St. Lucia launched its Citizen by Investment Program on January 1, 2016 giving qualifying High Net Worth individuals and their families the ability to apply for citizenship and a second passport quickly and efficiently. Depending on the country, the investment amount can vary from just over $100,000 (St Lucia and Dominica) to over $2.5 million (Cyprus), plus applicable processing and due diligence fees. PASSPORT INVESTMENT. The good news is that the eligibility requirements are pretty standard and don’t make it too difficult for a Nomad Capitalist to tick all of the boxes. Inclusion of dependent children under 25. Extensive due diligence has been the hallmark of the Saint Lucian program. While we value comments that add to the conversation, we reserve the right to edit or delete anything that is abusive, threatening, libelous, spammy, or is otherwise inappropriate. Therefore, to qualify for citizenship in Saint Lucia, applicants must fulfill one of the following investment requirements below as well as these criteria: High net worth individuals may choose to make a financial contribution to the NEF organization using one of these prescribed contribution levels. Before you invest in any country, you should take a long and careful look at its economy. We talked about the new payment system in the article “2 minutes instead of 2 weeks: St. Lucia has simplified payments for the citizenship programme”. Investors are required to invest at least $500,000 in government issued non-interest-bearing bonds and hold them for at least five years. A certification from the police department of the applicant’s country of birth, or certification from the applicant’s country of residence for at least one year during the 10 year period immediately preceding the submission of the CIP application; The government has also made a permanent change for newborn dependents. All five countries in the Caribbean currently operating Citizenship by Investment programs have similar benefits. A piece of paradise on your horizon. What is a CBI program? St Lucia has taken top spot in Best CBI rankings for 2021. 20 Micoud Street Out of respect to those who engage our services, we don't provide personalized advice or referrals unless you engage us. Put differently, it has a much higher-end vibe than Dominica but for the same price tag. There are three notable differences between Saint Lucia and its Caribbean neighbors. Here is a full list of approved real estate developments that you can invest in. In May, government officials in St. Lucia introduced a new option under its Covid-19 Relief Bond to gain citizenship through bond investments. We’re not saying it’s necessarily bad, but it’s a distinguishing factor between the two nonetheless. The country recently enacted provisions in citizenship law starting from 2016, granting immediate citizenship to foreign investors who invest in real estate, business investment in the country. There aren’t many cons in relation to the Saint Lucia CBI program. They will add additional investment sums and fees, and thus increase the total needed investment. Money in the bank earns almost nothing now anyway, so if you have cash that you’re not investing, it’s a good deal. St. Lucia has the lowest donation amount and fees of any CBI program. Not too long ago, the government promised that they would double the nation’s GDP in a decade, but this was perhaps a populistic over-promise, despite being a laudable goal for a country that’s suffering high-unemployment. It’s up to you to decide which one you’d like to go for. You won’t need to sit around and wait for years until your citizenship is approved. Have an outstanding character. ... St. Lucia admin-erdem 2021-01-26T13:46:31+00:00. All these programs allow qualifying applicants to acquire citizenship in exchange for a major investment in the country in question. No amount of tourism or crop diversification was ever going to get Saint Lucia’s economy where it needs to be. Over the years, St. Lucia has acquired decades of rich experience in economic, tourism and immigration activities from its Caribbean neighbors of St. Vincent, Grenada, and Martinique. Become a citizen of St. Lucia in the Caribbean and get a passport offering visa-free travel to 145+ countries. Vibrant offshore sector. Usually, countries will only ask you to do one of those things, but there are exceptions (e.g., Just in case you ever decide to visit or reside in Saint Lucia, let’s talk about t. : banana production and tourism. The administration and due diligence fees, especially the $50,000 fee for alternative investment options other than the donation to the development fund, put Saint Lucia at a higher fee price-point than its neighboring countries. Incorporating the best practices from surrounding CBI schemes, it offers many advantages for investors and residents alike. Just in case if my lawyer is ok, I will let you know you later. This comes as no surprise since the government of Saint Lucia is making a concerted effort to not just attract foreign capital but also create jobs for its population. Today, the total investment raised is over $40 million and the total number of passports issued is approximately 650. China is the top source for new Saint Lucian citizens (21%), followed by Russia (9%) and Syria (8%). Citizenship by investment in Saint Lucia is available through three options. In total, a solo applicant going for the real estate option will shell out, . Why choose St. Lucia. Invest $250,000 in government bonds and hold 5 years. 