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Transcript

“Almost Criminal Not to Have a CIP”: Philippe May Says SVG Is Ready for a New Era · IMI Podcasts

• 0:00
  SPEAKER_00: For many years the New Democratic Party, referred to as NDP, of St.
• 0:04
  SPEAKER_00: Vincent and the Grenadines, or SVG, made it clear that it is almost criminal to not have a citizenship by investment program in the country.
• 0:16
  SPEAKER_00: Given that the other five independent member states of the Organization of East Caribbean States, Dominica, Antigua and Barbuda, Saint Kitts and Nevis, Saint Lucia, and Granada, collectively, the Caribbean five, run citizenship by investment programs successfully.
• 0:36
  SPEAKER_00: This position makes sense from many perspectives.
• 0:40
  SPEAKER_00: On twenty seventh november twenty twenty five, the centre right NDP won the general elections and ended an unprecedented five term rule of the outgoing centre left United Labour Party, also known as ULP.
• 0:56
  SPEAKER_00: The margin was wide with 57% of the popular vote for the winning party.
• 1:01
  SPEAKER_00: There is no question whether the NDP will introduce a CBI program.
• 1:06
  SPEAKER_00: The question is only what the terms and conditions will be.
• 1:10
  SPEAKER_00: There is no question as to when the new CBI program comes to life because the answer is simple as soon as possible.
• 1:18
  SPEAKER_00: The new Prime Minister, Dr.
• 1:20
  SPEAKER_00: Godwin Friday, and his team have studied CBI programs thoroughly.
• 1:24
  SPEAKER_00: They did not just flaunt an idea when they said they would introduce a CBI program, they are very determined.
• 1:31
  SPEAKER_00: St.
• 1:32
  SPEAKER_00: Vincent and the Grenadines suffered financially from not having a CBI program, but being late to the market is an advantage for the new NDP government as it will avoid the mistakes that have been made in the other Caribbean five over the years.
• 1:48
  SPEAKER_00: Think financing, backlogs and bureaucratic nonsense.
• 1:52
  SPEAKER_00: The fact that SVG is still a small international financial centre where international business companies are incorporated and where one of the largest maritime registries operates will help to bring the local CBI ecosystem to life swiftly.
• 2:10
  SPEAKER_00: Even though some offshore banks operated in SVG in the past, a trust legislation is still in place and there is no lack of qualified human capital for a new CBI industry.
• 2:22
  SPEAKER_00: It's a political irony that the outgoing ULP has teamed up with and endorsed political parties in other Caribbean countries that run a CBI program.
• 2:33
  SPEAKER_00: Of course, there will be various possibilities for real estate investments should this become an option under the new program.
• 2:41
  SPEAKER_00: SVG has 32 islands, more than all other Caribbean five combined, and has attracted notable luxury brands like Mandarin Oriental and Sandals to operate resorts.
• 2:53
  SPEAKER_00: The island of Mystique, home to Hollywood A listers and British royalty alike, is a unique example of public private partnership.
• 3:02
  SPEAKER_00: Hence, I have no doubt that the country will manage its new CBI program in the most professional and competitive fashion.
• 3:11
  SPEAKER_00: Prime Minister Dr.
• 3:12
  SPEAKER_00: Godwin Friday, as a pro business and pro growth politician, will not miss the opportunity to deliver on his campaign promises.
• 3:21
  SPEAKER_00: As a family man with a stellar personal and political reputation, he will earn the trust of the global investment community soon.
• 3:30
  SPEAKER_00: I am confident that SVG will reshape the CBI market and make great contributions to the industry for the benefit of all stakeholders.
• 3:40
  SPEAKER_00: This episode first appeared as an article by Philippe May on IMIDAily.com.
• 3:47
  SPEAKER_00: Subscribe for free to the IMI newsletter for breaking news and updates from the investment migration industry, and upgrade your membership to IMI Pro to get access to our exclusive professional community, citizenship catalogue, investment migration company Rolodex, private briefings, and more members only content.