Will Saint Lucia Pursue an Economic Citizenship Programme?
St. Lucia’s Cabinet is getting set to review a report released by the Committee set up to determine the future of an Economic Citizenship programme for the island.
According to the report, the task force placed St. Lucia’s economy in the context of global economic trends and concluded that “there is some validity in adopting an economic strategy that will be of benefit to the country’s economy, by making citizenship by investment programs a significant aspect of St Lucia’s development”. However the real impact of the benefits should be felt by Saint Lucians, as the true purpose of creation of the programme, is to generate economic activity which sustains national development.
Should the programme take effect in Saint Lucia, four investment options were put forward by the committee; one of which is a ‘Direct Citizenship Progamme.’ This option would require investment in new or existing businesses, Real Estate, or Government Bonds.
The Committee’s findings have now been put to the public for review and feedback by March 5th 2015, after which Cabinet will meet on March 9th 2015 for further review and discussion.
The Real Estate community waits with bated breath.