The St Lucia government has announced second extension of Special covid bonds for citizenship by investment program for one more year. The Cabinet of Ministers have approved the extension to provide 50% discount
The CIP Unit will be receiving applications for Special Covid-19 Relief Bonds until Dec 31, 2022 without any interruptions. Previously the Covid bonds was set to expire on Dec 31, 2021. This is the second extension provided by the government as limited time offer with 50% discount.
The Special COVID-19 Relief Bond starting at USD 250,000 was created by Government to attract investments into Saint Lucia for the purpose of citizenship by investment. This is a non-interest-bearing government bond to which no processing fee is payable by the applicant.
- Sole applicant (five-year holding bond): US$250,000
- Applicant applying with 1 qualifying dependent (six-year holding bond): US$250,000
- Applicant applying with up to 4 qualifying dependents (seven-year holding bond): US$250,000
- Applicant applying with up to 4 qualifying dependents (five-year holding bond): US$300,000
- Each additional qualifying dependent, along with an applicant applying with up to 4 qualifying dependents: US$15,000
An administrative fee of US $30,000 is payable by the applicant once the application for citizenship has been granted. There are also due diligence fee $7,500 paid by applicants.
Applications are processed on average time of 56 days. The Special Covid relief bonds is fully refunded to applicants after 5 years of holding period. These are non-interest bearing zero coupon bonds. The interest earned will go to government for covid relief efforts.
It is worth to note that St Lucia is the only caribbean nation that offers government bonds for acquiring citizenship and passport without any personal visit.
The official announcement is available for download here
Please also refer to Bond Prospectus issued by the Government of Saint Lucia