Saint Lucia has made changes to CBI legislation under Citizenship by Investment Amendment (Act 12) of 2019. The changes has been approved and published in the Saint Lucia official gazette of the government.
By passing these amendments, St Lucia has simplified citizenship by investment rules for dependants, making it competitive with other CIP’s in the caribbean.
Among the most important changes made were, from now on, spouses and children born after citizenship by investment is granted also eligible for St Lucia citizenship and application has to be made notifying within 5 years of becoming CBI citizen .
Here are the changes made to St Lucia citizenship by investment scheme in 2019:
1. Agent license: The Board may, on the recommendation of the Unit, grant with or without conditions or refuse to grant an authorised agent licence. An authorised agent licence permits an authorised agent to make an application on behalf of an applicant under section 30;
2. Dependants: In the case of a qualifying investment in cash, the Board may grant an application for citizenship by investment to a qualifying dependant after citizenship by investment is granted to a person if the Board is satisfied that — (a) he or she was a qualifying dependant when the application was made by the citizen; (b) he or she is a child born after the application was made by the citizen; (c) he or she is the spouse of the citizen and was married after the application was made by the citizen; and (d) the application for citizenship by investment of the qualifying dependant is made no more than five years after the application was made by the citizen.
3. Extension of payments: The payment of the qualifying investment within ninety days of the grant of the application unless the applicant makes a request to the Board for an extension
4. Revoking of Citizenship : If the citizenship by investment of a citizen is revoked under subsection (1), the citizenship by investment of a qualifying dependant under section 36(1A) is revoked
The CIP Amendments were passed in the House of Assembly this 26th day of March, 2019.
The CBI Amendment act is available here
