Enter your keyword

Saint Lucia Citizenship By Investment Program – Updates

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.

CIP Bond Prospectus Zero Coupon COVID Relief Bond (July 15, 2020)

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).

Donation Amount*:
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:

Description Donation Amount
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)

Description Donation Amount
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.