Saint Lucia Citizenship Investment Programme makes top three in the 2022 CBI Index

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Black Immigrant Daily News

News Americas, Castries, St. Lucia, Aug. 26, 2022:St Lucia took third place in this year’s instalment of the CBI Index – which ranked 13 countries with operational citizenship by investment programmes.

Seen as an industry voice and reliable source for those looking to vet CBI programmes around the world, the CBI Index is published annually by the Private Wealth Management magazine, a publication of the Financial Times, and in partnership with CS Global Partners.

This year, St Lucia was ranked alongside Antigua and Barbuda, Austria, Cambodia, Dominica, Egypt, Grenada, Jordan, Malta, Montenegro, St Kitts and Nevis, Turkey, and Vanuatu.

The CBI Index ranked these jurisdictions across nine pillars including Freedom of Movement, Standard of Living, Minimum Investment Outlay, Mandatory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family and Certainty of Product.

Having recently welcomed Mc Claude Emmanuel to the position of Chief Executive Officer of its CBI unit, St Lucia was recognised its affordable minimum investment outlay, reasonable mandatory travel or residence requirements and ease of application processing.

“This recognition means a lot to us. The CBI Index is a globally recognised report that has been assessing CBI programmes for the last six years and not only will investors gain insight into our programme but it also gives us an opportunity to improve aspects of our programme to increase our scores next year,” said notes Mc Claude Emmanuel, CEO of St Lucia’s CPI Unit.

Investors can become a citizen of St Lucia in as little as 90 days by investing only a minimum of US$100,000 through its National Economic Fund, and busy entrepreneurs are not required to stay in the country for prescribed periods of time.

There weren’t many significant changes in the minimum investment outlays since the 2021 CBI Index, this was reflected in no change in the order of the final scores.

There were also no changes from the 2021 CBI Index to scores under the Mandatory Travel or Residence Pillar – Caribbean nations continue to rank highly in this area.

The country scored 87% overall.

St Lucia scored 9 out of ten for Due Diligence, Citizenship Timeline, and Family.

A very important aspect of any CBI programme is its ability to vet applicants and ensure that only honest individuals who can account for how they make a living are accepted into the programmes.

“We are on an ongoing drive to continuously enhance the due diligence processes of our programme as we are very keen to protect its integrity and value,” noted Mc Claude Emmanuel.

With ongoing geopolitical tensions, special attention is now being given to jurisdictions that offer CBI programmes. The international community is concerned that these programmes may offer boltholes for suspect characters looking to evade the law.

International respect is vital for any CBI programme to thrive, and a layer of ongoing monitoring is becoming a key pillar of reputable CBI Units such as that of St Lucia. Caribbean nations are setting global best practices when it comes to advancements in due diligence processes.

The Citizenship Timeline Pillar looks at the average time taken for citizenship to be secured by the applicant. One of the key merits of CBI programmes is their ability to provide a rapid route to second citizenship; St Lucia was awarded top points for its short turnaround times, which takes three months for citizenship to be granted from the date the Authorised Agent is notified that the application has been accepted for processing.

The CBI Index recognises that the rise of increasingly complex family relationships is driving investors to seek programmes that allow for a more diverse range of family members to be included under a primary application.

As an additional layer of nuance to its scoring system, this year’s CBI Index also draws a distinction between family members who are allowed to apply with and obtain citizenship at the same time as the main applicant and those who can apply at a later stage and because of the main applicant has already received citizenship.

Multiple family member categories were considered, with points being awarded for adult children, parents, grandparents and even siblings. Additional merit was also given to programmes with provisions for family members of the main applicant’s spouse. Additionally, the degree of flexibility within each of these categories can differ radically from programme to programme.

St Lucia scored 8 out of 10 in the Certainty of Product pillar. This pillar encompasses a range of factors that measure a programme’s certainty across five different dimensions: longevity, popularity and renown, stability, reputation, and adaptability.

Longevity measures the age of a given programme while Popularity and renown evaluate the number of applications and naturalisations under each programme per year, as well as a programme’s eminence in the industry.

