The investment property must meet the requirements of the Citizenship by Investment program, meaning the government must have approved it. After maintaining the investment for five years, you can sell the property and get your investment money back.
Keep reading as we navigate the ins and outs of obtaining St Lucia citizenship through real estate investment.
St Lucia Citizenship by Investment Program
As we mentioned above, St Lucia real estate citizenship is one route by which foreigners can obtain citizenship in St Lucia in exchange for making an economic investment in the country. The St Lucia Citizenship by Investment Program offers three other investment options in addition to making a real estate investment, namely the National Economic Fund, enterprise investment, and government bonds.
1. Real estate
Applicants can invest a minimum of $200,000 in a pre-approved real estate project. The investment must be held for five years before it can be resold.
Single | Applicant | Additional (over 18 years old) | Additional (under 18 years old) | |
Minimum Investment | $200,000 | |||
Government Application Fee | $30,000 | $45,000 | +$10,000 each | +$5,000 each |
Due Diligence Fee | $7,500 | $5,000 for each family member aged 16 or over | ||
Passport Fee | $500 per passport | |||
2. National Economic Fund (NEF)
The National Economic Fund is a government fund established to help provide financial support to projects sponsored by the St Lucia government. Applicants can make a non-refundable contribution of at least $100,000 and receive citizenship. This investment route includes government processing fees, and the contribution amount will vary depending on the number of applicants.
3. Enterprise investment
Foreign investors can choose to invest a minimum of $3,500,000 as a solo investor or a minimum of $1,000,000 as part of a joint venture worth at least $6,000,000. The approved enterprise project can be in any of the following areas:
- Specialty restaurants
- Cruise ports and marinas
- Agro-processing plants
- Pharmaceutical products
- Ports, bridges, roads, and highways
- Research institutions and facilities
- Offshore universities
4. Government bonds
Applicants can invest a minimum of $300,000 in National Action Government Bonds (NAB). The greatest advantage of this investment route is that the contribution amount can be recovered after five years. Despite the fact that these are non-interest-bearing government bonds, the return on investment (ROI) brings the cost of the investment down to around $60,000 for a single applicant.
For more information, visit our article: St Lucia Citizenship by Investment – The Ultimate Guide by Experts.
Benefits of St Lucia Real Estate Investment
- The required minimum investment amount of $200,000 stays the same no matter the number of family members included in your application.
- During the five-year period that you must maintain the investment, you can earn rental yield from your investment.
- St Lucia’s tourist market is well-developed and makes up about 65 percent of the country’s GDP, which is beneficial if you intend to rent out the property.
- The investment property can be resold after five years, meaning you may see a good return on your investment.
- Property prices in St Lucia tend to be lower than in neighboring Caribbean countries.
- This route allows you to obtain citizenship by investing in a tangible asset that you maintain rather than making a donation to a fund that you receive no return on.
- You can include family members in your application, provided they meet the program’s eligibility requirements.
- The minimum investment amount for the real estate citizenship route – $200,000 – is more affordable than contributing to government bonds ($300,000) or making an enterprise investment ($3,500,000 or $1,000,000) and takes the same amount of time to obtain your St Lucia passport.
- When choosing this route, you can still benefit from the attractive tax advantages in St Lucia, such as no income tax, wealth tax, or inheritance tax. For tax residency purposes, you can obtain an address to use for tax purposes.
- You can enjoy all the benefits of being a St Lucia passport holder, such as visa-free travel to over 140 countries, the option to obtain a long-term US visa, and holding dual citizenship.
Government-Approved Projects to Obtain St Lucia Citizenship
As mentioned above, properties purchased as part of St Lucia’s Citizenship by Investment Program must be pre-approved by the island’s government. These are mostly shares in real estate projects, and these properties are carefully selected by the Citizenship by Investment Unit for a number of reasons, such as to promote the best attributes of the island, support St Lucia’s sustainable development objectives, and enhance the country’s economic, technological, environmental, and social transformation.
These approved real estate projects include high-end resorts or hotels, high-end boutique properties, and other projects deemed necessary by the Minister, the CIU, and the Cabinet. An example of an approved project under the economic citizenship program is the Canelles Resort.
