St Lucia Citizenship by Investment

National Fund
Donation
$100K
One time contribution to Government national fund
Property
Real Estate
$300K
Approved Property investment in St Lucia
Government Bills
Govt Bonds
$500K
Non-interest bearing Government bonds and treasury securities fully refunded back after five years.
Capital investment
Business Enterprise
$35M
Enterprise Investment  in Businesses and companies

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 launched brand new citizenship by investment (CBI) program  in the Caribbean in 2015. The  Citizenship-by-Investment Act No 14 of 2015 laid foundations for acquisition of citizenship in Saint Lucia by means of qualifying investment.

It is the only CIP in the Caribbean that offers citizenship against buying non-interest bearing Government bonds. Further, it is also cheapest CBI scheme for individuals and single persons.

Why Saint Lucia?

  • Beautiful country with mountains and beaches
  • Stable economic and political climate
  • Major caribbean tourist destination with 1.2m visitor arrivals
  •  low crime rate, access to modern facilities, services and infrastructure,
  • Prime hotels and prime real estate market
  • Powerful Caribbean passport
  • Ease of doing business with offshore company incorporations

Benefits

  • 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.

Qualifying Investments

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.

New Changes 2019

Saint Lucia made important changes to the Citizenship by investment legislation in 2019

  • Processing time is very fast 80 days or even less decisions are made.
  • Saint Lucia has cut real estate fees to $30,000 (from $50K) by amending Citizenship by Investment (Amendment) Regulations 2019.
  • Escrow legislation introduced for  real estate developers, if an escrow account cannot be established in Saint Lucia, the establishment of an escrow account by a registered and regulated bank outside Saint Lucia.
  • Family members (child, spouse) can be added later post granting citizenship within five years.
  • Approved applicants must make full investment must make investment within 90 days (increased from 60 days)

Processing time

The processing time is about 2-3 months.

1. Economic Fund Donation

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

2. Government Bonds

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

Applicants must:

  • Satisfy a minimum qualifying investment for the purchase of non-interest bearing Government bonds.
    • 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.Keep Government bonds which have been purchased as a qualifying investment for a five year holding period.
    • 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.

3. Real Estate

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:

  1. High-end branded hotels and resorts
  2. 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:

4. Approved Real Estate

Saint Lucia has approved one real estate project as of now eligible for CIP

Canelles Resort

The Saint Lucia Canelles Resort is a luxury resort developed by the Galaxy Group, managed by AMResorts, a subsidiary of Apple Leisure Group.  This Resort has two brands, Dreams and Zoetry, plus Canelles Oceanfront Apartments, which offer a high level of luxury for couples on the beachfront.

The applicant is required to execute a binding purchase and sales agreement for an investment of a minimum US $ 300,000 in the already Government Approved Canelles Resort Saint Lucia Real Estate Project.

5. 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:

  1.  Specialty Restaurants
  2.  Cruise ports and marinas
  3.  Agro-processing plants
  4.  Pharmaceutical products
  5.  Ports, bridges, roads and highways
  6.  Research institutions and facilities
  7.  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 145 countries (EU schengen, UK, Ireland etc) in 2018 according to Henley Passport Index.

How do i start?

  • Ask us for free quote for family
  • Pay initial deposit $10,000 to Authorized agent
  • Wait for CIP approval (takes 2 months)
  •  Pay the full investment to Government
  • Collect your citizenship certificate and passports

FAQs

These are the most popular questions we have compiled related to St Lucia citizenship by investment scheme

Which is the most popular route for citizenship?

Donation route is the most popular route.

Do i need to visit St Lucia to receive passport?

No, your authorized agent will deliver passports to you.

Does Saint Lucia has any physical residence requirements?

None. You are not required to visit Saint Lucia.

How many years St Lucia passport is valid for?

5 years

How fast is the processing time?

80 days or less

Who are qualifying dependants?

You can add the following dependants simultaneously with the application.

  • a spouse of the applicant;
  • a child of the applicant or of his or her spouse who is less than eighteen years of age;
  • a child of the applicant or of his or her spouse who is no more than twenty five years of age, who is fully supported by the applicant and is in full time attendance at a recognised institution of higher learning;
  • a child of the applicant or his or her spouse, of any age, who is physically or mentally challenged and fully supported by the applicant;
  • a parent of the applicant or of his or her spouse above the age of sixty five years who habitually lives with and is fully supported by the applicant;
  • a parent of any age who is physically or mentally challenged and fully supported by the applicant

Who cannot apply for St Lucia passport scheme?

Nationals from Iran, North Korea, Somalia cannot apply for St Lucia CBI scheme. In 2018, St Lucia Citizenship Unit announced, they will not process applications from Iran, due to sanctions and due diligence providers unable to vet iranians.

Is Government bond option the cheapest?

Yes, it is the cheapest route compared to donation. Here is why!

You buy Government issued bonds (zero interest) for USD 500,000 locked for 5 years + Pay $50,000 + $7500 (due diligence) + $2000 (application fee), totalling  $559,500. .

You get the full $500,000 returned by Government with no interest after 5 years, and at the end of the day you only paid $59,500 for the passport, assuming you are single person. This is even cheaper than the donation option, where you would have paid $109,500 as donation. This money is not returned in exchange for the passport

Yes possible, but financing option for bonds not available. Remember you have to pay $50,000 additional fee for subscribing Government bonds.

Does St Lucia report the names of new citizens to foreign countries?

No, the names of CBI citizens is not reported to other countries or published in official gazette.  However St lucia will publish names of people who have been revoked of citizenship under CBI scheme.

Can i vote in elections?

Yes, new citizens who acquired citizenship under CIP, can vote in Saint Lucia elections and also can hold Government jobs.

Under what cases citizenship applications can be refused?

The Saint Lucia Citizenship by Investment Unit (CIU) may refuse applications under the following cases

  •  Provides false or concealment of information in the application
  • has been convicted of a criminal offence except where the offence is a minor traffic offence;
  • subject of a criminal investigation;
  • considered to be a potential national security risk; 281 No. 14 ] Citizenship by Investment Act [ 2015
  • involved in any activity likely to cause disrepute to Saint Lucia;
  • has been denied a visa to a country with which Saint Lucia has visa-free travel and has not subsequently obtained a visa to that country

Has Saint Lucia stripped citizenship in the past?

Yes, some 6 persons have been revoked of citizenship acquired under citizenship by investment scheme.

How to i get permanent residence card?

This is an additional procedure. Once you have received your passport, buy a property or  rent a housing or place to live, you will receive your permanent residence card from immigration office. You also have to notify change in address in passport to your home in St Lucia

What if my application is refused?

You can make an appeal on the decision. Depending on the reason given for refusal, you can reapply. The authorized agent licensed by Citizenship Investment Unit will advise you accordingly.