{"id":195,"date":"2015-12-05T00:39:45","date_gmt":"2015-12-05T00:39:45","guid":{"rendered":"http:\/\/www.stluciacitizenshipblog.com\/investment\/?page_id=195"},"modified":"2016-02-04T14:15:43","modified_gmt":"2016-02-04T14:15:43","slug":"guidelines-for-real-estate-projects","status":"publish","type":"page","link":"https:\/\/www.stluciacitizenshipblog.com\/investment\/guidelines-for-real-estate-projects\/","title":{"rendered":"Guidelines for Real Estate Projects"},"content":{"rendered":"<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- cruise footer --><br \/>\n<ins class=\"adsbygoogle\"\n     style=\"display:inline-block;width:728px;height:90px\"\n     data-ad-client=\"ca-pub-9333894214183084\"\n     data-ad-slot=\"9098078053\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><br \/>\nThe following guidelines are made subject to Regulation 10 and Schedule 3 of the Citizenship by Investment\u00a0Regulation No. 89 of 2015 (\u201e\u201ethe Regulations\u201f\u201f) .<\/p>\n<p>The Citizenship by Investment Unit (\u201e\u201ethe Unit\u201f\u201f) will consider real estate projects to be included on the list of approved\u00a0projects for the Citizenship by Investment Programme (\u201e\u201eCIP\u201f\u201f). The Unit will consider a number of criteria when\u00a0determining whether a real estate project should be recommended for inclusion on the list of approved projects for\u00a0the CIP.<\/p>\n<p>The Real Estate Project MUST:<br \/>\n\uf0b7 Until further notice, be a:<br \/>\no High-end branded hotel or resort<br \/>\no High-end boutique property<br \/>\n\uf0b7 Comply with government policies, standards and regulations pertaining to businesses operating in the\u00a0sector.<br \/>\n\uf0b7 Adhere to the monitoring and reporting requirements of the Government of Saint Lucia and the Unit.<\/p>\n<p>The Real Estate Project SHOULD:<br \/>\n\uf0b7 Serve to enhance \u201cBrand Saint Lucia\u201d, while promoting the best attributes of the island.<br \/>\n\uf0b7 Support the country\u201fs sustainable development objectives, through overall wealth creation, social equity and\u00a0environmental sustainability.<br \/>\n\uf0b7 Be predicated on clearly viable commercial, operational and financial proposals particularly where\u00a0government incentives and public sector facilitation are required.<br \/>\n\uf0b7 Result in sustainable and significant job creation.<br \/>\n\uf0b7 Enhance economic, technological, environmental and social transformation as a way of improving the wellbeing\u00a0and quality of life of Saint Lucians.<br \/>\n\uf0b7 Not require inequitable public sector involvement and disproportionate risk bearing.<br \/>\n\uf0b7 Be shovel ready. (i.e. major approvals have already been granted, such as Planning Permission, Incentives\u00a0and the location secured (via lease or purchase). Financing is the only required component outstanding).<br \/>\n\uf0b7 Have fairly low debt\/equity ratios.<br \/>\n\uf0b7 Be based on partnerships (investment\/operational\/marketing) that enhance the real estate project\u201fs\u00a0marketability and potential for success.<br \/>\n\uf0b7 Not result in a net transfer of resources from Saint Lucia nor compromise social equity\/stability or cause\u00a0irreversible damage to the natural environment.<br \/>\n\uf0b7 Be realistic, implementable and sustainable.<br \/>\n\uf0b7 Be transparent and able to withstand full legal, financial, economic and ethical scrutiny.<br \/>\n\uf0b7 Assist in furthering the country\u201fs economic and social development goals.<br \/>\n\uf0b7 Have clearly determined source of funds and not be reliant on speculation.<br \/>\n\uf0b7 Be of big enough scale that its effect on employment and economic activity is significant enough to be\u00a0described as transformative; and<br \/>\n\uf0b7 Have estimated profitability of the venture that would not require Government or public sector support.