ST Lucia Citizenship in 4 - 6 months
ST LUCIA: CITIZENSHIP-BY-INVESTMENT
St Lucia is the Caribbean’s most recent addition in offering citizenship-by-investment. A beautiful Caribbean island, St Lucia offers one of the most affordable and straight forward citizenship programmes.
There is no residence period and the investor applies directly for citizenship and the passport. The St Lucia citizenship-by-investment programme is very attractive as there is no requirement for any minimum physical stay or visits throughout the programme.
The aim of the citizenship-by-investment (CBI) programme is to generate foreign investment through capital and real estate investments and in exchange offer investors citizenship and a passport.
Applicants and their families are granted full citizenship in exchange for either making an economic contribution to the country, investing in an approved enterprise development project or investing in an approved real estate project, as set out by the Government.
A St Lucia citizenship offers investors visa free travel to a 127 countries, including the UK, Hong Kong as well as the Schengen zone countries.
Please contact us to speak to a private client advisor: info@lio-global.com
BENEFITS
Visa-free travel to 127 countries including the UK, Hong Kong and Schengen Countries.
Citizenship and passport in 4 – 6 months.
No residence period or visit required.
Beautiful properties in 5 star resorts to choose from.
Freedom to sell property after 5 years.
St Lucia is a tax friendly jurisdiction.
INTERESTING INFORMATION
Drive on the left
OFFICIAL LANGUAGE
English
MEMBERSHIP
CARICOM (Caribbean Community), Commonwealth of Nationas, Organisation of Eastern Caribbean States (OECS), WTO, UN, WHO, UNESCO, IMF, Organisation of the American States
CAPITAL
Castries
CURRENCY
Eastern Caribbean Dollar (XCD)
POPULATION
185 000 (2015 est.)
TOTAL AREA
617 km²
LEGISLATURE
Parliament, House of Assembly
CALLING CODE
+1 758
INVESTMENT REQUIREMENTS
The St Lucia citizenship programme requires the investor to make an economic contribution to the country as well as meet certain other requirements. The CBI programme is regulated by the Citizenship by Investment Act No. 14 of 2015.
Investors (and their families) who wish to apply for citizenship by investment must meet one of the following investment requirements:
1
Purchase of real estate with a minimum value of USD 300 000 in an approved real estate development
Evidence of ownership needs to be provided of a property purchased for a minimum of USD 300 000.
If the applicant opts for the real estate option, they may not sell the property within a 5 year period. After the 5 year period they are free to either keep or sell the property.
2
Non-refundable contribution to the NEF - National Economic Fund:
The required donation will depend on the size of the family:
USD 100 0000 for a single applicant
USD 165 000 for main applicant and spouse
USD 190 000 for main applicant, spouse, 2 qualifying dependents
3
Investment in an approved Enterprise Project
A minimum investment of USD 3.5 million is required and the creation of no less than 3 permanent jobs.
Alternatively, a joint investment of USD 6 million and the creation of 6 permanent jobs.
REQUIREMENTS FOR CITIZENSHIP
To qualify for citizenship, applicants must meet the following requirements:
The main applicant is required to be over the age of 18 years’ old.
The applicant will undergo strict due diligence and must not have a criminal record.
Be in excellent health.
CITIZENSHIP
St Lucia allows dual citizenship. The legal framework of the economic citizenship programme allows for the investor and his/her family to obtain citizenship provided they follow the specified requirements.
There is no residence period, the investor acquires citizenship and his/her passport directly. The application process takes 4 – 6 months.
TRAVEL AND BENEFITS
A St Lucia passport allows the holder to travel to around 127 countries and spend a maximum of 90 out of every 180 days in any of the Schengen zone countries.
Some of the popular countries that the passport allows the holder visa-free travel to include: UK, Hong Kong, Singapore and Schengen zone countries.
FAMILY
St Lucia allows dependent children under the age of 25 to be included in the application, provided they are unmarried.
Dependent parents over the age of 65 can also be included.
TAX
The Caribbean is a tax friendly jurisdiction and there is no inheritance or capital gains tax. Persons who are present for more than 183 days a year will be viewed as residents of St Lucia and will therefore be subject to tax.
We highly encourage clients to meet with a professional tax consultant.
FEES
In addition, the Government charges the following fees:
Government Due Diligence Fees
USD 7 500 – Main Applicant
USD 5 000 – Spouse
USD 5 000 – Qualifying Dependents >16
In addition, Government processing fees and professional fees will also be due. This will depend on the size of family and number of applicants.
Please contact us for a personalised proposal: info@lio-global.com
Government Fees (applicable for real estate option)
USD 50 000 – Government Fee – main applicant
USD 35 000 – Government Fee – spouse
USD 25 000 – Government Fee – dependent <18
USD 35 000 – Government Fee – dependent >18
USD 300 – Passport Fee per person
PROCESS AND TIMELINES
The St Lucia citizenship-by-investment programme adheres to very strict regulations and guidelines. The Citizenship by Investment Board (CIB) overseas the Citizenship by Investment Unit (CIU), which is the government authority responsible for the administration of the citizenship programme as well as processing all applications.
Before the submission of an application to the Government of St Lucia, strict and comprehensive due diligence will be done and a medical certificate is also required to confirm that the family is in good health and not suffering from any serious or contagious illnesses. The CIU will examine the applications closely and may sometimes request additional documents.
The average processing time is 4 months, making the process a very fast one. In the above notes we mention 4-6 months in order to cover for any unexpected delays. Once the applicant receives their approval in principal, they have 60 days in which to make the investment. If the real estate option was chosen, they also have 60 days in which to pay the Government administrative fees.
A successful applicant must then sign the oath of allegiance in front of an attorney-at-law, Consular Officer of
Saint Lucia, Honorary Consul of Saint Lucia, Notary Royal or a Notary Public. Once all steps and requirements have been achieved and the application is approved, the applicants can collect their passports.
PORTUGAL - COUNTRY INFORMATION
St Lucia is an independent Commonwealth country situated in the Caribbean and forms part of the CARICOM. The island is part of the Lesser Antilles and can is near Barbados, St Vincent and Martinique.
The French were the island’s first European settlers and in the ensuing wars, it was ruled seven times each by the French and the British. For this reason, Saint Lucia was often called “Helen of the West Indies”.
RESOURCES
Government of St Lucia: http://www.govt.lc/
St Lucia Tourism Authority: https://www.stlucia.org/en/
CONTACT US TO MEET WITH A PRIVATE CLIENT ADVISOR: info@lio-global.com or complete the form: Here
