The Prime Minister of Saint Lucia has announced recently, CIP contributed to the economy of Saint Lucia – EC$121 million in 2023/2024, during his presentation the 2024-2025 Budget Statement for Estimates of Revenue and Expenditure.
He said, $64.1 million was received by the National Economic Fund. From that
amount, $45 million was transferred directly into revenue. A further $39.5 million was received from Bonds but is included in Bond financing this year.
For year 2024/2025 it is projected that the CIP will contribute directly to revenue $75 million.
Philip J Pierre – Prime Minister of Saint Lucia
Saint Lucia is expected to sign MOU of CIP agreement with other four CIP nations, paving the way for stricter regulations and price increase, amidst concerns expressed by US/EU/FATF/OECD and other organizations.
The Prime Minister has already announced his facebook post, that “fully supportive” of CIP harmonisation with other countries towards greater regional cooperation.
I believe that the best way to do so is through collective and coordinated regional action. As it relates to the Citizenship by Investment Programme [CIP], Saint Lucia is fully supportive of the Agreement signed by the OECS CIP countries. We hope to sign the Memorandum of Agreement once it becomes possible.
Philip J Pierre – Prime Minister of Saint Lucia
