St. Lucia now runs least expensive Citizenship by Investment Program

By PR Newswire

st-lucia-passport

PR NEWSWIRE – The Honourable Prime Minister of St. Lucia, Allen Chastanet has announced new improvements made to the citizenship by investment program.

The changes will take effect from 3rd January 2017, which when all fees are calculated will make St. Lucia’s Citizenship-by-Investment program the least expensive ahead of the popular Commonwealth of Dominica passport program.

Jeremy Savory, CEO & Founder of Dubai based Citizenship Processing Firm, Savory and Partners welcomed additional cost-effective options for his firms’ clients:

“Dominica currently leads the way in terms of cost effectiveness in particular for single applicants. With the new changes in St. Lucia, although the difference in price is minimal, at least Immigrant Investors have another option at half the price of other similar second passport programs. As we are St. Lucia Government Authorised Promoters, but also accredited for Grenada, Antigua and Dominica it means we can remain impartial in the advice we give to families considering Second Citizenship in 2017.”

The key changes are the following:

  • The requirement for an affidavit to declare financial resources of at least US $3,000,000 has been removed.
  • The contribution amounts to the Economic Fund have changed. The new qualifying contribution amounts are as follows:
    • Single Applicant: US$100,000 (Used to be US$200,000)
    • Applicant with spouse: US$165,000 (Used to be US$235,000)
    • Applicant with spouse having up to 2 dependents: US$190,000 (Used to be US$250,000)
    • Additional dependents: US$25,000 each (Same as before)
  • The Government Bond Option has been reintroduced and the new administration fee is US$50,000
  • The maximum of 500 applications per year has been removed which means more investors are welcome to apply for the program.

The other key criteria remain the same:

  • A minimum investment amount of US$300,000 in government approved real estate project.
  • An investment in an approved enterprise project starting from $1,000,000
  • Purchase of Government Bonds starting at $500,000.

More information can be found here: http://www.savoryandpartners.com

Savory & Partners is a British family-owned company with roots reaching back as far as 1794 when the Savory family were the pharmacists to the British Royal Family. Today the company has established itself as the leading second citizenship firm in the Middle East with Authorized Agent status granted by the Governments of St. Lucia, Dominica, Grenada, and Antigua and Barbuda. Savory & Partners are trusted by governments around the world to source individuals of the highest caliber by providing the highest level of service through experience, knowledge and trust, guaranteeing successful applications.

Savory & Partners are St. Lucia Government Authorised Promoters in the Middle East.

(6)(7)
This article was posted in its entirety as received by stlucianewsonline.com. This media house does not correct any spelling or grammatical error within press releases and commentaries. The views expressed therein are not necessarily those of stlucianewsonline.com, its sponsors or advertisers.

43 comments

  1. After reading all the comments, and the ramblings of armchair philosophers of how to run a country, does anyone really UNDERSTAND the Citizenship by Investment Program? Has anyone taken their time to research if it is really beneficial to the island? Investigate the pros and and cons of such a program? Instead, from what I have read, are people's assumptions on rumours, and nothing constructive and/or intelligent critical thinking on their part. Just shows the level of St Lucia's literacy.

    Read, research, and educate yourselves, before casting stones on such a program - no-one on this page, seems to have done that. Like every investment to be undertaken, there are the pros and cons; with mostly the "pros" winning. Visit the St Lucia government website for more information. Visit other countries websites on CIP to see if this is a program worthy for St Lucia. Then you can cast intelligent judgements.

    In this day and age "yo dee" is passe.

    (0)(9)
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  3. This the worst investment initiative I have heard of. Whoever came up with this idea did not do an in-depth study. Sounds good for short term solutions but will have devastating effects in the long term.

    (3)(1)
    • We need to blame Nicholas John for any negative lnternational backlash st.lucia receives from this cip arrangement. This gentleman is just a common lawyer, never regarded for any outstanding negotiation skills. Allen Chastnet has surrounded himself with too many idiots and it's starting to show big-time.

      (7)(1)
    • Have YOU done an in-depth study of the this initiative? St Kitts is doing quite well ....

      (0)(0)
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  5. ========
    Anonymous
    January 4, 2017 at 1:16 PM
    These arrangements are myopic. They leave HUGE gaps in terms of any direct or immediate benefits for the murderous roving gangs of youth thugs causing mayhem, and declaring war on one another and on law-abidding citizens.

