The St Lucia National Economic Fund (NEF) option allows investors to make a valuable contribution to the nation through a non-refundable donation to fund energy and infrastructure development. In return for their donation, eligible investors gain St Lucia dual citizenship and a powerful Caribbean passport that offers improved global mobility with 148 visa free countries.
Overview of the St Lucia National Economic Fund
The St Lucia National Economic Fund (NEF) was introduced under Section 33 of the Citizenship by Investment Act No. 14 of 2015 as an investment route for foreign nationals seeking St Lucia citizenship by investment. The fund requires a non-refundable contribution for investors to qualify for citizenship, and it is the most affordable investment route in the program.
Function of the National Economic Fund
St Lucia’s National Economic Fund (NEF) was created as a central fund to raise capital for financing national development projects across sectors, including:
- Infrastructure
- Healthcare
- Climate resilience and sustainability
- Tourism
- Small businesses
How the Fund Works
Non-refundable contributions sustain the National Economic Fund, which successful applicants make through St Lucia’s citizenship program. The minimum contribution amount varies depending on the number of individuals applying for citizenship.
Management
The St Lucia Citizenship by Investment Unit (CIU) is the designated government authority responsible for overseeing the program and funds collected in through the NEF, as well as purchases of government bonds and investments in approved real estate projects. The CIU ensures donated funds come from legitimate sources and engages with the Ministry of Finance, which determines appropriate distribution.
Here’s how it’s structured:
- CIU receives and processes applications for citizenship.
- CIU carries out due diligence on the origins of the applicant and funds.
- CIU approves the application and donation.
- Ministry of Finance allocates NEF funds to approved development projects.
The CIU maintains detailed records of donations, investments, and disbursements, publishing an annual report of financial summaries to ensure transparency and maintain the program’s integrity.
Eligibility and Application Process
The primary eligibility criteria for applicants is being over 18, having a clean criminal record, and possessing the necessary finances to make the minimum investment contribution. Family members of the principal applicant applying also qualify for Saint Lucia citizenship. Eligible family members include the principal applicant’s spouse, children under 30 or with disabilities, parents and grandparents over 55, and unmarried siblings under 18.
Investment requirement
The minimum investment required for the National Economic Fund (NEF) option is a non-refundable financial contribution of $240,000. This sum qualifies a sole applicant or main applicant and three qualifying dependents for the program, excluding due diligence fees.
To apply for a St Lucia passport for additional qualifying dependents, the main applicant must contribute an extra $10,000 per qualifying dependent under 18 and $20,000 per qualifying dependent 18 and over.
Along with the government fund donation, applicants must pay administrative fees to be granted citizenship, which include a non-refundable administration fee, due diligence fees, processing fees, and passport fees.
Application process
- Choose an Authorized Agent to submit your citizenship application.
- The Agent will prepare your application form and the required documents.
- Your Agent will submit your citizenship application to the CIU
- An independent firm carries on due diligence on behalf of the CIU, including a Caribbean citizenship interview.
- The CIU issues preliminary approval of the application and donation.
- Make a non-refundable contribution to the National Economic Fund.
- Take an Oath of Allegiance to St Lucia and obtain a citizenship certificate and St Lucia passport.
Take a look at our St Lucia Citizenship by Investment Ultimate Guide
Funded Projects and Initiatives
Port Castries expansion: Financed by the Saint Lucia National Economic Fund (NEF) and private investors, the expansion of Port Castries is a $400 million project to accommodate larger cargo and cruise ships to strengthen St Lucia’s standing as a regional shipping hub and cruise destination.
Hewanorra International Airport redevelopment: The $300 million project, funded by the NEF, Export-Import Bank of the Republic of China (Taiwan), and local banks, will expand the runway and terminal at Hewanorra International Airport, equipping the airport to receive more passengers, bigger planes, and longer-range long-haul flights.
St Jude Hospital reconstruction: St Jude Hospital is the primary medical facility servicing residents in the south of St Lucia. The $120 million reconstruction project was funded with a loan from the Saudi Fund for Development (SFD), which will be settled through NEF contributions. The project will add 100 beds, maternity wards, emergency rooms, and surgical suites.
Why use Global Citizen Solutions?
Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.
So, why work with Global Citizen Solutions to obtain St Lucia citizenship?
- Authorized International Marketing Agent. Global Citizen Solutions have official certification by the Government of St Lucia to promote and market their Citizenship by Investment program. You can find a copy of our certificate by clicking the image on the right
- Global approach by local experts. We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean CBI programs.
- 100 percent approval rate. We have never had a case rejected and will offer you an initial, free-of-charge, due diligence assessment before signing any contract.
- Independent service and full transparency. We will present to you all the investment options available, and all expenses will be discussed in advance, with no hidden fees.
- An all-encompassing solution. A multidisciplinary team of immigration lawyers, investment specialists, and tax experts will take into consideration all your and your family's mobility, tax, and lifestyle needs.
- Confidential service and secure data management. All private data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
Frequently Asked Questions about the Saint Lucia National Economic Fund
What is the National Economic Fund in St Lucia?
St Lucia’s National Economic Fund (NEF) is an investment option of the St Lucia citizenship by an investment program, which receives qualifying investments from citizenship applicants. Contributions to the fund a used to improve the country’s socioeconomic development.
How much is the required contribution to the NEF?
Foreign investors must contribute $240,000 to the NEF as a single applicant or main applicant with up to three qualifying dependents. Including a fifth family member or more requires an additional non-refundable contribution.
Is the contribution to the NEF refundable?
Unlike the National Action Government Bonds option, the required contribution required for the NEF is non-refundable. The main difference between an NEF contribution and a St Lucia real estate citizenship investment is that the real estate investment can be sold for a return after five years.
What is the revenue of the Saint Lucia National Economic Fund?
The 2022/2023 annual report produced by the St Lucia Citizenship by Investment Board stated that donations to the National Economic Fund amounted to $41.3 million in revenue.
