Saint Lucia improves CIP’s competitiveness

• Posted on Jan 02, 2017
• In St. Lucia

The government of Saint Lucia has gone through a series of improvements to its program, making it more accessible, reducing the cost and easing the process of applying.

Apart from removing the requirement for a minimum net worth of US$3 million, the government has also waived the annual cap of 500 applicants per year. Another notable easing of the process comes from the removal of the obligation of applicants to take their Oath of Allegiance in person in the respective office in Saint Lucia or before a Saint Lucian Embassy, High Commissioner or Consulate. Instead, applicants can now provide a declaration sworn with an attorney at law, notary royal, notary public, Consular Officer of Saint Lucia or Honorary Consul of Saint Lucia.

In terms of cost, one of the most significant improvement is in the required contribution amounts to the Economic Fund:

• $100,000 donation for a single applicant (down from $200,000).
• $165,000 donation for a single applicant and spouse (down from $235,000).
• $190,000 donation for a family of four (down from $250,000).

In addition, the government bond option has also been reintroduced with an administration fee of $50,000 per application.

The remaining criteria for the program stay the same:

• $300,000 minimum investment in a government-approved real estate project.
• $1 million minimum investment in an approved enterprise project.
• $500,000 minimum investment in government bonds.

The above changes have been in place since January 1, 2017, and make Saint Lucia’s Citizenship by Investment Program as competitive as Dominica’s CIP, where the contribution amount for a single applicant is the same.

For more information, please visit our Saint Lucia Citizenship by Investment page.