The Government of Saint Lucia recently made several key amendments to its legislation to make its citizenship-by-investment program even more attractive to investors and families, promising highest standards of good governance.
Through these amendments, Saint Lucia delivers a secure, transparent, fast, efficient, and professional service to prospective HNWI clients.
Here are some of the key changes to the citizenship regulations
- Average CIP application processing times reduced to 56 days making Saint Lucia fastest CBI program in the Caribbean.
- New e-payment payment platform rolled out for faster receipt payments avoiding bank delays. The e-payment platform has the capacity to receive all payments associated with the application, including the processing and due diligence fees; administrative fees for real estate and bonds, and the investment made into the National Economic Fund.
- Covid Relief Bonds are issued by Government for citizenship by investment until Dec 31, 2020. an individual is required to make a minimum investment of USD 250,000 in a non–interest-bearing government bond that must be held for five years.
- For Families, the category of ‘qualifying dependant’ has been expanded and now includes the option to “add-on” qualifying dependants in all investment options for the granting of citizenship. Besides your spouse, you can now include children up to the age of 30 as well as parents over 55 if they are fully supported by you. An unmarried sister or brother who is under 18 can also be included in your application.
The legislative documents are available for download below.
- Citizenship by Investment (Amendment) Regulations No. 73 of 2020
- Citizenship by Investment (Amendment) Act No. 4 of 2020