Corona bonds are national debt issued by St Lucia due to pandemic. The Government of St Lucia introduced a limited time COVID Relief Bond starting at USD 250,000 for families for Citizenship by investment which are available for purchase until Dec 31, 2021
These are a non-interest-bearing government bonds, which means you wont get the interest (goes to government). Put simply you loan your money to government, in exchange you become a citizen.
The Biggest advantage for families investing in Covid bonds are:
- No processing fee is payable by the applicant.
- Fully refunded after 5 or more years
- No application fee.
- Flexibility for you to decide lockout or holding period
There is an important distinction between NDF and corona bond option. The NDF is non-refundable while the Covid bond is refundable fully. Another difference is, with the NDF donation option, the more you add family members the contribution costs rises significantly. With bonds, the investment remains constant and fixed.
Corona Bond Investment for Families
- Single Applicant – US$250,000 (5 years holding)
- Applicant with Spouse USD 250,000 (6 years holding) (legally married)
- Family with up to 4 qualifying dependents (7 holding bond): USD 250,000
There is also a possibility to increase the bond investment and reduce the holding period.
Let us assume a family with 2 children applies for CIP bonds and here are the total costs. We will show you a comparison
The bond certificate must be issued in the name of main applicant.
Corona Bond – $250,000 (7 years)
Due diligence – $12,500 (main applicant and spouse)
Govt processing fee – $30,000
Lawyer fee: $7500 (approx)
Since the bond sum refunded by government after 7 years, the net costs you pay for citizenship is $50,000. That is the cost of citizenship per person is only $12,500.
2. NDF option
NDF contribution – $150,000
Due diligence – $12,500
Application fee – $4000
Lawyer fee – $7500 (approx)
Total – $174,000 (non refundable)
In this case, the cost of citizenship per person $43,500
Please use our calculator for comparisons
It is also important to understand that due to ongoing pandemic, there is no residence requirement and no trips or travel to St Lucia to apply for citizenship. The passport can be collected at nearest consulates of St Lucia in your country.
The total processing time from applying to receiving passport takes 3-4 months. We tell prospective investors to start the process 6 months in advance. You also need to arrange proper certification of required documents.
The St Lucia CIP is open to all country nationals except Iran.
The CIP Unit will continue receiving applications for the Special COVID-19 Relief Bond in 2021.