2. Can I do this from my home country without visiting St.Lucia? Some might even say it’s more of a ‘Western’ passport. The St. Lucia's Citizenship by Investment Programme was established in 2015 to boost country's economy.The government launched the program on 1st January 2016, making it the newest Caribbean CIP. . Its capital, and largest, city, Castries, represents 40% of the island’s population. If these two countries are important for you to have visa-free access to, you won’t get it with a Saint Lucian passport. Saint Lucia recognizes dual citizenship, so you won’t have an issue obtaining and having two passports, ever. Castries Visit 145+ countries, including the EU, the UK, and Ireland. This is achieved by limiting. St. Lucia is located in the Caribbean between the Caribbean Sea and the North Atlantic Ocean. . Now, instead of the $25,000 fee for additional dependents, it will only cost $500 to add a newborn to your application. Each project is pre-approved by the government and featured on their. If you are interested in the newest and arguably the best-positioned citizenship by investment program in the Caribbean, you need to consider Saint Lucia. What is the medical care like in St Lucia . A donation will never be recouped, whereas the other forms of investment will be subject to a holding period, after which you could potentially get your investment back. The government of St. Lucia launched its citizenship by investment programme on 1st January 2016. St Lucia 14 of 2015. To qualify for citizenship, you can either make a minimum donation of $100,000 to the government, purchase real estate on the island starting from $300,000 or make an investment from $250,000 in government bonds. Taking on board the best practises, Saint Lucia launched its citizenship by investment program in December of 2015. Saint Lucia is an Eastern Caribbean island nation on the boundary with the Atlantic Ocean. The application fees for those who go the government bond route are considerably higher than if you were to go the donation route. No 3 of 2016. It’s a safe and stable country: Saint Lucia is a member of the UN, CARICOM (Caribbean Community), and various other Caribbean-based unions. If you stay out of the country or a non-resident, then you avoid local taxes, but the point of the citizenship might be slightly lost then anyway. 14 of 2015). St Lucia. . • Entire family are eligible. ⤅ How Does the St. Lucia CBI Program Compare? Saint Lucia National Economic Fund is a special fund established under Section 33 of the Citizenship by Investment Act to allow qualified investmentors to fund government sponsored projects. These are the most desirable community and infrastructure projects that you can expect to contribute to. This is, of course, problematic for a country that wants to grow its GDP and improve the lives of its population. Parliamentary democracy (Parliament) under a constitutional monarchy and Commonwealth realm. You don’t have to reside in Saint Lucia before, during, or after the application process. St Lucia citizenship by investment. The Saint Lucia Citizenship by Investment program is the youngest Caribbean passport program. No interview, education or managerial experience required. The purpose of the Citizenship by Investment Act No.14 of 2015 is to enable persons to acquire citizenship of Saint Lucia by registration following a qualifying investment in Saint Lucia. How does one jurisdiction differ from another, and what should a high net worth investor pay attention to when obtaining his second passport? No tax on worldwide income. The beautiful coastline is irresistible to ignore. Your family can come too. • No physical presence required & no minimum stay required. You can travel to over 145 countries visa-free with your Saint Lucian passport, including all of the EU, the UK, Ireland, Singapore, Hong Kong and many others. There is also a drive-in volcano, rainforests, national parks, botanical gardens and, of course, the beaches. This does exclude any agency fees, but these are going to be the same, no matter which CBI program you go for. Currently five