St. Lucia Citizenship by Investment: Journey towards second passport

St. Lucia, an idyllic Caribbean Island nation, is rapidly emerging as a sought-after destination for investment migration and acquiring a St. Lucia second passport

The St. Lucia Citizenship by Investment (CBI) program offers individuals the opportunity to obtain a second passport and citizenship in exchange for a qualifying investment.

Established in 2015, this relatively new program has gained significant popularity due to its affordability and streamlined process.

In this article, we present a detailed guide to the St. Lucia Citizenship by Investment program, covering eligibility requirements, investment options, the application process, as well as the program’s advantages.

To know more about a second passport and citizenship by investment get help from Ace Luxury’s legal team who are experts in implementing, operating, and positioning CBI programs.

Eligibility Requirements

To be eligible for St. Lucia’s CBI program, applicants must meet the following criteria:

1. Age: Applicants must be 18 years or above.
2. Clean Criminal Record: No criminal history.
3. Good Health: Applicants should be in excellent health and must pass a medical examination.
4. Genuine Source of Funds: Applicants must demonstrate a legitimate source of funds for their investment.
5. Minimum Investment: Applicants requires to make a minimum investment in one of the approved investment options.

Investment Options for St. Lucia CBI

For individuals interested in acquiring citizenship through the St. Lucia CBI program, four investment alternatives are available:

1. National Economic Fund (NEF): This option entails a minimum contribution of USD 100,000 for a single applicant, USD 140,000 for a couple, and USD 150,000 for a family of four. The funds are granted to the government of St. Lucia.
2. Real Estate Investment: Investors can choose to invest a minimum of USD 300,000 in a government-approved real estate development. The investment should maintain for a minimum period of five years.
3. Approved Enterprise Project: This option involves investing a minimum of USD 3,500,000 in an authorized company project.
4. Government Bonds: Currently, there is no government bond option available under the St. Lucia CBI program.

Application Process

The application process for the St. Lucia Citizenship by Investment program comprises the following steps:

1. Pre-Approval: The applicant submits an application for pre-approval and pays a non-refundable processing fee. After evaluation, if the application is accepted, the candidate proceeds to the formal application stage.
2. Formal Application: The applicant submits a formal application along with all the required documents, including a police clearance certificate, medical certificate, and investment-related documents.
3. Due Diligence: The government conducts a thorough due diligence investigation into the applicant’s background and source of funds.
4. Approval: If the applicant successfully passes the due diligence process, the government issues a letter of approval.
5. Investment: The applicant proceeds to make the investment in their chosen investment option and provides proof of investment to the government.
6. Passport and Citizenship: Once the investment is confirmed, the applicant is granted St. Lucian citizenship and a passport is issued.

Benefits of St. Lucia Citizenship by Investment

Obtaining St. Lucia citizenship by investment offers several advantages:

1. Visa-Free Travel: St. Lucian citizens enjoy visa-free travel to over 140 countries and territories, including the United Kingdom, Schengen countries, and many other popular destinations.
2. Tax Advantages: Citizens of St. Lucia are not subject to worldwide income taxes. In addition, capital gains and inheritance taxes are not applicable.
3. Inclusion of Family Members: The St. Lucia CBI program allows for the inclusion of family members, such as a spouse, dependent children, and dependent parents.

Processing Time and Program Details

Assuming no issues arise during the application process, the entire process typically takes up to four months from submission to the issuance of the citizenship certificate. However, in exceptional cases, the processing time may exceed three months.

The Citizenship by Investment Board, overseeing specialized Citizenship by Investment Units (CIUs), reviews applications and makes decisions regarding the granting, refusal, or deferral of citizenship for valid reasons.

It’s important to note that the application cannot progress until all the required supporting documents are received. Each application must include the necessary non-refundable processing fees and due diligence fees for the primary applicant, spouse, and each eligible dependent.

Within five years of their initial application approval, already-approved citizens have the option to include additional dependents. Spouses can contribute USD 35,000, while any additional dependents of any age can contribute USD 25,000 each. Additionally, each eligible dependent aged 16 or older incurs a USD 5,000 due diligence fee. The government processing fee for each qualifying dependent is $1,000.

All qualifying dependents must have a clean personal history without any convictions and should not be the subject of any ongoing criminal investigations. Individuals who pose a potential threat to national security or engage in activities that could undermine St. Lucia’s interests are not eligible for citizenship.

Conclusion

The St. Lucia Citizenship by Investment program offers a way to acquire citizenship and a second passport by making a qualifying investment in the country.

With its attractive investment options, favorable tax environment, and visa-free travel benefits, St. Lucia has become an appealing destination for those seeking investment migration opportunities. By adhering to the eligibility requirements and following the outlined application process, individuals can explore the numerous advantages of St. Lucian citizenship for themselves and their families.