Revised Laws of Saint Lucia (2021)

31.   Authorised agent

1.  

   (1)   An application for an authorised agent's licence shall be submitted to the Unit.

1.  

   (2)   An application submitted under subsection (1) shall be made on the prescribed form and accompanied by —

   1.  

      (a)     the prescribed fee; and

   1.  

      (b)     such evidence of the applicant's professional qualification, ability, resources, experience and integrity, as the Unit may require.

1.  

   (2A)   The Board may, on the recommendation of the Unit, grant with or without conditions or refuse to grant an authorised agent licence. (Inserted by Act 12 of 2019)

1.  

   (2B)   Where the Board grants an application under subsection (2A), it may issue an authorised agent licence in the prescribed form on payment of the prescribed authorised agent licence fee. (Inserted by Act 12 of 2019)

1.  

   (2C)   An authorised agent licence permits an authorised agent to —

   1.  

      (a)     make an application on behalf of an applicant under section 30;

   1.  

      (b)     perform duties related to an application for citizenship by investment as specified under this Act or requested by the Unit and the Board.

1.  

   (Inserted by Act 12 of 2019)

1.  

   (3)   An authorised agent shall maintain a place of business in Saint Lucia and shall promptly inform the Unit of any changes in the address.

1.  

   (4)   The Board may revoke an authorised agent licence if —

   1.  

      (a)     the ability, resources, experience or integrity of the authorised agent has fallen below the standard that might reasonably be expected;

   1.  

      (b)     the prescribed fee remains unpaid for 14 calendar days after it has become due;

   1.  

      (c)     the requirements of subregulation (3) have not been complied with; or

   1.  

      (d)     the authorised agent has contravened any of the provisions of this Act.

1.  

   (Amended by Act 12 of 2019)

1.  

   (5)   An authorised agent shall —

   1.  

      (a)     sign a written agreement with the Board, among other things, agreeing to adhere to the terms and conditions of the Citizenship by Investment Programme;

   1.  

      (b)     prior to being granted a new licence, be reviewed by the Unit as to performance and suitability for continued involvement with the Citizenship by Investment Programme;

   1.  

      (c)     be responsible for all promotion, advertisement or publication in relation to Citizenship by Investment published or disseminated publicly by any sub-agent, promoter, media outlet, entity or person on behalf of or in conjunction with the said authorised agent;

   1.  

      (d)     take reasonable steps to confirm the identity and reputation of each promoter with whom the agent enters into agreement, engages or acts in conjunction with;

   1.  

      (e)     not engage or use any person or entity as a promoter who has not been registered and in respect of whom the prescribed annual fee has not been paid;

   1.  

      (f)     pay or cause to be paid the prescribed fee in respect to each promoter he or she engages, collaborates with or otherwise uses in relation to the Citizenship by Investment Programme.

1.  

   (6)   Each promoter shall comply with the terms and conditions of the Citizenship by Investment Programme.