<br \/>\n\uf0b7 Have a full and acceptable project feasibility study as part of the application\/proposal.<br \/>\n<script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- 250 x 250 --><br \/>\n<ins class=\"adsbygoogle\"\n     style=\"display:inline-block;width:300px;height:250px\"\n     data-ad-client=\"ca-pub-9333894214183084\"\n     data-ad-slot=\"6648982452\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<p><strong>Definitions<\/strong>:<br \/>\nFor the purposes of the CIP, a high end branded hotel or resort is defined as a hotel or resort which has:<br \/>\n\uf0b7More than 70 rooms;<br \/>\n\uf0b7A 4 or 5 star rating ;<br \/>\n\uf0b7An internationally recognized brand name with a significant international distribution network;AND which provides:<br \/>\n\uf0b7Sophisticated, upmarket amenities and luxury accommodations\uf0b74 or 5 star service quality standards as defined by established international hospitality criteria.<br \/>\nFor the purposes of the CIP, a high-end boutique property is defined as one which is:<br \/>\n\uf0b7Small and intimate with 20 \u2013 70 rooms.<br \/>\n\uf0b7Characterized by hands-on, personal service with a high staff to guest ratio.<br \/>\n\uf0b7Located in a unique setting.<br \/>\n\uf0b7Upscale with sophisticated accommodation standards.\uf0b7Constructed and furnished in a themed, intimate style and\/or aspirational manner.\uf0b7Committed to maximizing local content.<br \/>\nAny project deemed approved on the basis of false information will be removed immediately from the approved list.<\/p>\n<p>Application Process:<br \/>\nThe application MUST include:<br \/>\n\uf0b7A proposal which includes all the required elements detailed in the attached checklist.\uf0b7A $5,000 USD due diligence fee.\uf0b7Completed director\u201fs and\/or partner\u201fs profiles.\uf0b7A duly signed Statutory Declaration from each director or partner.<br \/>\n\uf0b7Requisite supporting documents.<\/p>\n<p>Procedure for Assessing Projects:<br \/>\nIn assessing real estate projects for inclusion on the approved projects list, the Unit will:<br \/>\n\uf0b7ONLY consider completed proposals.<br \/>\n\uf0b7Collaborate with Invest Saint Lucia;<br \/>\n\uf0b7Share information as necessary with Invest Saint Lucia;<br \/>\n\uf0b7Conduct or caused to be conducted a due diligence background check on the developers;<br \/>\n\uf0b7Provide an update to the developer within three (3) weeks of receiving their proposal.<br \/>\n\uf0b7From time to time, request additional information from the applicant.<br \/>\n<script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- 250 x 250 --><br \/>\n<ins class=\"adsbygoogle\"\n     style=\"display:inline-block;width:300px;height:250px\"\n     data-ad-client=\"ca-pub-9333894214183084\"\n     data-ad-slot=\"6648982452\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The following guidelines are made subject to Regulation 10 and Schedule 3 of the Citizenship by Investment\u00a0Regulation No. 89 of 2015 (\u201e\u201ethe Regulations\u201f\u201f) . The Citizenship by Investment Unit (\u201e\u201ethe Unit\u201f\u201f) will consider real estate projects to be included on the list of approved\u00a0projects for the Citizenship by Investment Programme (\u201e\u201eCIP\u201f\u201f). The Unit will consider [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Guidelines for Real Estate Projects-Citizenship by Investment<\/title>\n<meta name=\"description\" content=\"Guidelines for Real Estate Projects - These are made subject to Regulation 10 and Schedule 3 of the Citizenship by Investment Regulation No. 89 of 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.stluciacitizenshipblog.com\/investment\/guidelines-for-real-estate-projects\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Guidelines for Real Estate Projects-Citizenship by Investment\" \/>\n<meta property=\"og:description\" content=\"Guidelines for Real Estate Projects - 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