Last Chance to Invest in St Lucia COVID Bonds

If you are planning to acquire a second passport from a Caribbean country through Citizenship by Investment, this is your last chance to take advantage of the St Lucia COVID-19 Relief Bond! 

Since 2020 the country has been offering a much more affordable version of their successful St Lucia Government Bond. The minimum investment in COVID-19 bonds is $250,000 (half of the amount for the regular option, which starts at $500,000) in non-interest bearing bonds to be held for a minimum of 5 years. 

The St Lucia COVID Relief Bonds were launched as a temporary measure to boost Saint Lucia Citizenship by Investment program and help the country’s economy recover from the impact of the COVID 19 pandemic on St Lucia’s tourism industry. 

And it worked: the COVID Relief Bonds have been a success, being responsible for a manifold increase in interest by applicants in the bonds option. In the year 2018/19, 65 investors chose this route, almost as many as the 82 investors who chose the real estate option. 

However, not surprisingly for a limited offer, the end is near. More precisely, after 31 Dec. 2022 the St Lucia COVID-19 Bond option will not be available anymore. But there is still time to make your application in the next few weeks, and submit it before the end of the year. 

The St Lucia Citizenship by Investment Unit hasn’t announced any reduction in bonds for 2023, which mean the minimum amount to purchase in Government Bonds will go back to the previous amount of $500,000. Even if the committee decides to offer another reduced scheme, it’s unlikely that you will be able to bag a deal as good as the current COVID relief. 

Get in contact with our experts at Global Citizen Solutions and we will support you in the preparation of a successful – and timely – application. There is still time to invest in Saint Lucia COVID Relief Bonds. 

Benefits of Having a St Lucia Passport

Visa-free travel to over 140 countries, including the European countries in the Schengen Area, the UK, Hong Kong and Singapore Visa-free travel to over 140 countries, including the European countries in the Schengen Area, the UK, Hong Kong and Singapore
Fast processing time: once you submit your application, you and your family can obtain St Lucia citizenship in two to three months Fast processing time: once you submit your application, you and your family can obtain St Lucia citizenship in two to three months
St Lucia citizens don’t have to pay income tax (on worldwide income), capital gains tax, wealth tax, or inheritance tax St Lucia citizens don’t have to pay income tax (on worldwide income), capital gains tax, wealth tax, or inheritance tax
Whole family can be included: spouse, children, siblings (under certain circumstances), parents and grandparents aged 55 or over Whole family can be included: spouse, children, siblings (under certain circumstances), parents and grandparents aged 55 or over

 

Investment Options

Citizenship by Investment programs work by making it possible for investors and their families to obtain citizenship in exchange for a contribution to the development of the country. One of the strong points of the St Lucia Citizenship by investment program is the breadth of investment opportunities. In order to apply for a St Lucia passport, these are the four options to choose from: 

1. National Economic Fund (NEF) Donation

A non-refundable contribution to the National Economic Fund (NEF), a government fund that supports projects underpinning the country’s development. The minimum investment necessary depends on how many family members are included in the application: 

  • Sole applicant: $100,000
  • Main applicant with spouse: $140,000
  • Main applicant with spouse and up to two other qualifying dependents: $150,000
  • Each additional qualifying dependent, of any age: $25,000
  • Each qualifying dependent in addition to a family of four (family includes a spouse): $15,000

Additional costs:

  • Due Diligence: $7,500 for the main applicant plus $5,000 for each qualifying dependent over 16 years of age
  • Processing fee: $2,000 for the main applicant plus $1,000 for each qualifying dependent

2.Pre-approved real estate investment

A minimum investment of $300,000 in real estate in a development pre approved by the government. At the moment there are two developments available for investors: The Saint Lucia Canelles Resort and The Alpina Saint Lucia Hotel & Alpina Square.

Administrative fee (non-refundable):

  • Sole applicant: $30,000
  • Main applicant + spouse: $45,000
  • Additional dependent aged 18 or over: $10,000 each
  • Additional dependent under 18: $5,000 each

Additional costs:

  • Due Diligence: $7,500 for the main applicant plus $5,000 for each qualifying dependent over 16 years of age

3. Enterprise investment Saint Lucia

For those who want to invest in one of seven areas defined by the government, including specialty restaurants, cruise ports and marinas, or pharmaceutical products. 

  • The minimum investment for a single applicant is $3.5 million. In the case of a joint venture, the total investment must be at least $6 million, with each applicant contributing no less than $1 million.

Administrative fee (non-refundable):

  • Sole applicant: $50,000
  • Additional dependent aged 18 or over: $35,000 each
  • Additional dependent under 18: $25,000 each

Additional costs:

  • Due Diligence: $7,500 for the main applicant plus $5,000 for each qualifying dependent over 16 years of age
  • Processing fee: $2,000 for the main applicant plus $1,000 for each qualifying dependent

4. Government Bonds 

These are no-interest bonds that have to be held for at least five years.

Regular St Lucia Government Bonds – Minimum Investment

  • Sole applicant: $500,000
  • Main applicant with spouse: $535,000
  • Main applicant with spouse and up to two other qualifying dependents: $550,000
  • Each additional qualifying dependent, of any age: $25,000 

COVID Relief Bonds – Minimum Investment (available until 31 Dec. 2022)

  • Sole applicant (five-year holding bond): $250,000
  • Main applicant + 1 dependent (six-year holding bond): $250,000
  • Main applicant + up to 4 dependents (seven-year holding bond): $250,000
  • Main applicant + up to 4 dependents (five-year holding bond): $300,000
  • Each additional dependent: $15,000

Administrative fee (non-refundable):

  • $30,000

Additional costs:

  • Due Diligence: $7,500 for the main applicant plus $5,000 for each qualifying dependent over 16 years of age
  • Processing fee: $2,000 for the main applicant plus $1,000 for each qualifying dependent

 

Find out more with our St Lucia Citizenship Ultimate Guide

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About the St Lucia Citizenship by Investment Program

Saint Lucia Citizenship by Investment program, or Saint Lucia CIP, for short, was created in 2015, as a way to contribute to the development of the country and boost the economy. One of the benefits for Saint Lucia passport holders is that they have visa-free access to 140 countries including the EU and the UK. The citizenship program is open to anyone who fills the requirements:

  • Be over 18 years old
  • Make the required investment and provide detailed information and evidence of the respective investment
  • Have an outstanding character
  • Have excellent health
  • Hold no criminal record
  • Pass a detailed background check
  • Pay the required non-refundable processing, a due diligence fee, and administrative fees upon application

If the applicant fills these criteria, they can apply for St Lucia citizenship and include the following eligible family members in the citizenship application:

  • Spouse
  • Children under 21 years old
  • Dependent children aged between 21-30
  • Mentally or physically challenged dependent children and/or parents
  • Parents and/or grandparents aged 55 or above
  • Siblings of the main applicant or spouse, if below the age of 18, unmarried, and who’ve received consent from parent or guardian to apply

The complete application will go through due diligence checks, and if given the all clear, the applicant will make the investment. Be it investing in government bonds, donating to the National Economic Fund, investing in an enterprise in Saint Lucia, or purchasing real estate, once it is complete, the whole family will then receive investment citizenship.

If you don’t want to miss the opportunity to purchase government bonds with a significant discount and obtaining citizenship of Saint Lucia, hurry up!

Frequently Asked Questions:

Is St Lucia COVID safe?

Yes, at the moment COVID figures in St Lucia are low. Since September 2022, the only COVID-related travel requirement is that visitors complete a Health Screening Form before arrival in St Lucia. All other COVID-related pre-travel requirements have been removed.