SAINT LUCIA POISED FOR US BILLION DOLLAR INVESTMENT COMMITMENT IN 2017!!!!

June 15, 2017

 

HARRIS AT LARGE!

 

SAINT LUCIA POISED FOR US BILLION DOLLAR INVESTMENT COMMITMENT IN 2017!!!!

 

Happy Father’s Day to my readers everywhere!

 

The inclement weather in the past 24 hours sought to remind us that we are in the Hurricane Season, and it signalled that proper preparation is necessary. In the Caribbean, we take the position – Don’t Worry, Be Happy! We ignore warnings and go merrily about our business. However, with the weather pattern being as unreliable as it is due to Climate Change, we must change our approach to responding to warnings.

 

In spite of the weather, the meeting which was organised by the St. Lucia Chamber of Commerce, Industry and Agriculture at The NSDC complex in Vieux Fort was held on Wednesday, 14th June, 2017. This meeting was scheduled to facilitate business persons in Vieux Fort and environs, the opportunity to meet with the Chairman and CEO of the Citizenship by Investment Programme (CIP) and learn at firsthand about the operations of the CIP.

 

The small gathering got immersed into the discussion and at the conclusion everyone was very satisfied with the information shared. The CIP team sought to share the progress of this important organisation with emphasis on transparency.

 

The programme is in its second year and the year 2017 after the amendments to the legislation which removed the requirement for applicants to have assets of three million dollars to a simple donation of US$100,000.00 which is being the most popular with persons seeking our Saint Lucian passport. Apart from the Donation category, there are three other categories – Real Estate, Enterprise Projects and Government Bonds. To date only two of the four categories are fully operational, namely: Donation and Government Bonds, yielding eighty three and five applications respectively.

 

To date there are thirteen Authorised Local Agents who receive a ten percent commission for each successful applicant. Eighty eight applications have been submitted, with 4 rejections and two were reversed. The Minister responsible for the CIP is the Prime Minister who has authority to reverse a decision in case of appeal by an applicant. In the interest of transparency a Board of Appeal will shortly be established. With respect to Due Diligence, there are 4 levels which involve in house, private investigation, Interpol and final clearing bank. The average time to process an application is 71 days.

 

Dominica is the lead destination in the region at the moment and St. Lucia is very much in the game. There has to be continuous updating of the programme and it was refreshing to learn that the Governments of the region will be getting together to arrive at common positions to deal with this very important foreign exchange revenue earning programme. I invite my readers in the Caribbean Diaspora to engage the CIP executives in finding opportunities to invest and receive assistance in realising your project. Check out the CIP website and make your move. Put your project on the table. Visit www.cipsaintlucia.com

 

The final item on the agenda was DSH. The Desert Star Holdings Limited, the company that is promoting of the Pearl of the Caribbean project remains in the front of the debate when it comes to investments in St. Lucia. We cannot deny the fact that there is no shortage of projects in St. Lucia. My own position is that investments in the pipeline will exceed a 1Billion US dollars by the end of 2017.

 

Let us keep it lively; forget the cares of the world and dance. Visit my website recommendation www.stlucia.org/events This is Roots and Soul weekend – Enjoy!

 

Remember always to Keep the Faith, knowing that God is in Charge – Dream Big and Expect Miracles!

 

Edward Harris

Biblicist, Author/Publisher, Business Consultant, Real Estate Agent/Broker, Networker, CSR/Small Business Advocate & Motivational Speaker Email:

jobfreelife72@yahoo.comWebsite: www.stluciasimplybeautiful.com

Facebook Page: www.facebook.com/edharrisbiz

 

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