St. Lucia’s European settlement could be described as contentious—after the French signed a treaty with the native Carib Indians in 1660, they established a colony. The British, however, had other ideas in mind and St. Lucia became a much sought after territory. In total, both France and Britain each ruled St. Lucia no less than seven times in under 200 years until 1814 when the British took definitive control. St. Lucia remained under British control until 1979, when it gained independence, but remained part of the Commonwealth of Nations.
Luckily it’s a lot easier today to stake a small claim to this island paradise thanks to St. Lucia’s government sanctioned Citizenship By Investment Program.
Legislated through Act No. 14 of 2015, St. Lucia’s Citizenship by Investment program is one of the newest in the Caribbean. It has also become one of the most popular. In fact, it became so popular that amendments to the initial act were legislated in January of 2017 which raised the fees, but also removed caps on the amount of applications that can be granted among other things.
St. Lucia offers four areas of investment options:
1. A cash contribution to the St. Lucia National Economic Fund—a special fund established under Section 33 of the Citizenship by Investment Act—for funding government sponsored projects (US$100,000 for single applicant, US$165,000 for applicant and spouse, and $190,000 for applicant, spouse and up to two qualifying dependents)
2. A minimum US$300,000 investment in an approved real estate project like a high-end resort, hotel, or boutique property
3. An investment in an approved enterprise project—US$3,500,000 for a single investor, or a joint-venture investment of a minimum of US$6,000,000 with each applicant contributing a minimum of US$1,000,000 each
4. Purchase non-interest bearing government bonds that must be registered and held for a five year period (US$500,000 for a single investor, US$535,000 for applicant and spouse, and US$550,000 for applicant, spouse, and up to two qualifying dependents)
As for who can apply, the criteria is fairly standard. Applicants must be at least 18 years of age, pass a background and due diligence check, and provide financial disclosure.
For full program details, visit the government run Citizenship By Investment St. Lucia page or contact us for a free consultation.