Some 38 people have been granted citizenship in Saint Lucia through the Citizenship by Investment Programme (CIP) it was revealed on Tuesday at a CIP public consultation.
Chairman of the CIP board Ryan Devaux said these citizenship were granted after 11 applications were approved. These persons are from the Middle East, North Africa, North America, Europe, Rusia and Asia.
In total, 14 families and four single applicants have applied to CIP to date, which comprises a total of 65 individuals. Three applications have been denied and four pending.
Devaux said while the processing period for each application varied from 42 days to 72 days, he reminded the audience that there is a strict compliance and due diligence process for the CIP.
He disclosed that five purchases of bonds have been approved totaling a sum of US$2,725,000, while donations to the National Economic Fund have been approved totaling a sum of US$1,475,000.
Government had promised to relaunch the CIP and strengthen it after criticizing the previous administration sayin that it lacked accountability and transparency.
Saint Lucia became the fifth Eastern Caribbean nation to introduce CIP in January of this year.
The United States government has warned regional countries offering the CIP, to refrain from issuing “unless the issuing government is confident beyond a reasonable doubt that the individual is a bona fide applicant”.
So far, there has been tremendous interest in several projects precisely because of Saint Lucia’s tourism product.