IMI Official Partner
St Lucia’s Citizenship by Investment Program kicked off the new year with a host of changes to their program that make it even more enticing than ever.
The St Lucian government has decided to make its Citizenship by Investment Program more attractive to global investors looking to obtain a second citizenship through a shrewd investment while simultaneously ensuring its viability, scalability, and competitiveness in a market with more citizenship by investment programs than ever recorded.
A lower real estate investment requirement
The first salient change is a price reduction for the program’s real estate option. The government has slashed the minimum investment amount for real estate to US$ 200,000, down from the previous US$ 300,000.
This new price point puts the St Lucian citizenship by investment real estate option on par with the other Caribbean programs of Antigua & Barbuda, Dominica, Grenada, and St Kitts & Nevis.
Investors who choose the real estate option can profit from their investment in the form of dividends or rent throughout the required holding period of five years. At the end of that period, they can resell their shares or property to recoup their initial investment, meaning they get their second citizenship within a few months and get back their money in five years.
New bond option
For the past two years, St Lucia had a COVID Relief Bond option that was extremely popular among investors looking to obtain its citizenship through investment.
The COVID Relief Bond expired on the last day of 2022, but St Lucia did not disappoint: It issued a new government bond option that is exceptionally well-balanced and highly enticing in terms of affordability.
The new bond option requires an investment of US$ 300,000 in non-interest-bearing government bonds, instead of the usual US$ 500,000. Investors must also pay an administrative fee of US$ 50,000, which remains constant no matter how many family members are added to the application. This makes the new bond option an excellent choice for larger families, as it will reduce the cost drastically compared to other investment options.
The investor must hold their investment for five years before they eventually recoup their US$ 300,000 investment.
Immediate citizenship, eventual recouping of investment
The new bond option and the refined real estate option mean that investors and their family members will gain immediate citizenship within three to six months of applying to the program, while they will recoup their initial investment within five years.
The concept of getting a citizenship now while getting back the money after a few years makes the St Lucian Citizenship by Investment Program an extraordinary option for investors looking to boost their global mobility and set up a contingency plan for their families in the form of a second citizenship.
St Lucia’s reputation for being a luxurious Caribbean tourist destination and a robust financial center in the region is only boosted by its magnificent citizenship by investment program, which opens the door for investors and their family members to broaden their horizons and diversify their asset base in a seamless manner.