The Citizenship by Investment Programme (CIP) has granted thirty-eight citizenships, after approving eleven applications.
The revelation was made on Tuesday November 29, 2016 when the Citizenship by Investment Unit hosted a Public Consultation at the Bay Gardens Hotel.
A presentation made by the Chairman of the Board, Ryan Devaux, indicated that fourteen families and four single applicants have applied to the programme to date comprising of sixty five individuals in total.
Three applications have been denied with four pending
It was disclosed that processing times from compliance to a decision was forty-two days for the shortest, one hundred days for the longest and seventy-one days on average.
Applicants by region were seven from the Middle East, three from Russia, two from Asia, two from North Africa, two from South Africa one from North America and one from Europe.
The public consultation was assured that there was “robust” compliance and due diligence in the process.
It was disclosed that five purchases of Bonds have been approved totaling a sum of $ 2, 725,000 US.
Six donations the National Economic Fund have been approved totaling a sum of $1,475,000 US.
There are nine licensed Authorized Agents:
- CBI (Saint Lucia) Inc.
- Century Capital Inc.
- Citizenship Services (Saint Lucia) Inc.
- Corporate Solutions Ltd.
- Foster Citizenship Corporation.
- Global Citizens Caribbean Inc.
- McNamara Citizenship Services Inc.
- Polaris Citizenship & Investment Consultancy Services Limited.
- TM Antoine Partners Advisory Inc.
And four licensed promoters:
- Caribbean Trust “CTrustGlobal”
- Central Lead Development Limited
- Hewanorra Citizenship Services Ltd.
- Savory and Partners
In addition, there are two marketing agents:
- Arton Capital
- CS Global Partners
And four due diligence firms:
- BDO Consulting
- IPSA International
- Thomson Reuters
- Wealth X