Sail Away With Saint Lucia Citizenship By Investment
The Saint Lucia Citizenship By Investment Program has become a popular choice for investors looking for second citizenship. The program is one of the world’s most affordable and offers access to an economically and politically stable country – the perfect insurance policy for investors worldwide.
Saint Lucia is a sovereign island nation in the Eastern Caribbean Sea known for being one of the most beautiful Caribbean islands.
About Saint Lucia
Saint Lucia is a captivating island of the Lesser Antilles belonging to the Commonwealth, located in the Eastern Caribbean Sea. Saint Lucia is known for its tropical climate and unique natural scenery with breathtaking mountain panoramas and lush rainforests.
As a member of the Commonwealth and CARICOM, Saint Lucia boasts excellent air links to Europe and North America. Its natural beauty, coupled with its unique blend of British and French influences, gives Saint Lucia a distinctive charm that visitors and investors find alluring.
CAPITAL
Castries
POPULATION
183,591
TOTAL AREA
617 km²
CURRENCY
East Caribbean Dollar
Geographical Location and Climate
Nestled northwest of Barbados and south of Martinique, Saint Lucia lies within the Windward group in the Lesser Antilles. The island stretches 27 miles long and has a maximum width of 14 miles. With predominantly volcanic origins, the landscape is characterized by a range of wooded mountains running north to south, the highest peak being Mount Gimie at 3,145 feet.
The climate in Saint Lucia is classified as tropical maritime and benefits from northeast trade winds. Temperature and rainfall vary according to elevation, with average annual precipitation ranging from 51 inches along the coast to as much as 150 inches inland. A dry season typically occurs from January to April, while the rainy season runs from May to November. The mean temperature hovers around 80°F, with occasional highs in the upper 80s and lows in the upper 60s.
Language and Culture
Since gaining independence in 1979, Saint Lucia has cultivated a harmonious blend of British and French cultural influences, which is reflected in its vibrant customs and traditions. English is the official language, allowing for seamless communication in business and travel. However, the local population often speaks Saint Lucian Creole, a French-based Creole language that showcases the island’s rich history and connection with France.
Saint Lucia’s culture also shines through its colorful festivals, such as the Saint Lucia Jazz & Arts Festival and the annual Carnival, which showcase the island’s lively music, dance, art, and cuisine. The island’s rich heritage is further demonstrated through its architecture, with some of the best examples being old plantation houses and charming fishing villages.
Economic Overview
Saint Lucia’s economy is well-supported by a robust legal and commercial infrastructure, a tradition of private-sector entrepreneurial dynamism, and a well-educated workforce. Over the years, the country has developed an efficient and transparent business environment with a more streamlined regulatory framework.
However, access to financing opportunities could be improved to encourage even more private-sector development. Major contributors to the island’s economy include tourism, banana production, and light manufacturing industries. In recent years, substantial foreign investment has been attracted by Saint Lucia’s public infrastructure improvements, along with an emphasis on diversifying from bananas to other commodities. The government has identified growth potential in communications and information technology as a priority for future development.
Why Choose The Saint Lucia Citizenship By Investment Program
FAST ACCESS TO A STRONG PASSPORT
Secure your Saint Lucian citizenship and passport in as little as 90 days. In many cases, the process is completed even more quickly. Your permanent residency card can be issued without the need to visit or reside on the island.
FAVORABLE TAX ENVIRONMENT
Saint Lucia has a relatively low taxation system, including exemptions from paying tax on capital gains, inheritances, global income, and withholding tax for resident companies. This is beneficial for investors, especially those seeking business development opportunities within the country.
VISA-FREE TRAVEL
As a Saint Lucian citizen, you will benefit from visa-free travel to over 148 countries, including all Schengen states, the United Kingdom, and most British Commonwealth member countries. Obtaining most foreign visas will also be quick and easy.
FAMILY SAFETY AND SECURITY
There are no residence or visitation requirements associated with the Saint Lucia Citizenship by Investment Program. Furthermore, applicants can include spouses, dependent children under 31, siblings under 18, and parents aged 55 and over in their application. The program also has a low minimum investment amount of only USD 240,000.
