The Government of Saint Lucia has announced important changes to its Citizenship by Investment program (“CIP”), to attract more foreign investors and investment during the Covid-19 pandemic. Saint Lucia offers one of the most attractive CIP in the Caribbean with most applications processed within a quick time frame of average 80 days or even less. The New Citizenship-by-Investment Regulations No 73 of 2020 came effective from May 12, 2020 with the following changes:
1. COVID-19 GOVERNMENT BONDS
New Covid-19 Bonds are introduced for its Citizenship-by-Investment programme. The Bonds must be held for a minimum of 5 years and with each dependent the holding period increases by one year, see below. After the holding period the investment is fully refunded back to the investor while citizenship is permanent.
LIMITED TIME OFFER UNTIL DEC 31, 2020!
- Bond Minimum – USD 250,000 (reduced from USD 500,000)
- Applicant applying alone – USD 250,000 (5 year holding bond)
- Applicant with 1 qualifying dependent – USD 250,000 (6 year holding bond)
- Either Applicant with up to 4 qualifying dependent – USD 250,000 (7 year holding bond)
- or Applicant with up to 4 qualifying dependent – USD 300,000 (5 year holding bond)
Each qualifying dependent along with an applicant applying with up to 4 qualifying dependents -USD 15,000
Processing fee $2,000 – waived Administrative fee – USD 30,000
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.
After a strict due diligence and upon the 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.
2. NATIONAL ECONOMIC FUND
The contribution requirements have been reduced for families!
- Single – USD 100,000
- Applicant with Spouse – USD 140,000
- Each additional qualifying dependent – USD 25,000
- Applicant applying with spouse and up to 2 other qualifying dependents – USD 150,000
- Each additional qualifying dependent of a family of four – USD 15,000
ADD ON DEPENDENTS
- New born child of a citizen who is 12 months of age or below – USD 500
- Spouse of a citizen – USD 35,000
- Qualifying Dependant (QD) – USD 25,000
CERTIFICATE OF REGISTRATION REPLACEMENT FEE
A replacement fee for a lost Certificate of Registration shall be payable in the sum of USD 100.
3. REAL ESTATE
The minimum investment required for citizenship is USD 300,000 in two approved development projects
- Alpina Saint Lucia Hotel
- Canelles Resort
WAIVER OF THE NON-REFUNDABLE ADMINISTRATIVE FEE FOR REAL ESTATE PROJECTS
The Board shall have the discretion to waive the administrative fee for the main applicant and their dependent child/children less than 18 years of age; if the qualifying dependent(s) submits to the Board a letter of acceptance from an educational institution that is established or is to be established within an approved real estate project.
Please contact us for more information! Thank you.