DUBAI, United Arab Emirates (Mar. 20, 2025) — Hilaire makes shocking CIP admission during an investment forum in Dubai, revealing that Saint Lucia’s Citizenship by Investment Programme (CIP) skyrocketed from processing 300 applications a year to nearly 5,000 in under two years. The revelation, made on foreign soil, has triggered outrage back home, where the Deputy Prime Minister has repeatedly avoided answering similar questions from Saint Lucian journalists and the parliamentary opposition.
Ernest Hilaire’s shocking CIP admission came during an investment forum in Dubai, where he openly addressed concerns about the program’s rapid growth—issues he has repeatedly refused to answer when questioned by Saint Lucian journalists and opposition leaders at home.
“You move from processing two, three hundred files a year… to receiving almost 5,000 files within a year and a half,” Ernest Hilaire told the Dubai audience, adding that the sheer volume overwhelmed the system. He further revealed that banks flagged the massive influx of transactions, raising red flags about the CIP’s due diligence protocols. “The banks said, ‘Hold on. Why are there so many transfers for due diligence?’”
Hilaire Makes Shocking CIP Admission While Avoiding Local Media
For months, DBS journalist Lissa Joseph and Opposition Leader Allen Chastanet have demanded transparency regarding the CIP’s financial integrity, due diligence framework, and transactional oversight. Ernest Hilaire, however, dodged these questions at home—only to disclose the same information to a foreign investor audience in Dubai.
“This is a slap in the face to Saint Lucians,” said a political analyst. “He refused to answer legitimate questions at home but had no issue disclosing sensitive national matters abroad. This is not just political negligence—it’s a breach of public trust.”
U.S. Crackdown on Golden Passports Raises Stakes
Ernest Hilaire’s disclosure comes at a precarious time. As reported by Unitedpac St Lucia News, the United States has issued a 60-day ultimatum to Saint Lucia and three other Caribbean nations to tighten controls on their CIP programs, or face potential diplomatic and financial consequences. The warning, spotlighted in a New York Times exposé, has cast a harsh global spotlight on the region’s lucrative “golden passport” schemes.
This U.S. warning, paired with Hilaire’s acknowledgment that banks had already raised concerns about the CIP’s transactional volume, puts Saint Lucia at serious risk of financial blacklisting, regulatory crackdowns, and reputational damage.
Financial and Reputational Risks for Saint Lucia
The convergence of Hilaire’s public admission, U.S. pressure, and banking scrutiny has intensified concerns that Saint Lucia’s CIP could become a liability. The Financial Action Task Force (FATF) and similar international watchdogs continue to monitor CIP operations closely for signs of money laundering, corruption, and systemic abuse.
Should Saint Lucia fail to address these vulnerabilities, the consequences could extend beyond investor confidence—threatening the country’s access to global financial systems and diplomatic standing.
Calls for Immediate Action
In response, Opposition Leader Allen Chastanet has filed a judicial injunction against the Citizenship by Investment Unit, demanding a halt to what he calls “blatant corruption” under the guise of economic development.
In a strongly worded Facebook post, Chastanet declared:
“The judicial action which I have taken against the Citizenship by Investment Unit is not to stop the program, but to stop the blatant CORRUPTION.”
He outlined a series of explosive claims:
- Citizenship, legally priced at US$100,000, being undersold for as low as US$65,000.
- US$1 billion worth of citizenships reportedly granted to Galaxy for a hotel project that Prime Minister Pierre estimated at US$400 million.
- An additional US$600 million allocated to Galaxy for just US$100 million in infrastructure work.
- US$67 million worth of citizenships allegedly awarded to BEMAX, a company labeled an international criminal enterprise, in exchange for only 66 low-cost homes.
Chastanet concluded: “This is not just mismanagement, it is a betrayal of our nation. They are selling us out and we will not stand by and let it happen.”
Dominica’s Legal Breakthrough Signals Regional Shift
Adding to the regional pressure, Dominica’s High Court ruled this week that the opposition United Workers Party’s lawsuit over CBI fund management can proceed. As reported by Unitedpac St Lucia News, the court found merit in the UWP’s allegations that hundreds of millions in citizenship revenues were spent without proper parliamentary oversight.
The ruling represents a landmark moment for the Caribbean, signaling that courts across the region are now prepared to intervene in the governance of citizenship programs—and potentially hold officials accountable for mismanagement and misuse of public assets.
With legal action now underway in both Saint Lucia and Dominica, and with Washington turning up the heat, the once-lucrative CIP is transforming into a flashpoint of regional political and legal reckoning.
Stay connected with Unitedpac St Lucia News for the latest developments on this story and more breaking news from Saint Lucia and the wider Caribbean.