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2. Interpretation

(1) In this Act —

“alien” —

(a) means —
1. (i) a national of a Member State, the laws of which require a citizen of Saint Lucia to obtain a licence to own, acquire or lease land in that Member State,
1. (ii) a firm, partnership or unincorporated body of persons with more than 50% of its membership consisting of persons referred to under subparagraph (i),
1. (iii) a company —
  1. (A) that is incorporated or registered under the laws of Saint Lucia or a Member State with more than 50% of its beneficial owners, shareholders or directors consisting of persons referred to under subparagraphs (i) and (ii);
  1. (B) that has more than 50% or more of the votes exercisable at a meeting of the shareholders or which would be exercisable if a meeting of the shareholders was held, vested in persons referred to under subparagraphs (i) and (ii);
  1. (C) not incorporated in Saint Lucia or a Member State; or
1. (iv) a trustee, who is a person referred to under subparagraph (i), (ii) or (iii);

(b) does not include a citizen of Saint Lucia or a national of a Member State who is not a person referred to under paragraph (a);

“alien investor” means an alien issued with —

(a) a valid certificate under section 11 and a valid licence under the former Act; or

(b) a valid certificate under section 11 and a valid alien landholding licence under section 18;

“alien investor entrance permit” means a permit issued under section 45;

“alien landholding licence” means a licence issued under section 18;

“approved development” means a project or development approved under an enactment specified in the Schedule;

“attorney-at-law” has the meaning assigned to it under the Legal Profession Act;

“beneficial owner” means a natural person —

(a) who ultimately owns or controls a company;

(b) who exercises ultimate effective control over a legal person or legal arrangement, such as a senior manager; or

“beneficiary” means a person who obtains an entitlement to hold land under the succession of an alien;

“Board” means the Citizenship by Investment Board established under section 4 of the Citizenship by Investment Act;

“business day” means a day other than Saturday, Sunday or a Bank Holiday;

“Chairperson” means the Chairperson appointed under section 26(4);

“certificate” means a Certificate of Eligibility under section 11;

“Chief Immigration Officer” means the Chief Immigration Officer under the Immigration Act;

“debenture” includes —

(a) a mortgage or charge by a company, whether floating or otherwise on the property of the company, its undertaking, or uncalled capital;

(b) an obligation by a company, not being a bill of exchange or promissory note, for the payment of a debt or the repayment of money lent or to be lent; and

“dependant” —

(a) in relation to an individual, means —
1. (i) a spouse of an alien investor,
1. (ii) a child of an alien investor or of his or her spouse who is 21 years of age or below,
1. (iii) a child of an alien investor or of his or her spouse who is no more than 30 years of age and is fully supported by the alien investor,
1. (iv) a child of an alien investor or of his or her spouse, of any age, who is physically or mentally challenged and fully supported by the alien investor,
1. (v) the parent of an alien investor or of his or her spouse above the age of 55 years who is fully supported by the alien investor,
1. (vi) a parent of an alien investor or of his or her spouse, of any age, who is physically or mentally challenged and is fully supported by the alien investor,
1. (vii) an unmarried sibling of the alien investor who is below the age of 18 years old and who has received the consent of his or her parents or legal guardians;

(b) in relation to a company, means a person referred to under paragraph (a)(i) to (iv) who is —
1. (i) a child of a director, beneficial owner or shareholder of the company, or
1. (ii) a spouse of a director, beneficial owner or shareholder of the company;

“Development Control Authority” means the body corporate preserved under section 61 of the Physical Planning and Development Act;

“document” includes an agreement for sale, deed, vesting order or other assurance of land that purports to convey, transfer, vest or evidence title to an equitable or a legal interest in land;

“former Act” means the Aliens (Licensing) Act that is repealed under section 57;

“hypothec” has the meaning assigned to it under Article 1908 of the Civil Code of Saint Lucia;

“immovable property” has the meaning assigned to it under the Civil Code of Saint Lucia;

“interest in land” includes —

(a) ownership of land;

