Oftentimes, citizens of many countries find it difficult to travel abroad, facing visa restrictions as they try to enter a foreign country. Even if you are granted the required visa, the process tends to be lengthy, and during this time, the passport on which the visa is stamped is not available, which can result in you delaying your trip considerably.
As the world is constantly changing, obtaining alternative citizenship is a sensible investment in the future. While some individuals are fortunate enough to be born with multiple passports, others obtain them later, such as through naturalization or marriage. Citizenship by investment, however, is one of the best ways to get a second passport. In particular, the island nation of St. Lucia has seen a steady influx of applicants for the St. Lucia passport since it launched its Citizenship by Investment program in December 2015.
Why Saint Lucia?
St. Lucia, otherwise known as ‘Helen of the West Indies’, is situated along the eastern shores of the Caribbean Sea and is considered to have one of the most stable political and economic systems in the region. This factor serves to attract foreign business and investment.
St. Lucia lies northwest of Barbados and south of Martinique, in the eastern Caribbean Sea. The volcanic island is mostly covered in rainforest, and is famous for its twin peaks — the Pitons — and its magical beaches. Tourism is its economic lifeline, followed by crop exports and manufacturing. St. Lucia also has excellent air links to Europe and North America, and is a member of the Commonwealth and CARICOM.
The tropical island of St. Lucia offers all the perks of the region while remaining authentic and exclusive. It offers a wealth of luxuries while remaining a haven for travellers. Local hospitality and affordable housing make it a great place for expats to make their home.
How Do You Apply For The St. Lucia Citizenship By Investment Program?
Make sure to consult an accredited and reputable immigration consultant to start your St. Lucia citizenship processing. As a well-respected and government-approved duly licensed firm, Carte Blanche helps high-net-worth individuals and their families acquire citizenship through investments.
One of the steps that investors need to complete to be considered eligible for the program is a qualifying investment. The applicant must choose one of four options:
- National Economic Fund Contribution
A contribution to the NEF organization may be made at one of the prescribed contribution levels by an individual with a high net worth.
US$100,000: Single applicant.
US$140,000: Main applicant with spouse.
US$150,000: Families with up to three dependents (spouse and two children)
US$25,000: Each additional dependent.
US$30,000: Administrative fees.
- Real Estate Investment
Purchases in pre-approved real estate development areas must be valued at at least $300,000. For the property to qualify for the program, it must be owned and maintained for five consecutive years. In addition to the property purchase, property registration, processing fees, and taxes must be paid.
- Government Bond Investment
An applicant and accompanying family may invest in St. Lucia government bonds upon approval. The bonds must be held for five years, and the bond amounts will vary depending on how big the family is.
US$500,000: Single applicant.
US$535,000: Main applicant and spouse.
US$550,000: Families with up to three dependents (spouse and two children)
US$25,000: Each additional dependent.
The government bond option carries an administration fee of US$50,000 per application.
- Enterprise Project Investment
A minimum investment of US$3.5 million is required for an approved enterprise project and at least three jobs must be created. A qualifying investment of US$6 million and six jobs may be shared by two applicants.
What Is The Application Process?
It usually takes no more than four to six months for the application process to be processed and completed. The timeline is outlined below:
Step 1: Prepare Your Documents
Carte Blanche will assist you in collecting all the paperwork necessary, forming your application, and submitting it to the Citizenship by Investment Unit.
Step 2: Submitting Your Application
Once prepared, you will submit the application to the Citizenship by Investment Unit together with the due diligence fees. Choosing real estate as your investment option requires reserving a property at this point. In the unlikely event that your application is not approved, the real estate investment is fully refundable.
Step 3: Waiting For Approval
Once completed, the due diligence report will be handed to the St. Lucian government. Your St. Lucia citizenship application will be decided by the government based on the findings in the report.
Step 4: Payments
Once your application is approved, you will be instructed to pay your one-time contribution, government bonds or real estate purchase balance. Both your St. Lucia citizenship certificate and St. Lucia passport will be mailed to you upon completion.
Book A Consultation With Carte Blanche
If you would like to learn more about the St. Lucia Citizenship by Investment Program or would like to apply for a St. Lucia passport, contact Carte Blanche today for a consultation and one of our expert agents will gladly assist you.