Citizenship by Investment: Saint Lucia

(Source: Citizenship by Investment Saint Lucia)

 

 

ABOUT SAINT LUCIA

Saint Lucia has a quality of life that is rivaled by very few places in the world. It has 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.

Climate

Saint Lucia enjoys average temperatures of between 77°F (25°C) and 80°F (27°C) in a year round tropical climate balanced by northeast trade winds. Most rainfall lasts for only a few minutes at a time except if there is a known weather pattern at play.

Unique Features

The Pitons are two volcanic mountains our very own World Heritage Site in St. Lucia, linked by a ridge called Piton Mitan. The two Piton Mountains are perhaps the most photographed feature on the island. The larger of these two mountains is called the Gros Piton and the other is called Petit Piton.

The famous Sulphur Springs is the hottest and most active geothermal area in the Lesser Antilles. The park is approximately 45 hectares and is billed as the Caribbean’s only drive-in volcano. There are man-made hot pools where locals and visitors alike frequent for the healing properties of the mineral-rich water.

Saint Lucia has the distinction of having the highest number of Nobel Laureates per capita in the world. Derek Walcott won the Nobel Prize in Literature in 1992 and Sir Arthur Lewis won the Nobel Prize in Economics in 1979. The two winners share the same birthday of January 23, only 15 years apart.

Sports

The most popular played sports on island are cricket, football (soccer) tennis, volleyball, and swimming. Our most renowned athletes are Daren Garvin Sammy, Captain of the West Indies Twenty20 Team; Lavern Spencer, high jump and Dominic Johnson, pole vault.

Economy

Four investment platforms provide better opportunities with our good-for-business economy. Tourism accounts for approximately 65% of GDP and has been established as the highest foreign exchange earner.
The second leading industry in Saint Lucia is agriculture.

Saint Lucia implemented a 15% Value Added Tax in 2017, making it the last country in the Eastern Caribbean to do so. In February 2017 Saint Lucia decreased Value Added Tax to 12.5%.

Ease of Doing Business

Saint Lucia currently ranks 77th out of 183 economies in the Doing Business Report published by the World Bank. This ranking makes us 8th overall in Latin America and the Caribbean and 2nd in the Caribbean Region.

We have done consistently well from 2006 when Saint Lucia was first included in the Doing Business Report and by all accounts, we expect to continue to rank well in the coming years.

 

OVERVIEW

Saint Lucia's Citizenship by Investment Programme allows individuals and their families to obtain citizenship or permanent residence. Applicants must apply through licensed agents, and may not make submissions to the Government on their own behalf.

 

LEGAL FRAMEWORK

Saint Lucia’s Economic Citizenship Programme is governed by the following:

• Citizenship by Investment Act No: 14 of 2015 (the Act);
• Citizenship by Investment Regulations, No: 89 of 2015 (as amended) (the Regulations);
• Guidelines published by the Unit (the Guidelines).

The Act provides for the establishment of the programme under which a person can apply for citizenship of Saint Lucia upon satisfaction of the requisite qualifying investment and other requirements under the Act and the Regulations. The Act established the Citizenship by Investment Board (the Board), to co-ordinate the administration and operation of the Citizenship by Investment Programme (the Programme).

The Act also established the Citizenship by Investment Unit (the Unit) to be responsible for the general administration of the Programme which includes the processing of all applications under the Programme.

 

GENERAL BENEFITS

Why Choose Saint Lucia's Citizenship by Investment Programme...

The Caribbean Island of Saint Lucia, situated next to Barbados and Martinique now offers the most attractive Citizenship by Investment Program in the Caribbean.

Individuals who choose to apply for citizenship under Saint Lucia's Citizenship by Investment Programme may take advantage of the following:

• A Saint Lucian passport provides visa-free travel to more than 144 countries.
• No educational or managerial experience required.
• Fast application processing - Passports are issued within 3 months
• No taxes for non-residents.
• No requirements to travel to Saint Lucia during the application process.
• No physical residency requirements - The applicant is not required to live on the island
• Saint Lucia recognizes dual citizenship so you can retain your current nationality - No Nationalities excluded
• Saint Lucia is a member of the Commonwealth, which entitles citizens to certain privileges in the United Kingdom and other Commonwealth countries.
• Saint Lucia is an attractive place to live and own a second home, with excellent air /travel connections to North America, Canada and Europe.
• Reasonable minimum investment level requirements.
• No minimum net worth requirement
• Reasonable processing and administration fees
  

 

SAINT LUCIA CITIZENSHIP BENEFITS

 

Mobility

In 2015, Saint Lucian citizens had visa-free or visa on arrival access to over 144 countries and territories, ranking the ordinary Saint Lucian passport 35th in the world according to the Visa Restrictions Index.