island nations in the Caribbean operate Citizenship by Investment programs: Antigua & Barbuda, Dominica, Grenada, St Kitts & Nevis and St Lucia. You can see the evidence in the efficient Citizenship investment programs for investors. . At just $100,000 (plus fees), you could get access to over 145 countries visa-free, get all of the tropical benefits, and enjoy your Saint Lucian passport for the rest of your life. In fact, it’s one of the top performers in the region. Citizenship from Saint Lucia provides you, the investor, and your applicable dependent family members up to the age of 25, as well as parents over 65 … To qualify for citizenship, you can either make a minimum donation of $100,000 to the government, purchase real estate on the island starting from $300,000 or make an investment from $250,000 in government bonds. You can obtain citizenship for your spouse, dependent children (under 25), and parents (over 65) when applying for the Saint Lucian CBI program, but each dependent comes at an additional price. Invest only after getting approved. Invest $300,000 in pre-approved real estate, plus fees. It has meant rejecting a fair few applicants and even revoking the citizenships of six of its own naturalized citizens due to acts committed by them. Second, Saint Lucia offers some of the more exotic investment options for those who don’t want to go the donation route. You can then apply for and receive your Saint Lucian passport in a week’s time. Protecting our clients’ privacy is important to us. There are several approved investment routes available to investors. You don’t have to reside in Saint Lucia before, during, or after the application process. Only 500 applicants are approved per year, which has helped to retain the value and credibility of St Lucia's passport around the world. If it floats your boat, you can invest in government bonds and even enterprise projects. St Kitts and Nevis, St Lucia, Dominica, Grenada, and Antigua and Barbuda all offer easy citizenship-by-investment – is there a hitch? The government launched the program on 1st January 2016, making it … Together with its past comes English as the official language, charming colonial architecture, a legal system based on English common law, and access to the UK and Ireland. Sure, there are already programs in countries like Antigua and Barbuda, Dominica, St. Kitts and Nevis, and Grenada, but another one is great to have nonetheless. That’s because the country has not been too keen to establish relations with them. Overview Part of The Commonwealth, Saint Lucia is a sovereign island nation in the West Indies that is located in the eastern Caribbean Sea on the boundary with the Atlantic Ocean. Today, Saint Lucia’s citizenship by investment program accounts for a healthy, In addition, the Saint Lucian government has run the program differently than its neighbors. No residency requirement. Here is the link https://nomadcapitalist.com/apply. Delays might be caused by extra due diligence processes. Learning from its close neighbors and their CBI programs which had run for decades, Saint Lucia could really pick and choose which aspects to include in their own program. Saint Lucia Citizenship Investment Program offers the investor four choices for investment in exchange for citizenship, as follows; 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 approved government … Saint Lucia Citizenship by Investment Program welcomes individuals and their respective family members to obtain citizenship in exchange for making an economic contribution to the country. 14 of 2015, the Citizenship by Investment Act on 24th August 2015 enabling foreing investors and families acquire citizenship of Saint Lucia through these investment routes. The crime rates are very low and there is access to modern healthcare and infrastructure. OPTION 1 $100,000 — Government donation Saint Lucia has masterfully positioned its Citizenship Investment Program to benefit the global elite. • Short investment period. Not only does it mean my wife and I can now enjoy visa-free travel to all of Central and South America, but I can also expand my manufacturing business in the EU.”, “Andrew and his team at Nomad Capitalist are simply the best in the second citizenship business. Pay the due diligence fee and the registration fee (real estate option). As long as St. Lucia doesn’t “go Argentina” and default on bonds, you will get that money back in five years. To qualify for citizenship, the main applicant must be over 18 years of age, meet the due diligence requirements and select one of the following options: Should you have any questions, or if you would like a detailed breakdown of the exact costs for your family, kindly contact us and we will be delighted to help you. 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