How to Qualify
for the Saint Lucia Citizenship by Investment Program
The Saint Lucia Citizenship by Investment Program presents a remarkable chance for individuals and families to obtain a second passport, granting them the privilege of visa-free entry to a host of global locations. Continue reading to discover everything essential for eligibility in this prestigious economic citizenship scheme, encompassing criteria, avenues for investment, and details on tax obligations.
To qualify for the Saint Lucia Citizenship By Investment program, applicants must:
- Be in good health (and provide proof with a medical certificate).
- Be 18 years or older.
- Must not be the subject of a current criminal investigation unless it is a minor offense.
- Have a clean criminal record.
- Not be deemed a security risk.
- All applicants aged 16 and over must must pass a due diligence check.
- Must not have restrictions or bans on entering the UK, the USA, the European Union, or Canada.
- The spouse of the applicant.
- A child of the applicant or spouse, under 22 years old.
- A child of the applicant or spouse, under 31 years old, financially dependent on the applicant.
- A child of the applicant or spouse, any age, who is physically or mentally challenged and financially dependent on the applicant.
- A parent of the applicant or spouse, over 55 years old and financially dependent on the applicant.
- A parent of the applicant or spouse, any age, physically or mentally challenged and financially dependent on the applicant.
- An unmarried sibling of the applicant, under 18 years old, with parental or guardian consent for the application.
Saint Lucia Citizenship By Investment Options
Saint Lucia offers multiple investment avenues for obtaining citizenship, which include investing in real estate, contributing to the National Economic Fund, engaging in approved enterprise projects, and purchasing government bonds. The minimum donation required to qualify for citizenship by investment is USD 240,000, however the donation is non-refundable. Alternatively, for those seeking a potential return on investment, the minimum real estate investment is USD 300,000. Applicants are required to maintain their investments for a period of five years and must have a clean criminal record.
1. Real Estate Investment
Applicants must invest a minimum of USD 300,000 into high-end boutique properties, or in luxury branded resort and hotel real estate developments. They must also maintain the investment for a minimum of 5 years. Please note that adding dependents will require additional administrative fees, ranging from USD 5,000-15,000, depending on their age and relation to the main applicant (see below).
Additional Fees (Real Estate Option)
| Main Applicant | Spouse | Children under 18 years of age | Children over 16 years of age | |
|---|---|---|---|---|
| Administrative Fee | USD 30,000 | USD 15,000 | USD 5,000 (or USD 10,000 if you have more than 4 dependents) | USD 10,000 |
| Application Processing Fee | USD 2,000 | USD 1,000 | USD 1,000 | USD 1,000 |
| Due Diligence Fee | USD 8,000 | USD 5,000 | USD 5000 (for children above 16 years of age) | USD 5,000 |
| Passport Fee | USD 500 | USD 500 | USD 500 | USD 500 |
2. National Economic Fund (NEF) Donation
Make a non-refundable contribution of USD 240,000 to the Saint Lucia National Economic Fund for a single applicant with up to 3 qualifying dependents.
Each additional spouse/dependent will require an additional investment. For each additional dependent aged 0-17, it will cost an extra USD 10,000 and for dependents aged 18 and above, it will cost an extra USD 20,000. Infants under 12 months old will require an additional USD 5,000. The addition of a spouse requires an additional USD 35,000, while any other qualifying dependents will cost an extra USD 25,000.
Additional Fees (NEF Option)
| Main Applicant | Dependent 18 or below | Dependent 18 or above | Infant under 12 months | Spouse | Qualifying dependents of a citizen other than a spouse | |
|---|---|---|---|---|---|---|
| Additional Investment Requirement | Nil | USD 10,000 | USD 20,000 | USD 5,000 | USD 35,000 | USD 25,000 |
| Application Processing Fee | USD 2,000 | USD 1,000 | USD 1,000 | USD 1,000 | USD 1,000 | USD 1,000 |
| Due Diligence Fee | USD 8,000 | Nil | USD 5,000 (for applicants above the age of 16) | Nil | USD 5,000 | USD 5,000 |
| Passport Fee | USD 500 | USD 500 | USD 500 | USD 500 | USD 500 | USD 500 |
3. Approved Enterprise Project
A single applicant with up to 3 qualifying dependents only has to invest USD 250,000 into an approved enterprise project, along with additional administrative fees. Single applicants with no dependents must contribute a minimum of USD 3.5 million to a sanctioned enterprise initiative and establish a minimum of three long-term employment positions. As an alternative, applicants can contribute jointly a total of USD 6 million (with each investing at least USD 1 million) and generate no less than six permanent job opportunities.
