Six months ago, in September 2022, the Citizenship by Investment Unit (CIU) of St. Lucia announced that it was lifting the ban on Iranian citizens from applying for citizenship through its citizenship by investment program. This decision was a welcome relief for many Iranians who were interested in investing in St. Lucia and obtaining citizenship through the program.
The St. Lucia citizenship by investment program allows foreign nationals to obtain citizenship in the country by investing in its economy. This decision was welcomed by Iranian citizens who were previously banned from the program. Many Iranians saw the citizenship by investment program of St. Lucia as an opportunity to invest in a stable and prosperous country and to obtain citizenship that would allow them to travel more easily and conduct business with other countries.
Reversal of the September 2022 Decision – Iranians Banned Again
On February 20th, 2023, St. Lucia’s Citizenship by Investment Unit (CIU) announced that the previous decision has been reversed and the unit will no longer accept applications from Iranian citizens.
Under the citizenship by investment program, foreign nationals can obtain citizenship of St. Lucia by making an investment in the country. The program is designed to attract foreign investment and stimulate economic growth in St. Lucia. However, the government of St. Lucia reserves the right to deny citizenship to any individual if they believe that granting citizenship would be against the national interest or if they believe the individual poses a risk to the country’s security or financial stability.
The decision to ban Iranian citizens from the St. Lucia citizenship by investment program is not unique. Several other countries have also imposed restrictions on Iranians due to concerns about international sanctions and other issues. In recent years, Iran has been subject to extensive international sanctions, particularly in relation to its nuclear program. These sanctions have made it difficult for Iranians to travel, do business, and access financial services in many parts of the world.
The St. Lucia CIU has stated that its decision to ban Iranian citizens from the program is based on its commitment to complying with international regulations and its obligation to ensure the integrity of its citizenship program.
Is Iran the Only Country Banned From Applying for St. Lucia Citizenship by Investment?
No, Iran is not the only country that has been banned from applying for St. Lucia citizenship by investment. Other countries that have been restricted from the program include:
- The Republic of Belarus
- The Russian Federation
After being banned from St. Lucia’s citizenship by investment program, Iranians are now only eligible to apply for Dominica’s program among all the Caribbean citizenship by investment programs. While Grenada’s program does not impose an outright ban on any nationalities, service providers catering to Iranian clients have reported that Iranians are effectively not accepted in practice.
About Passport Legacy
The St. Lucia citizenship by investment program can be an excellent opportunity for those looking to gain dual citizenship and the ability to live, work and study visa-free in numerous countries. With Passport Legacy’s expertise, investors can have peace of mind that every step of the process is taken care of. We offer personalised advice tailored to individual circumstances, helping make this process as simple and straightforward as possible. For further details, please feel free to connect with us.
