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ST. LUCIA

ST. LUCIA

ST. LUCIA

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Saint Lucia has the newest and arguably the best-positioned citizenship by investment program in the Caribbean. Vibrant, discerning and alluring, Saint Lucia offers all the tropical benefits of the region while being exclusive, authentic, and engaging.

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GDP

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TIME DIFFERENCE

UTC-4

 

TOTAL AREA

616 sq. km.

 

AGE DEMOGRAPHICS

0-14: 20.8%,

15-24: 16.3%,

25-54: 42.9%,

55-64: 9.2%,

65+: 10.8%

 

LANGUAGES SPOKEN

English (official), French patois

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RELIGIONS WORSHIPPED

Roman Catholic 61.5%, Protestant 25.5% (includes Seventh Day Adventist 10.4%, Pentecostal 8.9%, Baptist 2.2%, Anglican 1.6%, Church of God 1.5%, other Protestant .9%), other Christian 3.4% (includes Evangelical 2.3% and Jehovah's Witness 1.1%), Rastafarian 1.9%, other 0.4%, none 5.9%, unspecified 1.4% (2010 est.)

 

GOVERNMENT TYPE

Parliamentary democracy and a Commonwealth realm

 

CURRENCY

East Caribbean dollars (XCD)

EXCHANGE RATE

1 USD = 2.7 XCD (2014 )

POPULATION: 163,922

Population Growth: 0.34%

 

11,600

GDP (per capita)

GDP (purchasing power parity)

$1.596 trillion (2014 est.)

 

VISA FREE COUNTRIES: 120

 

LOCATION 

Caribbean, island between the Caribbean Sea and the North Atlantic Ocean, north of Trinidad and Tobago

 

CAPITAL

Castries

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St. Lucia

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Launched in 2016, St. Lucia’s Citizenship by Investment Programme (CIP) was being recognized as one of the newest CIP in the Caribbean. In exchange for its full citizenship, applicants are required to make significant economic contributions to the country. A qualifying investment must satisfy the minimum investment requirements in one of the four approved areas, namely the Saint Lucia National Economic Fund, real estate projects, enterprise projects or government bonds. In any event, government, professional and due diligence fees are required for contributions to any of the above options.

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Why St. Lucia?

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“Vibrant, discerning and alluring, Saint Lucia offers all the tropical benefits of the region while being exclusive, authentic, and engaging.”

Saint Lucia has inherited decades of experience from its Caribbean neighbors. By hand-picking only the best practices, the Citizenship by Investment Board (CIP Board) is committed to making the program the most efficient for investors, while providing unmatched benefits for the country and its people.

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Benefits

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Saint Lucia recognizes dual citizenship, which is advantageous for business expansion and tax relief, among other benefits:

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  • Fast processing within 3 months

  • 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

  • No physical residency requirements

  • No requirement to travel to St Lucia during the application process

  • No interview, education or managerial experience required

  • No tax on worldwide income

  • Visa-free travel to over 100 destinations including the Schengen Zone (28 EU countries), UK and Hong Kong

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Eligibility Criteria

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  • On top of meeting the minimum investment requirements for any of the investment options below, applicants should also fulfill the following criteria:

  • Be over 18 years old

  • No criminal record in countries lived in during the last 5 years for offences stipulated under St. Lucia Law

  • Hold an authorized public insurance or private health insurance

  • Possess sufficient financial resources to reside in St. Lucia.

  • Provide proof of his qualifying investment among the following investment options

  • Family members, including spouse and other qualifying dependents can also be admitted along with the applicant.

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Minimum Investment Requirements

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On 12 May 2020, significant changes have been made to the CIP, substantially lessening the contribution requirements especially for families, thus making the application for citizenship by investment more affordable to the public.

Saint Lucia National Economic Fund (NEF)

 

Saint Lucia National Economic Fund is a special fund established by the government of St. Lucia with a view to receiving financial contributions for funding government sponsored projects. These funds will then be used by the government under the national development agenda.

Once an application for citizenship by means of investing in the NEF is approved, the minimum investment requirements, in addition to government administrative fees, are as follows:

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  • Main applicant: USD100,000

  • Main applicant and spouse: USD140,000

  • Each additional qualifying dependent (with applicant alone or applicant and spouse): USD25,000

  • Main applicant, spouse and up to two other qualifying dependents: USD150,000

  • Each qualifying dependent(s) in addition to a family of four: USD15,000

 

Within 3 years of receiving approval, additional children, spouse and dependents can be included merely by a payment of flat fee for passports of the following persons:

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  • New born child (twelve months of age or below): USD500

  • Spouse: USD35,000

  • Dependent: USD25,000

Real Estate Projects

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Citizenship can also be obtained upon investment in government-approved real estate projects valued at a minimum of USD300,000. These projects are either high-end branded hotels and resorts or high-end boutique properties. The investment must be held and maintained for a minimum of 5 years following the grant of citizenship.

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The non-refundable administrative fees may be waived for the main applicant and his children who are under 18 and admitted into an educational institution, subject to the discretion of the CIP Board.

Pre-approved Enterprise Projects

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Both independent and joint investments can be made to a pre-approved enterprise project. An independent investment must be valued at a minimum of USD1 million and creates at least 3 permanent jobs. Whereas every investor to a joint investment must contribute at least USD1 million for the joint investment to worth USD6 million with the creation of at least 6 permanent jobs. These approved enterprise projects must fall under one of the following categories, namely:

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  • Specialty restaurants

  • Cruise ports and marinas

  • Agro-processing plants

  • Pharmaceutical products

  • Ports, bridges, roads and highways

  • Research institutions and facilities

  • Offshore universities

Pre-approved Enterprise Projects

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Both independent and joint investments can be made to a pre-approved enterprise project. An independent investment must be valued at a minimum of USD1 million and creates at least 3 permanent jobs. Whereas every investor to a joint investment must contribute at least USD1 million for the joint investment to worth USD6 million with the creation of at least 6 permanent jobs. These approved enterprise projects must fall under one of the following categories, namely:

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  • Specialty restaurants

  • Cruise ports and marinas

  • Agro-processing plants

  • Pharmaceutical products

  • Ports, bridges, roads and highways

  • Research institutions and facilities

  • Offshore universities

Non-interest Bearing Government Bonds

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Citizenship by investment may also be obtained through the purchase of non-interest bearing government bonds. These bonds must be registered and remain in the name of the applicant for a period of five years from the date of their first issue. The minimum investment amount is set out below:

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  • Main applicant: USD500,000

  • Main applicant and spouse: USD535,000

  • Main applicant, spouse and up to two other qualifying dependents: USD550,000

  • Additional qualifying dependent(s) (of any age):  USD25,000 each

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Covid-19 Relief Bond

 

A new Covid-19 Relief Bond has been introduced into the St. Lucia Citizenship by Investment Programme on 12 May 2020, providing applicants with an additional option as they opt for the country’s citizenship. This bond offer will only be valid until the end of December 2020, with investment requirements significantly lower than that of a usual government bond. Nevertheless, the bonds do not bear any interest. The requirements as to the investment amount and holding period are summarized as follows:

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  • Main applicant: USD250,000, with holding period of 5 years

  • Main applicant and one qualifying dependent: USD250,000, with holding period of 6 years

  • Main applicant and four qualifying dependents: USD250,000, with holding period of 7 years

  • Main applicant and four qualifying dependents: USD300,000, with holding period of 5 years

  • Additional qualifying dependent(s) (up to a maximum of four qualifying dependents):  USD15,000 each

The processing fee is waived for this limited bond offering. The government fee is also reduced considerably from USD50,000 to USD30,000.

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