Additional Fees (Enterprise Project Option)
| Main Applicant | Main Applicant and Spouse | Main Applicant with up to 2 Qualifying Dependents | Main Applicant with up to 3 Qualifying Dependents | Additional Children under 16 years of age | Additional Children over 16 years of age | |
|---|---|---|---|---|---|---|
| Administrative Fee | USD 15,000 | USD 20,000 | USD 25,000 | USD 30,000 | USD 10,000 | USD 10,000 |
| Application Processing Fee | USD 2,000 | USD 2,000 | USD 3,000 | USD 4,000 | USD 1,000 | USD 1,000 |
| Due Diligence Fee | USD 8,000 | USD 13,000 | USD 8,000 (plus USD 5000 for each dependent over 16) | USD 8,000 (plus USD 5000 for each dependent over 16) | Nil | USD 5,000 |
| Passport Fee | USD 500 | USD 500 | USD 500 | USD 500 | USD 500 | USD 500 |
4. Government Bond Investment
A single applicant, with the option of adding any number of dependents, must invest in non-interest-bearing government bonds with a minimum value of USD 300,000 and hold them for at least 5 years. All qualifying dependents must also have clean personal backgrounds with no criminal records and should not be under any criminal investigation.
Additional Fees (Government Bond Option)
| Main Applicant | Spouse | Children under 16 years of age | Children over 16 years of age | |
|---|---|---|---|---|
| Administrative Fee | USD 50,000 | Nil | Nil | Nil |
| Application Processing Fee | USD 2,000 | USD 1,000 | USD 1,000 | USD 1,000 |
| Due Diligence Fee | USD 8,000 | USD 5,000 | Nil | USD 5,000 |
| Passport Fee | USD 500 | USD 500 | USD 500 | USD 500 |
Saint Lucia CBI Application Process
Register with NGE
Sign a retainer agreement with Next Generation Equity so we can help with your application process. We are a trusted, government-approved facilitator of Citizenship by Investment programs.
Gather Documents
Work with Next Generation Equity to gather all essential documents. We will ensure that everything is properly arranged.
Submission
Once your documents are ready, we will forward your application to the Saint Lucia Citizenship by Investment Unit (CIU). We will manage all further communications regarding your application.
Interview Process
Each applicant (16 years or above) must attend an interview virtually, in person at Saint Lucia, or at another location approved by the Board of Governors of the CIU.
Review
The CIU will review your application and perform due diligence checks on all applicants. If deemed acceptable, the CIU will send a letter of approval within 60-90 days of receiving the application with the status ‘approval in principle’.
Make Your Investment
If approved, you will receive instructions to make the required contribution or to finalize your property purchase within 90 days. You will need to send proof of this to the CIU. Additionally, you will need to sign an oath or affirmation of allegiance before a notary public, attorney-at-law, or notary royal.
Receive Your Passport
Once the payment is confirmed you will receive your certificate of naturalisation and passport/s within 4 weeks.
Saint Lucia CBI Processing Times
The application process usually takes approximately 90 days from submitting the application to obtaining the certificate of citizenship. Although, the process is usually completed faster than the 90 days. If delays are expected in exceptional cases, applicants will be informed of the reason behind the delay.
Benefits Of Saint Lucia Citizenship By Investment Program
Inclusion of Family Members
Applicants can include their spouses and extra dependents in their applications for additional fees. This way, the entire family can relocate and enjoy the privileges of this second passport.
