The government of Saint Lucia is aggressively investing in its population, with youngsters at the top of the list. The nation is progressing rapidly, notably in terms of infrastructural development and economic initiatives. This growth and development is credited to the Citizenship by Investment Programme (CIP).
Countries around the world have realized the value of investing in their youth. Alongside giving basic facilities such as healthcare, education, work, and housing to their people, developing economies are also taking steps to empower their youth. These initiatives essentially determine a nation’s rate of advancement. Similarly, Saint Lucia’s economy has been bolstered by the substantial influx of capital generated by the Citizenship by Investment Programme, guaranteeing a brighter future for its young people.
In recent years, employment rates on the island have increased significantly. This is directly related to the development of numerous multimillion-dollar projects stimulated by the country’s CIP-generated foreign investment.
The development of infrastructure is creating multiple opportunities not only for investors but also for the country’s youth in various industries, including hospitality, service, architecture, banking, and media.
Recently, the Global Hyatt group signed a contract to build the 345-room Grand Hyatt in Saint Lucia. The project will give employment possibilities in construction, operations, and management for at least 2,000 locals. In addition to providing a substantial boost to the economy, it will create numerous opportunities for ambitious young people to advance professionally and achieve financial independence. This is only one of the several instances in which foreign investment positively benefits the nation.
A local youth named Mathurin who is a Saint Lucian media and communications specialist, said her career is ascending to new heights. She has voiced confidence in the CIP’s role in development of more opportunities.
“It makes me so glad whenever our abilities and achievements are recognized. As a young Saint Lucian and a young creator, I look forward to initiatives such as CIP directing our resources in the proper direction “said Mathurin.
Mathurin anticipates that the programme will provide her with a larger stage to exhibit her talents and refine her abilities. She is only one of the young professionals who would profit from the increased investment due to the growth and development of CIP in Saint Lucia.
The Citizenship by Investment Programme of Saint Lucia enables foreign investors to become citizens of the country in exchange for investing in the country’s economy. It is a highly desirable programme, ranking third on the CBI Index of 2022 with a score of 87.0% and 78 points.
The Professional Wealth Management Magazine (PWM), published by the Financial Times, releases the CBI Index annually. It gives an in-depth analysis of citizenship by investment programmes in thirteen jurisdictions.
Saint Lucia has excelled in the minimum investment expenditure, freedom of travel, and processing ease pillars. This score has attracted a wide variety of investors with sufficient finances to invest in the country. Thus, the scheme has been advantageous for both the country and the investors.
An additional benefit of the programme for young Saint Lucians is the development of broader business networks. CIP investors frequently bring considerable entrepreneurial networks from their particular sectors to the country. Working and partnering with investors provides an excellent platform for the growth of existing firms while also driving the growth of new businesses and industries. While investors obtain a stable and secure environment from which to operate their enterprises, young professionals have the chance to learn from industry experts and reach their full potential.
Since the Covid-19 pandemic, the government has prioritized the development and improvement of public health infrastructure and services. Therefore, CIP funding is also allocated to the health sector.
The Ministry of Health, Wellness, and Senior Affairs recently gave a haematology analyzer and an immunoassay analyzer to St. Jude Hospital in the seaside city of Vieux Fort. These improvements to the nation’s healthcare infrastructure will improve diagnostic testing services. In this situation, young and senior persons will benefit from CIP funding.
This is only one of the several effects of the Citizenship by Investment Programme in Saint Lucia. However, the initiative benefits not only the country’s residents but also its investors. They receive a safe, secure, and stable environment in which to raise their families and develop their companies.
SAINT LUCIA: PROGRAM FOR CITIZENSHIP BY INVESTMENT (CIP)
Saint Lucia is the most recent Caribbean nation to allow Citizenship by Investment. Even though the programme was created only six years ago, in 2016, according to the CBI Index of 2022, it is already ranked one of the top three countries for Citizenship by Investment. The CIP of Saint Lucia offers various advantages, including:
1: Offering investors global mobility
2: Delivering chances for diversifying investors’ portfolios
3: Planning wealth and international business expansion
4: Ability to transfer citizenship to future generations
