News, News-buzz

PM Says Saint Lucia Has ‘Erred On The Side Of Caution’ In CIP

PRIME Minister Allen Chastanet has said that Saint Lucia has erred on the side of caution in its Citizenship by Investment Programme (CIP).

“I think it has been a learning curve for us, particularly in the processing,” PM Chastanet told reporters Thursday.

“Whereas we are not certain as to how we should proceed, we have not given approval,” Chastanet, who is also responsible for finance, explained.

He disclosed that Saint Lucia has been working closely with regional security firms and third-party firms to ensure that this country’s borders are protected.

“As I have said, it is not just about the security of Saint Lucians, which is very high on our list, but it is also to give confidence to our neighbours – the French, the Dutch, the British, the Americans, the Canadians and the Europeans — that we recognise their border as our border,” Chastanet asserted.

He said he was very satisfied with the progress that Saint Lucia is making and comfortable with the team this country has.

“The Chairman, Mr. Ryan Devaux, is a very-well-accomplished banker and has been incredibly successful and also now the CEO, Mr. Nestor Alfred, is no stranger to Saint Lucia and what his capabilities are and I am satisfied that both of them are non-political,” Chastanet declared.

He said the entire CIP board is intended to be at ‘arms length’ away from the government.

Leave a Reply

Your email address will not be published. Required fields are marked *