Guidelines for Enterprise Projects For St Lucia CIP





The following guidelines are made subject to the Citizenship by Investment Act No. 14 of 2015 (‘‘the Act’’) and the Citizenship by Investment Regulations No. 89 of 2015 (‘‘the Regulations’’).

The Citizenship by Investment Unit (“the Unit”) will consider enterprise projects to be included on the list of approved projects for the Citizenship by Investment Programme (‘‘CIP’’). The Unit will consider a number of criteria when determining whether an enterprise project should be recommended for inclusion on the list of approved projects for the CIP.

The Enterprise Project MUST:
• Until further notice be a/an:
o Specialty restaurant.
o Cruise port and marina.
o Agro-processing plant.
o Pharmaceutical product.
o Port, bridge, road or highway.
o Research institute and/or facility.
o Offshore university.
• Comply with government policies, standards and regulations pertaining to businesses operating in the sector.
• Adhere to monitoring and reporting requirements of the Government of Saint Lucia and the Unit.
• In the case of an individual developer (sole investor):
o Make a minimum qualifying investment of US $3,500,000.
o Create a minimum of 3 permanent jobs.
• In the case of more than one developer (joint venture):
o Make a minimum qualifying investment of US $6,000,000 with each investor making a minimum contribution of US $1,000,000.
o Create a minimum of 6 permanent jobs.



The Enterprise Project SHOULD:
• Serve to enhance “Brand Saint Lucia”, while promoting the best attributes of the island.
• Support the country’s sustainable development objectives, through overall wealth creation, social equity and environmental sustainability;
• Be predicated on clearly viable commercial, operational and financial proposals particularly where government incentives and public sector facilitation are required.
• Results in sustainable, efficient and significant job creation.
• Enhance economic, technological, environmental and social transformation as a way of improving human well-being and the quality of life of Saint Lucians.
• NOT require inequitable public sector involvement and disproportionate risk bearing.
• Have planning approval in principle and location secured via lease or purchase.
• Be based on partnerships (investment/operational/marketing) that enhance the enterprise project’s marketability and potential for success.
• NOT result in net transfer of resources from Saint Lucia nor compromise social equity/stability or cause irreversible damage to the natural environment.
• Be realistic, implementable and sustainable.
• Be transparent and able to withstand full legal, financial, economic and ethical scrutiny.
• Assist in furthering Saint Lucia’s economic and social development goals.
• Have a clearly determined source of funds and not be reliant on speculation.
• Have estimated profitability of the venture that does not require financial support from the

Government or public sector.
• Have a full and acceptable project feasibility study as part of the application/proposal.

Definitions:
For the purposes of the CIP, a specialty restaurant is defined as one which has distinguishing features including a distinct menu offering a particular type of cuisine.

Application Process:
The application MUST:
• Be submitted in electronic and printed form.
• Have all documents submitted in the English Language or an authenticated translation into the English Language.

The application MUST include:
• A proposal which includes all the required elements detailed in the attached checklist.
• A $5,000 USD due diligence fee.
• Completed director’s and/or shareholder’s profiles.
• A duly signed Statutory Declaration from each director.
• Requisite supporting documents.

Procedure for Assessing Projects:
In assessing enterprise projects for inclusion on the approved projects list, the Unit will:
• ONLY consider complete proposal.
• Collaborate with Invest Saint Lucia;
• Share information as necessary with Invest Saint Lucia.
• Conduct or cause to be conducted a due diligence background check on the developers.
• Provide an update to the developer within three (3) weeks of receiving their proposal.
• From time to time, request additional information from the applicant.



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