St lucia is an eastern caribbean nation located on the south east coast of North America. The country recently enacted provisions in citizenship law starting from 2016, granting immediate citizenship to foreign investors who invest in real estate, business investment in the country.
Saint Lucia is the only CIP in the Caribbean that offers citizenship against buying non-interest bearing Government bonds.
- Newly launched citizenship by investment program in the Caribbean
- Visa travel to visit over 120 countries including UK, EU Schengen states
- Fast processing within 3 months
- Lifetime citizenship for family and children
- Profitable real estate investment
- No physical residence requirements
- Government bond option.
St Lucia offers citizenship only to selective individuals. The following investments qualify for immediate passport, under the St Lucia citizenship program:
- One time donation to National Economic Fund ($100,000)
- Real estate Investment ($300,000 in hotels, resorts, boutiques)
- Government bonds ($500,000) with 5 year holding period
- Direct business investment ($3,500,000) on enterprise projects.
In addition to the investment amount, additional fees are involved such as Government fee, due diligence fee, application fee, processing fee etc.
The processing time is about 3 months.
Saint Lucia National Economic Fund is a special fund established under Section 33 of the Citizenship by Investment Act for the sole purpose of receiving qualifying investments of cash for funding government sponsored projects.
The Minister for Finance is required each financial year to gain approval from Parliament for allocation of funds for specified purposes.
Once an application for citizenship by means of an investment in the Saint Lucia National Economic Fund has been approved, the following minimum investment is required:
- Applicant applying alone: US$100,000
- Applicant applying with spouse: US$165,000
- Applicant applying with spouse and up to two (2) other qualifying dependants: US$190,000
- Each additional qualifying dependant, of any age: US$25,000
|Processing fees (non-refundable
Principal applicant: US$ 2000
Each qualifying dependant:US$ 1000
|Administration fees (non-refundable)
(for an approved real estate or enterprise project investment)
Principal applicant:US$ 50,000
Each qualifying dependant:US$ 35,000
Each qualifying dependant under 18 years: US$ 25,000
|Due diligence fees (non refundable)
Principal applicant: US$ 7,500
Each qualifying dependant over 16 years: US$ 5,000
St Lucia’s Citizenship by investment program has option to purchase of non-interest-bearing Government bonds. These bonds must be registered and remain in the name of the applicant for a five (5) year holding period from the date of first issue and not attract a rate of interest.
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.
Once an application for citizenship by means of an investment in government bonds has been approved, the following minimum investment is required:
- Applicant applying alone: US$500,000
- Applicant applying with spouse: US$535,000
- Applicant applying with spouse and up to two (2) other qualifying dependants: US$550,000
- Each additional qualifying dependant: US$25,000
- Satisfy a minimum qualifying investment for the purchase of non-interest bearing Government bonds.
- Keep Government bonds which have been purchased as a qualifying investment for a five year holding period.
- 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.
- Once an application for citizenship has been approved, the applicant must make their purchase of the non-interest bearing Government bonds through the Debt and Investment Unit in the Ministry of Finance
- Once the transaction is complete, the applicant would be provided with a Bond Certificate within 21 calendar days.
- A certified copy of the Bond Certificate must be submitted to the Unit as proof of having made the qualifying investment.
- Upon receipt of the Bond Certificate, the Unit shall process the issuance of a Citizenship Certificate.
The Cabinet of Ministers will consider real estate projects to be included on the approved list for the Citizenship by Investment Programme. The Government will consider citizenship for minimum investment in real estate projects starting from USD 300,000 or more
Approved real estate projects fall into two broad categories:
- High-end branded hotels and resorts
- High-end boutique properties
Once approved, the real estate project becomes available for qualifying investments from applicants for citizenship by investment.
The applicant is required to execute a binding purchase and sales agreement for an investment in an approved real estate project. Investments, equalling the agreed purchase price, are deposited in an approved irrevocable escrow account managed jointly by the developer and the Citizenship by Investment Unit in Saint Lucia.
Once an application for citizenship by means of an investment in a real estate project has been approved, the following minimum investment is required:
Located in the picturesque village of Choiseul, in the southern-west part of Saint Lucia, it is at a close proximity to the International Airport and a range of tourist sites and activities.
The extraordinary luxury resort is expected to be completed in 2021 and compromises of 93 rooms which will be located in the main building, 43 bungalows of 1 and 2 bedrooms and 40villas of up to 4 bedrooms. The resort will also be inclusive of other amenities such as spa and fitness centers, a marina for 30 boats, private helipad, underground parking with 100 spaces, 4 bars, 3 restaurants and in the heart of the complex guests and visitors will find a preserved mangrove forest.
Fairmont hotel is an approved real estate development under citizenship by investment program. The applicant is required to execute a binding purchase and sales agreement for an investment of a minimum US $ 300,000 in shares in the already Government Approved Fairmont Saint Lucia Real Estate Project.
Business Enterprise Projects
The Cabinet of Ministers will consider enterprise projects to be included on the approved list for the Citizenship by Investment Programme.
Approved enterprise projects fall into seven (7) broad categories:
- Specialty Restaurants
- Cruise ports and marinas
- Agro-processing plants
- Pharmaceutical products
- Ports, bridges, roads and highways
- Research institutions and facilities
- Offshore universities
Once approved the enterprise project becomes available for qualifying investments from applicants for citizenship by investment.
Once an application for citizenship by means of an investment in an approved enterprise project has been approved, the following minimum investment is required:
Option 1 – A sole applicant.
- A minimum investment of US$3,500,000
Option 2 – More than one applicant (joint venture).
- A minimum investment of US$ 6,000,000 with each applicant contributing no less than US$1,000,000
The Government has not approved any enterprise projects under CIP as of today.
Visa free travel
St Lucia passport is ranked 31th best passport in the world, having visa free travel access to 146 countries (EU schengen, UK, Ireland etc) in 2018 according to Henley Passport Index.