St. Lucia Citizenship by Investment 2024

St. Lucia Citizenship by Investment Guide

Saint Lucia's program is favoured for its flexibility, relatively low investment thresholds, and the speed at which citizenship can be obtained, typically within 3-4 months. Additionally, Saint Lucian citizenship provides visa-free or visa-on-arrival access to over 145 countries, including the Schengen Area, the UK, and Hong Kong.

Break Front has a team of legal experts that can guide you through the process.

Country Info

Population: Approximately 180,000 (as of 2023).
Economy: St. Lucia’s economy is primarily based on tourism, agriculture (particularly bananas), and financial services. The island is a popular destination for tourists due to its stunning natural beauty, including the iconic Pitons and lush rainforests. The financial services sector, including offshore banking and investments, also plays a significant role in the economy.
Government Type: Parliamentary democracy within the Commonwealth.
Official Language: English, with Saint Lucian Creole (Kwéyòl) widely spoken.
Geographic Position: Located in the Eastern Caribbean, St. Lucia is part of the Lesser Antilles and is situated between Martinique and St. Vincent and the Grenadines.
Currency: Eastern Caribbean Dollar (XCD).
Capital: Castries.
Time Zone: Atlantic Standard Time (AST), UTC -4 (no daylight saving time).
Climate: St. Lucia has a tropical climate, with a wet season from June to November and a dry season from December to May. The island enjoys warm weather year-round

Life Quality Index

As of 2024, the Life Quality Index (LQI) for Saint Lucia is still being compiled, but several key indicators provide insight into the overall living conditions in the country:

Safety Index: 39.08 (Low)
Health Care Index: 49.90 (Moderate)
Property Price to Income Ratio: 0.85 (Very Low)
Traffic Commute Time Index: 7.00 (Very Low)
Pollution Index: 46.22 (Moderate)

Investment options

The Saint Lucia Citizenship by Investment Program offers several investment options for individuals seeking citizenship:

National Economic Fund Donation: This is the most straightforward option, where you make a non-refundable contribution to the National Economic Fund. The required amounts are:
- $100,000 for a single applicant
- $140,000 for an applicant with a spouse
- $150,000 for a family of four (including up to two children)
- $25,000 for each additional dependent
Real Estate Investment: Purchase government-approved real estate with a minimum value of $200,000. The property must be held for at least five years. Additionally, a government administrative fee of $50,000 applies.
Enterprise Projects: Invest in an approved enterprise project, which could range from specialty restaurants to infrastructure projects. The minimum investment is:
- $3.5 million for a single investor (creating at least three jobs)
- $6 million for a joint venture (with each investor contributing at least $1 million and creating at least six jobs in total)
Government Bonds: Invest in non-interest-bearing government bonds. The minimum investment amount is $500,000 for a single applicant, with a holding period of at least five years. This option offers a secure investment, as the bonds are backed by the government.

Each of these options allows investors to contribute to Saint Lucia's economic development while gaining citizenship, which includes benefits like visa-free travel to over 145 countries

Required documents

To apply for Saint Lucia's Citizenship by Investment program, you'll need to prepare the following detailed documents:

Valid Passport: Notarized copies of the passport (including all pages) for the main applicant and each dependent.
Birth Certificates: Certified copies of birth certificates for all applicants, translated into English if necessary.
Marriage Certificate: If applicable, provide a certified and translated copy of the marriage certificate.
Police Clearance Certificate: A police clearance certificate from your home country and any country where you have lived for more than a year within the past 10 years. This document must be less than six months old.
Proof of Funds: Detailed financial statements showing the source of the funds for the investment. This can include bank statements, proof of income, or evidence of business ownership.
Medical Report: A comprehensive medical examination report, including an HIV test result, which must be less than three months old.
Passport-Sized Photos: Recent photographs of all applicants, meeting specific size and background requirements.
Investment Confirmation: Documentation proving that the required investment has been made, such as a bank receipt or real estate purchase agreement.
Due Diligence Forms: Completed due diligence forms as required by the Citizenship by Investment Unit, including detailed personal and financial histories.
Affidavit of Support: For dependents over 18, an affidavit of support showing financial dependency on the main applicant.
Proof of Address: Utility bills or other documentation to confirm the current residential address of the main applicant and dependents.
Application Forms: Completed and signed application forms provided by the Citizenship by Investment Unit.

Each document must be properly legalized (apostilled) and translated into English if not originally in English. Additionally, certain documents, like the police clearance and medical reports, have specific validity periods, so timing is crucial during the application process.

