A major bombshell has revealed that Saint Lucia has sold over 14,000 passports through its Citizenship by Investment Programme (CIP) under the current SLP administration. This figure, allegedly confirmed by CIP CEO Mc Claude Emmanuel, starkly contrasts with the 871 citizenships sold during the tenure of the former UWP administration between 2016 and 2021. The financial implications are staggering, with the sales under the SLP administration alone worth more than US$1.4 billion!
This dramatic increase in passport sales raises significant questions and concerns about the administration’s transparency and the program’s long-term impact on Saint Lucia. Despite the substantial revenue generated, the SLP administration has yet to present the 2022-2023 annual report for the CIP, leaving a critical gap in accountability and public oversight.
The CIP was introduced as a means to attract foreign investment, with the potential to bolster the country’s economy and fund developmental projects. However, the sheer volume of passports sold under the current administration raises major red flags about the management of this programme under Investment Minister Ernest Hilaire. The sale of over 14,000 citizenships in such a short period begs the question of how these funds are being utilized and whether the rapid influx of new citizens aligns with the nation’s best interests.
The Missing US$1.4 Billion in CIP Funds and Its Potential Impact on Saint Lucia’s Economy
Saint Lucia is grappling with an economic burden that has left many of its citizens struggling to make ends meet. The 2.5% Health and Security Levy, introduced by the Pierre government to raise $33 million EC annually, has added to the financial strain on households and businesses. This levy, applied to essential goods and services such as groceries, back-to-school items,…
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by Content Manager