On Monday, Tourism and Investment Minister Dr. Ernest Hilaire provided insights into the mounting pressures facing the country’s Citizenship by Investment Programme (CIP), particularly from the European Union.
According to Hilaire, the EU is implementing a new mechanism that could potentially restrict visa-free access for countries with CIP programs, specifically targeting potential asylum-seeking risks. The Minister explains the process involved. The EU will now track CIP passport holders who potentially seek asylum within the Schengen region. Dr. Hilaire noted, “They want to put measures in place to monitor persons with CIP passports coming in and claiming asylum.”
“The EU now has a regime where countries with visa-free access can have that privilege revoked if their citizens behave in a manner injurious to EU interests,” he stated.
The minister remains confident in St. Lucia’s CIP regime and emphasised the integrity of its due diligence processes. “We have a very robust and rigid due diligence process at CIP, so we have no reason to be worried. We will continue to fight to ensure that we win and that the CIP remains in safe hands,” he said.
The minister assured citizens that “there is no immediate cause for concern” and said the government is constantly tightening its CIP regime.
