Great Vision Designs

After careful review and extensive discussions with stakeholders and other OECS
Heads of Government with CIP programmes, the Government of Saint Lucia
announces that it has decided to sign the Memorandum of Agreement (MOA)
already signed by other OECS CIP countries. The Memorandum called for
common standards and procedures in the following areas:

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
   In addition to signing this Memorandum, Saint Lucia has made further suggestions
   to strengthen this regional agreement, including proposing legislative changes to
   address change of name requests. This has been agreed to by the other Heads of
   Government.
   After consultations are completed with regional governments and other partners,
   the Government of Saint Lucia will suggest further strengthening of the CIP
   programme. These would include:
9. An annual quota
10. A net-worth for applicants
11. Escrow accounts to be held in Saint Lucia or in the individual islands.
12. A requirement that only licensed promoters will be allowed to submit
    applicants to local authorized agents and these promoters will have to submit
    a due diligence report on each applicant.

Over the last year the Citizenship by Investment Unit in Saint Lucia has instituted
all six principles agreed to with the United States Government

1. From February 15, 2023 – ban on applicants from Russians and Belarusians.
2. From September 4, 2023 – implemented applicant interviews.
3. From September 4, 2023 – vetting of all applicants through the local
   Financial Intelligence Authority.
4. From January 2020 – sharing of denials with the Joint Regional
   Communication Centre (JRCC).
5. An operational review of the programme by an international consultancy
   firm which will commence shortly.
6. The Saint Lucia CIP Unit will seek international support with the recovery
   of revoked passports.
   Additionally, the Saint Lucia CIP Unit publishes an Annual Report that is tabled in
   Parliament, which includes audited financial statements.
   Furthermore, the fee structure for different options are published in the Official
   Gazette.
   The Government of Saint Lucia remains committed to maintaining and reinforcing
   the integrity of its CIP programme with a transparent and accountable process that
   delivers tangible benefits to all Saint Lucians.