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Second Passport. Saint Lucia Citizenship by Investment

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Saint Lucia is the youngest program among the Caribbean Golden passports. It has started in 2016, but the dynamics of recent years show the interest among foreigners is only growing. The government's program offers several options of investment: government bonds, real estate, government-approved projects or businesses, and donating to the State Fund. The investment threshold is $100,000, and you can get a passport in three or four months after sending the package of documents.

Program features:

  • Only $100,000 minimum capital to participate in the program
  • Passports for the whole family, including children, a spouse, siblings and parents
  • The return on investment in 5-7 years
  • No need to live in Saint Lucia and come for your passport
  • Second passport in 3-6 months without giving up the first one
  • Visa-free travel to 145+ countries including Britain, Hong Kong, Singapore, and the Schengen area
  • Tax optimization for businesses and individuals
  • Strict privacy policy

About the Program

The program has been running since 2016 and it is considered the youngest in the Caribbean. This is a plus: the authorities of Saint Lucia want to stand out in the market, so they regularly simplify the process, make favorable offers and promotions that increase the interest of investors.

At the end of 2019, the authorities issued passports for investments to more than 630 foreigners. Good results, given that only 60 people were granted economic citizenship in Saint Lucia in the first year. Investors from the Middle East and North Africa are most interested in the program.

Some applicants are attracted by the business opportunities of an offshore state, others prefer the freedom to travel around the world (not only 145+ countries without visas, but also access to long-term visas to the United States and Canada). There are applicants that seek for a "spare airfield" for family and capital. For example, a bank account in Saint Lucia guarantees a high level of privacy and security.

The passport applicant is offered several options to choose from:

  • non-refundable contributions to the State Fund,
  • real estate purchases of a specific project,
  • business investments in certain industries,
  • investments in government bonds.

Most options (except for donations to the Fund) presume a return of capital after 5-7 years (the period depends on the number of family members). The entry threshold is $100,000.

The registration procedure is carried out only by an accredited agent (check the approved list) and takes from three to six months. There is no need to give up other passports, and the investor and his family, as well as subsequent generations, retain the right to Caribbean citizenship.

Investment Options
$ 100,000 + $ 300,000 + $ 500,000 + $ 1,000,000 +
The National Economic Fund (NEF) Real estate investment Government securities Business and state projects

Non-refundable investments.

The final amount depends on the number of applicants. You must donate to the NEF of Saint Lucia:

  • $100,000 per applicant
  • $140,000 for a family of two people
  • $150,000 for a family of three or four people
  • $15,000 for each subsequent relative

It is necessary to buy a share worth at least $300,000 in a project approved for investment. These may be top-level hotels and resorts, or boutique hotels.

The property must be owned by the investor for 5 years after obtaining citizenship

Purchase of government bonds with the possibility of capital repayment. After approval of the application you have to pay a non-refundable fee of $30,000.

You can also purchase government bonds for five years for the price of $500,000 or more. Then you can return the capital.

Depending on the family composition, the entry threshold changes:

  • $500,000 for one applicant
  • $535,000 for two applicants (a husband and wife)
  • $550,000 three or four applicants
  • $25,000 for each subsequent dependent

You need to buy a share in approved industries or invest in state projects. For example, restaurants, pharmaceutical companies, infrastructure facilities, research institutions and universities.

Individual investments

  • $3,500,000 +

Joint investments

  • $6,000,000 +
  • From two to six people
  • Share of each - from $1,000,000

The list of projects and companies has not yet been approved by the authorities of Saint Lucia.

Please note!

The option to invest in securities is now supplemented with a temporary option, which is valid from May 12, 2020 to December 31, 2020.

You need to invest at least $250,000 in interest-free government bonds (COVID-19 Relief Bond) with the ability to return them:

- in 5 years for one applicant or a family of four, if they pay an additional $50,000;

– in 6 years for two or three applicants;

– in 7 years for a family of four or more.

Also read: 
Second Passport. Dominica Citizenship by Investment
Second Passport. Saint Kitts & Nevis Citizenship by Investment
Second Passport. Antigua and Barbuda Citizenship by Investment

For Family Members

The authorities of Saint Lucia offer an expanded immigration program. The investor has the right to include in the application the spouse and children, and also brothers, sisters, and parents.

Spouses need to be in an officially documented marriage. Children must be under 30 years old and financially dependent. Parents of applicants must be over 55 years old and financially dependent. Siblings of investors must be under 18 years of age and have a consent of the parent/guardian.

Children and parents with disabilities don’t have any age restrictions.

Please note!

Relatives and children who appeared in the family before applying for citizenship have the right to join the application for an additional fee for 5 years. New spouses, children and siblings can obtain citizenship without time limits.

Requirements for Applicants

To participate in the program, there are no requirements for knowledge of the language, history or culture of the country. The most important thing is to successfully pass a security check and confirm the legal origin of the capital.

Requirements for the main applicant:

  • over 18 years of age;
  • no criminal record;
  • the pass of a background check;
  • legal source of savings;
  • good health condition.

Those who have violated the visa regime with the United Kingdom, Canada, the United States, the EU, currently are under investigation or have committed a criminal offence, can be refused a passport.

You can also be declined, if false information is provided or the authorities consider the candidate to be potentially dangerous to the national security and reputation. The biographies of all applicants over the age of 16 are carefully checked.

Saint Lucia

Documents

All documents must be translated into English by a licensed translator and have an apostille stamp.

Personal documents:

  • the profile of an official representative (authorized agent form – SL2);
  • confirmation of alternative citizenship (statement of alternative citizenship – SL3);
  • the confirmation of the investment (investment confirmation form – SL4);
  • the application for citizenship (citizenship by investment application form – SL5);
  • the passport, birth certificate, marriage certificate, military ID;
  • copies of all pages of current and previous foreign passports;
  • confirmation of the last residential address;
  • registration of a signature (signature certificate-SL6);
  • six photos;
  • autobiography;
  • job references;
  • diplomas;
  • certificate(s) of non-criminal record;
  • medical certification form-SL8;

Financial documents:

  • letter of guarantee for providing financial support to a spouse and children (affidavit of support-SL7);
  • certificates of account status and origin of capital;
  • confirmation of investment (after approval of the application).
Expenses

Verification of trustworthiness

The fee for the main applicant is $7,500.
The fee for all applicants over 16 years of age is $5,000.

Administrative fees

For processing the application:

  • Main applicants – $2,000
  • Every member of the family – $1,000

Lawyer's fee

An accredited agent will request $15,000-50,000 for supporting the procedure of obtaining citizenship, depending on the family composition and the prices of a particular company.

Rights and Obligations

Foreigners with investment citizenship have the same rights as any other resident of Saint Lucia. The investor and his family also have all the rights associated with the state's membership in the Caribbean community (CARICOM).

Rights:

  • to live, work and do business in Saint Lucia and the CARICOM member countries;
  • to make visa-free trips to 145+ countries around the world, including Britain, Hong Kong, Singapore, and the Schengen area;
  • to live in the country without time restrictions and minimum stay requirements;
  • to be a citizen of other countries;
  • to transmit citizenship by inheritance
  • to get a local driver's license;
  • to open a local bank account and register a company.

Responsibilities:

  • to pay taxes regularly, if you spend more than 183 days a year on the islands (there are no requirements for a mandatory change of tax residence);
  • to keep return on investment within five to seven years.

The whole process of obtaining a new passport takes up to 6 months.

Read more about the program here
Photos: pixabay.com

Quoting conditions of Prian.info materials

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