In an exclusive interview with Khaleej Times, Alfred said that St. Lucia is the most promising destination for people who want to identify themselves with a second home. He said the prime objective of CIP is to attract “reputable” clientele from around the world, and ensure the development of the Caribbean island on modern lines.
“Our prime concern is security considerations as we evaluate credentials of applicants for citizenship.” “We make sure that wrong people do not end up having our passport, and in this regard, we have a fool-proof mechanism to vet an applicant’s background checks and the veracity of finances,”
He said this is why St. Lucia’s CIU programme is run by the government, and “it has not been outsourced.”
Alfred, who heads the five-member Board of Directors, said, “We have studied our strengths and pitfalls minutely, and we do have proper legislation in this regard. A mechanism of effective monitoring, scrutiny and intelligence sharing with respective states make it a competitive programme and brings in due credibility for international citizens who go on to invest their money and trust in St. Lucia.
It is one of the Caribbean’s newest economic citizenship options and has won laurels for its integrity and utility.
St. Lucia will never grant citizenship unless intelligence clearance is obtained. At the same time, he said, those who have ever been denied a visa from any respective country with which St. Lucia has a visa-free travel protocol are ineligible. He said the diligence committee is mandated to look into money-laundering, terror financing, tax evasion and concealment of truth issues before making a final decision on eligibility. Nonetheless, Alfred said that there is a right to appeal against denial of security clearance, and the diligence committee will look into the points raised by the applicant to ensure that reservations are addressed, accordingly.
This is why St. Lucia has one of the greatest transparent citizenship by investment programmes in the world.
Last year 78 applicants were awarded citizenship. While we received more than 279 applications in the year 2017-18
Alfred confided that the government is also studying the options of diversifying the portfolio for citizenship and attracting foreign investment is the main goal.
A CIP top officer said, “We do not discriminate by caste, creed and region, and welcome people from any part of the world to apply for our citizenship programme, and that also includes people in diaspora or a third country.
Alfred said that the CIP is eager to create new synergies from around the world and build St. Lucia as the haven for international investments. “Our investment programme is credible, enjoys the highest integrity and is secure enough.”
Saint Lucia CIP currently offers four investment options for citizenship
- Donation: The National Economic Fund grants citizenship on a donation of $100,000.
- Real Estate: St. Lucia plans to tap investors for its five-star hotels and high-end restaurants for $300,000.
- Business: Approved Enterprise Programme with a minimum investment of $300,000, in the fields of infrastructure, medical universities, etc.
- Government Bonds: $500,000 in five-year bonds, etc.
Source: khaleejtimes.com
