Saint Lucia is a Caribbean island nation that is self-governing. The island’s history is a combination of French and English influences. St Lucia was the most recent Caribbean country to initiate a Citizenship by Investment (CBI or CIP) scheme, also known as Economic Citizenship, in 2016. As dependents, the programme accepts spouses, infants, and parents.
Only certified agents who are licenced with the government may apply for the programme.
Applicants to the St Lucia citizenship by investment programme have four options. You may invest in a business project, real estate, government bonds, or make a monetary donation to the state to apply. Investments must be maintained for a period of five years. It takes 3 to 4 months to complete the application process.
There are numerous benefits of investing in the St Lucia citizenship by investment unit to get the second passport. The passport of St Lucia allows visa-free travel to several countries around the world. For 90 days in 180 days, the essential destination is Europe’s Schengen region. International income is not taxed in St Lucia unless it is remitted to the island.
The St Lucia Economic Citizenship Program offers four options to applicants. The investment must be held for at least five years.
Main Applicant Fees: Processing fee $2,000; Due diligence fee $7,500
Dependent Fees: Processing fee $1,000; Due diligence fee $5,000 (Over 16 years of age)
A $100,000 non-refundable donation to the NEF (for a single applicant).
An investment of at least $3.5 million in an authorized Enterprise Project (as specified by the regulations) and the development of at least three permanent jobs. Alternatively, a $6 million group investment (with each applicant contributing at least $1 million) and the development of at least six permanent jobs.
Approved enterprise projects fall into seven (7) broad categories:
The enterprise project becomes eligible for qualified investments from Citizenship by Investment applicants once it has been accepted.
Following approval of an application for Citizenship through Investment in an Approved Enterprise Project, the following minimum investment is required:
Additional Fees $50,000 for the main applicant. Dependents $35,000 government fee (adult) $25,000 (Minor)
The Government Bond option is non-interest-bearing
A temporary bond sale has been running since May 2020, with options beginning at $250,000 and running until December 31, 2021.
Additional Fees: $50,000 or $30,000 USD for the Covid-relief funds
An investment of at least $300,000 in an approved real estate development must be kept for a minimum of five years. Depending on the real estate developer, additional costs can be incurred.
Investment Type Detail
Applicants must spend at least $300,000 in a high-end branded hotel or resort or a boutique property that has been licensed. The investment must be held for a minimum of five years.
For an investment in an authorized real estate project, the applicant must sign a legally binding purchase and selling agreement. Investments in an authorized irrevocable escrow account maintained jointly by the developer and the St Lucia Citizenship by Investment Unit are deposited in an amount equivalent to the agreed purchase price.
Additional Fees: 50,000 USD
With the assistance of the approved agent, gather the necessary documents. There are steps to take before applying for a loan if you are investing. A purchasing agreement with an approved promoter is needed for real estate investment. The authorised agent applies after all of the documents have been collected.
The CIP unit in St Lucia will issue a receipt for the submission, which will take three months to process. The authorized agent will be informed once the application has been accepted in principle. The applicant will have 60 days from that point to complete the transaction. After this is achieved, the applicant must return the unit document evidence of the transaction.
If the application has been accepted, the CIP unit will give the applicant a letter requesting that they sign the oath of allegiance before an attorney-at-law, a Consular Officer of Saint Lucia, an Honorary Consul of Saint Lucia, a Notary Royal, or a Notary Public. The citizenship certificate is given after this is done, and the proof is submitted to the CIP unit.
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