CIP CEO Cindy Emmanuel-McLean
Citizenship by Investment Programme (CIP) Unit Chief Executive Officer, Cindy Emmanuel-McLean, has declared that proper due diligence will be applied to the programme.
Emmanuel-McLean told a media conference on Thursday (Jan.22) that she is fully confident that her unit will act in a professional manner and ensure that the programme becomes successful.
The CIP Unit head said her staff are fully committed and aware of the seriousness of the CIP, and some of the issues that could be derived from not applying proper due diligence.
Emmanuel-McLean revealed that her unit has already been receiving calls from persons who are interested in knowing more about the programme, explaining that things are likely to build-up in months ahead.
Two global marketing firms, Arton Capital and CS Global Partners, have been selected to assist with global marketing programme to attract foreign investors to the country.
Government also recently announced five locally based authorized agents for the CIP. They include: Thaddeus Antoine (TM Antoine Partners Advisory Inc.) and four others.
All applications received by the CIP Unit will be vetted to ensure that they are compliant.
Each applicant file will be sent to one of four foreign companies for due diligence. These include: Thomson Reuters, BDO Consulting, IPSA International or Wealth X.
Once that process is completed, the file is then returned to the CIP Unit and recommendations from that Unit will be made and the application is then forwarded to the CIP board.
The board which is headed by Dr. Ernest Hilaire will then make a decision as to whether the application is denied or granted permission to invest. The Prime Minister will then issue a certificate granting citizenship.
Prime Minister Dr. Kenny Anthony has maintained that the CIP will bring greater foreign direct investment to Saint Lucia, thereby creating hundreds if not thousands of jobs, and create opportunities for all.
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