The Citizenship by Investment Unit (CIU) of Saint Lucia has informed authorized agents that nationals of Iran will no longer be able to apply to the country’s citizenship by investment program (CIP).
The decision, it appears, was not one made by the CIU itself but rather by third-party service providers, without whose cooperation the normal functioning of the CIP cannot proceed.
A statement from the CIU dated August 9th states:
“We have recently been informed by all of the due diligence firms who conduct due diligence checks on behalf of the Citizenship by Investment Programme that they are unable to undertake due diligence checks on site in Iran and validate documents issued from Iran. This is applicable for all Iranian citizens residing in and out of Iran.
Furthermore, the sole domestic bank that facilitates banking for the Unit will not facilitate inflows of funds that are coming out of Iran for the Citizenship by Investment Programme.
Pursuant to the formerly stated developments, the Unit shall not be accepting citizenship by investment applications from Iranian citizens resident in Iran and elsewhere.
Please be guided accordingly.”
Saint Lucia is the first Caribbean CIP (and second in the world, after Malta) to impose an outright ban on Iranian applicants. Saint Kitts & Nevis and Antigua & Barbuda also do not accept applications from Iranian nationals except in certain cases where the applicant has been a permanent resident in a short list of designated countries or emigrated from Iran before the age of majority.
Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 16 years in the United States, China, Spain, and Portugal.