    Saint Lucian politicians and especially our political directorates appear to be incapable of riding a bike and chewing gum at the same time. The framers have clearly not done the necessary homework. They are reduced to "Mimic Men" --- just copying only what they can see around them. Blind people with no vision, with no other sense of purpose but to copy.

    The current arrangement betrays a great ignorance of the basics of economic development in the 21st century. The advisors should all be fired!

    The arguments made in defence of the new configuration of the CIP, amount to little more than immature economic prattle. Economic drivel. No deep thought has been devoted to remedying the scourges of high unemployment of this youthful population. None at all.

    Even if we get a satisfactory level $100,000 payments, that in itself, does not get rid of the roving bandits from the ghettos, from the streets, nor from preying on visitors and locals alike.

    (14)(0)
    =======

    Well said.

    (6)(0)
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  7. Barry Windham DSH

    ALL OF YOU WHO WERE OK WITH KENNY INTRODUCING CIP, NOW HAVE THE BIGGEST PROBLEM WITH IT. IM PERSONALLY AGAINST CIP. IN FACT I DONT GET THE NEED FOR CIP. CANT SOMEONE JUST COME HERE TO INVEST WTIHOUT BECOMING A CITIZEN? KENNY WAS ALWAYS A COPYCAT PM. NO ORIGINAL IDEAS, JUST HE AND HILLAIRE MAKING SECRET DEALS 3 DAYS BEFORE ELECTIONS.

    (10)(8)
    • What's your hang up with Kenny. That's why he is no longer around. Keep dwelling in the past and stop blaming the ones one did not implement this program

      (2)(1)
    • This is the best take on CIP. DOnkey droppings! All the fuss now. Saint Lucians are to damn partisan. The gulp down any nonsense from those they vote for at election time.

      CIP? Look it!!!!!!!!!!! You idiots!

      (2)(0)
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  9. Basically our island is being prostituted by those who with their families will never feel the pain of what is about to hit us. They are the ones with the land, money, house and businesses, who will be able to afford the same lifestyles of those taking advantage of the CIP. Get ready for gated communities, unaffordable houses, land etc. Do not expect these people to buy one acre, they can afford to buy 50 ,100...that's what they will want. I do not blame them. They will price the locals out of the market. Their kids will get the jobs It's heartbreaking to see the desperation from this group....Willing to gamble our kids future for such a meager sum. If one feels that desperate why don't we try to get the best deal for the people and not have a sale price on our future. There will be lots of Cap Estates where locals are viewed suspiciously. Be careful what we ask for...you let the cat out of the bag, good luck getting it back in. This group just reaffirms my belief of "Money talks....Bull....walks.

    (20)(0)
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  11. We are asking less than Dominica? Wow! Less than Dominica? Even with the scandals Dominica has had with theirs we are cheaper than them? SMH.

    (6)(0)
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  13. Have a careful listen to award-winning globally-respected "60 Minutes" about who all is doing CIP...
    http://www.newsamericasnow.com/60-minutes-spotlights-on-caribbean-passports-for-sale/

    https://stluciatimes.com/2016/12/12/uwp-government-urged-crime

    https://www.theatlantic.com/international/archive/2016/12/isis-trinidad/509930/
    (how soon will that spread to our island based on the "60 Minutes" report citing the numerous number of dubious Middle Eastern and East Indian high-$ alleged criminals travelling freely through the OECS on CIP
    passports?)

    As you may know, SLU already does not have the best reputation as to being a going concern for trans-shipment (move it here, stomp on it, and part it out for re-distribution to North America, the E.U., and Asia) and for money laundering (hypothetically, as a similar example to one used in the program, an Iraqi-borne Syrian living in Dubai that's a citizen of SLU type thing, c'mon now, seriously people...)

    We blessed with the luxury of living in a vibrant, democratic society. While easy enough to comment on in a news site, we also have the ability to contact directly our elected officials by telephone, e-mail, letter, or in-person visit so as to let views be know to the decision makers.
    http://www.govt.lc/cabinet

    (8)(2)
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  15. The government had no choice but to accept the CIP because anyone with enough "money" could easily join the program in Antigua or Dominica or St.Kitts and Nevis and come down here to stay in St.Lucia permanently weather or not we had the program because we are a member of the OECS so why blame the PM.