The reputation of a programme was determined by the amount of negative press or the number of scandals it has been linked to, affecting investors’ broader perceptions of the countries in which they invest. Just as important, however, is evidence that programme funds are being utilised for social good. Points were awarded for a jurisdiction’s transparent use of CBI funds, for example for the development of domestic healthcare, education, tourism and other infrastructure. One of the main ways that investors can become citizens of St Lucia is through its Economic Fund which Mc Claude Emmanuel has said will “benefit all St Lucians by investing in social interventions and assisting the country to be food secure as assistance will be given to local farmers.”

Lastly, adaptability reflects a programme’s ability to rapidly respond to, and sometimes even predict, the needs of applicants and the industry.

St Lucia continues to offer a popular programme with consistently high application volumes, stability with no caps on the number of applications or specific calls to end the programme, and adaptability both in respect of changes to keep the programme functioning during Covid-19 and its swift response to the Russian invasion.

St Lucia, along with Antigua and Barbuda, Dominica, Grenada and St Kitts and Nevis scored seven out of 10 in the Freedom of Movement pillar. St Lucia has access to 15 of the 20 key business hubs assessed in the 2022 CBI Index.

Lastly, St Lucia scored six out of 10 for its decent freedom, GDP growth and GNI scores.

Download the full CBI Index here, to get further insights into the CBI industry and a full evaluation of the CBI programmes of the 12 other jurisdictions in the rankings.

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BARBADOS-TRADE-Barbados to host inaugural AfriCaribbean Trade and Investment Forum

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Black Immigrant Daily News

The content originally appeared on: Cana News Business

Post Content

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John Krishnadath: ‘De SVB zoekt al langer dan een maand naar nieuwe bondscoach’

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Black Immigrant Daily News

The content originally appeared on: De Ware Tijd Online

door Ricky Wirjosentono PARAMARIBO — Het bestuur van de Surinaamse Voetbalbond (SVB) zag  vorig week het vertrek van bondscoach Stanley

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La lutte contre l’inflation va “faire souffrir”…

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Black Immigrant Daily News

The content originally appeared on: Guadeloupe FranceAntilles

La lutte contre l’inflation aux Etats-Unis “va faire souffrir les ménages et entreprises” américains mais y renoncer serait encore plus dommageable pour l’économie, a prévenu vendredi le patron de la Banque centrale (Fed) Jerome Powell.

Dans une déclaration d’une rare franchise, prononcée à la conférence des banquiers centraux de Jackson Hole (Wyoming), le président de la Fed a averti que la Banque centrale américaine userait “vigoureusement de ses outils” en relevant les taux d’intérêt.

Revenir à la stabilité des prix “prendra du temps” et entraînera “une longue période de croissance plus faible” ainsi qu’”un ralentissement du marché du travail”, a-t-il dit, à quelques mois des élections de mi-mandat pour l’administration démocrate de Joe Biden.

L’inflation aux Etats-Unis caracolait à 8,5% en juillet sur un an, contre 9,1% en juin, un plus haut en 40 ans, selon l’indice des prix à la consommation CPI. D’après un autre indicateur très observé par la Fed, l’indice PCE, publié vendredi, elle s’est inscrite à 6,3%, contre 6,8% sur un an.

Le président Joe Biden s’est félicité de ce repli mensuel de l’inflation assurant que les Américains commençaient à connaître “un soulagement”, grâce “aux prix de l’essence qui ont reculé tous les jours cet été”, dans un communiqué. Mais “on a encore du travail à faire”, a-t-il ajouté.

Pour M. Powell, “si ces dernières baisses de juillet sont bienvenues, une amélioration sur un mois seulement est loin d’être suffisante” et nécessitera d’être confirmée.

La Fed veut ramener la hausse des prix autour de 2%, et cette politique aura “une série de “coûts regrettables”, a-t-il déploré.

Il a redit que la Fed était prête à “une autre forte hausse exceptionnelle des taux” à la prochaine réunion du Comité monétaire du 21 septembre, après déjà deux tours de vis consécutifs de 75 points de base à chaque fois.

Le banquier central a prévenu les marchés que les taux d’intérêt iraient en territoire “restrictif”, c’est-à-dire ralentissant l’économie.

Il a aussi indiqué que la barre du taux neutre qui reflète le niveau idéal des taux, généralement évalué autour de 2,5%, pour ne créer ni de surchauffe ni refroidir l’économie, n’était plus guère d’actualité pour l’instant.

