Saint Lucia has introduced a game-changing development in its citizenship by investment program. The “infrastructure option” is the new program that requires a minimum investment of US $100,000. Before this announcement, the minimum requirement for an enterprise project was $3.5 million. In this article, we will explore the details relating to this program.
Topics Covered
- Introduction to the infrastructure options
- Benefits of Saint Lucia Citizenship by Investment
- Guide to applying for the infrastructure options
- Documents required
- FAQs
Introduction to the Infrastructure Option
St. Lucia CBI program has slashed the minimum investment in enterprise projects down to $ 100,000. The investor can invest $ 150,000 if they want to include a family of up to four. This is significant because previously the minimum amount for investment in a project was $3.5 million. It was the most underutilized CBI program. This new option is attractive because it is an investment and not a non-refundable contribution, such as the $100,000 contribution to the National Economic Fund of St. Lucia.
In the infrastructure option, the foreign investor can choose an approved project from a list of industries. These industries include specialty restaurants, agro-processing plants, bridges, research institutions, housing projects, and cruise ports among others.
This option is one of the most attractive and affordable, among all other Caribbean citizenship-by-investment programs.
Benefits of Saint Lucia Citizenship
The CBI program of Saint Lucia offers very attractive benefits which include:
Visa-free Travel: According to the2024 Passport Index, Saint Lucia passport will allow you visa-free access to over 148 destinations worldwide.
Security and Stability: In case of political or economic turmoil in your country of origin, this citizenship offers you a safe haven for you and your family. Saint Lucia is a strong parliamentary democracy and a very peaceful and stable society.
New Business Opportunity: Visa-free travel gets you access to many important markets around the world. This can do wonders for your business.
Tax Advantages: Saint Lucia has no inheritance tax, no tax on worldwide income, and no capital gains tax. It is a tax haven. This represents a significant advantage for global entrepreneurs and investors.
Guide to applying for the infrastructure options
- Contact a Licensed Agent: The licensed agents are authorized by the St. Lucia Citizenship by Investment Unit (CIU). These agents will guide you through the application process.
- Due Diligence: The (CIU) conducts thorough due diligence and performs checks on all the applicants of the programs.
- Investment: You invest the required amount into the government-approved project based on your preference.
- Submission of Application: You compile the required documents and submit the application along with the required fees.
- Processing and approval: The CIU will process the application and then they will notify you of the outcome. In case of approval, you will be invited to take an oath of allegiance and you will become a St. Lucian citizen.
Documents required
These documents typically include the following:
- Application forms (completed)
- Passport and travel documents
- Police certificates from countries of residence
- Proof of your income and assets
- Birth certificates and marriage certificates (if applicable)
- Educational certificates
- Medical certificates
FAQs
Q: What is the minimum residency requirement?
A: There is no minimum residency requirement.
Q: How long will the application process take?
A: The processing time ranges from 3 to 6 months.
Q: Are dependents included in my application?
A: Yes, you can invest an additional $ 50,000 if you want to include a family of up to four.
Conclusion: This program is unique because it gives you multiple investment options. It opens up a world of opportunities. The infrastructure option has made Saint Lucia citizenship more attractive for discerning investors looking for a second citizenship.