St Lucia is a beautifully lush tropical island nation situated in the Caribbean.It’s famous for its warm year-round sunshine, laid back atmosphere and thriving economy.Despite having gained independence from the UK in February 1979, Queen Elizabeth II still remains the country’s Head of State.
St Lucia is part of the UK (United Nations), Commonwealth, the CARICOM (the Caribbean Community), the International Organisation of La Francophonie, the OECS (Organisation of Eastern Caribbean States)and the OAS (Organisation of American States). The country’s economy is heavily based around banking and tourism, as well as being a big international exporter of bananas, malt beer and oil. The island is also had a proud musical culture, hosting events such as the annual St Lucia Jazz Festival.
Where is St Lucia located?
St Lucia can be found just south of Martiniqueand north of St Vincent and the Grenadines in the Caribbean sea. Its capital, Castries, has an international airport with direct flights from a large number of cities across the USA, Canada and the UK. There are also plenty of island hopper connections from St Lucia to neighbouring Caribbean enclaves.
Citizenship by Investment
St Lucia was the last country in the Caribbean to create a citizenship by investment program which launched in January 2016.
The scheme allows investors and their families to gain citizenship to St Lucia by investing in the country. Successful applicants are able to travel without a visa to over 120 countries across the world, including the UK, EU, Singapore and Argentina.
In order to be eligible for citizenship by investment in St Lucia, individuals must meet some basic criteria from the outset. They must be:
• 18 years or older
• Of good character
• In good health
• Able to pass a detailed background check
• Free of any criminal record
• Able to provide a banker’s reference
Note: Investors may apply with their families which include a spouse and any dependent children. In certain cases, they may also submit an application with dependent elderly relatives such as parents or grandparents.
• Full citizenship status including travel visa-free to over 120 countries. These includeNorth and South America, Argentina, the UK,the EU, Africa, Asia and Oceania.
• Dual citizenship
• Open to all nationalities
• No necessity to visit St Lucia at any point over the application process
• No need for an interview
• No requirement to speak English
• Fast processing time
• Low processing fees
• Political, social and economic stability
• No capital gains tax, foreign income tax, inheritance tax or gift tax
How can someone invest in St Lucia?
Citizenship by investment can be achieved by investors and their families in one of four ways:
• By making a one-off payment to the NEF (National Economic Fund)
• By investing in a pre-approved enterprise project
• By purchasing pre-approved real estate
• By purchasing Government bonds
National Economic Fund
The purpose of the National Economic Fund (NEF) is to generate funds which are used in supporting St Lucia’s economy.
If this is the option an applicant chooses, the minimum payment required will be US$100,000.
Investing in Pre-approved Real Estate
Applicants choosing the pursue citizenship by investing in property by buy and maintain ownership of that property for a minimum of5 years. The real estate value must be at least US$300,000.
Investing in a Pre-approved Enterprise Project
St Lucia is slightly different to other Caribbean nations in that it gives investors the chance to invest in a pre-approved enterprise project. If an applicant wishes to invest as an individual, it is essential that they invest at least US$3,500,000whilst creating at least 3 full time jobs in the process. However, if an applicant wishes to make a joint application with one or more other applicants, they will need to invest a minimum of US$1,000,000. The investment as a whole must amount to at least US$6,000,000 and generate at least 6 permanent job roles.
Purchasing Government Bonds
St Lucia is the only country in the Caribbean that gives the option to buy Government bonds at no interest. Essentially, these bonds must be retained for at least 5 years, and applicants must invest a minimum of US$500,000.