The Saint Lucia Citizenship-by-Investment Programme (CIP) is the most recent addition to the citizenship programmes in the Caribbean region. After neighbouring Caribbean countries created and successfully benefitted from their tailor-made Citizenship-by-Investment programmes, Saint Lucia has followed suit and has started receiving applications for the first time in January 2016. Apart from having one of the fastest application processes amongst its peers, Saint Lucia’s Citizenship-by-Investment Programme grants its qualifying applicants the recognition of dual-citizenship, cheaper and vaster investment options and visa-free travel to 127 countries worldwide.
In addition to this, being a relatively new Programme, the Saint Lucia Programme has not attracted the attention that other similar programmes have been subjected to during the last few years. For this reason, when choosing the Saint Lucia Citizenship-by-Investment Programme, one will benefit from added privacy and peace of mind.
Qualifications and General Requirements
The main applicant must:
- Be at least 18 years of age;
- Commit himself to make the established contribution or investment;
- Provide details and evidence of the proposed qualifying investment;
- Meet the application requirements;
- Provide full disclosure on all matters pertaining to the application;
- Be in possession of a clean police conduct;
- Provide proof of an excellent health record;
- Provide proof showing a high personal net worth; and
- Be an individual of any nationality EXCEPT Iraq, Afghanistan, Yemen and Nigeria
The application must be accompanied with the following documents:
For any person included in the application;
- A clean police conduct certificate from the country all the individuals party to the application have resided at in the past 10 years. If the individual has resided in more than one country, a police conduct certificate has to be obtained from all the countries the individual has resided at in the past 10 years;
- Two original birth certificates;
- Two copies of ID cards (or jurisdiction equivalent); and
- Medical certificate including HIV clearance (not older than 3 months).
For the main applicant;
- Curriculum Vitae;
- Income Tax Clearance Certificate ;
- Academic and Professional Clearance Certificates (Certified Copies);
- A certified copy of the Marriage certificate (where applicable); and
- A reference letter from a banker.
All documents, if not in the English language must be translated in English by a certified translator.
CSB Group assists international clients in obtaining citizenship and residency. Contact us for further information or to arrange for an initial personal consultation.
The Minimum Eligibility Criteria
- The main applicant and his dependants need to be cleared of any criminal record and a clean police conduct certificate that is not older than 3 months is to be presented;
- The main applicant or any of his dependants, are not individuals indicted before an International Criminal Court or who appeared at any time before an International Criminal Court;
- The main applicant or any of his dependants, shall not be individuals who, at any time, had pending charges related to crimes of terrorism, money laundering, funding of terrorism, crimes against humanity, war crimes, or crimes that infringe upon such Protection of Human Rights and Fundamental Freedoms;
- The main applicant, or any of his dependants, shall not be individuals who at any time was found guilty, or, at the time of the application, is being interrogated and suspected for any criminal offence;
- The main applicant, along with their qualifying dependants over the age of 16, have to pass due diligence background checks;
- The main applicant and or any of his dependents cannot apply for the Citizenship-by-Investment Programme if they had visa-denial in any one of the countries where Saint Lucia has visa free-travel agreements. A visa from that same country that denied it has to first be obtained to apply for the Saint Lucia Citizenship-by-Investment Programme; and
- The main applicant, or any of his dependants, are not nationals of the Republic of Iraq, Republic of Yemen, Federal Republic of Nigeria or the Islamic Republic of Afghanistan.
Due diligence fee
For the submission of an application, a non-refundable due diligence and background checks fee is applicable as follows:
- $7,500 for the main applicant; and
- $5,000 for every qualifying dependant over the 16 years of age.
The Investment Required
The main applicant has four options through which one may apply to the Saint Lucia Citizenship-by-Investment Programme:
Saint Lucia National Economic Fund Contribution
- The main applicant has to contribute to the Saint Lucia National Economic Fund with a non-refundable contribution of $100,000;
- If the main applicant is applying with a spouse, a non-refundable contribution fee of $165,000 is applicable;
- If the main applicant is applying with a spouse and up to two children, a non-refundable contribution fee of $190,000 is applicable; and
- For every additional dependant other than those mentioned above, a non-refundable contribution fee of $25,000 is applicable. The above amounts are inclusive of all Government fees payable for the main applicant and his or her dependants.
Real Estate Projects
Under this option, the main applicant is required to enter into a binding purchase and sales agreement for an investment in an approved real estate project. Approved real-estate projects fall into two categories:
- High-end branded hotels and resorts; or
- High-end boutique properties.
In addition, the property has to:
- Have a value of not less than $300,000; and
- Be owned for at least 5 years after the contract of purchase.
An individual whose enterprise project in Saint Lucia was approved is eligible to apply for the Saint Lucia’s Citizenship-by-Investment Programme. An enterprise project is deemed as such if it has created at least 3 jobs and falls in either of the below categories:
- Speciality Restaurants;
- Cruise ports and marinas;
- Agro-processing plants;
- Pharmaceutical products;
- Ports, bridges, roads and highways;
- Research institutions and facilities; or
- Offshore universities.
Once an application for citizenship has been approved under this option, the following minimum investment is applicable:
- A minimum $3,500,000 worth of investment for a sole applicant; or
- A minimum $6,000,000 worth of investment in case of a joint venture (with each applicant contributing a minimum of $1,000,000 each)
An applicant may choose to purchase bonds in return to his eligibility to St.Lucia’s Citizenship-by-Investment Programme. The Government bonds purchased under this option give rise to no interest. They are however refunded in full after the lapse of 5 years. Under this option, the following investment is applicable:
- A minimum of $500,000 worth of investment bonds for the main applicant;
- A minimum of $535,000 worth of investment bonds where the main applicant is applying with a spouse;
- A minimum of $550,000 worth of investment bonds where the main applicant is applying with a spouse and up to two children; and
- A minimum of $25,000 worth of investment bonds for every additional applicant other than those mentioned above.
In addition to the above, a non-refundable administration fee of $50,000 is applicable when purchasing non-interest bearing Government bonds.
There is no minimum residency requirement applicable for the main applicant, or any of his dependants with respect to St. Lucia Citizenship-by-Investment Programme. One can directly qualify for citizenship.
After the completion of the application form, supporting documents and the payment of applicable fees, the application process time is approximately 3 months.
For further information about how CSB Group can assist you with the Saint Lucia Citizenship-by-Investment Programme, kindly forward your query to [email protected]