– L’héritage de Volcker –

M. Powell a admis “qu’à un certain stade, il sera opportun de ralentir le rythme des relèvements de taux” mais il a ajouté un bémol à cette notion, qui avait réjoui les marchés financiers récemment.

“L’histoire montre qu’il faut prendre garde à ne pas relâcher la politique monétaire trop tôt”, a-t-il prévenu, dans ce message qu’il a voulu “direct”.

Comme chaque année, mais cette fois plus encore, le discours du dirigeant de la plus puissante des Banques centrales était au centre de toutes les attentions lors du symposium de Jackson Hole, en présentiel pour la première fois depuis 2019.

M. Powell a reconnu que “l’inflation actuelle était un phénomène mondial et que beaucoup d’économies dans le monde faisaient face à une hausse des prix égale voire plus haute que celle des Etats-Unis”.

Pour refroidir la surchauffe des prix, depuis le printemps, la Réserve fédérale a fait passer les taux au jour le jour, qui influencent tous les autres crédits, de zéro à une fourchette entre 2,25% et 2,50%.

A plusieurs reprises dans sa déclaration, M. Powell a cité un illustre prédécesseur à la tête de la Banque centrale, Paul Volcker, crédité d’avoir su juguler une inflation galopante au début des années 1980.

“C’était un discours +faucon+”, résumait Paul Ashworth, économiste pour Capital Economics, faisant référence, dans le langage des banquiers centraux, au clan des partisans d’une politique monétaire ferme qui se focalise d’abord sur l’inflation, à l’inverse des “colombes”, plus préoccupées par le taux de chômage.

“Pas une miette pour les colombes !”, renchérissait Ian Shepherdson de Pantheon Macroeconomics.

Sur les marchés, le dollar qui avait nettement faibli dans un premier temps après l’intervention du patron de la Fed, se stabilisait vers 16H15 GMT à l’exacte parité avec l’euro à 1 dollar pour 1 euro (+0,22% pour l’euro).

A Wall Street, les trois indices accusaient le coup devant le ton ferme de la Fed, l’idée d’un coût de l’argent plus cher avec la hausse des taux grevant les perspectives de financement et de résultats des entreprises, notamment dans le secteur de la technologie.

L’indice Dow Jones lâchait 1,84%, le Nasdaq, à dominante technologique, plongeait de 2,83% et le S&P 500 de 2,15%.

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La lutte contre l’inflation va “faire souffrir”…

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Black Immigrant Daily News

The content originally appeared on: Guadeloupe FranceAntilles

La lutte contre l’inflation aux Etats-Unis “va faire souffrir les ménages et entreprises” américains mais y renoncer serait encore plus dommageable pour l’économie, a prévenu vendredi le patron de la Banque centrale (Fed) Jerome Powell.

Dans une déclaration résolue et d’une rare franchise, prononcée à la conférence des banquiers centraux de Jackson Hole (Wyoming), le président de la Fed a averti que la Banque centrale américaine userait “vigoureusement de ses outils” en relevant les taux d’intérêt.

Revenir à la stabilité des prix “prendra du temps” et entraînera “une longue période de croissance plus faible” ainsi qu’”un ralentissement du marché du travail”, a-t-il martelé dans un discours exceptionnellement bref mais déterminé, à quelques mois des élections de mi-mandat pour l’administration démocrate de Joe Biden.

L’inflation aux Etats-Unis caracole à 8,5% en juillet sur un an, contre 9,1% en juin, un plus haut en 40 ans, selon l’indice des prix à la consommation CPI.

D’après un autre indicateur très observé par la Fed, l’indice PCE, publié vendredi, elle s’est inscrite à 6,3%, contre 6,8% sur un an.

“Si ces dernières baisses de juillet sont bienvenues, une amélioration sur un mois seulement est loin d’être suffisante” et nécessitera d’être confirmée, a déclaré M. Powell.

La Banque centrale veut ramener la hausse des prix autour de 2%, et cette politique aura “une série de “coûts regrettables”, a déclaré M. Powel.

