The Citizenship by Investment Unit of Saint Lucia has announced that the CIP processing time has been significantly reduced averaging just 80 days. The normal processing times taken by unit is 3 months.
CIP Saint Lucia has made a statement that
“This milestone has been recognized by the market and we want to keep this going. Our close working relationship with our law enforcement agency coupled with our launch on October 31, 2017, of the “Pre-Processing of Law Enforcement Module” has been the contributors to such achievements.”
Saint Lucia currently do not offer accelerated processing of CIP applications.
Below are the steps that each application will go through when being considered by the Citizenship by Investment Unit.
- Application received;
- Compliance check completed;
- Due diligence background check completed;
- Unit recommendation sent to the Citizenship by Investment Board;
- Board decision made;
- In the event that the application is approved, qualifying investment made by applicant;
- Certificate of Citizenship granted.
CIP applicants must note that incorrect and/or incomplete information will delay the processing of your application.
CIP Amendments 2019
Saint Lucia has cut real estate fees to $30,000 (from $50K) by amending Citizenship by Investment (Amendment) Regulations 2019. For real estate developers, if an escrow account cannot be established in Saint Lucia, the establishment of an escrow account by a registered and regulated bank outside Saint Lucia
Last week St Lucia simplified CBI regulations making it easy for child, spouse to be granted citizenship within five years post granting citizenship
The new Non-refundable administration fees applicable for an approved real estate project
- Applicant applying alone – US$30,000
- Applicant applying with spouse alone – US$45,000
- Each additional qualifying dependant (under 18 years of age) – US$5,000
- Each additional qualifying dependant (18 years of age and over)- US$10,000
- Applicant applying with spouse and more than four qualifying dependants US$10,000 for each additional qualifying dependant of any age.”.
No other changes proposed for other options.