Favorable Tax Environment
As a Saint Lucian tax resident, you avoid paying any tax on capital gains, inheritances and dividends. Additionally, residents pay tax on royalties and interest at 10% as opposed to non-residents who pay 15-25%.
No Minimum Residency Requirements
Unlike other Citizenship by Investment programs, Saint Lucia does not require successful applicants to stay in the country. Whilst they have the opportunity to visit or live in Saint Lucia, they can reside in their home country whilst reaping the benefits of their new citizenship.
Extensive Travel Rights
A Saint Kitts and Nevis passport grants visa-free or visa-on-arrival access to more than 150 countries, including Hong Kong, Singapore, the United Kingdom, and the Schengen Area in Europe. This benefit of unrestricted mobility allows investors and their families to enjoy hassle-free international travel for both business and leisure purposes.
Dual Citizenship
Saint Lucia allows dual citizenship, which enables investors to keep their original nationality without any legal issues or potential conflicts with their home country.
Lifelong Citizenship
The citizenship granted through the investment program is not only valid for life but can also be passed down to future generations by descent. This ensures a legacy of security and prosperity for your family in the years to come.
Easy to Access
As a member of the Commonwealth and CARICOM, the country enjoys strong air links with Europe and North America.
Access to Long-Stay Visas
Citizens of Saint Lucia have the option to enjoy long stays in many countries, including America, Europe, and Canada. Citizens who want to visit the US can apply for a 10-year multiple entry access B1 Tourist Visa and B2 Business Visa at any US consulate.
Desirable Lifestyle
With its lush rainforests and pristine beaches, Saint Lucia is a great location for owning a second home. The island is famous for its magical beaches, and striking twin peaks which are known as the Pitons. Residents can enjoy the vibrant culture in Saint Lucia, with its African, French, and British influences.
Taxes in Saint Lucia
Saint Lucia offers a relatively straightforward taxation system for individuals and companies alike. To become a tax resident in Saint Lucia, you must reside in the country for at least 183 days per year. We will outline the key aspects of taxation in Saint Lucia for potential expats to understand before making their move.
Individual Tax
In Saint Lucia, expats are taxed based on their residency status. Residents or ordinarily residents are taxed on their worldwide income, while those who are residents but not ordinarily residents pay tax on income earned within Saint Lucia and any income from abroad that is remitted to Saint Lucia. Non-residents are taxed only on income earned and received within Saint Lucia. It’s important to note that Saint Lucia does not apply worldwide income tax to non-residents, unlike the U.S.
The income tax rate in Saint Lucia is calculated using a scaled bracket system, with rates increasing as the value of income increases. The minimum taxable personal income starts at $15,000 East Caribbean Dollars (XCD).
- Income up to $15,000 XCD is taxed at 15%
- Income between $15,001 to $30,000 XCD is taxed at 20%
- Income over $30,000 XCD is taxed at 30%
All individual residents must file their annual taxes through the Inland Revenue Department’s website or in person.
Value-Added Tax (VAT) in Saint Lucia
In Saint Lucia, the standard VAT rate is 12.5% on most goods and services. A reduced rate of 10% applies to the hotel sector. Certain categories like residential rentals, education, finance, insurance, medical services, local transport, and basic food items are exempt from VAT. Companies making less than XCD $400,000 annually are also VAT-exempt.
Additionally, a two-year VAT amnesty has been implemented, offering a complete waiver on related interest, penalties, and fees for arrears up to the 2021 fiscal year. Employees earning up to XCD $2,116 monthly are exempt from Pay-As-You-Earn (PAYE) tax.
Property Tax in Saint Lucia
Property owners in Saint Lucia must pay property taxes annually. The tax levied on residential properties is a modest 0.25% of their fair market value, while commercial properties are taxed at a slightly higher rate, 0.4%.
Below is a list of the land taxes:
- Up to 10 acres: No charge
- Over 10 acres to under 50 acres: $0.25 for each acre or part thereof
- 50 acres to under 100 acres: $0.50 for each acre or part thereof
- 100 acres to under 500 acres: $0.75 for each acre or part thereof
- 500 acres and above: $1 for each acre or part thereof
Stamp Duty in Saint Lucia
A stamp tax is charged on legal or contractual documents. When you transfer or sell real estate in St Lucia, whether you’re a resident or not, you’ll need to pay a 2% stamp duty.
