One can acquire citizenship of St. Lucia, which is renowned as "the best honeymoon destination in the world," by making an investment in the country, with a minimum starting amount of $100,000. St. Lucia's Citizenship by Investment Program provides four investment options: making a donation to a national fund, purchasing real estate, investing in government bonds, or investing in a business enterprise.

The graph below shows the number of applications received by Saint Lucia's CBI program each year since 2015:

The graph shows that the number of applications received by Saint Lucia's CBI program has been increasing steadily each year. This trend is likely to continue, as the program continues to grow in popularity.

Meaning of Citizenship by investment

Citizenship by investment programs, also known as economic citizenship or golden visa programs, allow foreign investors to obtain citizenship of a country by making a contribution to the nation's development. Typically, this involves either donating funds to support government projects or making a real estate investment.

Some countries offer additional investment options. For instance, the St. Lucia citizenship program provides the choice of purchasing government bonds or establishing a business enterprise. Citizenship acquired through these programs can be extended to family members and remains valid for life, with the ability to pass down to future generations.

Throughout the application process, all submitted documentation undergoes a thorough due diligence procedure. This step is crucial in citizenship by investment applications as it ensures the verification of the applicant's identity, financial profile, and security profile, as well as those of all family members aged 16 or older. A robust due diligence process is essential to ensure the credibility and long-term viability of a citizenship by investment (CBI) program.

Advantages of the St Lucia Citizenship by Investment Program

The St. Lucia Citizenship by Investment Program offers numerous benefits:

Exceptional Tax Benefits

St. Lucia citizens enjoy an appealing tax environment, as there are No personal income tax on global income, No wealth or inheritance taxes, No capital gains tax,Territorial tax system for non-resident citizens and No taxation on foreign income even if remitted to St. Lucia.

Swift Application Process

 The St. Lucia Citizenship by Investment Program offers a swift and efficient application process for individuals seeking citizenship through investment. By submitting accurate and complete documentation, undergoing due diligence checks, and meeting program requirements, applicants can expect a timely decision on their citizenship application.

 No Residency Requirements

The St. Lucia Citizenship by Investment Program does not impose strict residency requirements for obtaining citizenship. Applicants can acquire citizenship solely through a qualifying investment, providing flexibility for those who do not wish to relocate or spend extended periods of time in St. Lucia.

Inclusion of the Whole Family

The Program allows for the inclusion of the entire family, including the spouse, dependent children, and in some cases, dependent parents or grandparents. This makes it an attractive option for those seeking citizenship for their family members. By including the whole family in the application, they can collectively acquire St. Lucian citizenship and enjoy the associated benefits and privileges.

No Required Tests

It does not require applicants to undergo any tests related to language proficiency, knowledge about the country, or other similar assessments. The program primarily focuses on the financial investment aspect and conducts due diligence checks to verify the credibility and suitability of applicants.

Visa-Free Travel

 St. Lucia Citizenship by Investment Program offers valuable visa-free travel benefits to its citizens, providing enhanced global mobility and access to numerous countries without the need for a visa. While the exact list of visa-free or visa-on-arrival countries may vary, St. Lucian citizenship can grant access to destinations within the European Union, the United Kingdom, the Schengen Area, the Caribbean region, and other popular travel destinations worldwide.

In an uncertain world with unpredictable economic and political landscapes, obtaining a second citizenship provides opportunities and flexibility for you and your family.

Disadvantages of the St Lucia Citizenship by Investment Program

While the St. Lucia Citizenship by Investment Program offers numerous benefits, there are also some potential disadvantages to consider:

 High Financial Requirement

The program requires a significant financial investment, starting at $100,000. This amount may be prohibitive for some individuals who are unable to meet the minimum investment threshold.

 Limited Return on Investment

Depending on the chosen investment option, the financial returns or profitability may vary. For instance, investing in government bonds may offer lower returns compared to other investment options, potentially affecting the overall financial gain from the program.

Real Estate Market Risks

Investing in real estate can be subject to market fluctuations and uncertainties. The value of the property may not appreciate as expected, potentially resulting in a lower return on investment or difficulty in selling the property in the future.

Processing Time

The application process for obtaining citizenship through the program can be time-consuming and lengthy. It may take several months or even years to complete, delaying the benefits of acquiring St. Lucian citizenship.

 Additional Costs

Apart from the initial investment, there are various additional costs associated with the program, such as government fees, due diligence fees, legal expenses, and ongoing maintenance costs for the investment. These costs can add up significantly and impact the overall financial commitment.

