In January of this year the government of St. Lucia announced changes to its citizenship by investment programme. The remodelled programme is now in direct competition with the Dominica citizenship programme and is currently the most cost-effective of all the Caribbean citizenship programmes approached from the donation standpoint.
The key changes are the following:
- The requirement for an affidavit to declare financial resources of at least US $3,000,000 has been removed.
- The contribution amounts to the Economic Fund have changed. The new qualifying contribution amounts are as follows:
Single Applicant: US$100,000 (Used to be US$200,000)
Applicant with spouse: US$165,000 (Used to be US$235,000)
Applicant with spouse having up to 2 dependents: US$190,000 (Used to be US$250,000)
Additional dependents: US$25,000 each (Same as before)
- The Government Bond Option has been reintroduced and the new administration fee is US$50,000
- The maximum of 500 applications per year has been removed which means more investors are welcome to apply for the program.
The other key criteria remain the same:
- A minimum investment amount of US$300,000 in government approved real estate project.
- An investment in an approved enterprise project starting from $1,000,000
- Purchase of Government Bonds starting at $500,000.
For further information or guidance please contact us to discuss.