Citizenship by Investment Programme Saint Lucia: Annual Report 2015-2016

Saint Lucia Citizenship by Investment Unit annual report 2015/16 (first six-month period, Oct 2015-Mar 2016): set-up, approved and pending real-estate projects, due diligence, legal (applications list), agreements, marketing, financial report. Recorded earlier: applications (2; 5 persons), revenue by fee category (Table 1), costs, no contributions or transfers, projects approved (2). Now recorded: project development costs (Bay Gardens US$15M, Belvedere Phase 1 US$92M, pending Black Bay $168M and Sab Wee Sha $220M), hotel rooms (60, 112), planned jobs (100), direct economic activity (US$3.7M), proposals received (4), per-application investment values (US$250,000; the second printed "$200,00.00", recorded literally with a warning), licensed agents (8 authorised, 2 marketing, 2 promoters), marketing agents' licence fees (US$30,000 a year each; US$150 thousand each paid in advance), start-up grant (EC$1,049,285), PPE spending (957 thousand: 577, 172, 208), cash (405 thousand), deferred grant (981 thousand), deficit (579 actual, 845 budget), savings against budget (266 thousand, 31%), revenue 5% above and programme cost 6% below budget, projected staff (18). Chart 1 repeats Table 1 as percentages. Not recorded as out of scope: 420 employees of the developer's whole hotel group, 80% occupancy of existing hotels, 125 villas, website visitor shares (57% returning), UNCTAD FDI figures, contract durations, the extra XCD50,701.20 renovation variation (an item of the PPE spending already recorded) and the 14 mobile handsets.