Il a redit que la Fed était prête à “une autre forte hausse exceptionnelle des taux” à la prochaine réunion du Comité monétaire du 21 septembre, après déjà deux tours de vis consécutifs de 75 points de base (0,75%).

Le banquier central a prévenu les marchés que les taux d’intérêt iraient en territoire “restrictif” et que la barre du taux neutre qui reflète le niveau idéal des taux, généralement évalué autour de 2,5%, pour ne créer ni de surchauffe ni refroidir l’économie, n’était plus guère d’actualité pour l’instant.

“Les estimations du taux neutre à long terme ne sont pas un seuil où l’on doit faire une pause”, a-t-il averti.

– L’ombre de Volcker –

M. Powell a admis “qu’à un certain stade, il sera opportun de ralentir le rythme des relèvements de taux” mais il a ajouté un bémol à cette notion déjà rapportée, qui avait réjoui les marchés financiers récemment.

“L’histoire montre qu’il faut prendre garde à ne pas relâcher la politique monétaire trop tôt”, a-t-il prévenu, dans ce message qu’il a voulu “direct”.

Comme chaque année, mais cette fois plus encore, le discours du dirigeant de la plus puissante des Banques centrales était au centre de toutes les attentions lors du symposium de Jackson Hole, en présentiel pour la première fois depuis 2019.

M. Powell a reconnu que “l’inflation actuelle était un phénomène mondial et que beaucoup d’économies dans le monde faisaient face à une hausse des prix égale voire plus haute que celle des Etats-Unis”.

Pour refroidir la surchauffe des prix, depuis le printemps dernier, la Réserve fédérale a fait passer les taux au jour le jour, qui influencent tous les autres crédits, de zéro à une fourchette entre 2,25% et 2,50%.

A plusieurs reprises dans son discours, M. Powell a cité un illustre prédécesseur à la tête de la Banque centrale, Paul Volcker, crédité pour avoir d’une main de fer jugulé une inflation galopante au début des années 1980.

Après ce discours et la publication de l’indice PCE de l’inflation, le dollar perdait 0,73% à 1,0050 dollar pour un euro vers 14H25 GMT (16H25 à Paris).

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New permanent secretary appointed to lead the Ministry of Justice Loop Jamaica

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Black Immigrant Daily News

The content originally appeared on: Jamaica News Loop News
Loop News

53 minutes ago – Updated

Prior to her acting assignment, Stewart McFarlane’s substantive role was Chief Technical Director in the Ministry, a position she held since 2016.

NEWYou can now listen to Loop News articles!

Grace-Ann Stewart McFarlane has been appointed as Permanent Secretary at the Ministry of Justice.

The appointment took effect in June 2022 after a recommendation by the Public Service Commission.

Stewart McFarlane was assigned as acting Permanent Secretary in March 2021, following the reassignment of Sancia Bennett Templer to the Ministry of Investment, Industry and Commerce.

Prior to her acting assignment, Stewart McFarlane’s substantive role was Chief Technical Director in the Ministry, a position she held since 2016.

Her other roles have included Senior Director of the Children’s Affairs Policy Division at the Ministry of Education and Regional Director at the then Child Development Agency (CDA), now the Child Protection and Family Services Agency.

While at the CDA, Stewart McFarlane formed part of the committee responsible for the operationalisation of the Office of the Children’s Registry (OCR). She was later seconded to the OCR as Registrar where she spearheaded the establishment of the National Children’s Registry.

Stewart McFarlane is a holder of a Bachelor’s Degree in Social Work from the University of the West Indies and a Master of Business Administration from Nova Southeastern University.

The Permanent Secretary also completed a Post Graduate Diploma in Public Sector Senior Management at the Management Institute for National Development (MIND). Additionally, she was among the first cohort of public sector workers, in 2016, to participate in MIND’s Public Sector Senior Leadership Development Programme.

The Minister of Justice Delroy Chuck and the staff at the Ministry welcome the appointment of Mrs Stewart McFarlane as she advances the mission of delivering quality justice services to the citizens of Jamaica.

Source

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Cardiff told to pay Nantes $6m for plane crash victim Sala Loop Jamaica

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Black Immigrant Daily News

The content originally appeared on: Jamaica News Loop News

GENEVA (AP) — A years-long transfer dispute after the death in an airplane crash of football player Emiliano Sala was decided on Friday in favour of his former club Nantes against Cardiff, which promised more legal action in the multi-million dollar case.