Eligibility criteria

To be eligible for Saint Lucia's Citizenship by Investment program, applicants must meet the following detailed criteria:

Age Requirement: The main applicant must be at least 18 years old.
Investment: Applicants must make a qualifying investment in one of the approved options, such as a donation to the National Economic Fund, real estate purchase, government bonds, or enterprise projects.
Clean Criminal Record: The main applicant and all dependents over 16 must provide a police clearance certificate from their home country and any other country where they have resided for more than a year within the last 10 years. This must confirm no criminal record.
Health Requirements: Applicants must undergo a medical examination and provide a health certificate, including an HIV test, which must be negative and less than three months old.
Financial Stability: Applicants must provide evidence of financial stability, including proof of the source of funds used for the investment. This includes bank statements, income statements, and other relevant financial documentation.
Dependents: The program allows for the inclusion of dependents, such as a spouse, children under 18, and children between 18-25 who are financially dependent on the main applicant and studying full-time. Dependent parents over the age of 65 can also be included.
Due Diligence: All applicants must pass a thorough due diligence process, which includes background checks to verify the integrity, financial standing, and character of the applicant.
Residency: While there is no physical residency requirement, applicants must visit Saint Lucia to complete certain parts of the application, depending on the investment option.

These criteria ensure that applicants are of good character, financially capable, and able to make a meaningful contribution to Saint Lucia's economy.

Benefits for choosing St. Lucia

Choosing Saint Lucia's Citizenship by Investment program offers several compelling advantages:

Affordable Investment Options: With a minimum contribution starting at $100,000, it’s one of the more accessible programs in the Caribbean.
Speed of Process: The application process is relatively quick, typically taking 3-4 months to obtain citizenship.
Global Mobility: Saint Lucian citizenship provides visa-free or visa-on-arrival access to over 145 countries, including the Schengen Area, the UK, and Hong Kong.
No Residency Requirement: There’s no need to reside in or visit Saint Lucia during the application process, offering flexibility for investors.
Family Inclusion: The program allows for the inclusion of a spouse, children, and dependent parents, making it suitable for families.
Stable and Peaceful Environment: Saint Lucia offers a safe, stable, and high-quality lifestyle, ideal for those seeking a serene living environment.

These factors make Saint Lucia’s program a strategic choice for individuals seeking a second citizenship with a range of lifestyle and financial benefits.

Government fees

When applying for Saint Lucia’s Citizenship by Investment program, several government fees must be considered in addition to the investment itself. Here’s a detailed breakdown:

Processing Fees:
- Principal Applicant: $2,000
- Each Qualifying Dependent: $1,000
Due Diligence Fees:
- Principal Applicant: $7,500
- Each Dependent Over 16 Years Old: $5,000
Non-Refundable Administration Fees (applicable for real estate or enterprise project investments):
- Principal Applicant: $50,000
- Each Dependent (18 years and older): $35,000
- Each Dependent (under 18 years old): $25,000

These fees are mandatory and are separate from the investment itself, covering the cost of processing the application, conducting due diligence, and other administrative expenses. It's crucial to budget for these fees when planning your application

Tax system

When acquiring citizenship through Saint Lucia's Citizenship by Investment program, there are several tax implications to consider, both within Saint Lucia and potentially in your home country. Here’s an overview of the key tax aspects:

1. No Global Income Tax:

Saint Lucia does not impose taxes on global income, capital gains, or inheritance for individuals who become citizens through the investment program. This makes it an attractive option for those seeking to optimize their tax liabilities.

2. Local Income Tax:

If you earn income within Saint Lucia, such as from rental properties or local businesses, it will be subject to Saint Lucia's income tax. The income tax rates in Saint Lucia are progressive, ranging from 10% to 30% depending on the amount of income earned.

3. Value Added Tax (VAT):

Saint Lucia has a VAT system in place. The standard VAT rate is 12.5%, which applies to most goods and services. Some items, such as basic foodstuffs and educational materials, may be exempt or subject to a reduced rate.

4. Property Tax:

Property owners in Saint Lucia are subject to an annual property tax. The rate is based on the market value of the property, typically around 0.25% of the property’s value.

5. Withholding Tax:

Saint Lucia imposes a withholding tax on dividends, interest, and royalties paid to non-residents. The standard rate is 25%, but this may be reduced if there is a tax treaty in place between Saint Lucia and your country of residence.

6. Stamp Duty:

There is a stamp duty payable on the purchase of real estate in Saint Lucia. The rate varies but is generally around 2% of the property’s value.

7. Treaties:

Saint Lucia has tax treaties with several countries, which can help prevent double taxation on income. It’s advisable to consult a tax professional to understand how these treaties might benefit you.

While Saint Lucia offers several tax advantages, it’s important to consider the tax laws of your home country, as obtaining a second citizenship might have implications there as well.

Why choose Break Front?

Global expertise with local insight: A team of seasoned local case executives, immigration lawyers, and investment specialists.

Independent service: We are not affiliated with any marketing agencies or specific projects. You’ll have access to all eligible Golden Visa options, allowing you to choose the best path for your needs, supported by the legal due diligence services of a reputable law firm.

High approval rate: We pride ourselves on our high approval rates while having successfully assisted hundreds of clients from over 25 countries.

Comprehensive support: Our dedicated onboarding and immigration teams guide you through the entire process, providing a seamless experience with a single point of contact.

Transparency: Our fees are clearly outlined and comprehensive, with no hidden costs involved in the entire process.

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