Canelles Resort
St Lucia’s Canelles Resort is an approved project under the country’s CBI Program. Located in the southeast coastal area of the island, the resort includes a serviced residence – Canelles Oceanfront Apartment, and two world-class luxury resort hotels that are currently in the works – Zoetry Resort and Dreams Resort. The entire project totals an area of 370,129.55 square meters.
Canelles Oceanfront Apartment
This high-end serviced residence offers fully equipped rooms and suites aimed at providing an exceptional vacation experience. The facility includes a clubhouse, outdoor area, restaurants, a SPA, and more.
Zoetry Wellness and Spa Resorts (Upcoming project)
This facility offers luxurious beachfront boutiques and well-being facilities. You can enjoy an outdoor activity area, SPA center, seaside dining area, and more.
Dreams Resorts and Spas (Upcoming project)
This facility offers unlimited luxury with rooms and suites that provide a romantic vacation environment for couples or family-friendly fun for couples with children. You’ll find a seaside dining area, swimming pool and waterpark area, beach activity area, and more.
As you can see from the facilities described above, approved projects under St Lucia’s CBI Program are truly intended to showcase the best of the island to visitors and promote further tourism and economic growth.
Average real estate prices in St Lucia
St Lucia’s real estate market is thriving, thanks largely to the great number of expats relocating to the island. Real estate prices tend to vary based on a number of factors, such as the location of the property, its size, and what type of property it is.
Properties such as apartments, condos, historical homes, and villas are available to rent and purchase. You’ll be able to find properties such as modern condos and bungalows for around $300,000 and beachfront villas for anywhere around $1,000,000. If you are interested in luxury properties, you’ll find that the cost tends to be higher. It is important to note that if you are a foreigner intending to purchase St Lucia real estate but are not doing so through the country’s Citizenship by Investment Program, you will need to apply for an Alien Landholding License.
Another option is to obtain citizenship in St Lucia through one of the other investment routes mentioned above and then purchase St Lucia real estate. The advantage of this option is that you are free to purchase real estate anywhere in St Lucia rather than being limited to approved projects. In addition to this, you will be purchasing real estate as a citizen of St Lucia, meaning you can still benefit from any favorable tax advantages offered to St Lucia citizens.
Can I rent out my investment property?
An attractive aspect for real estate investors is the option to rent out a property and receive rental income. This is not different for properties purchased under St Lucia’s Citizenship by Investment Program. Real estate rentals in St Lucia can bring in an average of two to five percent in rental income per year.
A further advantage of pursuing real estate citizenship through the CBI Program is your ability to resell the investment property after five years, guaranteeing a decent return on your investment.
Who is eligible for the St Lucia Citizenship by Investment Program?
Main applicant
As per the requirements of St Lucia’s Citizenship by Investment Program, the main applicant must:
- Be over 18 years old
- Have a clean criminal record
- Be of excellent character, as proven through bank statements and employer references
- Be able to make a qualifying investment
Family members
As the main applicant, you can include the following family members in your citizenship application:
- Spouse
- Children of the main applicant or spouse under 21; aged between 21 and 30 if supported by the main applicant or spouse; aged 21 or over and mentally/physically challenged
- Parents and grandparents of the main applicant or spouse aged 55 or above
- Siblings of the main applicant or spouse who are unmarried, with no children, aged 18 or younger, and have received consent for their parent or guardian to apply for citizenship by investment
Costs and Fees When Investing in St Lucia Real Estate
As mentioned, the minimum investment amount for the real estate route is $200,000. This contribution amount is the same whether you are a single applicant or want to include family members such as dependent parents in your application.
In addition to the qualifying investment amount, you will be required to pay the following additional fees: Government application fee, due diligence fee, and passport fee. The table below demonstrates how these fees may vary depending on the number of applicants.
Single | Applicant | Additional (over 18 years old) | Additional (under 18 years old) | |
Minimum Investment | $200,000 | |||
Government Application Fee | $30,000 | $45,000 | +$10,000 each | +$5,000 each |
Due Diligence Fee | $7,500 | $5,000 for each family member aged 16 or over | ||
Passport Fee | $500 per passport | |||
St Lucia Property Taxes
A benefit of being a St Lucia citizen is that you may declare yourself a tax resident on the island and benefit from exemption from capital gains tax, tax on dividends, and sometimes Value Added Tax (VAT) on your foreign earned income. When purchasing real estate, however, you will be required to pay taxes. This section will highlight the taxes charged for real estate purchases in St Lucia, as well as the rates they are charged at.
