The rum-rich island of Saint Lucia supposedly lured notorious pirates like “Peg Leg” and “Blackbeard” to its magical shores. Reportedly, the village of Vieux Fort is where the infamous Blackbeard stashed a number of his valuables. The island’s daring nature is heightened by the prospect of hidden riches.
This idyllic island chain, nestled between Martinique and Saint Vincent and the Grenadines, is more than simply a vacation spot for many people. For some, it’s the perfect “Plan B”—a second citizenship that grants them more independence and safeguards their assets. Individuals and families can acquire St. Lucian citizenship through a unique avenue offered by the Citizenship-by-Investment (CBI) program if they make a substantial investment in the country.
St. Lucia might be where you find the greatest treatment, whether you’re an investor, a family looking for a place to settle down, or a successful business.
Investment citizenship in St. Lucia: everything you need to know
The 2015 Citizenship by Investment Act (No. 14) governs the St. Lucia Citizenship by Investment Program. Section 33 of this law created the Saint Lucia National Economic Fund (NEF), responsible for receiving the program’s qualifying investments and donations. The administration plans to use these monies toward the national development agenda.
The program’s participants are expected to substantially impact the national economy. After undergoing rigorous application and due diligence examinations, applicants and their families are awarded full citizenship in exchange. To be eligible, complete the application, and choose an investment choice, the primary applicant must be 18 or older:
- Investing at least USD 200,000 in a piece of land from a legitimate real estate development and holding on to it for at least five years
- Creating at least three full-time jobs and contributing at least USD 3.5 million to an authorized business initiative are also required. Or, six full-time positions might be created in addition to a combined investment of $6 million (assuming each candidate puts up at least $1 million).
- A one-time $100,000 donation to the National Economic Fund that is non-refundable.
- For the primary applicant and their spouse—$140,000
- First-time applicants, their spouses, and any two eligible dependents can receive up to $150,000.
- The primary applicant, their spouse, and two other qualified dependents can get USD 15,000 for each new dependent that applies.
- $25,000 USD for every eligible dependent
- Purchasing and holding for a minimum of five years a quantity of $300,000 worth of non-interest-bearing government bonds (plus an administrative charge of $50,000).
Advantages of Being a Citizen of St. Lucia
Joining St. Lucia’s Citizenship by Investment program is a great way to improve your standard of living in many ways, including more freedom to travel the world and lower tax rates.
- International Travel and Passports
Passport holders of St. Lucia are eligible for visa-free or visa-on-arrival entry to more than 146 countries and territories. Among these are the UK, the Schengen Area, and important financial centers like Hong Kong.
- Tax Benefits
For its residents, the island country offers a tax system that is hard to resist. Inheritance, capital gains, wealth, and income from anywhere globally are all exempt from taxation. Investors looking for a tax haven may find St. Lucia appealing because of its fiscal policies, which attempt to preserve wealth while encouraging growth.
- The Realm of Business
St. Lucia offers international investors a stable and welcoming environment. The official language, English, makes it much easier to communicate and do business and fit in with the local market.
Business Project Categories That Qualify
- Unique Dining Establishments
- Pharmaceuticals Harbors and Cruise Ports
- Transportation (Highways, Ports, Bridges, and Roads)
- Way of life and neighborhood
St. Lucia is known for its relaxed island lifestyle and active community involvement. From the vibrant Carnival to the yearly Jazz Festival, locals have plenty of opportunities to immerse themselves in the vibrant tapestry of culture. The locals have a sense of togetherness and friendliness, especially among expats who have become close friends through the Citizenship by Investment program.
How to Apply for St. Lucia Citizenship by Investment and When It Will Be Available
With no problems detected, the application procedure shouldn’t take more than four months from start to finish. This includes waiting for the certificate of citizenship to be issued. If, due to unusual circumstances, professionals anticipate a processing period greater than three months, they will notify the applicant of the anticipated delay.
The Citizenship by Investment Board, which oversees a specialized CIU, will review citizenship applications and decide to grant, refuse, or postpone for good reason. The lawyer will submit the applicant’s citizenship by investment application in electronic and paper forms. Please ensure that all applications are filled out in English.
Before the CIU may process an application, the necessary supporting documents must be supplied. Include the applicable nonrefundable processing and due diligence costs with your application. These payments apply to the principal applicant, their spouse, and any qualified dependents.
The primary applicant has 90 days from the application acceptance date to send the necessary payment for the eligible choice. An attorney-at-law, notary royal, or public must witness the oath or affirmation of loyalty signed by the successful applicant. Under extraordinary circumstances, the minister may, by order, revoke citizenship.
In the end!
Although St. Lucia is still a young player in the CBI scene, it is already drawing much interest. Many hold St. Lucia Citizenship by Investment highly esteemed because of its rigorous due diligence procedures and high standards. No matter the nation or program you’re interested in, navigating through citizenship by investment or golden visa schemes may be complicated and confusing.
You aren’t alone if you’re having trouble locating reliable sources of information. Any number of immigration programs can be better understood and navigated with the help of an expert team.