The price structure of the Saint Lucia citizenship by investment program has been changed as of July 1st, 2024. This has a significant effect on the people seeking second citizenship from all over the world as it is one of the most sought-after programs among all the Caribbean citizenship by investment programs. It might arguably be the most sought-after CBI programs in the world. Here we will discuss the new price structure, the benefits, and the basic requirements of getting a St. Lucia passport.
Brief Overview
- Summary of Saint Lucia’s citizenship by investment price changes
- Benefits of St. Lucia Citizenship
- Documents Required
- Process of attaining a CBI
- Conclusion
Summary of Saint Lucia’s citizenship by investment price changes:
Saint Lucia Citizenship by Donation – National Economic Fund:
- For the main applicant, and up to 3 dependents: $240,000
- For additional dependents under 18 years old: $10,000
- Additional dependents over 18 years old: $20,000
Saint Lucia Citizenship by Real Estate Investment:
The minimum amount for a real estate investment is $300,000
Benefits of St. Lucia Citizenship.
Visa-Free Access to The World: You get visa-free access to over 140 countries including the Schengen Area, the United Kingdom, Hong Kong, and Singapore.
Diverse Investment Options: In this program, you have the option to either invest in approved enterprises, invest in real estate, or invest in government bonds.
Returnable Investment: After a holding period of 5 years foreigners can sell their real estate back to the developer, and bonds back to the government.
Family Inclusion: Applicants can include their spouses and dependents in a single application.
No Residency Required: You don’t have to reside in the country. There is no minimum number of days that have to be spent in St. Lucia to maintain citizenship.
Dual Citizenship: You don’t have to give up your original citizenship.
Tax Benefits: St. Lucia has no tax on capital gains, no inheritance tax, no wealth, and no tax on global income, the real estate tax is 0.25 to 0.4%.
Fast Processing Timing: This program is one of the quickest and most efficient CBI programs. You get your passport within 3 to 6 months after initiating the process.
Documents Required
- Passport and Applicable national identification card
- Recent passport-size photographs
- A copy of the birth certificate or equivalent document
- A Medical certificate to affirm your state of health
- Police clearance certificates from any country where you’re residing for a minimum of six months.
- Marital Status Documents: (If applicable)
- Financial Solvency Documentation
- Evidence of Investment
- Character Reference Letters
- Affidavit explaining your source of funds
Process of attaining a CBI
Consultation: It is advised that you contact a registered reputed agent or immigration firm where you are applying to discuss your eligibility and investment options.
Due Diligence: Pass a thorough due diligence check that would validate your identity and background information. You will have to go through an interview either in person or online.
Investment: Choose an approved investment option, either a government fund contribution or acquiring real estate.
Fulfillment of investment: Once you have received the approval after the due diligence phase you have up to 90 days to invest in the chosen bond, business venture, etc.
Application Submission: Apply with documents as required by the Citizenship by Investment Unit.
Government Approval: Your application is then approved by the government for citizenship.
Oath of Allegiance: Take an oath of allegiance to Saint Lucia.
Passport Issuance: Delivery of your Saint Lucian passport.
Conclusion
Although the government of St. Lucia has increased the prices of its CBI program, it still has a unique combination of amazing benefits that make it a great choice for anyone seeking dual nationality.