For the conveyance or sale of immovable property:
– If the seller is not a resident, they must pay a 10% stamp duty.
– If the seller is a resident, the stamp duty varies based on the property’s value:
- From XCD 50,000 to XCD 75,000, the rate is 2.5%.
- From XCD 75,001 to XCD 150,000, the rate is 3.5%.
- For values over XCD 150,001, the rate is 5%.
Corporate Tax
In Saint Lucia, corporate tax is applicable on global income for resident companies, taxed at a rate of 30%. Non-resident companies are taxed at 33.3% on profits from a permanent establishment within the country. Income from other sources is subject to a 25% withholding tax. Tax returns must be filed three years after the fiscal year ends. Residency for taxation is based on where a company is managed and controlled.
With no capital gains, inheritance, or wealth taxes, it has become an appealing destination for individuals and businesses seeking favorable tax conditions coupled with a high-quality lifestyle in the picturesque setting of the Caribbean. Stay informed about the local tax requirements, and consult a professional tax advisor if necessary to ensure smooth financial integration into life in Saint Lucia.
Saint Lucia Citizenship by Investment FAQs
What Should I Do if My Child Doesn’t Meet the ‘Qualifying Dependent’ Criteria for Citizenship by Investment in Saint Lucia?
If your child does not meet the criteria for a ‘qualifying dependent’, they will need to apply independently as a ‘principal applicant’, provided they are 18 years of age or older.
Can I Submit My Citizenship Application Directly to the Saint Lucia Citizenship by Investment Program?
No, you cannot submit your application directly. All applications must be processed through a licensed Authorised Agent who will handle the submission on your behalf. At NGE, we are authorized to submit your application for you.
Does Saint Lucia Allow Dual Citizenship?
Yes, Saint Lucia permits dual citizenship. While there are no restrictions on holding dual citizenship in Saint Lucia, it is advisable to check whether your home country also allows dual citizenship if you intend to maintain it.
Can Foreigners Buy Property in Saint Lucia?
Foreigners (non-nationals) are permitted to hold, lease, acquire, or purchase land in Saint Lucia if they obtain an Alien Landholding License.
How Much Does it Cost to Buy Citizenship in Saint Lucia?
The cost of obtaining citizenship through investment in Saint Lucia varies depending on the chosen route. The lowest cost is via a non-refundable donation to the National Economic Fund, with a minimum contribution of USD 240,000 for a single applicant. Other routes include investing in government-approved real estate projects from USD 300,000 and investing in non-interest-bearing government bonds with a minimum value of USD 300,000. Additional fees apply.
Where Can I Take the Oath or Affirmation of Allegiance for Saint Lucia Citizenship by Investment?
A successful applicant is required to sign the oath of allegiance in the presence of an attorney-at-law, a Consular Officer of Saint Lucia, an Honorary Consul of Saint Lucia, or a Notary Royal or Notary Public.
Once I Have Been Granted Citizenship, will the Saint Lucia Citizenship by Investment Program Issue me a Saint Lucian Passport?
No, the Citizenship by Investment Program does not directly issue a Saint Lucian passport upon the grant of citizenship. Instead, they will issue a Certificate of Registration confirming your citizenship. After receiving this certificate, your Authorised Agent, or another person authorized by you, will need to apply on your behalf to the Immigration Department for a Saint Lucian passport.
Can a Foreigner Start A Business in Saint Lucia?
Foreigners can start a business in Saint Lucia, but they must adhere to local laws, regulations, and taxation policies. The business tax rate is 33.3% on income generated within Saint Lucia, and resident companies are required to file their taxes annually.
Which Countries Does Saint Lucia Have Tax and Investment Treaties With?
Saint Lucia has signed tax agreements with the Caribbean Community (CARICOM). There is no signed taxation treaty with the USA, however there is a bilateral Tax Information Agreement. It also has bilateral investment treaties with the UK, Germany, and CARICOM.
