Saint Lucia Citizenship Investment Programme makes top three in the 2022 CBI Index

Castries, Aug. 26, 2022 (GLOBE NEWSWIRE) — St Lucia took third place in this year’s instalment of the CBI Index – which ranked 13 countries with operational citizenship by investment programmes. Seen as an industry voice and reliable source for those looking to vet CBI programmes around the world, the CBI Index is published annually […]

Castries, Aug. 26, 2022 (GLOBE NEWSWIRE) — St Lucia took third place in this year’s instalment of the CBI Index – which ranked 13 countries with operational citizenship by investment programmes.

Seen as an industry voice and reliable source for those looking to vet CBI programmes around the world, the CBI Index is published annually by the Private Wealth Management magazine, a publication of the Financial Times, and in partnership with CS Global Partners.

This year, St Lucia was ranked alongside Antigua and Barbuda, Austria, Cambodia, Dominica, Egypt, Grenada, Jordan, Malta, Montenegro, St Kitts and Nevis, Turkey, and Vanuatu.

The CBI Index ranked these jurisdictions across nine pillars including Freedom of Movement, Standard of Living, Minimum Investment Outlay, Mandatory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family and Certainty of Product.

Having recently welcomed Mc Claude Emmanuel to the position of Chief Executive Officer of its CBI unit, St Lucia was recognised its affordable minimum investment outlay, reasonable mandatory travel or residence requirements and ease of application processing.

“This recognition means a lot to us. The CBI Index is a globally recognised report that has been assessing CBI programmes for the last six years and not only will investors gain insight into our programme but it also gives us an opportunity to improve aspects of our programme to increase our scores next year,” said notes Mc Claude Emmanuel, CEO of St Lucia’s CPI Unit.

Investors can become a citizen of St Lucia in as little as 90 days by investing only a minimum of US$100,000 through its National Economic Fund, and busy entrepreneurs are not required to stay in the country for prescribed periods of time.

There weren’t many significant changes in the minimum investment outlays since the 2021 CBI Index, this was reflected in no change in the order of the final scores.

There were also no changes from the 2021 CBI Index to scores under the Mandatory Travel or Residence Pillar – Caribbean nations continue to rank highly in this area.

The country scored 87% overall.

St Lucia scored 9 out of ten for Due Diligence, Citizenship Timeline, and Family.

A very important aspect of any CBI programme is its ability to vet applicants and ensure that only honest individuals who can account for how they make a living are accepted into the programmes.

“We are on an ongoing drive to continuously enhance the due diligence processes of our programme as we are very keen to protect its integrity and value,” noted Mc Claude Emmanuel.

With ongoing geopolitical tensions, special attention is now being given to jurisdictions that offer CBI programmes. The international community is concerned that these programmes may offer boltholes for suspect characters looking to evade the law.

International respect is vital for any CBI programme to thrive, and a layer of ongoing monitoring is becoming a key pillar of reputable CBI Units such as that of St Lucia. Caribbean nations are setting global best practices when it comes to advancements in due diligence processes.

The Citizenship Timeline Pillar looks at the average time taken for citizenship to be secured by the applicant. One of the key merits of CBI programmes is their ability to provide a rapid route to second citizenship; St Lucia was awarded top points for its short turnaround times, which takes three months for citizenship to be granted from the date the Authorised Agent is notified that the application has been accepted for processing.

The CBI Index recognises that the rise of increasingly complex family relationships is driving investors to seek programmes that allow for a more diverse range of family members to be included under a primary application.

As an additional layer of nuance to its scoring system, this year’s CBI Index also draws a distinction between family members who are allowed to apply with and obtain citizenship at the same time as the main applicant and those who can apply at a later stage and because of the main applicant has already received citizenship.

Multiple family member categories were considered, with points being awarded for adult children, parents, grandparents and even siblings. Additional merit was also given to programmes with provisions for family members of the main applicant’s spouse. Additionally, the degree of flexibility within each of these categories can differ radically from programme to programme.

St Lucia scored 8 out of 10 in the Certainty of Product pillar. This pillar encompasses a range of factors that measure a programme’s certainty across five different dimensions: longevity, popularity and renown, stability, reputation, and adaptability.

Longevity measures the age of a given programme while Popularity and renown evaluate the number of applications and naturalisations under each programme per year, as well as a programme’s eminence in the industry.

