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2017 CIP REGULATIONS CHANGES

Posted by Realty St. Lucia on April 28, 2017
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2017 CIP REGULATIONS CHANGES

SAINT LUCIA Saint Lucia has announced several amendments to its citizenship by investment programme which are effective from January 1st, 2017.

Please see below the details of the approved changes:

  1. Removing the requirement for an applicant to provide a sworn affidavit to declare financial resources of at least US$3,000,000.00;
  2. Removing the limit of the number of applications which could be granted by the Board, previously set at a maximum of 500 applications;
  3. Providing the option for successful applicants to sign the oath of allegiance before an attorney-at-law, a Consular Officer of Saint Lucia, an Honorary Consul of Saint Lucia, a Notary Royal or a Notary Public;
  4. Adding a non-refundable administration fee of US$50,000.00 to the purchase of non-interest bearing Government Bonds;
  5. Changing the qualifying investments in the National Economic Fund. The new qualifying investments are as follows:

– Applicant applying alone US$100,000

– Applicant applying with spouse US$165,000

– Applicant applying with spouse and up to two other qualifying dependants US$190,000

Each additional qualifying dependant at any age US$25,000”.

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