The Court of Arbitration for Sport (CAS) said it dismissed Cardiff’s appeal against a FIFA order that it must pay a first installment of 6 million euros ($6 million) for Sala. The full agreed transfer fee was 17 million euros ($17 million).

The 28-year-old forward from Argentina died before he could play for the Welsh club which later disputed that the transfer deal with the French club was finalized.

“The CAS Panel found the player’s transfer from FC Nantes to Cardiff City FC to have been completed,” the court said in a statement.

However, Cardiff said it would not immediately pay any money to Nantes and would likely pursue further legal action, including an appeal. CAS rulings can be challenged at Switzerland’s supreme court on limited procedural grounds.

“The award fails to decide the crucial question of FC Nantes (and its agents’) liability for the crash, which will therefore have to be decided in another forum,” Cardiff said in a statement.

“If those appeals are unsuccessful and the club is liable to pay the transfer fee the club will take legal action against those responsible for the crash for damages to recover its losses,” Cardiff said, adding: “This will include FC Nantes, and its agents.”

Though now a second-tier team, Cardiff were in the English Premier League in January 2019 when they agreed to pay a club record fee of 17 million euros for Sala.

Sala was killed along with the pilot when the single-engine Piper Malibu aircraft carrying them from Nantes crashed into the sea near the Channel Island of Guernsey.

Hours earlier, FIFA had received an online document from the Wales Football Association to complete the transfer of the player’s registration from France.

The jury at an inquest in England in March decided Sala had been “deeply unconscious” due to being poisoned by exhaust fumes before dying from severe head and chest injuries. Carbon monoxide had spread inside the cabin due to the plane’s faulty exhaust system.

The pilot did not have the correct authority to fly at night. His body was never found.

The businessman who organized the flight was sentenced to 18 months in prison last year and later was refused the right to appeal.

David Henderson was found guilty of endangering the safety of an aircraft and earlier admitted a separate offense of attempting to discharge a passenger without valid permission or authorization.

CAS said its two-day hearing in the transfer case held in March only concerned the first payment of the transfer.

Nantes said in a statement they hoped the CAS verdict marked the end of a disinformation campaign that it had not reacted to out of respect for the player and his family.

Cardiff said they are financially supporting Sala’s family members through a trust set up for them.

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UPP Pulls-Up to Support Community Small Businesses in St. George

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Black Immigrant Daily News

The content originally appeared on: Antigua News Room

UPP Pulls-Up to Support Community Small Businesses in St. George

The UPP recognizes that small businesses are an important economic engine for both local communities and the national economy. Not only do they play an important role in driving business but also in strengthening the community spirit.

On Saturday 27th August, members of the United Progressive Party (UPP) will show support for small businesses throughout the constituency of St. George. A convoy of supporters will gather at the popular food spot on Pigotts Main Road which features close to a dozen vendors. The group will also make stops in New Winthorpes, Barnes Hill and end in Potters. Along the route, they will patronize chefs, artisans, farmers and other vendors to help spark business activity in the community.

“It is time to support our small businesses, many of whom are struggling to make ends meet. We want to inspire dreamers to become successful, and individuals with ideas to create teams with vision,” said Algernon Watt, UPP Candidate for St. George.

The UPP believes that when more money is spent in the community, not only does this empower small businesses, but the entire community benefits. St. George is the second constituency to be featured in the “small business pull-up” initiative that is designed to spotlight community businesses and help generate new customers and well needed economic activity. It will also provide an opportunity for the UPP team to engage vendors one-on-one and share the Party’s plans and policies to support small businesses.

To join the caravan, or to get further information, please contact 562-9711 or 463-1111.

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UPDATED: Antigua And Barbuda Travel Advisory

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Black Immigrant Daily News

The content originally appeared on: Antigua News Room

The Government of Antigua and Barbuda has updated its travel advisory effective August 29, 2022 to facilitate the smooth movement of passengers to and from the country. Antigua and Barbuda has benefitted from a highly successful strategy of mass vaccinations, quick detection of imported and community-spread infections, and proactive public awareness campaigns in significantly reducing COVID 19 infection levels for the past five (5) months. At the same time, the State remains focused in its ongoing interventions to mitigate the risk of resurgence of COVID-l9 levels. This strategy is intended to protect and safeguard the health of both residents and visitors to Antigua and Barbuda.

