SAINT LUCIA CITIZENSHIP BY INVESTMENT UPDATES
The aim of this page is to provide the most recent updates to the Saint Lucia Citizenship by Investment program. Please do not hesitate to contact us if you need further clarification on any area.
Amendment to Citizenship by Investment Regulations
The Saint Lucia Citizenship by Investment Unit has taken a comprehensive review of CIP Saint Lucia’s offerings and further to the approval of the Citizenship by Investment Board and the Honourable Minister with Responsibility for the Citizenship by Investment Programme, amendments to the existing Regulations will take effect from January 1, 2023 as follows:
1. To include due diligence and background check fee of US$7,500.00 for developers applying for a CIP-approved real estate or enterprise Project;
2. Increase the replacement fee for a lost or damaged certificate from US$100.00 to US$500.00;
3. Increase the investment into the Saint Lucia National Economic Fund for a new-born child of a citizen who is twelve months or below from US$500.00 to US$5,000.00;
4. The introduction of a new Bond Offer for investment by purchase of non-interest-bearing Government Bonds with the following qualifying investment sums:
|Category of Applicant||Bond Purchase Sum||Bond Holding Period|
|Applicant and all qualifying dependents of any number||US$300,000.00||5 Year holding bond|
5. Reduction in the minimum real estate qualifying investment option sum from US$300,000.00 to US$200,000.00.
The above stated arrangements are geared towards making our Programme increasingly competitive and ensuring that we fulfil our mandate of growing demand for our investment products for the ultimate benefit of the people of Saint Lucia.
Please be guided accordingly.
McClaude N. Emmanuel
Chief Executive Officer, Citizenship by Investment Unit
28th December, 2022
Expiration of the “Special COVID-19 Relief Bond” Qualifying Investment
Please be advised that the offer of the “Special COVID-19 Relief Bond” as a qualifying investment will expire on 31st December, 2022 and that no further extension shall be granted for the same. Consequently, you are advised to ensure that the applications of all applicants who opt for the “Special COVID-19 Relief Bond” are submitted to the Citizenship by Investment Unit by 31st December, 2022 at the latest.
Chief Executive Officer, Citizenship by Investment Unit
13th October, 2022
Special COVID-19 Relief Bond Extended Until End of 2022
The Cabinet of Ministers of Saint Lucia has approved the extension of the offering of “The Special COVID-19 Relief Bond” beyond 31st December, 2021 for one (1) more year until 31st December, 2022.
The amendments to the requisite regulations to allow for the extension shall be done shortly and once implemented, the CIP Unit shall be receiving applications for the Special COVID-19 Relief Bond in 2022.
The applicant fees and commission structure for the Special COVID-19 Relief Bond shall continue as presently exists.
Summary of the St. Lucia Citizenship by Investment (Amendment) Act No. 4 of 2020 (June 15, 2020)
REVISED DEFINITION OF QUALIFYING DEPENDANT:
Qualifying Dependant means-
(a) a spouse of the applicant;
(b) a child of the applicant or of his or her spouse who is twenty-one years of age or below.
(c) a child of the applicant or of his spouse who is no more than thirty years of age and who is fully supported by the applicant;
(d) a child of the applicant or of his or her spouse, of any age, who is physically or mentally challenged and who is fully supported by the applicant;
(e) a parent of the applicant or of his or her spouse who is above fifty-five years of age and who is fully supported by the applicant;
(f) a parent of any age who is physically or mentally challenged who is fully supported by the applicant;
(g) an unmarried sister or brother of the applicant who is below eighteen years of age and who has received consent of his or her parent or guardian to make an application for citizenship by investment.
ADDITION OF A DEPENDANT TO AN APPROVED APPLICATION:
For a qualifying investment in cash the Board may grant an application for citizenship by investment to a qualifying dependant after citizenship by investment has been granted to the Main Applicant if the Board is satisfied that the qualifying dependant –
(a) is a child, or legally adopted, after the application was made by the citizen (main Applicant);
(b) is the spouse of the citizen (Main Applicant) and was married after the application was made by the citizen; and
(c) was a qualifying dependant when the application was made by the citizen (Main Applicant) and the application for citizenship by investment was made no more than five years after the application was made by the citizen (Main Applicant).
Spouse – USD 35,000
Qualifying Dependant – USD 25,000
New-born (less than 12 months old) – USD 500
*The addition of a qualifying dependant applies to all Qualifying Investment options.
EXTENSION OF TIME TO MAKE PAYMENT OF ADMINISTRATIVE FEES:
Where an application is approved the Board shall notify the applicant within thirty days of the decision and shall require:
(a) a payment of any other fees within sixty days; and
(b) payment of the qualifying investment within ninety days of the grant of the application,
unless the applicant makes a request to the Board for an extension of the time specified under (a) and (b) above.
Summary of the St. Lucia Citizenship by Investment (Amendment) Regulations No. 73 of 2020 (May 12, 2020)
THE CREATION OF A SPECIAL “COVID-19 RELIEF BOND” OFFER
Important to Note:
– Bonds are non-interest bearing
– Government Processing Fee is waived for all applicants
– The administrative fee payable by the Principal Applicant is USD 30,000
– This qualifying investment option is available until December 31, 2020 (application must be submitted to the CIU no later than Dec. 31, 2020)
Bond Investment Options:
|Description||Bond Amount||Bond Holding Period|
|Applicant applying alone||USD250,000||5 year holding bond|
|Applicant with 1 QD||USD250,000||6 year holding bond|
|Applicant with up to 4 QD||USD250,000||7 year holding bond|
|Applicant with up to 4QD||USD 300,000||5 year holding bond|
|Each QD along with an applicant applying with up to 4QD||USD 15,000|
*QD means Qualifying Dependant
NATIONAL ECONOMIC FUND DONATION AMOUNT
The investment for a Donation to the National Economic Fund is as follows:
|Applicant applying alone||USD 100,000|
|Applicant applying with spouse||USD 140,000|
|Each additional QD (with applicant alone or applicant & Spouse)||USD 25,000|
|Applicant applying with spouse and up to 2 other QD||USD 150,000|
|Each additional QD of a family of four||USD 15,000|
Add-On Dependants (To closed files)
|New-born child of a citizen who is 12 months old or younger||USD 500|
|Spouse of a citizen||USD 35,000|
|Qualifying Dependant||USD 25,000|
WAIVER OF THE NON-REFUNDABLE ADMINISTRATIVE FEE FOR REAL ESTATE PROJECTS
The Board shall have the discretion to waive the administrative fees for the main applicant and their dependent child/children less than 18 years of age; if the qualifying dependent(s) submits to the Board, a letter of acceptance from an educational institution that is established or is to be established within an approved real estate project.