{"id":214,"date":"2015-12-05T01:57:01","date_gmt":"2015-12-05T01:57:01","guid":{"rendered":"http:\/\/www.stluciacitizenshipblog.com\/investment\/?page_id=214"},"modified":"2022-03-25T02:52:32","modified_gmt":"2022-03-25T02:52:32","slug":"guidelines-for-enterprise-projects-for-st-lucia-cip","status":"publish","type":"page","link":"https:\/\/www.stluciacitizenshipblog.com\/investment\/guidelines-for-enterprise-projects-for-st-lucia-cip\/","title":{"rendered":"Guidelines for Enterprise Projects For St Lucia CIP"},"content":{"rendered":"<h2>Guidelines for Enterprise Projects For St Lucia CIP<\/h2>\n<p>The following Guidelines for Enterprise Projects For St Lucia CIP are made subject to the Citizenship by Investment Act No. 14 of 2015 (\u2018\u2018the Act\u2019\u2019) and the Citizenship by Investment Regulations No. 89 of 2015 (\u2018\u2018the Regulations\u2019\u2019).<\/p>\n<p>The Citizenship by Investment Unit (\u201cthe Unit\u201d) will consider enterprise projects to be included on the list of approved projects for the Citizenship by Investment Programme (\u2018\u2018CIP\u2019\u2019). 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.<\/p>\n<p>The Enterprise Project MUST:<\/p>\n<ul>\n<li>Until further notice be a\/an:<br \/>\no Specialty restaurant.<br \/>\no Cruise port and marina.<br \/>\no Agro-processing plant.<br \/>\no Pharmaceutical product.<br \/>\no Port, bridge, road or highway.<br \/>\no Research institute and\/or facility.<br \/>\no Offshore university.<br \/>\n\u2022 Comply with government policies, standards and regulations pertaining to businesses operating in the sector.<br \/>\n\u2022 Adhere to monitoring and reporting requirements of the Government of Saint Lucia and the Unit.<br \/>\n\u2022 In the case of an individual developer (sole investor):<br \/>\no Make a minimum qualifying investment of US $3,500,000.<br \/>\no Create a minimum of 3 permanent jobs.<br \/>\n\u2022 In the case of more than one developer (joint venture):<br \/>\no Make a minimum qualifying investment of US $6,000,000 with each investor making a minimum contribution of US $1,000,000.<br \/>\no Create a minimum of 6 permanent jobs.<\/li>\n<\/ul>\n<p>The Enterprise Project SHOULD:<br \/>\n\u2022 Serve to enhance \u201cBrand Saint Lucia\u201d, while promoting the best attributes of the island.<br \/>\n\u2022 Support the country\u2019s sustainable development objectives, through overall wealth creation, social equity and environmental sustainability;<br \/>\n\u2022 Be predicated on clearly viable commercial, operational and financial proposals particularly where government incentives and public sector facilitation are required.<br \/>\n\u2022 Results in sustainable, efficient and significant job creation.<br \/>\n\u2022 Enhance economic, technological, environmental and social transformation as a way of improving human well-being and the quality of life of Saint Lucians.<br \/>\n\u2022 NOT require inequitable public sector involvement and disproportionate risk bearing.<br \/>\n\u2022 Have planning approval in principle and location secured via lease or purchase.<br \/>\n\u2022 Be based on partnerships (investment\/operational\/marketing) that enhance the enterprise project\u2019s marketability and potential for success.<br \/>\n\u2022 NOT result in net transfer of resources from Saint Lucia nor compromise social equity\/stability or cause irreversible damage to the natural environment.<br \/>\n\u2022 Be realistic, implementable and sustainable.<br \/>\n\u2022 Be transparent and able to withstand full legal, financial, economic and ethical scrutiny.<br \/>\n\u2022 Assist in furthering Saint Lucia\u2019s economic and social development goals.<br \/>\n\u2022 Have a clearly determined source of funds and not be reliant on speculation.<br \/>\n\u2022 Have estimated profitability of the venture that does not require financial support from the<\/p>\n<p>Government or public sector.<br \/>\n\u2022 Have a full and acceptable project feasibility study as part of the application\/proposal.<\/p>\n<p>Definitions:<br \/>\nFor the purposes of the <a href=\"https:\/\/stluciacitizenshipblog.com\">CIP<\/a>, a specialty restaurant is defined as one which has distinguishing features including a distinct menu offering a particular type of cuisine.<\/p>\n<p>Application Process:<br \/>\nThe application MUST:<br \/>\n\u2022 Be submitted in electronic and printed form.<br \/>\n\u2022 Have all documents submitted in the English Language or an authenticated translation into the English Language.<\/p>\n<p>The application MUST include:<br \/>\n\u2022 A proposal which includes all the required elements detailed in the attached checklist.<br \/>\n\u2022 A $5,000 USD due diligence fee.<br \/>\n\u2022 Completed director\u2019s and\/or shareholder\u2019s profiles.<br \/>\n\u2022 A duly signed Statutory Declaration from each director.<br \/>\n\u2022 Requisite supporting documents.<\/p>\n<p>Procedure for Assessing Projects:<br \/>\nIn assessing enterprise projects for inclusion on the approved projects list, the Unit will:<br \/>\n\u2022 ONLY consider complete proposal.<br \/>\n\u2022 Collaborate with Invest Saint Lucia;<br \/>\n\u2022 Share information as necessary with Invest Saint Lucia.<br \/>\n\u2022 Conduct or cause to be conducted a due diligence background check on the developers.<br \/>\n\u2022 Provide an update to the developer within three (3) weeks of receiving their proposal.<br \/>\n\u2022 From time to time, request additional information from the applicant.<\/p>\n<p>Find Out More About The <a href=\"https:\/\/realtystlucia.com\/for-buyers\/step-by-step-guide-for-buying-property-st-lucia\/\">Step By Step Process For Buying this Luxury Villa For Sale in Marigot Bay, St Lucia<\/a><\/p>\n<div id=\"property-description-wrap\" class=\"property-description-wrap property-section-wrap\">\n<div class=\"block-wrap\">\n<div class=\"block-content-wrap\">\n<p>Need a\u00a0<a href=\"https:\/\/michalanders.com\/\">St Lucia Real Estate Agent<\/a>?<\/p>\n<p><a href=\"https:\/\/www.stluciacitizenshipblog.com\/investment\/guidelines-for-real-estate-projects\/\">Real Estate Projects<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"property-address-wrap\" class=\"property-address-wrap property-section-wrap\"><\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guidelines for Enterprise Projects For St Lucia CIP The following Guidelines for Enterprise Projects For St Lucia CIP are made subject to the Citizenship by Investment Act No. 14 of 2015 (\u2018\u2018the Act\u2019\u2019) and the Citizenship by Investment Regulations No. 89 of 2015 (\u2018\u2018the Regulations\u2019\u2019). The Citizenship by Investment Unit (\u201cthe Unit\u201d) will consider enterprise [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":31,"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 Enterprise Projects For St Lucia CIP<\/title>\n<meta name=\"description\" content=\"Guidelines for Enterprise Projects For St Lucia CIP are made subject to the Citizenship by Investment Act No. 14 of 2015 and the Citizenship..\" \/>\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-enterprise-projects-for-st-lucia-cip\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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