Nationals and residents of Antigua and Barbuda are strongly advised to check travel advisories of destination countries prior to travel at this time.

The protocols implemented are as follows:

All COVID-l9 restrictions are to be lifted for arriving passengers by air.
COVID-9 restrictions are also tifted for persons arriving by yacht or ferry services. However, all marine pleasure craft and ferry services entering the waters of Antigua and Barbuda should contact the Antigua Port Authority, using VHF Channel 16, at least six (6) hours prior to arrival. Instructions will be given to guide the crafts to either the Nevis Street Pier or English/Falmouth Harbours, Jolly Harbour, or other holding area.
Passengers arriving aboard cruise ships are subject to the protocols enforced by the cruise lines until such time as the cruise lines themselves alter their protocols.
Visitors are required to observe all protocols as stipulated by the management businesses such as offices, banks, hotels, restaurants and excursions for the duration of their trip.
The wearing of face masks and social/physical distancing protocols in public spaces is actively encouraged throughout Antigua and Barbuda, especially wherever there are gatherings of significant numbers of people e.g., ports, supermarkets, bars and clubs.
Aniving passengers with symptoms of COVID-l9 may be isolated as determined by the Health Authorities.

Military Vessels/Aircraft and other Watercraft transporting food, medical supplies, humanitarian and emergency supplies will be required to follow the Port Authority/Port Health Guidelines and must give prior notification before arrival.

Any restrictions for maritime traffrc, and the consequential Antigua Port Authority guidelines, shall not restrict vessels engaged in innocent passage and/or transit passage, withinthe territorial seas and/or archipelagic waters of Antigua and Barbuda, under the 1982 United Nations Convention on Law of the Sea (UNCLOS).

This Travel Advisory replaces ALL previous Travel Advisories issued by the Government of Antigua and Barbuda.

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Paray criticises WASA for using debt-collection company

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Black Immigrant Daily News

The content originally appeared on: Trinidad and Tobago Newsday

News

Mayaro MP Rushton Paray.

MAYARO MP Rushton Paray is criticising a decision by the Water and Sewerage Authority (WASA) to refer its debtors to a credit-collection agency.

In a statement on Thursday, Paray referred to a newspaper report which said WASA engaged the services of Credit Chex for this exercise. He described the decision as callous.

Paray claimed this could result in paying customers having their water supplies discontinued arbitrarily discontinuing their supply. He did not explain how.

“It would also lead to customers who have been without supply for months being made to pay for a non-existent service instead of being provided with the precious commodity.”

Paray said while WASA has a serious cash-flow problem, “the collection of debt must be guided by a watertight list of debt receivables and by management competence and professionalism.”

He added, WASA should be focusing on fixing its books, improving its distribution system, and repairing damaged water mains and roads.

In response, Public Utilities Minister Marvin Gonzales said, “The vast majority of our citizens are educated and well informed, and they will ignore the populist stunt being played by my dear friend from Mayaro.”

He dismissed Paray’s claim about about WASA arbitrarily discontinuing the water supply of paying customers.

” I don’t get it. I can’t see how paying customers will be unduly worried about the authority’s debt-collection efforts.”

Gonzales said while he respects Paray as an individual, there is a difference in the views which an opposition and a government take on issues.

“The benefit of being in opposition is that it is easy to take populist positions to give the impression of caring for the citizens.

“In Government, decisions have to be taken for the benefit of all the citizens and sometimes that may mean taking action that may offend some segment of the population.”

Referring to Paray’s background in the private sector, Gonzales said, “As an astute businessman, MP Paray is well aware that there is a direct correlation between cash flows and the ability to provide a service especially a critical service of water supply.”

He said he was certain Paray is aware that if WASA improves its financial performance, “this will redound to an improvement in service levels to customers.”

This, he said, also includes Paray’s constituents.

“If he (Paray) truly believes in his statement, is he willing to also abandon his calls and pleas for better service especially when Mayaro is set to benefit from a major investment to improve supply to the citizens there?”

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