme of Saint Lucia to promote itself and for investors from all over the globe to find out about the extensive benefits of investing in their CIP Programme.

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Saint Lucia Citizenship Investment Programme makes top three in the 2022 CBI Index

CARIBPR WIRE, Castries, Aug. 26, 2022: St Lucia took third place in this year’s instalment of the CBI Index – which ranked 13 countries with operational citizenship by investment programmes.

Seen as an industry voice and reliable source for those looking to vet CBI programmes around the world, the CBI Index is published annually by the Private Wealth Management magazine, a publication of the Financial Times, and in partnership with CS Global Partners.

This year, St Lucia was ranked alongside Antigua and Barbuda, Austria, Cambodia, Dominica, Egypt, Grenada, Jordan, Malta, Montenegro, St Kitts and Nevis, Turkey, and Vanuatu.

The CBI Index ranked these jurisdictions across nine pillars including Freedom of Movement, Standard of Living, Minimum Investment Outlay, Mandatory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family and Certainty of Product.

Having recently welcomed Mc Claude Emmanuel to the position of Chief Executive Officer of its CBI unit, St Lucia was recognised its affordable minimum investment outlay, reasonable mandatory travel or residence requirements and ease of application processing.

“This recognition means a lot to us. The CBI Index is a globally recognised report that has been assessing CBI programmes for the last six years and not only will investors gain insight into our programme but it also gives us an opportunity to improve aspects of our programme to increase our scores next year,” said notes Mc Claude Emmanuel, CEO of St Lucia’s CPI Unit.

Investors can become a citizen of St Lucia in as little as 90 days by investing only a minimum of US$100,000 through its National Economic Fund, and busy entrepreneurs are not required to stay in the country for prescribed periods of time.

There weren’t many significant changes in the minimum investment outlays since the 2021 CBI Index, this was reflected in no change in the order of the final scores.

There were also no changes from the 2021 CBI Index to scores under the Mandatory Travel or Residence Pillar – Caribbean nations continue to rank highly in this area.

The country scored 87% overall.

St Lucia scored 9 out of ten for Due Diligence, Citizenship Timeline, and Family.

A very important aspect of any CBI programme is its ability to vet applicants and ensure that only honest individuals who can account for how they make a living are accepted into the programmes.

“We are on an ongoing drive to continuously enhance the due diligence processes of our programme as we are very keen to protect its integrity and value,” noted Mc Claude Emmanuel.

With ongoing geopolitical tensions, special attention is now being given to jurisdictions that offer CBI programmes. The international community is concerned that these programmes may offer boltholes for suspect characters looking to evade the law.

International respect is vital for any CBI programme to thrive, and a layer of ongoing monitoring is becoming a key pillar of reputable CBI Units such as that of St Lucia. Caribbean nations are setting global best practices when it comes to advancements in due diligence processes.

The Citizenship Timeline Pillar looks at the average time taken for citizenship to be secured by the applicant. One of the key merits of CBI programmes is their ability to provide a rapid route to second citizenship; St Lucia was awarded top points for its short turnaround times, which takes three months for citizenship to be granted from the date the Authorised Agent is notified that the application has been accepted for processing.

The CBI Index recognises that the rise of increasingly complex family relationships is driving investors to seek programmes that allow for a more diverse range of family members to be included under a primary application.

As an additional layer of nuance to its scoring system, this year’s CBI Index also draws a distinction between family members who are allowed to apply with and obtain citizenship at the same time as the main applicant and those who can apply at a later stage and because of the main applicant has already received citizenship.

Multiple family member categories were considered, with points being awarded for adult children, parents, grandparents and even siblings. Additional merit was also given to programmes with provisions for family members of the main applicant’s spouse. Additionally, the degree of flexibility within each of these categories can differ radically from programme to programme.

St Lucia scored 8 out of 10 in the Certainty of Product pillar. This pillar encompasses a range of factors that measure a programme’s certainty across five different dimensions: longevity, popularity and renown, stability, reputation, and adaptability.

Longevity measures the age of a given programme while Popularity and renown evaluate the number of applications and naturalisations under each programme per year, as well as a programme’s eminence in the industry.

The reputation of a programme was determined by the amount of negative press or the number of scandals it has been linked to, affecting investors’ broader perceptions of the countries in which they invest. Just as important, however, is evidence that programme funds are being utilised for social good. Points were awarded for a jurisdiction’s transparent use of CBI funds, for example for the development of domestic healthcare, education, tourism and other infrastructure. One of the main ways that investors can become citizens of St Lucia is through its Economic Fund which Mc Claude Emmanuel has said will “benefit all St Lucians by investing in social interventions and assisting the country to be food secure as assistance will be given to local farmers.”

Lastly, adaptability reflects a programme’s ability to rapidly respond to, and sometimes even predict, the needs of applicants and the industry.

St Lucia continues to offer a popular programme with consistently high application volumes, stability with no caps on the number of applications or specific calls to end the programme, and adaptability both in respect of changes to keep the programme functioning during Covid-19 and its swift response to the Russian invasion.

St Lucia, along with Antigua and Barbuda, Dominica, Grenada and St Kitts and Nevis scored seven out of 10 in the Freedom of Movement pillar. St Lucia has access to 15 of the 20 key business hubs assessed in the 2022 CBI Index.

