The Saint Lucia Government has introduced Covid-19 Relief Bonds introduced for citizenship by investment programme under a new Limited Time Offer valid only Dec 31, 2020. Only until this period the Govt bonds are available for a 50% discounted price USD 250,000 instead of USD 500k.
Saint Lucia made amendments to the Citizenship by Investment(Amendment) Regulations No. 73 of 2020 to introduce the discounted bond option. The purchase of Government bonds in accordance with the National Savings and Development Bonds Act, Cap. 15.25 in the amounts set out in paragraph 4(b) of Schedule 2, citizenship by investment may be granted.
Covid-19 bonds were introduced under citizenship programme to finance the stimulus package to counter the Covid-19 impact in Saint Lucia which was affected by decline in travel and tourism.
The Interest free Govt Bonds must be held for minimum 5 years in exchange for citizenship and with each dependent the holding period increases by one year. After the holding period the investment is fully refunded back to the investor while citizenship is permanent.
Saint Lucia is the only country in the caribbean offering citizenship by investing in Government bonds. Purchase of $250,000 worth of non-interest bearing Government bonds for five years, eligible for Saint Lucia citizenship with family (see below).
Processing time for citizenship is less than 80 days and the passport comes with visa free travel benefit to United Kingdom, Schengen Area and over 140+ countries and territories.
Covid-19 Relief Bond
- Bond Minimum – USD 250,000 (reduced from USD 500,000)
- Applicant applying alone – USD 250,000 (5 year holding bond)
- Applicant with 1 qualifying dependent – USD 250,000 (6 year holding bond)
- Applicant with up to 4 qualifying dependent – USD 250,000 (7 year holding bond)
- Applicant with up to 4 qualifying dependent – USD 300,000 (5 year holding bond)
- Each qualifying dependent along with an applicant applying with up to 4 qualifying dependents -USD 15,000
Govt Bonds Additional Fee
- Processing fee $2000 – waived
- Bond Administrative fee – USD 30,000
Note: The Govt bonds valued at USD 500,000 is not suspended will resume after 2020.
Due Diligence Fee
Applicant applying alone – USD 7,500
Each qualifying dependant (over 16 years of age) – US$5,000
Government of Saint Lucia’s Bonds are issued under the National Savings and Development Bonds Act Ch.15.25 of 2005 of the Revised Laws of Saint Lucia. You have to remember that you have to buy the bond only if your citizenship application is approved.
After the application for citizenship has been approved (takes 3 months), the applicant must make their purchase of the non-interest bearing Government bonds through the Debt and Investment Unit in the Ministry of Finance
1. What is the benefit of buying Govt bonds?
Investing in Government bonds is the cheapest route for citizenship. Government (Govt) bonds are safest and trusted investment that are fully returned back after 5 years holding period, it is guaranteed by government. You will not get any interest.
If you invest $250,000 in Govt bonds and after 5 years (or more), you get the entire investment back. This means you get free citizenship for life.
Remember you have to pay $30,000 administrative fee and also due diligence fee.Considering you get back the money, all in all you only pay less than $50,000 for citizenship for a small family.
2. Is financing option available?
3. What is the interest rate of Saint Lucia Government bonds?
Usually 6-7% in performance
4. How do i subscribe to Covid-19 relief bonds issued by Saint Lucia?
You can buy from Bank of Saint Lucia or contact us for more information. For citizenship purpose you must apply through an agent.
5. Which other countries offer Govt bonds for citizenship purpose?
As far as we we know, Turkey offers Govt bond option for USD 500,000 under citizenship by investment program. Cyprus rescinded Govt bond option in 2019.
6. What are the conditions for citizenship?
You must hold the investment for atleast 5 years depending on the holding period. You have be very careful here – if you dont maintain the investment, the citizenship of the main investor may be revoked. if that happens, so does for the family members.