St. Lucia is one of those countries whose citizenship is appreciated by worldwide individuals due to several perks associated with it. Fortunately, individuals with high net worth can enjoy those perks through the St Lucia Citizenship by Investment programs. The government of St. Lucia, to ensure consistent growth in the country’s economy, infrastructural development, and overall betterment, offers terrific opportunities to acquire the nation’s citizenship by making financial contributions.
Let’s explore in detail the options you have and their eligibility criteria.
St Lucia Citizenship by Investment: 4 Different Possibilities
National Economic Fund:
This is one of the most convenient and least expensive routes to St. Lucia’s citizenship. In this program, applicants need to make a one-time, non-refundable contribution that goes straight to the country’s economic growth. The contribution amounts to $240,000 for the main applicant, with additional fees for dependents as per a structured fee schedule. Here’s how the fee varies according to different dependents:
1) The Primary investor with three qualifying dependents – US$240,000
2) Additional qualifying dependent (under 18 years of age) – $10,00
3) Qualifying dependent (above 18 years of age) – $20,000
4) Newborn child, up to 12 months of age – $5,000
5) Spouse – $35,000
6) Qualifying dependents apart from a spouse – $25,000
Apart from these, you will also need to pay for the CIP application and due diligence fee.
Note: You can add the spouse, child, or other dependents within a timeframe of three years after receiving your application approval.
Real Estate Investment:
St. Lucia is popular for its extravagant hotels, restaurants, beaches and other visitor spots, and the government is keen on developing these amenities further to contribute to the tourism growth. This path to citizenship is to invest $300,000 in one of the approved real estate projects in St Lucia. This investment is usually in properties such as hotels, resorts, boutiques, or holiday homes held for a minimum of five years. Financing options are available through local banks, making this a tangible investment that supports the country’s real estate sector.
National Action Government Bonds:
St Lucia offers the option to invest in government bonds which is considered a risk-free investment with a full refund upon maturity. Investors can invest $300,000 in non-interest-bearing government bonds (fully refundable after a 5-year holding period). This option provides a secure investment while also granting citizenship, offering a balanced approach to financial planning and acquiring citizenship.
Joint Enterprise Business Projects:
For those interested in business ventures, investing $1,000,000 in approved joint enterprise projects can be a great option to apply for citizenship. This route involves a partnership with the government in projects such as universities, ports, research, or agriculture. The joint enterprise investment option is focused on encouraging economic development and fosters collaborations between investors and the local government.
What Is The Eligibility Criteria For Citizenship By Investment
To be eligible for citizenship by investment in Saint Lucia, individuals must meet the following criteria:
Investment Requirements:
According to each program, the applicant must have enough funds along with proof of funds to be eligible. This also includes the additional charges such as:
1) Application Fee: USD 2000 for the main applicant, USD 1000 per dependent
2) Due Diligence Fee: USD 8000 for the main applicant, USD 5000 per dependent
3) Bank Fee: USD 1000
Family Members:
Spouses, children under 18 years old, financially dependent children up to 30 years old, disabled children of any age, parents over 55 years old, and unmarried siblings under 18 years old can be included in the application.
Documents Required:
1) Certified copy of Birth certificate. An original birth certificate is required when applying for a passport.
2) Certified copy of all passport pages
3) Police clearance report (FBI if in the USA) for individuals 16 and older
4) CV/Resume for individuals 18 and older
Wrapping Up
With so many different options for acquiring citizenship, you can choose the one that best suits your interests and goals. Ensure you are eligible to apply, carefully curate your documents, and consult a professional to smoothen the entire process while avoiding common mistakes.
If you need assistance with the process of St Lucia Citizenship By Investment, feel free to consult our experienced immigration consultants in Dubai and Qatar at GRMS Consultants!