2023 started with the changes in the St. Lucia Citizenship by Investment program (CIP). They are connected to:
- Government fees
- Minimum investment in real estate option
- New bond option
Let’s see them in more detail:
Changes in Fees
- Due diligence and background check fee for developers applying for a Real Estate or Enterprise Project approval – US$ 7,500.
- Replacement fee for a lost or damaged Certificate of Registration (Citizenship Certificate) – US$ 500 (instead of US$ 100).
- A citizen may add on their newborn dependant to become a citizen of Saint Lucia by making a qualifying investment into the National Economic Fund – US$ 5,000 (instead of US $500). A newborn dependent ranges from 0 – 12 months of age. As a result, due diligence is not required. However, the applicable processing fee of US$ 1,000 is required.
Reduction in the Real Estate investment amount
- Change in real estate qualifying sum from US$ 300,000 to US$ 200,000.
- The non-refundable administrative fee remains unchanged, and it is payable upon the grant of citizenship.
New Government Bond Option
St. Lucia introduced a new government bond option to qualify for Citizenship by investment option: the Government National Action Bond (“NAB”).
Under this option, an applicant and qualifying dependants of any number may opt for the Government Bond option at US$ 300,000. The bond is non-interest bearing with a holding period of five (5) years.
A one-time administrative fee is payable upon the grant of citizenship is applicable – US$ 50,000.
Contact our professionals today to learn more about St. Lucia Citizenship by Investment Program.
