Saint Lucia, a stunning island country in the Caribbean Sea and part of the Windward Islands of the Lesser Antilles, never disappoints its visitors when it comes to beauty. People who once set foot on this beautiful state get captivated by its mesmerizing views, pristine beaches, and soothing waves, and want to visit this country again. The people living in Saint Lucia are also very welcoming and hospitable.
A major reason behind the country getting popular is the St Lucia citizenship by investment program that attracts many global investors, including high-net-worth individuals who seek second citizenship of a peaceful and stable country as a strategic Plan B for mobility and security. A strong second passport allows these individuals to live and work beyond borders and not just this but also travel seamlessly.
What is the Saint Lucia Citizenship By Investment Program?
Program Overview
Saint Lucia citizenship by investment program was introduced in 2015 to provide global investors with the opportunity to live and work in St Lucia by getting its citizenship. The St Lucia passport costs $240,000 which is less than many other CBI programs costs and provides visa-free access to around 145+ destinations.
The citizens of St Lucia enjoy seamless travel and global mobility, which helps them expand their businesses and enhance their lifestyle. The program allows investors to bring their family members with them and is boosting the economy of St Lucia efficiently by attracting large Foreign Direct Investments (FDIs) from the affluent individuals.
St Lucia Citizenship by Investment Eligibility Requirements
To qualify for the Saint Lucia citizenship by investment program, investors must consider the following eligibility requirements:
The Main applicant must be an adult.
Must meet the investment criteria.
Investment must be held for at least 5 years.
Should be in good health condition.
Must have a clean criminal record.
Must pass the due diligence test.
Why Investors Choose Saint Lucia Citizenship By Investment?
Recent years have been of huge success for St Lucia citizenship by investment program. In fiscal year 2022-23 (FY 22/23), the government of St Lucia received record breaking number of applications, representing a 343% surge by the previous year and the number of St Lucia citizenships granted to the applicants by the government increased by 88%. There are many reasons behind this significant interest of global investors in the St Lucia CBI program. Some of those are as below:
Global Mobility with Visa-Free Access
The St Lucia citizens can travel seamlessly to 145+ destinations without any visa requirement. These key destinations include countries like Hong Kong, Singapore, Malaysia, the United Kingdom and the EU Schengen area consisting of 29 member states. This helps entrepreneurs and business owners manage their work globally by setting up or expanding their brands internationally and also attending foreign meetings and conferences. The visa-free access to well known EU business markets saves the time of investors from waiting for the completion of the application process.
Family Inclusion Opportunity
St Lucia citizenship by investment program allows its investors to bring family members including spouse, dependent parents, grandparents, siblings, and children with them. These family members can be included in the application and can access the healthcare facilities and education in St Lucia. But applicants have to pay some additional fees for family inclusion.
Affordable Caribbean Program
Saint Lucia Citizenship by investment program offers an affordable investment cost of $240,000 compared to many other citizenship by investment programs. This makes it an attractive choice for global investors who seek low cost programs yet also do not compromise on the quality.
Opportunity of Dual Nationality
Saint Lucia citizens can get citizenship of another country without giving up their current citizenship. This provides wealthy individuals with multiple benefits and the major benefit is that they do not have to stay in the country as the Saint Lucia citizenship by investment program does not include any stay requirements.
St Lucia Citizenship By Investment Options
St Lucia provides three options to global investors for qualifying and getting second citizenship of St Lucia.
By Real Estate Investment
Investors can get St Lucia citizenship by investing in St Lucia real estate where the investment starts from $300,000 and allows the main applicant and their dependent family members to get St Lucia’s passport. Additional government fees and due diligence fees also need to be paid by the main applicant.
By Donation to National Economic Fund
This is the most affordable option; it requires investors to donate a minimum $240,000 to a government-approved National Economic Fund (NEF), allowing the main applicant and three dependent family members to get citizenship of Latvia.
By Investment Bonds
St Lucia passport requires a minimum $300,000 for purchasing non-interest-bearing government bonds. This grants citizenship to the main applicant and the dependent family members. However, additional government, due diligence, and state fees are required.
Conclusion
Saint Lucia citizenship by investment is an attractive and compelling choice for global investors seeking global mobility, security, and business opportunities. During increasing instability and economic uncertainty, it is beneficial for investors to get second citizenship of a stable country that provides them with long term benefits.