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The Party Is Over: Saint Lucia Is the 5th Caribbean State To Refuse Russians and Belarusians from Citizenship-by-Investment Shutterstock

The Party Is Over: Saint Lucia Is the 5th Caribbean State To Refuse Russians and Belarusians from Citizenship-by-Investment

Written by  May 14, 2022

Recently, the Saint Lucia Citizenship-by-Investment Unit (CIU) decided to stop applications review for Russian and Belarusian candidates as Caribbean News Global, the leading platform for the latest news, affairs, and updates in Caribbean countries, reports. The decision was published in a memorandum and conveyed to authorized representatives, marketing agents, and promoters. Thus, Saint Lucia joined the other four Caribbean countries in refusing Russian and Belarusian people.

 

The event background

Already on 28 February, Saint Lucia CIU declared that its banking partner closed accounts for the funds from Russia and Belarus. The reasons for this decision were initially unknown since Saint Lucia did not discriminate against Russians and Belarusians before. However, there is an opinion that the country's government has changed its political views. And this statement was confirmed by the following comments:

“The Government of Saint Lucia shows solidarity to the world community and supports Ukraine, as well as condemns Russia for its invasion of the territory of an independent sovereign country. This position of the government of Saint Lucia means that the Citizenship-by-Investment Unit is suspending the processing of applications from citizens of the Russian Federation and the Republic of Belarus. This decision takes effect immediately.”

Previously four Caribbean countries — Antigua & Barbuda, Dominica, Grenada, and Saint Kitts & Nevis — joined the world community to support the global position against the war in Ukraine and canceled the acceptance of applications from Russians and Belarusians. Saint Lucia was the last one on this list.

Citizenship-by-Investment suspension for Russia and Belarus

  • 28 February — Candidates, representatives, and marketers of the Citizenship-by-Investment Program in St. Lucia have been notified that Republic Bank Limited, one of the two CIU partner banks, has halted the facilitation of payments arriving from Russia for CIP.

  • 4 March — Dominica has temporarily banned CIP applications from Russians and Belarusians. At this time, Antigua and Barbuda have temporarily blocked CIP applications from Russian, Belarusian, and Ukrainian passport holders, alleging an inability to do necessary due diligence.

  • 8 March — St. Kitts and Nevis prohibited Russians and Belarusians from submitting applications to the country's Citizenship-by-Investment Program.

  • 10 March — Grenada suspends all registrations from Russian and Belarusian citizens.

  • 18 March — St. Lucia prohibits Russians and Belarusians from applying to its Citizenship-by-Investment Program.

Migronis, an outstanding citizenship-by-investment company, reports that the Russians have been barred from participating in all five Caribbean Citizenship-by-Investment Programs. Moreover, four of Europe's essential investment migration programs, including Malta's MEIN and MPRP, and the golden visa programs of both Greece and Portugal, are also not available to citizens of the Russian Federation at this time.

European countries immediately reacted to the situation, and already in the first days after the start of the war, they introduced restrictions on obtaining citizenship by investment. In particular:

  • 26 February — Portugal prohibits Russians from registering for its Golden Visa Program.

  • 28 February — Greece shuts down the issuing of new Golden Visas and the renewal of existing ones for Russian candidates.

  • 2 March — Malta prohibits Russians and Belarusians from submitting applications to its MEIN and MPRP programs.