(b) a leasehold interest;

(d) holding a trust;

“international business company” has the meaning assigned to it under the International Business Companies Act;

“land” —

(a) has the meaning assigned to it under Article 335 of the Civil Code of Saint Lucia;

(b) includes immovable property in Saint Lucia and an interest in land in Saint Lucia;

“Land Register” has the meaning assigned to it under the Land Registration Act;

“lease” has the meaning assigned to it under Article 1509 of the Civil Code of Saint Lucia;

“member of a company” —

(a) means a person entitled under the by-laws or by resolution of a company to participate in its assets or in its divisible profits;

(b) does not include an employee or agent of the company by reason only that the amount of that employee's or agent's emoluments depends on the amount of the company's profits;

“Member State” has the meaning assigned to it under the Caribbean Community Act;

“Minister” means the Minister responsible for finance unless otherwise provided;

“mortgage” includes an instrument creating a hypothec, privilege or other charge on land;

“national of a Member State” means a person —

(a) who is a citizen of a Member State;

(b) who has a connection with a Member State of a kind which entitles that person to be regarded as belonging to or, if it be so expressed, as being a native or resident of the Member State for the purposes of the laws of the Member State relating to immigration; or

(c) that is a company or other legal entity constituted in a Member State in conformity with the laws of the Member State and which the Member State regards as belonging to it, if the company or other legal entity has been formed for gainful purposes and has its registered office and central administration and carries on substantial activity within the Member State and is substantially owned and effectively controlled by a person referred to under paragraphs (a) and (b);

“Physical Planning and Development Division” means the Physical Planning and Development Division under the Physical Planning and Development Act;

“Registrar of Lands” means the Registrar of Lands appointed under section 5 of the Land Registration Act;

“Registry” means the land registry established under section 4 of the Land Registration Act;

“Secretary” means the Secretary appointed under section 26(5);

“share” includes —

(a) stock;

(b) in relation to a company that does not have a share capital, the interest of a member of a company in the assets of that company;

“shareholder” means a person with a minimum shareholding of 25% in a company;

“the register” means the leaf of the Land Register kept in respect of a parcel of land or a registered lease under the Land Registration Act;

“Tribunal” means the Tribunal established under section 26;

“trust” —

(a) includes an arrangement, whether written or oral, express or implied, legally enforceable or not, whereby land, shares or debentures, an interest or right in land, shares or debenture is held, for the benefit of, to the order, or at the disposal of, an alien;

(b) does not include —
1. (i) the duties incidental to a mortgage,
1. (ii) the duties of a satisfied mortgagee to the mortgagor, if within 3 months after satisfaction of the mortgage the mortgaged property is revested in the mortgagor or the mortgagor's interest in the mortgage is extinguished,
1. (iii) the duties of a vendor to the purchaser pending payment of the purchase money, or after payment of the purchase money, if within 3 months after the payment the land sold is vested in the purchaser or the purchaser's interest in the land is extinguished,
1. (iv) the duties of a trustee in bankruptcy to the bankrupt or the bankrupt's creditor's, or
1. (v) the duties of a trustee for the purposes of a composition or scheme of arrangement for the payment of debts to the debtor or the debtor's creditors;

“trustee” —

(a) means a person who administers a trust;

(b) includes a personal representative;

“ultimately own or control” means direct or indirect ownership or control of 25% or more of shares, voting rights or ownership interest in a company;

“Unit” means the Citizenship by Investment Unit established under section 25 of the Citizenship by Investment Act;

“unlicensed alien” means an alien that does not hold a valid licence issued under the former Act or an alien landholding licence.

(2) For the purposes of the definition of “national of a Member State”, a company or other legal entity is —
1. (a) substantially owned, if more than 50% of the equity interest of the company is beneficially owned by nationals referred to under paragraph (a) or (b) of that definition;
1. (b) effectively controlled, if the nationals referred to under paragraph (a) or (b) of that definition have the power to name a majority of its directors or are otherwise legally entitled to direct its actions.