st lucia cbi guide 2024
Located on the edge of the Atlantic Ocean, Saint Lucia is a nation in the Eastern Caribbean. In February 1979, it gained independence from the Commonwealth of Nations, a day now celebrated annually as Independence Day in Saint Lucia. Its history has been shaped by influences from other Caribbean countries, England, France, and Africa. The nation’s capital, Castries, is situated in the island’s northern part and houses approximately 40% of Saint Lucia’s population. The climate of Saint Lucia is tropical, moderated by northeast trade winds.
Tourism and banana production are cornerstone industries in Saint Lucia’s economy, complemented by a range of small-scale manufacturing sectors. The educated workforce, robust infrastructure, and various amenities have made this region appealing to foreign investors. On January 1, 2016, Saint Lucia introduced its investment program, allowing investors and their families to gain citizenship and a second passport in a remarkably short time.
Saint Lucia Citizenship by Investment program is among only five Caribbean programs offering direct citizenship by investment. It allows foreign investors to obtain a second citizenship and passport within a timeframe of just 3-6 months! This page outlines the program’s operation, associated costs, procedures, and the advantages of gaining Saint Lucia citizenship.
Investment options to obtain Saint Lucia Citizenship
Saint Lucia Citizenship by Investment Program provides several qualifying investment options to potential applicants, including:
Contribution to the National Economic Fund (NEF)
This involves making a direct monetary donation to this fund which is established to finance national development projects. Minimum donation requirements follow:
- $240,000 for a single main applicant
- $240,000 for the main applicant and their spouse
- $240,000 for a family of four
- An additional $10,000 for each dependent added to the single applicant under 18.
- An additional $20,000 for each dependent added to the single applicant above 18.
Government fees include:
$7,500 for the main applicant
$5,000 for the applicant’s spouse
$5,000 per dependent over the age of 16
The file review fee is:
$2,000 for the main applicant
$1,000 per dependent
The cost of passport acquisition is $300 per person.
Investment in approved Real Estate Projects
Applicants can invest in projects like hotels, resorts, or approved luxury property developments. An investment of at least $300,000 in real estate is required, with the property to be held for a minimum of five years.
Government fees are as follows:
- $50,000 for the main applicant,
- $35,000 for each dependent over 18 years old,
- $25,000 for each dependent under 18 years of age.
Additional costs include:
- $7,500 for the main applicant,
- $5,000 for the applicant’s spouse,
- $5,000 per dependent over 16 years old.
The file review fee is:
- $2,000 for the main applicant,
- $1,000 per dependent.
- The cost of passport issuance is $300 per person.
Government Bond purchase
The investment requirements for the COVID-19 Relief Bond are as follows:
- $300,000 for a single primary applicant, to be held for 5 years
- $300,000 for a primary applicant and their spouse, to be held for 6 years
- $300,000 for a primary applicant and up to 4 dependents, to be held for 7 years
- An additional $15,000 for each extra eligible dependent.
Special provisions include:
- The ability to add financially dependent children up to 30 years of age
- The opportunity to add dependent parents of the principal applicant or their spouse, aged 55 or above.
Investment in approved Enterprise Projects
This allows individuals to invest in pre-approved enterprise projects in areas such as agriculture, manufacturing, or other specific industries identified as growth sectors, including infrastructure projects such as ports, bridges, roads and highways, research institutions and facilities, or offshore universities.
Applicants have the option to invest a minimum of US$3.5 million in an approved enterprise project, which must generate at least three job opportunities. Alternatively, two applicants can jointly invest US$6 million and create six jobs to meet the requirements.
After your Saint Lucia citizenship by investment application has been deemed eligible for processing, you can expect an approximate wait time of ninety (90) days before receiving approval.
The process of obtaining St. Lucia Citizenship by Investment
- Initial Consultation: Cross Border Freedom Advisers will evaluate your situation and advise you on the most fitting investment options. They will guide you through the application criteria and provide you with a list of necessary documentation.
- Preparation of Documents: Our team will offer a detailed checklist and assist you throughout the document collection phase. Our skilled advisers will meticulously review all your documents to ensure they meet compliance standards and fulfill all required stipulations.
- Submission of Application: After assembling all your original documents, our experts will review and prepare your file for submission. As per legal requirements, your application will be presented to the Saint Lucia Government via an authorized local agent.
- Processing of Application: Each application undergoes a thorough due diligence background check performed by the Government. During this phase, all provided information is scrutinized and validated. It’s important to note that there’s currently no requirement for an interview.
- Pre-Approval: Once the Government completes reviewing your application, you will receive a notification letter stating their decision. This letter will promptly be forwarded to you.
- Final Investment: Upon the approval of your application, you will be required to conclude your chosen investment, whether it’s a non-refundable contribution, real estate purchase, or government bond investment.
- Issuance of Saint Lucia Passport (3-6 months): Your citizenship certificate will be issued upon finalizing your investment. Our team will then take care of submitting your passport application on your behalf. Visiting Saint Lucia is unnecessary, and your passport will be shipped to your preferred address.
Benefits of saint lucia passport
Saint Lucia Citizenship and Passport by Investment Program presents a range of advantages to investors and their families. Key benefits include:
- Successful applicants can typically receive their citizenship and passport within a timeframe of three to six months from the date of application.
- The program provides opportunities for investors to diversify their portfolios through real estate investments in one of the world’s most popular tourist destinations.
- Saint Lucia passport holders can enjoy visa-free access to more than 130 global destinations. for more details visit saint lucia passport visa free countries in 2024
- There is no requirement for physical residency in Saint Lucia.
- Applicants or their family members have no prerequisites regarding experience, language proficiency, or educational qualifications.
At Cross Border Freedom, our aim is to ensure a smooth and worry-free experience while assisting you throughout the Saint Lucia citizenship acquisition process. Our dedicated team will walk you through every step of the acquisition process, from initial consultation to final approval, with meticulous care and attention to detail.
