Citizenship By Investment - St. Lucia

St. Lucia is a member of the United Nations, CARICOM, OECS and the Eastern Caribbean Currency Union. Its regional currency (Eastern Caribbean dollar, XCD) has been pegged to the USA dollar at arate of 2.70 since 1976. The island nation attracts foreign business and investment, especially in its international banking and tourism industries.

The Citizenship by Investment Programme of St. Lucia was established in 2015 with the intention to become the most innovative and secure Programme in the region. It compares very favourably to Dominica in terms of the cost.

Advantages of Obtaining Citizenship from St. Lucia:

• A St. Lucia passport allows visa-free travel to more than 120+ countries, including the UK, EU and Hong Kong.
• Favourable tax environement: no taxation on worldwide income. No capital gains,estate or inheritance tax.
• No physical residency requirements
• No interview, education or managerial experience required
• Fast processing
• Inclusion of dependent children under 25.
• Inclusion of dependent parents above 65 who are currently residing with the applicant
• Inclusion of mentally or physically challenged dependent children and/or parents
• Offers variety of investment opportunities

Investment Criterias:

The applicant choose from any of the below mentioned criteria:

1. Contribution to National Economic Fund (NEF)

High net worth individuals may choose to make monetary contribution to the NEF organization.

2. Real Estate

Applicants may purchase property valued at a minimum of USD 300,000 in a pre-approved real estate development area. The property must be owned and maintained for a minimum of five years. Property registration, processing fees and taxes must be paid in addition to the property purchase.

The following government administration fees apply:

3. Government Bond Investment:

Upon approval an applicant and accompanying family may opt to invest in Saint Lucia government bonds, which must be held for five years. The bond amount will vary depending on the size of the family.

The government bond option carries an administration fee of USD 50,000 per application.

4. Enterprise Project Investment:

Applicants may invest a minimum of USD 3.5 million in an approved enterprise project and create at least three jobs. Two applicants may share an investment of USD 6 million and create six jobs to qualify. Approved enterprise projects must fall under one of the following categories: specialty restaurants, cruise ports and marinas, agro-processing plants, pharmaceutical products, ports, bridges, roads and highways, research institutions and facilities, or offshore universities.

The following government administration fees apply:

Required Documents for Application:

• Birth certificate of all applicants
• Marriage Certificate
• Clear criminal records
• A bank financial statement with proof of a legal source of income
• Medical examination (health certificate that it is free of diseases)
• CV and recommendation letters

Procedure:

1. File preparation, advisory and due diligence fees are applicable at this step.
2. Citizenship file submission.
3. Government ‘s Citizenship-by-Investment Unit issues “Approved in Principle” letter
4. Investment made in selected option. Payment of government fees.
5. Naturalization certificate is issued.
6. Submission of passport application. Passport issuance.

Timeframe:

The timeframe for the completion of the process is approximately 3 to 4 months from submission of the application to issuance of the passport, assuming there are no areas of concern with the application.

The following basic fees apply to all investment options and shall be quoted at the time of application:

• Due Diligence Fees
• Processing Fee
• Passport Fees
• Professional Fees

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions. We also suggest that independent legal, tax, professional advice be obtained by the user of this information before proceeding with the application.