Caribbean Citizenship by Investment (CBI) programs are some of the more popular routes to a second passport. The island nation of St. Lucia, in particular, has seen a steady influx of applicants to its program since its launch in December 2015.
The CBI program’s popularity among high-net-worth individuals all around the world is largely due to how affordable and efficient the application process is, as well as the advantages that come with holding a St. Lucia passport – including unrestricted global mobility.
But the real question on everyone’s mind is, “How do I become a citizen of St. Lucia?”
This article explores how you can buy citizenship through the St. Lucia Citizenship by Investment program.
In This Article:
- St. Lucia citizenship investment options
- Steps to obtaining a St. Lucia passport
- Benefits of St. Lucia citizenship and passport
- Book a free consultation
St. Lucia Citizenship Investment Options
One of the steps we will cover later in this article is the qualifying investment investors need to complete to be considered eligible for the program. Applicants are required to choose one of three options:
Investors can opt to make a minimum, one-time contribution of USD 100,000 to the country’s National Economic Fund, a Government Escrow Account, which will be used to further develop Grenada’s economy and infrastructure.
2. Real Estate
Investors also have the option to invest in property that amounts to a minimum of USD 300,000 in government-approved real estate projects – including freehold property with title deed, hotel shares, fractional ownership or land – which must be held for 5 years.
3. Government Bonds
The final option available is purchasing government bonds worth USD 250,000 – however, this is a discounted price that is only available until 31 December 2021. From January 2022, the investment amount will revert to USD 500,000. Government bonds must be held for at least 5 years.
Please note: The qualifying investment is not the only cost that will be charged to investors when applying to the CBI program. In addition to the investment, there are government processing fees, professional fees and other costs associated with all options. When using Savory & Partners as your trusted agent, you will be supplied with a fully itemised quotation with no hidden costs.
The investor must know which investment route they want before opening the application. Once they’ve made a choice, the application process can begin.
Steps to Obtaining A St. Lucia Passport
The entire application process consists of a few simple steps and can be processed and completed anywhere from as little as 4 to 6 months at the most. A breakdown of the timeframe is as follows:
Step 1: Pre-Approval
When choosing Savory & Partners as your government-approved agent, we’ll pre-screen a copy of your passport for pre-approval from the government of St. Lucia.
At this point, a down payment of the professional fees is required to open your application, and you can expect a response in 24-48 hours.
Step 2: Prepare Documents
Your authorised agent will aid you in collecting all the necessary documents, prepare all the paperwork during this time, and formally submit your application to the Citizenship by Investment Unit.
Step 3: Submitting Your Application
Your application will then be submitted together with the due diligence fees to the Citizenship by Investment Unit.
If your chosen investment is the real estate option, you’ll need to reserve a property at this time. Please note, that the real estate investment is fully refundable in the unlikely case your application does not get approved.
Step 4: Waiting For Approval
Once completed, the due diligence report will be issued to the government of St. Lucia. Based on the findings in the report, the government will make its decision on your citizenship application.
Step 5: Payments
When your application is approved, you will then be invited to pay the one-time contribution, government bonds amount or settle the balance of your real estate purchase.
Step 6: Tying Up Loose Ends
Before your citizenship certificate and passport are issued, you will need to pay the balance of the professional fees. Upon completion, both your citizenship certificate and passport will then be couriered to you.
Benefits Of St. Lucia Citizenship And Passport
- Unrestricted travel: As a citizen of St. Lucia, investors gain visa-free or visa-on-arrival travel to over 140 countries and territories worldwide, including the United Kingdom, the Schengen Area and Singapore.
- Retirement option: St. Lucia is most people’s idea of an island paradise – so why not reward yourself for all your hard work and spend your golden years here?
- Ultimate insurance: Holding second citizenship in St. Lucia is a great Plan B to put your mind at ease in times of economic or political instability in your home country.
- Ease of Process: The application process is designed to be a smooth and straightforward process, with no interview and education and management experience required to apply.
- Favourable tax policies: St. Lucia imposes minimal taxes, with no taxes on foreign income, capital gains, dividends, gifts, wealth and inheritance.
- Minimal residency requirements: There are no residency requirements for this program.
- Dual citizenship permitted: When obtaining citizenship in St. Lucia, you are not required to renounce your current citizenship(s), and your home authorities will not be notified of your new nationality and passport.
Book A Free Consultation
When seeking second citizenship in the Caribbean, be sure to render the services of an accredited and recognised advisor, like Savory & Partners.
When choosing us as your partner on this journey, you can be assured that you are in safe and capable hands. Savory & Partners is a long-standing and well-respected authorized agent that specializes in helping high-net-worth individuals secure citizenship through investment for themselves and their dependents.
The Savory & Partners team is made up of a diverse group of industry experts who span over 15 nationalities, speak over 25 languages collectively, and come with decades of accumulated CBI and RBI industry experience. Our level of expertise and competence combined with our commitment to serving our clients with the highest level of professionalism and transparency has led us to aid over 1,100 families obtain a second passport with a 100% success rate. There is no one better positioned and more trustworthy than Savory & Partners when seeking the best results on your quest to secure a better future for yourself and your family.
If you would like to apply to the St. Lucia Citizenship by Investment Program or would like to learn more, get in contact with us today for a free online consultation and one of our skilled agents will happily aid you in your enquiry.
We are available on every channel convenient for you.
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