Property transfer tax
Buyers will need to pay a two percent transfer tax when purchasing real estate. The buyer can be an individual or a company.
Stamp duty
Both buyers and sellers are required to pay stamp duty, however the rates for each will differ. Buyers must pay two percent stamp duty, while the rate a seller pays will depend on their residency status. Non-residents pay a ten percent rate, while residents will pay a rate determined by the value of the property.
Tax rates for St Lucia residents selling real estate
Real estate value (EC$) | Rate |
$50,000-$75,000 | 2.5 percent |
$75,001-$150,000 | 3.5 percent |
$150,001 and above | 5 percent |
Annual property tax
Annual property tax for residential real estate is charged at 0.25 percent, while commercial real estate is taxed at 0.4 percent. These rates are the same for both individuals, companies, residents, and non-residents.
Process of Buying Property in St Lucia to Get Citizenship
If you are eager to obtain St Lucian citizenship by investing in real estate, you can expect to follow the application process outlined below:
Due diligence with GCS
Choose a property
Submit documents to CIU
Application approval
Real estate purchase
Receive your passport
1. Preliminary due diligence check with GCS
Contact Global Citizen Solutions regarding your application for citizenship through real estate investment. We will conduct an initial due diligence and work with you to find the right pre-approved real estate project for you.
2. Choose a property
Once you have chosen your investment property, you will need to complete your application forms and provide all the necessary documentation, as guided by our team.
3. Submit documents to CIU
Our dedicated team of Migration Specialists will submit your application to St Lucia’s Citizenship by Investment Unit (CIU) on your behalf.
4. Application approval
Within two to three months of submitting your application, successful applicants will receive a letter from the Citizenship by Investment Unit stating that your application has been approved in principle.
5. Real estate purchase
Following the approval of your application, you will need to purchase the investment property and send proof to the CIU.
6. Receive your passport
You and your family members will be granted St Lucia citizenship, and your passports will be sent to you to an address of your choice.
It is important to note that applications submitted by individuals directly to the CIU will not be accepted. As an applicant to the CBI program, you must use an Authorized Agent like Global Citizen Solutions to submit the application on your behalf.
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.
- 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.
Keep reading
If you would like to learn more about St Lucia real estate, citizenship by investment, or the Caribbean, the following articles may interest you:
Frequently Asked Questions About St Lucia Real Estate Citizenship
Can foreigners buy property in St Lucia?
Yes, foreigners can buy real estate in St Lucia. As a foreigner, you will need to apply for an Alien Landholding License to buy St Lucia property. Alternatively, you can apply to St Lucia’s Citizenship by Investment (CBI) Program and obtain second citizenship and a St Lucia passport in exchange for investing in a pre-approved property.
What is the St Lucia real estate citizenship program?
St Lucia’s citizenship program enables investors to make a qualifying economic contribution to the country and obtain citizenship. Investing in pre-approved real estate is one route under the program where applicants can make a minimum investment of $200,000 and acquire citizenship. The other investment routes are as follows: A non-refundable contribution to the National Economic Fund, making a government bond investment, or investing in an approved enterprise project.
How much do I need to invest in real estate to obtain citizenship in St Lucia?
The minimum required investment is $200,000 to obtain St Lucia real estate citizenship. The Government application fees, due diligence fees, and passport fees will vary depending on the number of family members (such as dependent children) included in your application.
Can I resell the property I bought through the St Lucia real estate citizenship program?
Yes, you can resell your Citizenship by Investment property after five years.
How long does the application process take?
Your application to the St Lucia CBI Program will take between three and four months to process.
What other fees are involved in the St Lucia real estate citizenship program?
In addition to the minimum contribution amount, which is $200,000 for the real estate route, the following additional fees will apply to your citizenship by investment application: Government application fees, due diligence fees, and passport fees. The cost of these additional fees will vary depending on whether you are a single applicant or want to include family members (such as dependent parents) in your application.
Can I purchase a free-standing house in St Lucia under the citizenship program?
If you want to apply to St Lucia’s Citizenship by Investment Program by investing in real estate, you will need to purchase a property that has been previously approved by the government. Alternatively, you can obtain Saint Lucia citizenship through one of the other investment options and purchase real estate once you are a citizen. This option leaves you free to purchase any type of property.
