Saint Lucia Citizenship by Investment
Overview
As one of the top honeymoon destinations, St Lucia is a beautiful volcanic island located in the Caribbean with exotic beaches, rainforests and it claims to fame, the towering twin-peak mountains named The Pitons. St Lucia is one of the most developed nations in the Caribbean offering advanced and modern facilities and infrastructure. Establish in 2015, St Lucia is now offering high-net-worth individuals the opportunity to gain citizenship with more investment options than any other island including donation, real estate, government bond, and enterprise investments.
Although the citizenship program is fairly new, St Lucia has become one of the most sought-after passports in the Caribbean. Successful applicants can obtain a passport within as little as 3 months through the streamlined process set by the Citizenship By Investment Board.
Advantages
- Investment is only required after the application approval
- Dual citizenship
- Visa-free travel to over 140 countries including the EU & the UK
- Right to live, work and study in St Lucia and any of the CARICOM member countries
- Confidential (St Lucia does not notify your home country)
- Passed to future generations
- Remote application and no residency requirements
Requirements
Applicants proceeding with the citizenship by investment program must be at least 18 years of age and hold a clean criminal record. The St Lucia Citizenship By Investment Board conducts a thorough due diligence process to ensure only the highest moral standing applicants can proceed. Applicants are required to provide personal documentation such as passports, national IDs, birth and marriage certificates, and proof of funds. Along with the required documentation, applicants have the choice of proceeding with 4 investment options.
Investment Options
Applicants proceeding with the citizenship by investment program must be at least 18 years of age and hold a clean criminal record. The St Lucia Citizenship By Investment Board conducts a thorough due diligence process to ensure only the highest moral standing applicants can proceed. Applicants are required to provide personal documentation such as passports, national IDs, birth and marriage certificates, and proof of funds. Along with the required documentation, applicants have the choice of proceeding with 4 investment options.
Investment option 1: Donation
Applicants can proceed with a non-refundable donation to the NEF (National Economic Fund) starting at USD$ 100,000. The amount will increase according to the number of dependents included within the same application. The NEF is a government fund that contributes to the advancement of the infrastructure and utilities of St Lucia.
Investment option 2: Real estate
Applicants can opt to proceed with a real estate investment in a government-approved real estate project in the tourism sector. Applicants must invest a minimum of USD$ 300,000 and maintain the investment for a period of 5 years. After a set period of time, investors can choose to sell the investment without affecting their citizenship status.
Investment option 3: Government bond
Applicants also have the option of proceeding with the government bond. This is a non-interest-bearing bond and the funds will be returned to the applicant after the set period of time. St Lucia is currently offering a special covid relief program reducing the amount of the bond investment. Previously, the investment in a Government Bond was set at USD$ 500,000. This special offering comes with a 50% discount and is valid until 31 December 2021.
- Main applicant: USD$ 250,000 for 5 years
- Main applicant + 1 dependent: USD$ 250,000 for 6 years
- Main applicant + 4 dependents:
- USD$ 250,000 for 7 years; OR
- USD$ 300,000 for 5 years
- Each additional dependent: USD$ 15,000
Investment option 4: Enterprise
Applicants have the choice of proceeding with an enterprise investment instead. Applicants must invest either USD$ 3 million in a sole investment of USD$ 6 million in a joint venture. Investors can proceed in one of the following sectors:
- Specialty restaurants
- Cruise ports and marinas
- Agro-processing plants
- Pharmaceutical products
- Ports, bridges, roads, and highways
- Research institutions and facilities
- Offshore universities
Process and costs
The Citizenship By Investment Board offers a quick and simple application process. Once applicants have obtained all required documentation as well as chosen their investment route, they must submit their application through an authorized local agent (as required by law). The typical timeframe is 3-4 months and once the application is approved, applicants can proceed with their chosen investment and acquire their St Lucia passport.
Additionally, applicants are required to pay associated fees such as:
Due diligence fee:
- Main applicant: USD$ 7,500
- Dependent over 16 years of age: USD$ 5,000
Also, applicants are required to pay application and processing fees:
- Main applicant: USD$ 2,000
- Each additional dependent: USD$ 1,000
If proceeding with the real estate investment option, applicants are required to pay property application fees:/p>
- Main applicant: USD$ 35,000
- Spouse: USD$ 10,000
- Dependent over 18 years of age: USD$ 10,000
- Dependent under 18 years of age: USD$ 5,000
On the other hand, if proceeding with the enterprise investment option, applicants are required to pay:
- Main applicant: USD$ 35,000
- Spouse: USD$ 10,000
- Dependent over 18 years of age: USD$ 10,000
- Dependent under 18 years of age: USD$ 5,000
Contact us
St. Lucia offers highly developed banking systems and is known for its offshore banking services. St Lucian citizens can greatly benefit from the low tax jurisdiction where the nation does not impose taxes on income, wealth, inheritance, and capital gains.
Ready to obtain your St Lucia passport? Kraemer & Kraemer is ready to assist you. Email us at info@kraemerlaw.com
