Effective from Jan 1, 2023, The CIP Saint Lucia Unit will be extending CIP government bonds. A new type of bond “National Action Bond” investment will be introduced replacing covid relief bonds
The St.Lucia Government has announced that the deadline for covid bond applications for citizenship will not be extended past the cutoff date Dec 31, 2022. The CIP Unit of the Government has been issuing covid bonds with 50% special discount for US$ 250,000 under the citizenship by investment program. The last applications will be received Dec 31 of 2022. After this date the minimum bond investment will revert to US$ 500,000. We expect a last minute rush of applications.
The Government of St.Lucia launched the limited time special CIP bond scheme in May 2020 to raise investment financing the Covid crisis and has already extended the deadline twice extending for two more years. St.Lucia is the only country that offers government bonds under the CBI programme. The Government guarantees payback of the interest free bond sum to citizenship investors after a period of 6-7 years.
The CIP St.Lucia program has been ranked as No.1 citizenship by investment program for 2021 in the Best Citizenship rankings. The Key benefit of investing in bonds, is a fully refundable investment.
The Special COVID-19 Relief Bond starting at US $250,000 is a non-interest-bearing government bond to which no processing fee is payable by the applicant. The bond must be registered and remain in the name of the applicant from the date of first issue. An administrative fee of US $30,000 is payable by the applicant once the application for citizenship has been granted.
Applicant Alone (5-year holding bond):
Applicant applying with 1 qualifying dependent (6-year holding bond):
Applicant applying with up to 4 qualifying dependents (7-year holding bond):
Applicant applying with up to 4 qualifying dependents (5-year holding bond):
Each additional qualifying dependent, along with an applicant applying with up to 4 qualifying dependents:
CIP Covid Relief Bonds
The Government of Saint Lucia will issue 5-yr/6-yr/7-yr zero-coupon Government Bonds to prospective investors/applicants under the Citizenship by Investment Program (CIP). The Government of Saint Lucia shall be the registrar and paying agent for the securities. The amount of the investment will depend on the whether the investor is applying alone, with a spouse or otherwise as offered under the CIP. The bond will be issued under the authority of the National Savings Development Bonds Act (Amendment) Section 3, Cap. 15.25, and by a resolution of Parliament No. 110 of July 6th 2020, which authorized the Minister for Finance to borrow monies for public uses of the state by the issue of securities.
- Size of Issues: 250,000 and 300,000 United States Dollars The minimum sums for participation is USD 250,000 and USD 300,000 for a family up to five (5) persons including the primary applicant and USD 15,000 for each additional qualifying dependent above the family of five (5).
- Interest Rate: Zero Interest Tenor: 5 years, 6 years and 7 years
- Issue Dates: 12th May, 2020 pursuant to the Citizenship by Investment (Amendment) Regulations No. 73 of 2020
- Maturity Dates: 2025 (5 -year bond), 2026 (6 -year bond), 2027 (7 -year bond) The specific date in the year will be determined by the date which the investor purchased the Bond in accordance with their Bond Certificate issue date
- Principal Payment: The Principal will be repaid at maturity in, 2025 (5-year bond), 2026 (6-year bond) or 2027 (7-year bond) The Government of Saint Lucia is registrar and paying agent for the securities
- Prospectus: The Government has published bond prospects
Please contact us for more information.