The reputation of a programme was determined by the amount of negative press or the number of scandals it has been linked to, affecting investors’ broader perceptions of the countries in which they invest. Just as important, however, is evidence that programme funds are being utilised for social good. Points were awarded for a jurisdiction’s transparent use of CBI funds, for example for the development of domestic healthcare, education, tourism and other infrastructure. One of the main ways that investors can become citizens of St Lucia is through its Economic Fund which Mc Claude Emmanuel has said will “benefit all St Lucians by investing in social interventions and assisting the country to be food secure as assistance will be given to local farmers.”

Lastly, adaptability reflects a programme’s ability to rapidly respond to, and sometimes even predict, the needs of applicants and the industry.

St Lucia continues to offer a popular programme with consistently high application volumes, stability with no caps on the number of applications or specific calls to end the programme, and adaptability both in respect of changes to keep the programme functioning during Covid-19 and its swift response to the Russian invasion.

St Lucia, along with Antigua and Barbuda, Dominica, Grenada and St Kitts and Nevis scored seven out of 10 in the Freedom of Movement pillar. St Lucia has access to 15 of the 20 key business hubs assessed in the 2022 CBI Index.

Lastly, St Lucia scored six out of 10 for its decent freedom, GDP growth and GNI scores.

Download the full CBI Index here, to get further insights into the CBI industry and a full evaluation of the CBI programmes of the 12 other jurisdictions in the rankings.

PR St lucia
Saint Lucia
+1 758 458 6050
mildred.thabane@csglobalpartners.com

FM Bilawal briefs Turkish counterpart about damages caused by floods in Pakistan

Foreign Minister Bilawal Bhutto Zardari has expressed his gratitude to his Turkish counterpart Mevlut Cavusoglu for immediately sending volunteers for help in rehabilitation after flood.In a telephonic conversation on Saturday, he apprised the Turkish …

Foreign Minister Bilawal Bhutto Zardari has expressed his gratitude to his Turkish counterpart Mevlut Cavusoglu for immediately sending volunteers for help in rehabilitation after flood.

In a telephonic conversation on Saturday, he apprised the Turkish Foreign Minister about enormous damage caused by the unusual rains and floods in Pakistan.

The Minister said Pakistan and Turkiye have always stood by each other in tough times.

Source: Radio Pakistan

Planning Minister calls for unity to address prevailing flood situation

Minister for Planning and Development Ahsan Iqbal has called for unity and collective responsibility to help flood victims in this hour of need.Addressing media on Saturday, he appealed all political leaders to actively participate in relief and rehabi…

Minister for Planning and Development Ahsan Iqbal has called for unity and collective responsibility to help flood victims in this hour of need.

Addressing media on Saturday, he appealed all political leaders to actively participate in relief and rehabilitation work for all those affected by the floods.

The Minister said the government is making all possible efforts for the rehabilitation of the flood-affected people of the country.

Ahsan Iqbal said NHA has been directed to ensure the restoration of highways which were badly affected by floods so relief efforts could not be disturbed.

He said the National Disaster Management Authority is distributing food items amongst the affected people. He said issue of tents will be resolved in next few days. He said that 25,000 rupees cash assistance is being given to every flood affected family through the Benazir Income Support Programme while the family of any deceased is being given one million rupees. He said for this purpose Prime Minister Shehbaz Sharif has allocated a huge amount of 100 billion rupees.

He also appealed the philanthropists, national and international organizations to help affected Pakistanis.

Source: Radio Pakistan

Int’l community urged to stand up for oppressed Kashmiris

In Indian illegally occupied Jammu and Kashmir, political experts and analysts have urged the international community to stand up for the oppressed Kashmiris, who are facing the worst Indian state terrorism for the last over seven decades.In their stat…

In Indian illegally occupied Jammu and Kashmir, political experts and analysts have urged the international community to stand up for the oppressed Kashmiris, who are facing the worst Indian state terrorism for the last over seven decades.

In their statements and interviews in Srinagar, they said that every freedom and justice loving person must raise voice for the subjugated people of territory as every single voice raised in support of the Kashmiris will surely make a difference.

They said it is time to halt demographic changes being made by Modi regime in Indian Illegally Occupied Jammu and Kashmir.

Meanwhile, in Indian illegally occupied Jammu and Kashmir, the All Parties Hurriyat Conference has appealed people to observe complete shutdown and massively march towards Hyderpora in Srinagar on Thursday, to pay tribute to the icon of Kashmir resistance movement, Syed Ali Gilani, on his first martyrdom anniversary.

Syed Ali Gilani embraced martyrdom in the custody of Indian police last year at his Hyderpora residence in Srinagar where he was kept under continued house arrest for over a decade.

The Indian forces’ personnel had snatched away the dead body of Syed Ali Gilani for forcible burial at Hyderpora graveyard in Srinagar under heavy military siege in the dark of night in violation of the last will of the veteran leader.

