Saint Lucia - Citizenship by Investment Program
The 2nd Citizenship by investment program was officially launched in Monaco in October 2015. St. Lucia’s CIP allows qualified individuals and certain of their dependents to apply for St. Lucian citizenship. On January 1st 2016 Saint Lucia began receiving applications for its new and exciting Citizenship by Investment Program.
In St. Lucia, qualified individuals are able to invest in either approved real estate projects, donate to the Government of St. Lucia, purchase of Government bonds or to engage in an approved enterprise project. The CIP was created with the aim of propelling the growth of the local economy, create employment and opportunities for St. Lucians and also to revitalize and expand the island’s top foreign exchange earner, the Tourism industry.
Saint Lucia’s Economic Citizenship Programme is governed by the:-
Citizenship by Investment Act No: 14 of 2015;
Citizenship by Investment Regulations, No: 89 of 2015; and
Guidelines published by the Unit.
The Act provides for the establishment of the programme under which a person can apply for citizenship of Saint Lucia upon satisfaction of the requisite qualifying investment and other requirements under the Act and the Regulations. The Act established the Citizenship by Investment Board, to co-ordinate the administration and operation of the Citizenship by Investment Programme.
Citizenship : Saint Lucia
To qualify for citizenship in Saint Lucia, applicants need to fulfill one of the investment requirements:
Minimum net worth of US$ 3 million
Be of outstanding character
No criminal record
Have good health record
Completed and signed application forms accompanied with the supporting documents with the Government non-refundable processing fee and due diligence fees.
Police certificate from the applicant country of birth and from any other country in which he/she has resided for a period of one year or more during the 10 years immediately prior to the submission of the application.
Health certificate/Medical Report.
Bank reference letter.
All documents not in English language must be translated to English prior to submission.
Why Saint Lucia
Visa-free travel to more than 114 countries including EU Schengen countries, Hong Kong and United Kingdom.
Equality of citizenship with natural born citizens with the right to vote and to pass citizenship to family and children.
No residency requirements and no need to travel to St. Lucia and quick processing within 3 months.
No Educations or managerial experience required.
No taxes for non-residents.
Government Bond investment option, to be held for 5 years and refundable after 5 years without interest.
Saint Lucia recognizes dual citizenship.
Favorable international financial services sector.
Duty Free Trading in Caribbean.
Favorable tax environment with no capital gains tax, relatively low income and corporate tax, no taxation on worldwide income, no estate or inheritance tax.
Easy Travel form St. Lucia to most Cities around the globe and many non-stop flights to and from UK, US, Europe and Canada.
A qualifying investment under the Citizenship by Investment Programme shall satisfy at least minimum investment in one of the four approved areas.
1- National Economic Fund
The applicant makes a non-refundable monetary contribution to the St. Lucia National Economic Fund. The following is the minimum investment amount required.
Applicant applying alone USD 200,000.00
Applicant applying with spouse USD 235,000.00
Applicant applying with spouse and up to 2 qualifying dependents USD 250,000.00
Each additional qualifying dependent, of any age USD 25,000.00
2- Real Estate Projects
The Real Estate Project MUST be :
• High-end branded hotel or resort
• High-end boutique property
For the purposes of the CIP, a high end branded hotel or resort is defined as a hotel or resort which has:
• A minimum of 70+ rooms;
• A 4 or 5 star rating ;
• A recognized brand name with a significant international distribution network;
The applicant is required to execute a binding purchase and sales agreement for an investment in an approved real estate project. Investments, equaling the agreed purchase price, are deposited in an approved irrevocable escrow account managed jointly by the developer and the Citizenship by Investment Unit in Saint Lucia.
Once an application for citizenship by means of an investment in a real estate project has been approved, the following minimum investment is required:
• Main Applicant: US$300,000
3- Enterprise Projects
Enterprise projects fall into seven (7) categories:
1. Specialty Restaurants
2. Cruise ports and marinas
3. Agro-processing plants
4. Pharmaceutical products
5. Ports, bridges, roads and highways
6. Research institutions and facilities
7. Offshore universities
Investment in any one of the above mentioned approved enterprise projects entitles a successful applicant to citizenship.
Once an application for citizenship by means of an investment in an approved enterprise project has been approved, the following minimum investment is required:
Option 1 – A sole applicant.
• A minimum investment of US$3,500,000
Option 2 – More than one applicant (joint venture).
• A minimum investment of US$ 6,000,000 with each applicant contributing no less than US$1,000,000
4- Government Bonds
Citizenship by investment may be made through the purchase of non-interest-bearing Government bonds. These bonds must be registered and remain in the name of the applicant for a five (5) year holding period from the date of first issue and not attract a rate of interest.
Once an application for citizenship by means of an investment in government bonds has been approved, the following minimum investment is required:
Applicant applying alone: US$500,000
Applicant applying with spouse: US$535,000
Applicant applying with spouse and up to two (2) other qualifying dependents: US$550,000
Each additional qualifying dependent: US$25,000
Government Application Fees
The following fees have been prescribed under the Citizenship by Investment Regulations of 2015.
Non-refundable processing fees
Principal applicant: US $2000
Each qualifying dependent: US $1000
Non-refundable administration fees
(applicable for an approved real estate or enterprise project investment)
Principal applicant: US $50,000
Each qualifying dependent: US $35,000 (18 years of age and over)
Each qualifying dependent: US $25,000 (under 18 years of age)
Due diligence fees
Principal applicant: US $7,500
Each qualifying dependent US $5,000 (Over 16 years of age)