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Monday, May 27, 2024

    St. Lucia Citizenship By Investment Program Benefits & Procedures

    Applicants must have contributed significantly to the national economy to be eligible for the St. Lucia Citizenship by Investment Program.

    The candidates and their families receive full citizenship in return, subject to a rigorous application process and due diligence requirements.

    Under the Citizenship by Investment Act No. 14 of 2015, the St. Lucia Citizenship by Investment Program is governed.

    Benefits of the St. Lucia Citizenship by Investment Program

    • No prior visa is required for over 140 destinations including Europe’s Schengen Area, Hong Kong, Singapore, the UK, and many others.
    • No residence or visitation is required.
    • Applicants can include a spouse, children under 31, siblings under 18, and parents aged 55 and over, as well as add dependents after they have been granted citizenship.
    • The program has attractive investment and processing costs.
    • St. Lucia recognizes dual citizenship.

    Requirements of St. Lucian citizenship by investment

    The St. Lucia Citizenship by Investment Program is regulated by the Citizenship by Investment Act No. 14 of 2015. § 33 of this act established the Saint Lucia National Economic Fund (NEF), which receives the qualifying investments of donations from the program. These funds will be used by the government under the national development agenda.

    The program requires applicants to make a significant economic contribution to the country. In exchange, and subject to a stringent application process and due diligence checks, the applicants and their families are granted full citizenship.

    The main applicant must be at least 18 years of age to qualify, meet the application requirements, and select one of the following investment options:

    1. Purchase of real estate with a minimum value of USD 200,000 from an approved real estate development, which must be held for a minimum period of five years

    2. Participation in an approved enterprise project with a minimum contribution of USD 3.5 million, plus the creation of no less than three permanent jobs.

    Alternatively, a joint contribution of USD 6 million (with each applicant committing a minimum of USD 1 million) plus the creation of no fewer than six permanent jobs

    3. Non-refundable contribution to the National Economic Fund of USD 100,000 for a single applicant. Alternatively:

    • USD 140,000 for a main applicant and spouse
    • USD 150,000 for a main applicant, spouse, and up to two qualifying dependents
    • USD 15,000 for each additional dependent applying with the main applicant, spouse, and two other qualifying dependents
    • USD 25,000 for each qualifying dependent

    4. Investment in non-interest-bearing government bonds with a minimum value of USD 300,000 (and an administrative fee of USD 50,000), which must be held for a minimum period of five years

    All qualifying dependents must have a clean personal background with no criminal record and not be under any criminal investigation (other than in respect of a minor offense).

    A person that is deemed a potential security risk or who is or has been involved in any activity that is likely to bring disrepute to St. Lucia shall not be approved for citizenship.

    Procedures and time frame

    The application process should take no longer than four months from submission of the application to issuance of the certificate of citizenship, assuming there are no areas of concern with the application.

    The Citizenship by Investment Board, which provides oversight to a dedicated citizenship by investment unit (CIU), will consider an application for citizenship and its outcome may be to either grant, deny, or delay for cause.

    All requisite supporting documents must be attached to an application before it can be processed by the CIU. All applications must be accompanied by the relevant nonrefundable processing and due diligence fees for the principal applicant, their spouse, and each qualifying dependent.

    The main applicant must remit the required funds for the qualifying option within 90 calendar days after notice of approval of their application.

    A successful applicant shall sign the oath or affirmation of allegiance before an attorney-at-law, notary royal, or notary public. The minister may, by order, revoke a grant of citizenship in exceptional circumstances as may be deemed necessary.

    Dual citizenship
    There are no restrictions on dual citizenship in St. Lucia.

    St. Lucia


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