Saint Lucian citizens can enjoy access to many countries including those in the European Union, the United Kingdom, other parts of the Caribbean and South America, the Schengen States, Hong Kong, Singapore and many others.

 

APPLICATION PROCESS

An Applicant is defined as a person who -

is at least 18 Years of age; and

meets the application requirements
may apply to be registered as a citizen of Saint Lucia.

Any person who is a qualifying dependant of an applicant may apply along with that applicant as a dependant applicant...

A Qualifying Dependant is defined as a person who –

• is a spouse of an applicant;
• is a child of the applicant or of his or her spouse who is less than 18 years of age;
• is a child of the applicant or of his or her spouse who is no more than 25 years of age, who is fully supported by the applicant and is in full time attendance at a recognised institution of higher learning;
• is 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;
• is a parent of the applicant or of his or her spouse above the age of 65 years who habitually resides with and is fully supported by the applicant;
• is a parent of any age who is physically or mentally challenged and fully supported by the applicant.

All Main Applicants will now be subjected to an interview prior to approval in principle. Dependents 16 years of age and over MAY also have to undertake an interview, if the Technical Committee deems it necessary or advisable.

Applications can only be submitted by an authorised agent and must be in the prescribed form, and must be accompanied by:-

• all requisite documentation and information;
• a non-refundable Government processing fee;
• a health certificate by a medical practitioner with respect to each applicant and dependant;
• a police certificate from the applicant’s country of residence;
• a banker’s reference;
• the details and evidence of the proposed qualifying investment;
• authenticated English translation where applicable;
• a sworn affidavit of support of each dependant;
• official transcripts or written confirmation from a recognised school, university or college of the dependant’s enrolment and attendance at such school, university or college at the time of the application, where applicable.

 

Disqualified Persons

A disqualified applicant is defined as any person who –

• provides false information;
• has been convicted of a criminal offence except where the offence is a minor traffic offence;
• is the subject of a criminal investigation;
• is considered to be a potential National Security risk;
• is 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.
  

The Decision Process

After considering the application, all supporting documentation and requisite reports, the Unit will recommend a suitably qualified applicant for citizenship to the Board.

The Board, after consideration of the application, will grant, deny or delay for cause, the application. The Board will notify the applicant in writing of the decision.

An applicant who is granted citizenship by investment enjoys all the rights of a citizen and is also subject to the laws of Saint Lucia.

Passports

Upon the grant of citizenship, the applicant (and dependents where applicable), will apply for a Saint Lucian Passport.

 

INVESTMENT OPTIONS

A qualifying investment under Saint Lucia's Citizenship by Investment Programme shall satisfy at least a minimum investment in one of the four approved areas. Discuss with GLI's authorized agent what best suits your needs.

Investment Requirements

Option A: Donation to the Saint Lucia National Economic Fund:

• US$100,000.00 for a single applicant (applying alone)
• US$165,000.00 for applicant and spouse
• US$190,000.00 for applicant, spouse and up to 2 dependants
• US$25,000.00 for each additional applicant (i.e. an applicant with a dependant who is not a spouse: USD 125,000.00).

(Note: Comparison shows that Saint Lucia has the most attractive donation option in the Caribbean.)

Option B: Investment in an Approved Real Estate Project: US$300,000, which needs to be held for 5 years after the grant of citizenship

Option C: Investment in an Approved Enterprise Project

Option D: Investment by purchase of non-interest bearing Government Bonds:
US$500,000 - bonds will be repaid after 5 years

COSTS AND FEES

The following are the costs and fees associated with citizenship by investment in Saint Lucia:

• Due diligence: US$7,500
• Processing fee: US$ 2,000
• Administrative fees apply for an approval for real estate, enterprise project investment
• Government Bond: US$50,000
• GLI Agent Fee: On application

(Note: Additional costs apply for dependants and family members and vary with the age of a person.)

 

 

COVID-19 Relief Bond Minimum investment US$250,000 The creation of this special COVID-19 Relief Bond starting at US$250,000 is a non-interest-bearing government bond to which no processing fee is payable by the applicant. The bond must be registered and remain in the name of the applicant from the date of first issue. This bond option is available for a limited time up to December 31, 2022. An administrative fee of US $30,000 is payable by the applicant once the application for citizenship have been granted. There after the qualifying investment sum for this special bond option is payable as follows: Sole applicant (5 years holding bond): US$250,000 Applicant applying with 1 qualifying dependent (6 year holding bond): US$250,000 Applicant applying with up to 4 qualifying dependents (7 year holding bond): US$250,000 Applicant applying with up to 4 qualifying dependents (5 year holding bond): US$300,000 Each additional qualifying dependent along with an applicant applying with up to 4 qualifying dependents: US$15,000