Potential Risk Perception

Some individuals may view citizenship acquired through investment programs as less prestigious or desirable compared to traditional citizenship obtained through birth or naturalisation. This perception could have implications in terms of personal and professional opportunities, as well as societal acceptance.

It is crucial to thoroughly research and assess these disadvantages, along with the advantages, to make an informed decision before participating in the St. Lucia Citizenship by Investment Program.

What are the Reasons for choosing St Lucia?

St. Lucia, located in the eastern Caribbean, is a captivating island nation in the West Indies. Throughout its history, St. Lucia has experienced a rich blend of French and British rule, leading to its nickname "Helen of the West" in reference to the legendary figure Helen of Troy.

Following several shifts in control, the British gained full authority over St. Lucia in 1814. While English serves as the official language, the French-influenced St. Lucian Creole is widely spoken on the island.

Covering a total area of 617 square kilometres, St. Lucia boasts remarkable natural features. The iconic Pitons, two majestic volcanic plugs, stand as the island's most renowned landmark. Additionally, St. Lucia is home to the world's only drive-in volcano, the Sulphur Springs. Off the coast, there are various smaller islands, with the Maria Islands being the largest and situated in the southeast of the main island.

St. Lucia, the recipient of prestigious titles like "The World's Leading Honeymoon Destination" and "The Caribbean's Leading Adventure Tourism Destination," boasts an array of captivating features. From stunning beaches and lush rainforests to volcanic springs, the island offers an irresistible allure to travellers worldwide.

Tourism serves as the primary source of employment and income in St. Lucia, contributing approximately 65%to its GDP. Following the impact of the pandemic, the tourism industry has been steadily recovering. Although visitor numbers have yet to reach the pre-pandemic levels of 1.3 million recorded in 2019, the United Nations World Tourism Organization (UNWTO) reports a promising trend. In July 2022, visitor arrivals for the Caribbean were nearly on par with those in July 2019, experiencing only a 5% decrease.

Traditionally, tourists from the United States constitute over 50% of visitors, while the United Kingdom represents the second-largest group, accounting for 30%. St. Lucia boasts excellent global connectivity, offering direct flights to key destinations such as London, Toronto, and several cities in the United States, including Miami, New York, Chicago, Boston, and more.

Qualified members that can obtain St Lucia Citizenship

Eligibility for St. Lucia citizenship under the Citizenship by Investment Program is determined as follows:

Main Applicant:

- Must be at least 18 years old

- Must have a clean criminal record

- Must possess a reputable character, which can be demonstrated through bank statements and employer references

- Must be able to fulfil the qualifying investment requirement

Family Members:

The following family members can be included in the application and obtain lifelong St. Lucia citizenship:

- Spouse

- Children of the main applicant or spouse who are under 21 years old

- Children between the ages of 21 and 30, if financially dependent on the main applicant or spouse

- Children aged 21 or above who are physically or mentally challenged

- Parents and grandparents of the main applicant or spouse who are 55 years of age or older

- Siblings of the main applicant or spouse who are unmarried, under 18 years old, and without children, provided they have obtained consent from their parent or guardian to apply for citizenship by investment.

At Global Citizen Solutions, we offer a complimentary initial pre-due diligence assessment to ensure the success of your application even before signing the contract with us.

Investment options to choose from to qualify for St Lucia Citizenship

To qualify for the St. Lucia Citizenship by Investment Program, you have four investment options to choose from:

1. National Economic Fund (NEF)

 By making a non-refundable contribution to the NEF, you can invest in government-sponsored projects and receive citizenship. The minimum contribution amount varies based on the number of family members included in the application. This option is straightforward, affordable, and does not involve government fees.

2. Real Estate

Investing in pre-approved real estate properties in St. Lucia is another option. The minimum investment is $200,000, and the property must be held for a minimum of five years before it can be resold. This option is advantageous as property prices in St. Lucia are generally lower than neighbouring countries.

3. Enterprise Investment

You can invest in local business enterprises in sectors such as specialty restaurants, cruise ports, agro-processing plants, and more. As a single investor, the minimum investment is $3,500,000, or you can participate in a joint venture worth at least $6,000,000 with each person contributing a minimum of $1,000,000.

4. Government Bonds

 This option involves purchasing $300,000 in non-interest-bearing National Action Government Bonds (NAB). After five years, the bonds can be fully recovered.

