Citizenship By Investment Program in St. Lucia
The island of St Lucia in the Eastern Caribbean is a beautiful and tempting place in which to acquire a second citizenship. Not only is it attractive – mostly covered in rainforest and home to its famous twin peaks, the Pitons – it also has sophisticated links with the rest of the world, being a member of the British Commonwealth and CARICOM (the collective organisation representing the Caribbean communities), with excellent travel connections to North America and Europe. These factors, coupled with its position as the world’s least expensive country in which to achieve citizenship by investment, make St Lucia a very popular choice.
Astons’ team of international specialists are on hand to give you expert advice on all aspects of citizenship in St Lucia and worldwide.
Benefits of St Lucia Citizenship By Investment
- Speedy application process – usually three to four months
- Visa-free travel to more than 157 countries worldwide, including Hong Kong, Singapore, the UK and the countries of the European Schengen Agreement
- Beneficial tax arrangements whereby the citizen by investment will not be liable for any tax on income earned overseas, or for capital gains tax or inheritance tax.
- They will need to pay tax on income earned in St Lucia Corporate tax is zero in some cases and only 1% in many others. VAT is 15%, with a reduced rate of 8% paid by hotels.
- No residency or minimum stay requirements.
- St Lucia allows dual citizenship with all countries.
- A relatively short (five years) investment commitment.
- Entire family are eligible
Citizenship By Investment Program
St Lucia’s programme requires a minimum investment of $100,00. The applicant has a variety of options for their investment:
- A donation of at least $100,000 (for a single applicant) to the government’s National Economic Fund, which supports government sponsored projects. Currently, but for a limited time only, the donation for a couple would be $140,000 (usually $165,000), while a family of four would need to donate $150,000 (usually $190,000). Any additional applicant over a family of four people, would currently, for a limited time, pay $15,000 (usually $25,000). Couples must be legally married to apply as a couple or family group.
- A donation of a minimum of $250,00 to government bonds
- An investment of at least $3.5 million into to an approved enterprise such as agro-processing plants; ports, bridges, roads, research institutions and others
- An investment into a government-approved real estate development (usually a high-end branded hotel, resort or boutique property) with a value of at least $300,000. This investment would need to be kept for a minimum of five years, after which it may be sold.
- St Lucia Covid-19 Relief Bond The government of St Lucia launched a temporary bond in May 2020 which offered investors the opportunity to deposit into a refundable government bond. For a single applicant the minimum requirement is $250,000 while for a family this increased to $300,000. The bond must be kept for five years, after which the investor can claim their capital back. However, this scheme is about to end in December 2022.
It should be noted that due diligence and processing fees apply in addition to the investment amounts.
Is There A Residency Requirement?
There is no requirement for residency in St Lucia and the entire application process can take place remotely. There are no requirements for a minimum stay in the country.
Is There A Language Test?
There is no requirement to take a language test in order to qualify for citizenship of St Lucia.
Can Families Be Included?
The applicant’s spouse, children up to 21 years of age, dependent children up to 30 years of age, children or parents with mental or physical disabilities, and parents and grandparents over 55 years old can all be included in the citizenship application, as can siblings of the main applicant provided they are under 18 and have consent from their parent or guardian.
How Long Does The Citizenship Application Process Take?
The application process for citizenship in St Lucia takes approximately three to four months.
With fast processing times and a variety of investment options offering the cheapest way to achieve citizenship by investment, St Lucia presents an attractive opportunity for the investor.
Source: Citizenship By Investment Program in St. Lucia – Astons news