A New Era for Caribbean Investment
The Office of the Prime Minister of Saint Lucia has recently announced a significant milestone: Saint Lucia is joining other OECS CBI countries in harmonizing and strengthening the Citizenship by Investment (CIP) programs. This commitment underscores the importance of unifying CIP programs across the region, reflecting Saint Lucia’s dedication to this effort.
The agreement to enhance these programs was initially reached on March 20th by the Prime Ministers of the four CARICOM CIP countries: Antigua and Barbuda, St. Kitts and Nevis, Dominica, and Grenada. These leaders have pledged to collaborate and fortify various aspects of their existing Citizenship by Investment Programs. The newly agreed-upon changes will take effect on June 30th, 2024.
Key components of the agreement include:
- Data Sharing and Digital Portal: Establishing a digital portal in collaboration with the Joint Regional Communications Centre (JRCC) in Barbados to share applicant data.
- Common Regional Authority: By June 30th, 2024, a common regional competent authority will be established to regulate Citizenship by Investment Programs according to international standards.
- Post-Approval Screening: Enhanced cooperation on the post-approval screening of CBI citizens and the retrieval of cancelled passports.
- Unified Standards: Implementing common standards for agent regulation and marketing, including the prohibition of misleading advertisements.
What Does This Mean for You?
If you are considering investing in a second passport, now is an opportune time to act. Until June 29th, you can still make the current investment of $100,000.
Maximize your investment by reaching out to Dual Luxury World today and take advantage of this unique opportunity before the new regulations take effect.
