A tourist hotspot
St. Lucia has been well known to vacationers from North America and the U.K. for decades. Today the teardrop shaped island offers various chiq boutique hotels and expansive all inclusive resorts to accommodate the tastes of thousands tourists who come to St. Lucia from the US, Canada, the UK, and Europe. For individuals who intend to make St. Lucia more than just a holiday paradise, the St. Lucia Citizenship by Investment or the CIP Program offers them a chance to get a second passport.
The island was colonized by French in mid 17th century, but was the subject of constant rivalry with the British. The two European countries were at war 14 times between 1660 and 1810, and the rule of the country changed frequently, bringing a mix of British and French culture to the island. The predominant interest in St Lucia for Europeans lay in its fertile valley. It was the ideal environment for sugar industry development and both the British and French brought enslaved workers to the island from West Africa.
By 1836 when slavery was abolished throughout the British Empire, St. Lucia continued to be a part of British Windward Islands colony. It became an independent state in 1979. Today St Lucia is a member of the United Nations, CARICOM and The Commonwealth of Nations.
Tourism is not the only source of foreign income in St. Lucia, agriculture and offshore finance also add to the country’s relative prosperity in the largely developing Caribbean region.
The culture of Saint Lucia has been influenced by African, East Indian, French and English heritage. One of the secondary languages is Saint Lucian French Creole, spoken by almost all of the population. Together with Caribbean music genres such as Calypso, Soca, Dancehall, Reggae, Compas, Zouk and Salsa, Saint Lucia has a strong indigenous musical tradition.
Since 1991, Saint Lucia has hosted an internationally renowned Jazz Festival. In 2013, the festival was rebranded as The Saint Lucia Jazz & Arts Festival. This annual event encompasses culture, visual art, alternative music, education, fashion and food and is its most famous international event.
St. Lucia introduced its Citizenship by Investment program in 2015. After making significant changes in pricing and policy in early 2017, the program became the most affordable economic citizenship option in the Caribbean.
The program is regulated by Citizenship by Investment Bill of 2015. Its aim is to bring additional foreign investments into the country to vitalize the local economy.
Initially, the country announced four investment routes to citizenship: through donation to the National Economic Fund, purchasing a real estate in an approved project, investing in an approved business, or investing in government bonds. However, only the donation to NEF option is actually available for investors to date, with no real estate or business projects approved by the government.
Dual and lifetime citizenship for you and eligible family members
Tax advantages - No capital gain or estate taxes; income generated outside the country is not taxed
Confidentiality – Information on persons who acquire citizenship is kept completely confidential and is not reported to your present country of citizenship
No Residency – There is no requirement to reside in the country before or after citizenship is granted
Visa-free Travel - With little or no residency requirement, a qualified investor and family members can benefit from numerous privileges including visa-free travel to more than 130 countries.
Any individual wishing to submit an application to the Citizenship by Investment Program must meet the following minimum criteria:
* Be at least 18 years of age;
* Satisfy a minimum qualifying investment in one of the following categories –
* The Saint Lucia National Economic Fund;
* An approved Real Estate development;
* An approved Enterprise project; or
* The purchase of Government bonds
* Provide details and evidence of the proposed qualifying investment;
* Pass a diligence background check along with their qualifying dependents over the age of 16;
* Provide full and frank disclosure on all matters pertaining to the application; and
* Pay the requisite non-refundable processing, due diligence and administrative fees upon application.
The prescribed forms for application under the Citizenship by Investment Regulations of 2015 are as follows:
* Guidelines for Application
* Document Checklist SL1
* Use of Authorised Agent Form SL2
* Statement of Alternative Citizenship SL3
* Investment Confirmation Form SL4
* Citizenship by Investment Application Form SL5
* Photograph and Signature Certificate SL6
* Photograph Guidelines
* Affidavit of Support SL7
* Medical Certification Form SL8
National Economic Fund
The Saint Lucia National Economic Fund is a special fund established under Section 33 of the Citizenship by Investment Act for the sole purpose of receiving qualifying investments of cash for funding government sponsored projects.
The Minister for Finance is required each financial year to gain approval from Parliament for allocation of funds for specified purposes.
Once an application for citizenship by means of an investment in the Saint Lucia National Economic Fund has been approved, the following minimum investment is required: US$100,000 for a an applicant applying alone, US$165,000 for a couple (main applicant + spouse), US$190,000 for main applicant with spouse and up to 2 qualifying dependents, plus US$25,000 per each additional dependent of a main applicant after third.