Citizenship by investment is the way to go if you want to diversify investment, be a dual citizen, or enjoy favorable tax policies. Other benefits, like a stable political and thriving business environment, are some of the reasons to choose citizenship in another country.
As dual citizenship increasingly gains popularity, Saint Lucia remains a favorite destination for people looking to acquire dual citizenship. Getting citizenship in St Lucia is easy, provided you meet the requirements. And there are various routes to citizenship in this beautiful nation, including descent and marriage, but the easiest is through investment.
Saint Lucia’s citizenship by investment program is a fair trade of citizenship for an economic investment. But citizenship is not all; it’s a chance to enjoy visa-free travel to more than 146 countries, the option to include your family members and an investor-friendly environment.
To qualify for citizenship by investment in St Lucia, you must meet a set of requirements. That’s what this article is about; read on to find out!
Eligibility Requirements for Citizenship by Investment in Saint Lucia
The application process for St Lucia citizenship by investment is pretty straightforward, especially with the help of a licensed and authorized agent. Nevertheless, the application can only be successful once all necessary documents are verified to meet eligibility standards.
Here are the main requirements that you must pass to be eligible for citizenship:
1. Minimum Age Requirement
The state requires you to be over 18 years old to apply for citizenship. A person who meets this age requirement is considered an adult who can independently make sound decisions about their citizenship.
2. Health Clearance
Applicants should undergo a thorough medical examination to ensure their health is intact. You should be free from high-risk diseases that can pose a threat to fellow citizens.
3. Background Checks
Background scrutiny is another safety check you must pass to be eligible for citizenship. That means you must provide proof of a clean criminal record certified by a government agency in places where you have stayed for at least a year in the last ten years.
4. Minimum Investment
Since you are applying through the investment options, you should be able to provide proof of financial stability, like a bank statement. The amount required will vary depending on the nature of the investment.
5. Family and Dependents
While you can include immediate family members in the application, they, too, must meet specific requirements.
- You must be legally married to your partner.
- Children or dependents need to be under 21 and entirely dependent on you.
- Dependent parents and grandparents, as well as full-time students and persons with disabilities between 21 and 30 years, still qualify.
How Do You Become a Saint Lucia Citizen by Investment?
Citizenship by investment in Saint Lucia is possible in four main ways: investing in real estate, buying government bonds, or contributing to the National Economic Fund (NEF). Let’s explore these options.
1. Donate to the National Economic Fund (NEF)
NEF was created 2015 in St Lucia through the Citizen Investment Act to collect funds for approved government projects. You can qualify for citizenship by contributing at least USD 100,000 to the country’s economic agenda through the provision of funds. However, the donations are not refundable, and the amount to pay depends on the investment tier you are interested in.
2. Real Estate Investment
Real estate investors can qualify for citizenship by investing at least $200,000 in existing or government-approved properties or shares in villas, hotels, or other qualifying real estate properties. Unlike donating to a fund, this option promises returns through capital appreciation or rental income.
3. Enterprise Investment
This type of investment isn’t restricted to real estate; you can invest in approved business projects that create job opportunities in Saint Lucia. You’ll need to afford a minimum of $3.5 Million to qualify for citizenship.
4. Government Bond Investment
The newly launched National Action Bond provides a framework for this special bond not available in other Caribbean countries under the Citizenship by Investment program. St Lucia allows you to become a citizen through this risk-free government bond.
With as little as $300,000 and $50,000 non-refundable administrative costs where applicable, you can invest in government bonds. The bonds should be held for five years to refund interest-free funds upon maturity. In exchange, you get permanent citizenship.
Application Process
Here are the steps to follow:
1. Fill in your application forms, provide all required support documents, and submit them through the Saint Lucia Citizenship Unit.
2. Wait for your application to be reviewed to ensure you meet all the qualifications. It could be over in a few weeks or months.
3. If you pass the checks, your application will be approved and issued a letter guiding you on investing.
4. Once the investment commitment is verified, you will be granted a certificate of citizenship registration and a Saint Lucia Passport as proof of citizenship.
Conclusion
Getting St Lucia citizenship through an investment program is stress-free when you meet all the requirements. Understanding the eligibility criteria prepares you for a smooth process during the application. By following this guide, alongside your due diligence, you should be able to compete to get citizenship successfully.
Be sure to provide all the documents required in original copies, pay the required fees, and attend interviews to unlock a work of investment opportunities that await with a Saint Lucia citizenship.