    (1)(14)
    • St Lucia has no choice? Why does St. Vincent and others have choices? I support Gonsalves position

      (15)(0)
    • OECS policymakers should have had more intelligence to create a renewable economic passport paid to the government where that alien had registered his or her business. Thickheaded politicians can only see the quick money. They are damn well gambling with the future.

      (14)(0)
    • Who Said we have to accept cip individuals from other oecs countries, there will have to be a provision put into the oecs treaty to restrict these individuals from freedom of movement within the oecs countries especially since at the time the treaty was signed there was no CIP programme. Alternatively, all monies collected through the CIP programme by any member state should be shared equally among the other states. Now let us see who wiill be charging the ridiculous $100.000 if they had to share it.

      (5)(0)
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  17. Is therea way to revoke my citizenship
    I see no value to it

    (18)(0)
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  19. This country continues to be the laughing stock of the new world.
    Is this what my beloved country's value has become.
    Smh

    (11)(0)
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  21. This is nonsense and we the people must take a stand. this CIP program will erode the gains we are making in OECS and CARICOM. I agree with Gonsalves when he argued that islands with CIP citizens should not be automatically given the same rights as OECS and CARICOM nationals because St Vinvent is opposed to the CIP program and they have good reason.

    The Immigration department and the Ministry of Finance is silent on these issues and how it can have an impact on national security and how the funds will be used/have been used. Is the money from this used to reduce our debt as IMF suggested as as the new bee-ach of CIP in the Caribbean is St Lucia taking money laundering efforts, border security and due diligence seriously. SMFH...

    (12)(0)
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  23. What a badge of honor! We provide citizenship to the scummiest at the lowest price. Can you find it in your heart to lower the standards even more? Disgusting.

    (23)(0)
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  25. sell it for $100, then they vote they vote for u

    (8)(1)
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  27. I concur with the sentiments above. I also find it dis-respective that governments including the UWP continue to treat us as second class citizens not informing us the citizenry of these important decisions.
    Was this done for DSH??

    (17)(1)
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  29. Barry Windham DSH

    competitive advantage. We would not have had any buyers if we we were the most expensive. When one becomes a Citizen by investment, they then become CARICOM nationals, which means that those people have the same rights as any other CARICOM national, which means that either we participate and get all the business we can out of this or have an influx of Grenadians and Dominicans who look east Asian. Kenny Anthony was wrong to have ever introduced this piece of crap way of getting investment/capital. Kenny may go down as the least talented prime minister st. lucia ever had...and to think he came into politics for "legacy". hilllaire take note!

    (10)(31)
    • very lame argument BARRY.. the question here is should we be prostituting our country. I am against this whole CIP idea even if it means severing ties with caricom. can we call it sluxit:

      (20)(2)
      • What is lame about the argument. Isn't it a fact the someone could have become a citizen in Dominica for the lowest price, through CIP then come to settle in St Lucia through free movement of persons in the OECS? Settle for life?

        (3)(5)
        • So then we will have to settle for SLUXIT. And set up a STlucia and ST.Vincent(and other non CIP territories) Union......I am dead serious if that is what it will take to stop the prostitution.

          (6)(0)
          • We need to change the constitution. We need a referendum on this one. This is foolish politics.

            (8)(0)
    • You have just made a convincing argument that this country has been cheapened by CIP, CARICOM and OECS. We never had, or ever will have political sovereignty.
      Now what is left of our economic sovereignty, after joining the WTO has gone to the dogs. And now you are expecting me with all this to take February 22nd seriously and sing so-called national anthem? Let those CIP people sing that, if they will.

      (17)(0)
    • Do those people even understand the basics of competitive advantage. We had administration after administration creating huge pools of unemployable school-leavers from the Compton years to now. Not even a past teacher as PM, had the faintest idea as to improve on the comical carcasses of the grand achievement, building unequipped "Fairty schools". Where the hell has been any consideration of competitive advantage, when the main natural resource for the island is its people? Where should the emphasis be, after the banana industry was collapsing right before our eyes? Saint Lucian politicians are dumb.

