The Senate and House of Assembly of the island nation passed a Citizenship by Investment Act No. 14 of 2015 which is intended to attract more investment to the island. The programme was formally launched in Monaco on 7th October, 2015 as part of Arton Capital's Annual Global Citizen Forum.
St. Lucia is the fifth Caribbean jurisdiction to launch a Citizenship-by-Investment Program in order to attract new investors. The Prime Minister and Minister of Finance Dr. Kenny Anthony told the House of Assembly that it was not easy agreeing to the program, but the reality of the economic situation demands action.
In presenting the bill in Parliament, the Prime Minister vowed to ensure Saint Lucia’s program is built on transparency.
“I believe that there are some overriding principles that have to apply when considering such a program. Firstly, the honour and integrity of Saint Lucia must be uppermost. We cannot enter into this programme and make citizenship available to the highest bidder at any price, at any cost,” said Dr. Kenny Anthony.
The Act states that any person over the age of 18 who meets the qualifying criteria, together with his/her dependents, may apply to be registered as a citizen of Saint Lucia. The application, which is to be completed by the applicant and submitted via an authorised agent, must include, among other things, the following: