We have put together important questions on the Saint Lucia citizenship by real estate investment program.
Does St.Lucia offer citizenship by real estate?
Yes, The Caribbean nation of Saint Lucia does offer real estate option for acquiring citizenship by investment. The minimum property investment required is $200,000 (shares in hotel) or $400,000 (full title)
Can i buy residential properties for citizenship?
Only approved projects such as hotels, resorts qualify for citizenship at the moment. If you want to buy residential property (please see alien landholding license), you can get permanent resident status, but no citizenship.
How many approved projects are available.?
At the moment only one project approved by government – Canelles Resort Saint Lucia.
When should i commit to make the i full investment?
You make the full investment, only after your application approved by government. The CIP Unit of Saint Lucia Government will issue approval letter, the investment must be made within 60 days to the developer of real estate.
Do you offer loans for buying the property?
No, we do not provide financial loans, neither banks in St.Lucia.
What are the returns with the property?
The Resort developer pays annual returns 4-5% and the property fully managed and taken care by the developer.
Is the real estate investment refundable?
Yes, The developer guarantees buyback shares after 5 years (fully refundable investment). Annual returns 4-5% is also paid by developer.
What are costs involved in buying the property?
Expect 5% share registration cost, plus notary fee, lawyer fee etc.
Can i sell the property?
Yes, you can dispose off the property or sell the shares of the property after 5 years of holding. If you sell it before, citizenship can be revoked.
What are the processing times for real estate applications?
Average 70 days.
Does adding family members incur additional costs?
Yes, family members depending their age pay additional costs to the government. The government levies administration fee, payable upon the grant of citizenship are non-refundable.
- Applicant applying alone: US$ 30,000
- Applicant applying with spouse: US$ 45,000
- Each qualifying dependent (18 years of age and over): US$ 10, 000
- Each qualifying dependent (under 18 years of age): US$ 5,000
- Applicant applying with spouse & more than four dependents: US$ 10,000
Due diligence fee: $8000 for main applicant and $5000 for spouse/adults (does not apply to children below 16 years)
What are the costs for private family home?
Private family homes with four to six bedroom villas, with sea views and luxury amenities can easily cost $800,000 to $1.2 million.
What are the property tax rates?
According to Inland revenue authority
Land – 0 for 10 acres or less.
Residential – $0.25 of open market value
Commercial – 0.4% of open market value
What is Alien Landholding license?
Foreigners (Non-nationals) and companies can hold, lease, acquire or purchase land in Saint Lucia with an Alien Landholding License. The certificate may be issued for the duration of one (1) year or ten (10) years. There is no limit to investment limit. You will receive Investor entrance permit under this license with the right to remain in St.Lucia indefinitely. Note that this scheme does not grant citizenship of St.Lucia. You can apply through a lawyer to get this license.
Please contact us for more information.