Each investment option has associated fees, including government fees, processing fees, due diligence fees, and passport fees. The amounts vary depending on the applicant's circumstances and the number of family members included in the application.

Steps followed to acquire the Citizenship

When opting for the St. Lucia citizenship by investment program, Global Citizen Solutions will provide expert guidance through the following step-by-step process to acquire your second passport:

• Select your investment route: Choose the most suitable investment route among the four options available: non-refundable contribution to the National Economic Fund (NEF), investment in pre-approved real estate projects, enterprise investment, or government bond purchase.

• Collect documents and complete application forms: Gather all required documents and diligently complete the application forms provided by Global Citizen Solutions.

• Submit your application through GCS: Your designated Investment Migration Specialist will handle the submission of your application on your behalf*.

• Obtain approval from the Citizenship by Investment Unit (CIU): Typically, within 60-90 days of application submission, you will receive a confirmation letter from the CIU stating the status of your application as "approved in principle."

• Make your investment and provide confirmation: Proceed with making the chosen investment and provide the necessary evidence of the transaction to the CIU.

• Attain St. Lucia citizenship: Upon successful completion of the process, you and your family will be granted St. Lucia citizenship, and your passports will be delivered to an address of your preference.

By following these steps with the assistance of Global Citizen Solutions, you can navigate the St. Lucia citizenship by investment journey smoothly and effectively.

St Lucia Taxation

Residents and citizens of Saint Lucia benefit from a favourable tax environment, as there are no capital gains, inheritance, or wealth taxes imposed on worldwide income or assets.

However, it is important to consider certain local tax considerations. Residents of Saint Lucia are subject to Personal Income Tax (PIT) based on their domestic activities. Non-residents are only taxed on income derived from local sources. Additionally, there is a property tax of 0.25% based on the market value of housing. Non-resident buyers of real estate in Saint Lucia must obtain a land ownership licence and pay 7.5% of the property value.

Key considerations include:

PIT Scale:

- Up to 10,000 East Caribbean Dollars (XCD): 10%

- 10,000 to 20,000 XCD: 15%

- 20,000 to 30,000 XCD: 20%

- Over 30,000 XCD: 30%

The minimum non-taxable PIT for individuals is 18,000 XCD.

Company and Wages:

- Companies registered in Saint Lucia pay corporate income tax at a minimum rate of 1% (with some cases applying a zero rate) or an annual licence fee based on the company's charter capital.

- Wage earners are required to contribute 5% of their salary to the social security fund, with a maximum cap of 5,000 XCD.

VAT Payment Terms:

- The Value Added Tax (VAT) rate is 15%, except for hotel businesses where a reduced rate of 8% applies.

- Registration for VAT payment is mandatory if the total annual cost of supplies exceeds the threshold of 180,000 XCD.

These tax considerations provide an overview of the tax system in Saint Lucia, and it is advisable to consult with a tax professional or advisor for personalised guidance regarding specific circumstances.

Frequently asked questions concerning Saint Lucia citizenship by investment

What is the comparison between St Lucia citizenship by investment and the other investments?

The St. Lucia Citizenship by Investment Program offers four different investment options: donation to a national fund, real estate investment, government bonds, and business enterprise investment. Each option has its own benefits, risks, and requirements. It is essential to assess personal goals, financial circumstances, and risk tolerance to determine the most suitable investment choice within the program.

How does one become a citizen of St Lucia?

 Becoming a citizen of St. Lucia can be achieved through various pathways such as citizenship by descent, citizenship by birth, citizenship by naturalisation, or citizenship by investment. Each option has its own set of requirements and application processes. To ensure a successful application, it is recommended to seek guidance from immigration lawyers or authorised agents who specialise in St. Lucian citizenship, taking into account your specific circumstances.

How long does it take to acquire a citizenship by investment?

The processing time to acquire citizenship by investment in St. Lucia typically ranges from three to six months, depending on various factors. However, it's important to note that processing times can vary, and it's recommended to consult with authorised agents or professionals familiar with the program for the most accurate and up-to-date information regarding processing times and potential factors that may impact the timeline.

Is Saint Lucia a good investment?

Yes. Investing in Saint Lucia can present potential benefits, particularly in the tourism and real estate sectors, supported by the country's economic stability and infrastructure development. However, it is crucial to conduct thorough research, assess risks, and seek professional advice to make informed investment decisions. Consulting with financial advisors, legal professionals, or investment experts who have expertise in Saint Lucia is recommended to evaluate specific opportunities based on individual circumstances and investment goals.