      (14)(1)
    • If Kenny was wrong then isn't Chasnet wronger (if such a word did exist) for making it worse. Please do not blame Kenny or any past person for the actions for the present government. Always judge the present government based on their actions, broken promises and ultimately right and wrong.

      (14)(9)
      • You know Anonymous at 2:45 PM I don't why 4 idiots chose to thumbs down your comments for I found nothing wrong with it If Chastanet errs in his judgement and actions he has no one to blame but himself I say this because I believe firmly in the little saying which goes like this: show me the individual and I will show you one who errs. Even UnitedPac, which deafeningly silent these days, will agree.

        When I sometimes scan the world I sometimes encounter something called prestige. As subjective, bias and unreasonable as it may seem I did think St Lucia ranked higher than Dominica when it came to prestige. If so St Lucia as a product should be worth more. I see chastanet beg to differ. Yet at the same time he find it in his wisdom to increase the tax on travellers entering and leaving St Lucia. The difficulty there is in second guessing this man lies in the fact the he is so irrational.

        (8)(1)
        • Because the majority of Lucians hate the truth, especially when the truth is against or not beneficial to themselves or those they support.

          They are so biased that they become delusional and consider everything they do as right and everything that those they dislike as being wrong or insignificant. The UWP is quite aware that critical thinking St.Lucians are a minority and credit must be given to Allen Chastanet for making good on their cognitive handicap even though its just a simple task of blaming Kenny for everything.

          (2)(2)
    • Barry, I don't necessarily agree there's a saying "less is more" however in the context of the CIP programme it doesn't work.

      The CIP programme is there to attract 1. HNW (High Net Worth) individuals. 2. Investment.

      There's a major difference between Rich and HNW. HNW individuals like to be in a league of they own.

      If a HNW individual was potentially looking at SLU's CIP programme they may very well look away after seeing the minimum investment needed being $100K.

      These sort of people are MEGA rich - $100K to them is like $1, $100K to Rich a person is $100.00.

      Am not entirely against the programme but certain elements of it like minimum investment needed.

      Have a look at the 60Minutes documentary on "Passport for Sale" story.

      Our programme comes across as a Passport for Sale scheme rather than a genuine CIP.

      We are selling Fair Helen way to cheap.

      Hope you manage to get to watch 60Miunutes.

      (1)(0)
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  31. These arrangements are myopic. They leave HUGE gaps in terms of any direct or immediate benefits for the murderous roving gangs of youth thugs causing mayhem, and declaring war on one another and on law-abidding citizens.

    Saint Lucian politicians and especially our political directorates appear to be incapable of riding a bike and chewing gum at the same time. The framers have clearly not done the necessary homework. They are reduced to "Mimic Men" --- just copying only what they can see around them. Blind people with no vision, with no other sense of purpose but to copy.

    The current arrangement betrays a great ignorance of the basics of economic development in the 21st century. The advisors should all be fired!

    The arguments made in defence of the new configuration of the CIP, amount to little more than immature economic prattle. Economic drivel. No deep thought has been devoted to remedying the scourges of high unemployment of this youthful population. None at all.

    Even if we get a satisfactory level $100,000 payments, that in itself, does not get rid of the roving bandits from the ghettos, from the streets, nor from preying on visitors and locals alike.

    (17)(0)
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  33. The Skettel of CIP's = Saint Lucia!

    (8)(1)
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  35. Government bonds from an almost bankrupt country???

    (6)(3)
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  37. Total disrespect for the populace. The people must unite to preserve our sovereignty.

    (14)(4)
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  39. The bottom line remains the same. St,Lucian Citizenship should not be for sale like bananas or mangoes, there should be a much higher standard required if you are not born here and want to become a citizen.. Full STOP.

    (14)(0)
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  41. Am i supposed to be impressed that our patrimony is the cheapest? That we are worth less than everybody else, that we are the cheapest whore on the street Gety a life you sauick politicians.

    G.J

    (23)(3)
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  43. The word is out on the word stage, "^0 Minutes" has a Massive viewership and reach...
    http://www.newsamericasnow.com/60-minutes-spotlights-on-caribbean-passports-for-sale/

    (6)(0)
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  45. Don't care if it's $2 or $2M this isn't good for our island nation...

    (19)(1)

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