Attorney says Saint Lucia to make significant changes to CIP

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Attorney says Saint Lucia to make significant changes to CIP
Nicholas John
Nicholas John

An attorney for the Citizenship By Investment Programme (CIP), Nicholas John, claims that the Government of Saint Lucia will be making significant changes to the programme effective January 2017.

In John’s post on LinkedIn on Thursday, December 29, 2016, he said that Prime Minister Allen Chastanet has issued an amendment to the Citizenship by Investment Regulations No.89 of 2015.

The following changes have been made to the programme:

1) Removing the requirement for a sworn affidavit to declare financial resources of at least US$3,000.000.00.

2) Removing the requirement for a successful applicant to attend in person such office in Saint Lucia or before any Saint Lucia Embassy, High Commissioner or Consulate to take the oath or affirmation of allegiance. This is replaced with the requirement that the applicant supplies a sworn declaration before an Attorney-at Law, Notary Royal, Notary Public, Consular Officer of Saint Lucia or Honorary Consul of Saint Lucia.

3) Removing the maximum of 500 applications per year.

4) Amending paragraph 1 of schedule 2 to change the qualifying contribution amounts to the Economic Fund. The new qualifying contribution amounts are as follows:

Single Applicant: US$100,000.00

Applicant with spouse: US$165,000.00

Applicant with spouse and up to 2 dependents: US$190,000.00

Additional dependents: US$25,000.00 each

5) The Government Bond option has been reintroduced but there is now an administration fee of US$50,000.00 per application.

John said these changes which takes effect from January 1, 2017 will make the Saint Lucia programme the best value for money in the Caribbean, whether for single applicants or families.

“Contributors to the National Economic Fund do not have to pay any administrative fees. Saint Lucia is now the cheapest option for an applicant with a family and is on par with Dominica for a single applicant.

However, since the processing fee in Dominica is higher than that of Saint Lucia, Saint Lucia is also cheaper and best value for a single applicant.

With these changes, an applicant is no longer required to demonstrate a net worth of US$3,000,000.00 to qualify. Further, the need to travel to a Saint Lucian Embassy or Consulate office to take the Oath of Allegiance has been done away with. This will eliminate the current cost and inconvenience associated with taking the Oath of Allegiance.

In Parliament on Tuesday 20th December 2016 the Prime Minister also announced that early in 2017 another option for qualifying for citizenship will be introduced.

This will be the establishment of a Saint Lucia Sovereign Wealth Fund into which applicants can invest for a stipulated time. This fund will be managed by professional investment managers and will provide investors with a greater assurance of the return of their capital and a return on their capital than currently exists with the real estate option in the Caribbean.”

Saint Lucia offers the following investment options for qualifying for citizenship by investment:

Contribution to the Saint Lucia National Economic Fund – starting at US$100,000.00

Investment in an approved real estate project – minimum investment of US$300,000.00

Purchase of Government Bonds – starting at US$500,000.00, and

Investment in an approved Enterprise Project.

The opposition has been questioning the legitimacy of such claims and has asked Prime Minister Chastanet to clarify whether the statements are true or not.

(7)(12)

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21 COMMENTS

  1. HELLO MR NICOLAS JOHN
    THANKS TO INFORM OBTAINING ST. LUCIA PASSPORT
    HOW LONG IT TAKES AND WHAT IS THE LEGAL FEE
    AND WHERE SHOULD PICK UP PASSPORT

    (0)(0)

  2. To say that this is continued decay of a beautiful country is an understatement. We're selling our island away to just about anyone who can afford it. I oppose any program where any foreigner can simply pay a fee and get a St.Lucian, Dominican, US, or a passport from any other country.

    This is to the Caribbean what the financial crisis was to the US and other leveraged countries! Politicians have squandered away St.lucia's resources and financial foundation for so long that they now come up with schemes that again will line their pockets. What's next, kicking all the locals out for these foreigners.

    This laundry list simply says, we don't even care for you to come to the job interview anymore. It takes too much time to get your cash...simply send it in and we will mail you a passport. Desperation!! Look at the Caribbean Islands. Failed fiscal and economic policies, career politicians with proven track records of failure, lapsed infrastructure developments, ballooning yearly budgets, countries up to their eyeballs in debt, and more debt. We have a history of shitty decisions made by our politicians. And this is no different.

    Now they are asking us to sell the one thing our forefathers fought so hard for...our Sovereignty. What's saddest is how brainwashed the public is on this. We simply drink the cool aid.

    (2)(0)

  3. Wow!!! $100,000 US for a Saint Lucian passport. Every lowlife, scum of the earth person including terrorists will start flocking to Saint Lucia. Someone asked who will want our passport? How about criminals and terrorists who have problems getting into US, Canada? This passport will open doors for these people.

    (0)(0)

  4. This CIP Attorney, who happens to be Allen Chastanet closest top advisor, which is the husband of the speaker of the house and we have no problem with that! Wow. Maybe our population is too small and we can't find anyone else, so we can at lease look credible. The more things change the more they remain the same.

    (12)(3)

  5. Guys lets be honest with ourselves how many of us invest in our Country we do not open any businesses
    all we invest in is big houses and expensive cars THE LUCIAN LIFE STYLE wake up St. Lucia I am sure if we were, there would be no need for CIP.

