St Lucia Citizenship by Investment Act 2020 Amendments
On 17 June 2020, some important changes to St Lucia’s Citizenship by Investment Program came into effect. The St Lucia Citizenship by Investment (Amendment) Act, 2020, targets key areas such as family eligibility requirements, post-citizenship considerations, and the timeline for the investment payment and related costs.
Revised family eligibility requirements
A big draw of applying for St Lucia’s passport by investment is that the main applicant’s family members also qualify for St Lucia citizenship.
St Lucia amended the family requirements to include a broader set of flexibilities for family members.
As of June 2020, the following family members can apply for citizenship by investment:
- Children under 21 years old
- Dependent children aged between 18-30
- Mentally or physically challenged dependent children and/or parents.
- Parents and/or grandparents aged 55 or above
- Inclusion of siblings of the main applicant, if below the age of 18, unmarried, and who’ve received consent from his or her parent or guardian to apply for citizenship by investment
By expanding the categories of eligible dependents under the St Lucia Citizenship by Investment initiative, investors and their family members have more abilities now to qualify for second passports.
The latest 2020 Act has removed the requirement that a post-citizenship application must be submitted within five years of submitting the original application. There is no time limit anymore on these type of applications for:
- Children born, or legally adopted, after submission of the original application
- Spouses married after submission of the original application
Revised time-frames for making the investment payment
In the event of unforeseen circumstances, the revised Act allows for an extension to the usual time period for the main applicant to make the qualifying investment and pay any other fees. This extension applies to both standard and post-citizenship applications.
What does this mean for me?
These ‘unforeseen’ circumstances include first and foremost, the COVID-19 pandemic. If you’re in the process of applying for Citizenship by Investment and are concerned about making your investment within the usual 90-day approval in principle timeframe due to COVID-19, an extension can be granted.
Why consider St Lucia citizenship
St Lucia Citizenship by Investment is an attractive prospect for investors looking to relocate quickly and obtain second passports within a few short months.
The program’s unique benefits include:
- Application approval within three months
- Entire family eligible for passports
- Passport starting from a $100,000 qualifying investment
- Visa-free travel to over 140 countries including EU’s Schengen Zone
- Tax freedoms
Thinking about applying for St Lucia citizenship with your family? Take a look at our St Lucia Citizenship by Investment ultimate guide for more information.
Alternatively, speak to one of our consultants in investment migration today. Whether the St Lucia passport-by-investment program or our other highly-popular residency-by-investment schemes like Portugal’s Golden Visa, our step-by-step strategy, tailored to each client, means we’re there for you every step of the way.