The Government of Saint Lucia feels satisfied that this investment will be a key driver for the south and catalyst further investments in the southern part of the island.
For these reasons, the Government has pledged its support and assistance to DSH by taking a number of steps which will aid the success of the project.
Prime Minister Chastanet announced that the Government will be making adjustments to the Citizenship by Investment Act as certain activities contemplated by this project does not fit within the current categories. For instance, the horse racing aspect of the project, which is central to its lifestyle component, needs to be incorporated within the categories of an approved project, not on its own, but within the broader context of an integrated development, and not solely based on an hotel construction.
The sheer scale of this project and the Eastern market it targets, makes it necessary for the Government to review the limitation of applications stipulated by the CIP legislation which has imposed a limit of 500 applications per annum. And as such, the Prime Minister said that it would be prudent in the circumstances, to remove that limitation and allow the number of approvals to be determined by policy considerations rather than within a legislative framework.
The Government has also undertaken to use its best endeavours to speed up the processing time of CIP applications after approvals, without sacrificing the Prime Minister assured, the integrity of the process, particularly in relation to the due diligence process.
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