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Caribbean, News feed Date: 05 June, 2024

Saint Lucia Citizenship by Investment Programme Aligns With MOA

Saint Lucia Citizenship by Investment Programme Aligns With MOA

In line with the guarantee made by the Saint Lucia Citizenship by Investment CEO, McClaude Emmanuel, the St Lucia Government has signed the Memorandum of Agreement (MOA). The island joins its fellow Eastern Caribbean neighbours in standardizing their Citizenship by Investment offerings. Find out what all this means, in our latest Caribbean citizenship news story.

Caribbean Citizenship Points of Principle

As set out in a statement made by the Honourable Philip J. Pierre on Monday, June 3, 2024, St Lucia recognizes the common ground between itself, Antigua and Barbuda, Dominica, Grenada, and St Kitts and Nevis. The following are concerns for Saint Lucia Citizenship by Investment Programme and its competitors in the region:

  1. Pricing
  2. Information Sharing and Transparency Standards
  3. Regulation
  4. Security Screening and Framework
  5. Regulation of Agents; Marketing & Promotion of Programs
  6. Joint Training and Capacity Building
  7. Dispute Resolution
  8. Amendment and Termination

St Lucia Citizenship by Investment Initiates Changes

As well as acknowledging that it will increase its minimum investment option to the agreed $200,000 by Sunday, June 30, 2024, share details about applicants, regulate itself and agents, participate in training sessions across the region, etc, St Lucia made 4 further proposals. They are as follows:

  1. Establishing an annual quota across the Eastern Caribbean
  2. Setting a net worth limit for Caribbean citizenship applicants
  3. Insisting escrow accounts to be held on the 5 islands rather than off-shore
  4. Limiting the submission of applicants to licensed promoters charged with carrying out due diligence on each one

In his statement, the St Lucia Prime Minister reveals that the respective heads of states of the island’s neighbours have agreed to implement these suggestions.

The Latitude Reaction to St Lucia Adding Its Signature

Our Man in the Caribbean, Christopher Willis, says that what the Government of St Lucia has brought to the table augments the original MOA.

“The Honourable Philip J. Pierre’s statement is so much more than better late than never. St Lucia has taken what the other countries agreed on and gone even deeper. To secure a longer-term future for itself and its Eastern Caribbean partners, St Lucia Citizenship by Investment has looked at the wider picture.

– Christopher Willis

St Lucia has signed the MOA already agreed upon by its 4 Eastern Caribbean neighbours.

How to Get St Lucia Citizenship by Investment in 2024

In order to obtain St Lucia citizenship, you’re going to have to apply through a licensed promoter such as Latitude Group. We will produce a due diligence report that we will share with the Citizenship by Investment Unit. So, don’t delay and contact us today.

Saint Lucia Citizenship by Investment Programme Aligns With MOA

Date: 05 June, 2024

Posted in: Caribbean, News feed