The chairman of the St Lucia Citizenship by Investment programme Dr. Ernest Hilaire on Wednesday 2nd February 2015 has assured Real Estate agents, Lawyers, President of the Bar Association, President of The Institute of Chartered Accountants and other like minded individuals at a forum which was held at Palm Haven hotel, that the board will ONLY approve local businesses as “Authorised Agents” at this time.
Mr. Hilaire addressed a number of burning issues such as
- It will be almost impossible to attract ISIS as persons would have to undergo at least 3 layers of due diligence plus International Scrutiny.
- Authorized Agents would need to protect their integrity because if an application reaches the board and is rejected they would be held accountable. Although the board will issue licenses to Promoters, Authorized Agent will be held accountable for these promoters that they engage with.
- Their will be a code of conduct especially to address the Minimum fee that should be charged per application by Authorized Agents.
- The list of approved Real Estate projects will be made public on Thursday December 3 2015.