Lastly, St Lucia scored six out of 10 for its decent freedom, GDP growth and GNI scores.

Download the full CBI Index here, to get further insights into the CBI industry and a full evaluation of the CBI programmes of the 12 other jurisdictions in the rankings.

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Saint Lucia repositions Citizenship Programme under new slogan “Beyond the Passport”: CS Global Partners

CARIBPR WIRE, London, July 14, 2022: The citizenship by investment programme of Saint Lucia is one of the youngest economic citizenship programmes in the Caribbean. The government has set up a dedicated Citizenship by Investment Board that oversees all the operations and assists investors while facilitating unmatched benefits for the country and its people.

The Saint Lucia Citizenship by Investment Programme Unit, a statutory body of the government is marketing and repositioning the programme under a new slogan called “Beyond the Passport.”

The Head of the Citizenship by Investment Programme Unit, Mc Claude Emmanuel said the unit is making the programme more effective for locals as well as for investors. He noted that the funds generated by the CIP of Saint Lucia are used for the development of the country, and the impact must benefit every Saint Lucian.

“Funds generated by the CIP are important for Saint Lucia. The government generates revenue from the donation offered through the programme, which is then spent on different development projects island wide. The revenue benefits social sectors, such as schools, healthcare, roads and housing,” said Mc Claude Emmanuel.

He further explained the importance of different investment options, including the National Economic Development Fund, which is also known as the Fund Option, “For the country, the Citizenship by Investment Programme holds immense importance.”

Saint Lucia’s Citizenship by Investment programme is the latest in the Caribbean region and is on par with some of the best programmes in the region. Launched in 2016, Saint Lucia has performed exceptionally well in the 2021 CBI Index, published by the PWM Magazine of Financial Times. It came out top in three pillars of excellence, namely minimum investment outlay, mandatory travel or residence and ease of processing.

Saint Lucia has been moving ahead with plans to position itself as a notable alternative to global investors in the investment mobility industry. As the world is dealing with uncertainty, entrepreneurs have been looking for stable, safe as well as peaceful destinations in which to move or start their businesses. Economic citizenship is the right choice for them. Investors can protect and grow their wealth by investing in alternative citizenship, which helps in portfolio diversification as well as wealth planning.

An investor can apply for alternative citizenship of Saint Lucia through the National Economic Fund Investment, most commonly known as the Fund Option under which the investors contribute to the country’s socio-economic development. The minimum investment under this investment option is USD 100,000.

The CIP of Saint Lucia is backed by a strong, robust and vigorous due diligence check process. The Saint Lucia government has been working closely with regional and international third-party firms to conduct background checks. The Programme is one of the most transparent in the industry, giving investors and partners access to information on how funds are used.

Citizenship by Investment Programme of Saint Lucia provides the following benefits, including:

  • Makes the investor a global citizen.
  • Assists the applicant in portfolio diversification and wealth planning.
  • Helps in expanding business overseas.
  • Provides citizenship for life, which can be passed on to future generations.
  • Gives an opportunity to spend the rest of their life in a peaceful and safe environment.

The investor can apply for the alternative citizenship of Saint Lucia via the following steps:

Step 1: Completion of the application by applicants.

Step 2: Submit the application at the CIP Portal

Step 3: The Documents are then verified by the CIP Unit and undergo a strong due-diligence process.

Step 4: The board takes a decision on the selection and rejection of the application.

Step 5: The certification is the last process of the application.

About Saint Lucia:

Saint Lucia is a small, mountainous Eastern Caribbean Island. It is 21 miles south of Martinique and 26 miles north of Saint Vincent and the Grenadines, all part of the Caribbean Sea’s Lesser Antilles islands. Saint Lucia’s lush landscape has a tropical rainforest with two lava spires called Pitons, which are the standout natural features.

The small island country is one of the world’s most beautiful and well-known destinations for travel enthusiasts. The attention of the travellers is largely drawn by the island’s majestic Piton Mountains, refreshing waterfalls, spectacular hiking trails, drive-in volcano, beautiful beaches, as well as exclusive restaurants.

The island is fondly called the Helen of the West as its beauty is comparable to Helen of Troy.

With regional specialities including pepperpots, langouste, and bouyon, Saint Lucia is a well-known Caribbean destination for those who enjoy trying new foods from different cultures. Seafood-based cuisine and locally cultivated products from farms to tables define the island’s culinary heritage.

Many people love travelling to the Caribbean country for its rich cuisines and organic agro products. The local food is influenced by French, East Indian and British dishes. The National Dish of Saint Lucia is Green Fig and Saltfish. The dish is typically prepared on weekends as well as especially during the Creole Day Festival, which is hosted in October.

Not only that, but Saint Lucia also endeavours to have its own coffee speciality in the region, which according to Deputy Prime Minister Ernest Hilaire will boom the tourism sector. He recently led discussions with an investor named Olmedo Vill, who aims to recommence coffee production in the country. He said over 13,000 plants will be cultivated by 2024. Not many people know that in the late 1700s, Saint Lucia and Martinique produced more than half of all coffee consumed in Europe. The country had more than 9 million coffee plants by the 1800s because of the country’s cool, shaded, volcanic ground and which is infused with citrus and spices.

Saint Lucia’s beautiful mountains, jungles, coasts, and historic locations showcase history and beauty and a great sense of living poetry add more touch to its tranquil environment.

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