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Investment programs in Saint Lucia

October 24, 2019
Blog

Saint Lucia has a quality of life that is rivalled by very few places in the world. We have a relatively low crime rate, access to modern facilities, services and infrastructure, world class restaurants and hotels and prime real estate. Residents have the options of living closer to the major population centres or closer to the more tranquil countryside to enjoy greener living. It takes just over an hour to travel from the north to the south of the island on a light traffic day, so no place is very far.

Benefits of St. Lucia Citizenship
The Citizenship By Investment Program of St. Lucia became operational in January 2016 and is regulated by the Citizenship by Investment Act No 14 passed in 2015.

– Lifetime citizenship.
– No residency requirement.
– St. Lucia allows dual citizenship.
– No taxation on worldwide income.
– Equality of citizenship with natural born citizens including right to vote and ability to pass on citizenship to family.
– No residency requirement, no need to travel to St. Lucia during application process and quick processing within 3 months.
– St. Lucia recognises dual citizenship.
– No country restrictions.
– Stable political and economic democracy.
– Favourable tax environment with no capital gains tax, relatively low income and corporate tax, no taxation on worldwide income.

Saint Lucia Citizenship by Investment programs includes 4 options:

1- Saint Lucia National Economic Fund
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.

Cost:
– USD $100,000 for a single applicant.
– USD $165,000 for the main applicant and a spouse.
– USD $190,000 for the main applicant, a spouse and two dependants.
– USD $25,000 for each additional qualifying dependant.

2- Government Bonds
Citizenship by investment may be made through the 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.

Cost:
– USD $500,000 for the main applicant.
– USD $535,000 for the main applicant and a spouse.
– USD $550,000 for the main applicant, a spouse and two dependents.
– USD $25,000 for each additional qualifying dependent.
– USD $50,000 Non-refundable administrative fees.

3- Real Estate Projects
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.

Cost:
– Main appllicant: USD 300,000.
– Applicant applying alone: USD 30,000.
– Applicant applying with spouse: USD 45,000.
– Each additional qualifying dependant (under 18 years of age): USD 5,000.
– Each additional qualifying dependant (18 years of age and over): USD 10,000.
– Applicant applying with spouse and more than four qualifying dependants: USD 10,000 (for each additional qualifying dependant of any age).

4- 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 several broad categories:

Specialty Restaurants, Cruise ports and marinas, Agro-processing plants, Pharmaceutical products, Ports, bridges, roads and highways, Research institutions and facilities and Offshore universities.

Cost:
– USD 3,500,000 for a single applicant.
– USD 6,000,000 for a joint venture, with each applicant contributing no less than USD 1,000,00.

If you want to know more about second citizenship, you can reach out Karibi team at:

WhatsApp: +971 58 500 8888
Phone: +971 (0) 4-568-7777
Email: info@karibi.com

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