Saint Lucia, located north of Trinidad and Tobago, is a Caribbean Island. Since 1979, the country has been an independent state and a member of the Commonwealth Realm.
Saint Lucia offers the Caribbean’s newest and, perhaps, best-positioned citizenship by investment program. Saint Lucia is a vibrant, discerning, and attractive country that provides all of the tropical delights of the region while staying unique, authentic, and engaging.
The Saint Lucia citizenship by investment program was established in 2016 to encourage and attract foreign direct investment to the island.
Saint Lucia citizenship program provides a one-of-a-kind opportunity to invest in government assets and is popular among applicants seeking a low-risk investment in a government-owned asset. An investor may also qualify for citizenship by donating to a government fund or making a real estate investment.
Facts
- St Lucia has a population of approximately 182,000.
- Castries is the capital of Saint Lucia.
- The official language spoken in Saint Lucia is English apart from this some of the most commonly spoken languages on the island are French and Patois.
- The life expectancy for the population of St Lucia is an average of 72 years.
- The literacy rate of the population of Saint Lucia is estimated at 90%.
Economy
- The economy of Saint Lucia is mostly based on tourism and offshore banking services.
- The country exports bananas, mangoes, and avocados.
- Tourism accounts for 50% of Saint Lucia’s GDP.
- Saint Lucia’s official currency is the Eastern Caribbean dollar, which is linked to the US dollar.
- Dual citizenship is recognised in Saint Lucia, which may be advantageous for business development and tax saving.
Other benefits include the following:
- Duration of processing takes three months.
- Dependent children under the age of 30 can be included.
- Dependant siblings of the main applicant who are under the age of 18 can be included.
- Dependent children or parents who are intellectually or physically challenged can be included.
- Inclusion of dependent parents over the age of 55 who live with the applicant.
- The applicant does not require any physical residence.
- There is no obligation to go to Saint Lucia as part of the application procedure.
- There is no need for an interview, education, or managerial experience.
- Visa-free travel to over 140 countries, including the Schengen Zone, the United Kingdom, and Hong Kong.
- No taxation on income from overseas.
The applicants can select one of the investment options listed below:
- Contribution to a government fund
- Real estate investment
- Investing in government bonds
- Investing in a business initiative that has been approved
The eligibility requirements for Saint Lucia citizenship
The Citizenship-by-Investment Act No. 14 of 2015 governs the Saint Lucia citizenship by investment program. Section 33 of this legislation created the Saint Lucia National Economic Fund (NEF), which collects qualified investments of donations from the program. The government will spend these monies in accordance with the national development plan.
Some of the additional criteria are as follows:
- You must be at least 18 years old.
- Make the necessary payments toward your selected investment.
- Pass a thorough background check, as well as any qualified dependents over the age of 18.
- Provide complete and fair disclosure on all aspects of the application.
- Pay the required processing, due diligence, and administrative fees at the time of application.
- It is necessary that the applicant must not have any records of a rejected visa from a country with which Saint Lucia has a visa-free travel agreement. All visa denials must be reported.
The eligibility requirements of dependents for Saint Lucia citizenship
- The primary applicant’s spouse.
- The primary applicant’s or spouse’s children under the age of 18.
- Children aged 18 to 30 who are completely supported by the primary applicant.
- A physically or intellectually handicapped kid of the primary applicant or spouse. The primary applicant must completely support the dependant.
- Parents or grandparents of the main applicant and spouse over the age of 55 living with and completely supported by the primary applicant.
- A parent of any age who is physically or intellectually challenged and completely supported by the primary applicant.
All qualified dependents must have a clean personal history, including no criminal records, and must not be the subject of a criminal investigation (other than in respect of a minor offense). Citizenship will not be granted to anybody who is regarded as a possible security risk or who is or has been involved in any action that is likely to bring St. Lucia into shame.
Procedures and time period for the Citizenship-by-Investment Program in St. Lucia
If there are no issues with your Saint Lucia citizenship application, the entire procedure should take no more than three months from the time it is submitted to the time the certificate of citizenship is issued.
A citizenship application will be considered by the Citizenship-by-Investment Board, which oversees a specialised citizenship-by-investment unit (CIU), and the decision will be either grant, reject, or postpone for a cause.
Before an application may be considered by the CIU, it must include all required supporting papers. For the primary applicant, their spouse, and any eligible dependent. All applications must be accompanied by the appropriate non-refundable processing and due diligence fees.