(1) Where an applicant makes an investment by the purchase of Government bonds in accordance with the National Savings and Development Bonds Act in at least the minimum amount set out in paragraph 4(a) of Schedule 2, citizenship by investment may be granted. (Substituted by S.I. 73/2020)
(2) A qualifying investment made under sub-regulation (1) shall —
(a) be registered and remain in the name of the applicant;
(b) remain in a 5 years holding bond from the date of first issue; and
(c) not attract a rate of interest,
for the duration of the bond.
(3) Notwithstanding subregulation (1) and subject to subregulation (4), where an applicant makes an investment by the purchase of Government bonds in accordance with the National Savings and Development Bonds Act in the amounts set out in paragraph 4(b) of Schedule 2, citizenship by investment may be granted. (Inserted by S.I. 73/2020)
(4) The purchase of Government bonds under subregulation (3) must —
(a) be made by the 31st day of December, 2022; (Substituted by S.I. 214/2020 and 4/2022)
(b) be registered and remain in the name of the applicant;
(c) remain in a holding bond for the period specified under paragraph 4(b) of Schedule 2 from the date of first issue; and
(d) be non-interest bearing for the duration of the bond.
(Inserted by S.I. 73/2020)