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(SNO) — Saint Lucian Nestor Alfred has been named the chairman of the Citizenship by Investment Program Association (CIPA), a regional body that is made up of Citizenship by Investment (CUI) unit heads of countries that have such investment programs.
Alfred, who is head of Saint Lucia’s Citizenship by Investment Unit, was appointed on January 31.
CIPA is a regional body made up of the CIU-heads of the Caribbean’s five citizenship by investment programs – Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, and Saint Lucia.
It was formed to forge closer cooperation and coordination among the five countries.
Alfred replaces Les Khan, who was chairman of the body for 18 months.
The chairmanship of the body normally lasts for one year.
Alfred told Investment Migration Insider, an online platform that shares news on Citizenship by Investment programs, that he was taking over when there is a lot of negativity surrounding the industry.
“The obvious questions is: what role can I play to turn this into a positive? My answer would be that, collectively as heads of the respective CIUs, we must work tirelessly in ensuring there is a sustained level of integrity within the programs,” he said.
Alfred said regional countries with the programs must be prepared to share information.
“We must be prepared to talk honestly and openly and we must be prepared to speak with the policymakers in bringing about the right legislative changes,” Alfred stated.
In 2018, Saint Lucia earned $22-million from its Citizenship by Investment Program.