Source: Radio Pakistan

PM vows to overcome flood related issues with collective efforts

Prime Minister Muhammad Shehbaz Sharif has expressed the resolve to overcome flood related issues with collective efforts.He made the remarks during a visit to Sujawal district of Sindh on Saturday where representatives of concerned departments briefed…

Prime Minister Muhammad Shehbaz Sharif has expressed the resolve to overcome flood related issues with collective efforts.

He made the remarks during a visit to Sujawal district of Sindh on Saturday where representatives of concerned departments briefed him about the devastation caused by the calamity.

The Prime Minister said the entire country is badly affected with flash floods due to incessant monsoon rains.

He said the heavy downpours in the season has caused human losses, damaged road and infrastructure across Khyber Pakhtunkhwa, Punjab, Sindh and Balochistan.

He said a collective policy will be framed in collaboration with the provinces for the relief and rehabilitation of flood affected people.

On the occasion, Shehbaz Sharif also appreciated the efforts of the Chief Minister Sindh, administration and the armed forces for their rescue and relief operations in these areas.

Later, talking to the affected people, the Prime Minister said the federal government has allocated a grant of 38 billion rupees to support each flood affected family with disbursement of 25,000 rupees.

He said a grant of 15 billion rupees has already provided to Sindh province while the distribution of flood relief amount among each family has also commenced in Sindh province under Benazir Income Support Programme.

Shehbaz Sharif said with the support of National Disaster Management Authority and other relevant departments, the federal government will continue to support the provincial governments in the rescue, relief and rehabilitation efforts.

He said that a combined survey would be completed soon which would enable them to get an estimate of the damages and losses caused by floods across the country.

The Prime Minister said politics over the agreement with International Monetary Fund could cause irreparable damage to Pakistan as an IMF board is scheduled to hold a meeting on Monday.

Source: Radio Pakistan

Radio Pakistan launches emergency “SMS 4471” Service & special transmission for flood affected people

Radio Pakistan has launched an emergency SMS service and special transmission for live callers including flood affected people and those who want to help them.Flood affected people who are in need of any type of help can send their messages on Radio Pa…

Radio Pakistan has launched an emergency SMS service and special transmission for live callers including flood affected people and those who want to help them.

Flood affected people who are in need of any type of help can send their messages on Radio Pakistan’s SMS service ‘4471’.

The initiative is taken undrer the directive of Minister for Information and Broadcasting, Marriyam Aurangzeb for immediate relief and rehabilitation of flood victims.

Earlier, the flood relief cells have been established in Radio Pakistan’s Headquarter Islamabad and all other broadcasting houses across the country to play their effective and active role in the ongoing relief activities.

Source: Radio Pakistan

Telecom companies to provide free calls in flood affected areas

Cellular Mobile Operators will provide free on-net voice calls to all their subscribers in flood affected areas with Zero / Nil balance. According to Pakistan Telecommunication Authority, there will be no call setup charges applicable on call connectio…

Cellular Mobile Operators will provide free on-net voice calls to all their subscribers in flood affected areas with Zero / Nil balance.

According to Pakistan Telecommunication Authority, there will be no call setup charges applicable on call connection and customers having no balance will be able to make on-net calls.

PTA is continuously monitoring the communication channels in the affected areas, ensuring connectivity and providing updates, where necessary.

Source: Radio Pakistan

COAS expresses resolve to assist flood affectees in testing times

Chief of Army Staff General Qamar Javed Bajwa says people of Pakistan are our priority and we will not spare any effort to assist them in this difficult time.He expressed these views during his visit to flood affected areas of Balochistan on Saturday.T…

Chief of Army Staff General Qamar Javed Bajwa says people of Pakistan are our priority and we will not spare any effort to assist them in this difficult time.

He expressed these views during his visit to flood affected areas of Balochistan on Saturday.

The Army Chief said safety and wellbeing of our country men comes first and we won't rest until each one of flood affected is not only reached but rehabilitated, no matter how much effort is required.

He directed the authorities concerned to utilise all available resources to assist the civil administration for rescue, relief and rehabilitation of people and infrastructure in the flood affected areas.

The Army Chief directed to reach out to our brothers and sisters in need without waiting for orders and help them overcome this natural calamity.

He also visited flood relief and medical camps established at Goth Sadoori, Lakhra, Lasbela and inquired about wellbeing of local people affected due to floods.

The Army Chief also met troops busy in relief operations and lauded their efforts in service of men, women and children in distress .

Source: Radio Pakistan