ST. LUCIA’S almost two year old Citizenship by Investment Programme (CIP) has granted 38 citizenships, after approving eleven applications.
This was disclosed at a recent public consultation hosted by the CIP unit in Gros Islet.
Chairman of the Board Ryan Devaux, says 14 families and four single applicants have applied to the programme to date comprising 65 individuals in total.
Three applications have been denied with four pending.
According to Devaux, the processing time from compliance to a decision was 42 days for the shortest, 100 days for the longest and 71 days on average.
There were seven applications from the Middle East, three from Russia, two from Asia, two from North Africa, two from South Africa one from North America and one from Europe.
Those attending the public consultation were assured that there was “robust” compliance and due diligence in the process.
It was also disclosed that five purchases of bonds have been approved totaling US$ 2.7 million.