    (6)(1)

    • Do you know of the hassle that st.lucians have to through just to rent a booth assou square, so imagine a full time business. To make matters worse they can't afford the envelopes.

      (0)(0)

  6. SO LET ME GET THIS STRAIGHT? YOU PEOPLE NEVER HAD A PROBLEM WITH CIP? LET ME ASK...WHY WOULD ANYONE WANT A ST. LUCIAN PASSPORT? SERIOUSLY....WHY WOULD ANYONE WANT A LUCIAN PASSPORT? I ASK AGAIN....WHY WOULD ANYONE WANT A LUCIAN PASSPORT? OBVIOUSLY THAT QUESTION CANNOT BE ANSWERED! SO WHY THEN WOULD KENNY NOTALENTANTHONY AND ERNESTO PINOCHE HILLAIRE INSTITUTE SUCH A PROGRAMME ON THE PEOPLE OF ST. LUCIA GIVING CHASTANET THE EASIER ABILITY TO CHANGE IT? IM NOT EVEN GOING INTO WHETHER IT IS WORST FOR US NOW WITH THE CHANGES. IT WAS KENNY NOTALENTANTHONY WHO FIRST PROPOSED THIS STUPID PLAN TO SELL PASSPORTS TO UNWORTHY PEOPLE IN THE FIRST PLACE. HIS INABILITY TO GROW OUR COUNTY'S ECONOMY LED TO ALL THE KENNY SCANDALS. FROM SELLING THE FREAKING SEABED IN A SECRET DEAL TO CIP, ALL WHILE PJP AND THE REST OF THE RUBBERSTAMPERS STOOD BY READY TO RUBBER STAMP ANYTHING THE GODFATHER PUT FORWARD. NOW ALL OF A SUDDEN THEY ARE PATRIOTIC? I BELIEVE THAT CHAS IS ABOUT TO DO WITH CIP WHAT NEITHER OF THEM COULD. THAT IS ACTUALLY BRING INVESTMENT INTO ST. LUCIA. AND THEY ARE SCARED. THEY ARE VERY SCARED. CHAS ABOUT TO PULL A 16-1 CAUSING THOSE WHO DIDNT GET KICKED OUT IN THE LAST ELECTION TO SEEK JOBS WITH THEIR FAVOURITE CONSTRUCTION COMPANY. CIP...CHAS IN POWER!

    (4)(9)

  7. Through all the brouhaha about CIP you are ignoring the impact on the credibility of our passports. Already the US State Department has warned Skn and Dominica about inadequate vetting of new "citizens". If this carries on a 758 passport will not get you anywhere.

    (7)(2)

  8. Now I am seeing big time corruption ahead. I am now ashame to be a st.lucian and to make matters worse, this guy is the attorney for the program ! God please help us , this world is coming to an end.

    (17)(6)

  9. These new proposals correct absolutely nothing. In fact, they make the cheapening of Saint Lucian nationality much more certain and final.

    Now, don't you come asking me to stand up and sing any national anthem, or not believing that the white band in the flag means anything but this. The psychologically-damaged creator did little but to reinforce the superiority of the lighter-skinned people, a fact to which its creator could not honestly admit. So much for national symbols. Stupid Looshans. All that matters is womanizing and drinking alcohol.

    (33)(1)

  10. This is shameful. I nothing short of a wholesale sellout. Where will our children live and work. Remember guys we are have just 238 square miles. Some large ranches are bigger with mire habitable space. Our forebears paid for our homeland with blood sweat and tears literally now it will be sold out inch by inch from under our feet.

    (21)(2)

  11. I do not see much of a problem with that proposal, however, my issue is when those people get her and start doing what the locals should be undertaking, like opening Pizza Parlors etc. that my issue. Also, the price of land should be reduced or maintained at the same rate for locals.

    If you confess with your mouth that Jesus is Lord and believe in your heart that God raised him from the dead, you will be saved.

    – Romans 10: 9

    (2)(14)

  12. Mate is the Attorney for CIP? Well nou fini. What have we done now? We are giving away our nationality for absolutely NOHTHING!

    (20)(4)

    • Its not giving away for absolutely nothing. This country was sold for a bunch of bluffs and a few pennies, right now he's selling us for a bigger profit (with perks even). In a business perspective Chastanet has done quite well. We fail to realize that the Chastanets are businessmen and they are simply running this country like a business; buy cheap sell high.

      I don't think that Lucians should be complaining about people buying our Citizenship since we DON'T VALUE it. We only take being St.Lucian seriously on Feb 22 and most do it as a fashion statement or fad( National Day is just a blocko day),during the rest of the year we take no pride in our country and see it only for what it can profit us. In reality we are only a nation by name not at heart. We will not learn until we find our selves as second class citizens or foreigners in our own land or we may just fade into obscurity like is the fate hollowmen.

      (25)(10)

    • I thought the passports were being sold for much more, the rearrangement was for these guys to get their cut, how can you gain citizenship without taking the oath to show that you Will abide by the laws and Statutes of the country of choice. I will end up selling my passport just like me up with one of these guys.

      (6)(2)

      • So since the passports selling so cheap DSH will need a whole tonne to sell if they have to make the money for the development XD

        (3)(1)

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