CIP Applications: What’s the real story?

Contrary to initial information provided by the Parliament Office and published in the STAR last week, the Citizenship by Investment Programme’s annual report for the financial year 2017-2018 was indeed laid in parliament in December last year. Nestor Alfred, CEO of the Saint Lucia Citizenship by Investment Unit, announced last October that the report was submitted, as required by law, to the prime minister.  

Ryan Devaux, Chairman of the Citizenship by Investment Board, noted that during the period under review the programme “grew substantially as a valuable and reputable addition to Brand Saint Lucia.” The chairman reported “financial contributions paid to the government of Saint Lucia during the period 2017-18 totaled $27,828,246.00.” 

A total of 345 applications for Saint Lucian citizenship, from 50 countries, was processed in 2017-18: 205 from the Middle East and North Africa region (MENA); 90 from Asia; 14 from Russia and 36 “from the rest of the world”. Applications received by country of birth were as follows: 66 from China; 38 from Syria; 33 from Iran; 22 from Iraq; 13 from Lebanon; 12 from Pakistan; and 11 each from Saudi Arabia and Russia. There were also applications from other countries, including: Palestine, Jordan, USA, UK, and Yemen.

In contrast, there were 36 applications during the financial year 2016-2017 resulting in 61 persons being granted citizenship. Devaux credits the significant increase to the programme having been made more open and attractive to potential applicants, and by the lowering of the required donation to the National Economic Fund (from US$200,000 to US$100,000). He said that an upsurge in marketing thrust, and streamlining of their processes, also contributed to the increase.

Of the 345 applications, 188 were approved, 27 denied. The fate of the remaining applications will be made known in the next annual report, which should be released later this year. The approved applications resulted in the granting of 282 Saint Lucian citizenships. 108 of the granted applications came from the MENA region, 55 from Asia, 22 from the rest of the world, and three from Russia. 

China sits first on the list with 46 Chinese gaining Saint Lucian citizenship. There were 26 Iranians, 23 Lebanese, 20 Syrians, 19 Iraqis, 17 Americans, 14 Egyptians, and 11 each from United Arab Emirates (UAE), and Jordan. Seven each from Libya, Pakistan and Saudi Arabia, six each from Indonesia and Bangladesh, and five from Yemen followed them. There were four each from the UK, India, Russia, Turkey and South Korea, and three from Thailand. Sri Lanka, South Africa, Afghanistan, Nigeria, Canada and Kuwait each had two. Lastly, there was one each from Qatar, Mauritius, Brazil, Italy, Morocco, Kenya, Ukraine, Bahrain, Spain, British [sic], Denmark, Finland, Australia, Cambodia, Israel, Venezuela, Malaysia, Philippines, Serbia, Palestine, Singapore and Myanmar.

Three approved applications (relating to six persons) were later revoked. The Citizenship by Investment (Revocation) Order dated March 26 states the action was taken because, “in the opinion of the minister, these persons have committed acts capable of bringing Saint Lucia into disrepute”. Two of the individuals were from the UAE, and one each from Syria, Lebanon, Iran and Saudi Arabia.

Taking into consideration the revocations, and figures from the 16-17, and 17-18 reports, 337 persons have been granted citizenship through the CIP. The annual report is available to the public at the Parliament Library in Castries.