St. Lucia is an exotic island that is walled by the Atlantic Ocean and the Caribbean. If you are fond of unusual places, you have probably heard about the island state. It’s a popular tourist destination with luxury resorts. However, businessmen are interested not only in beautiful villas and the landscape of the country, but also in new financial opportunities. The local government understands this and offers a profitable CBI program.
St. Lucia citizenship by investment program
The program for obtaining a Saint Lucia passport via a financial contribution was established in 1979 and has been regularly updated. The edits of 2015 are currently valid. Application for participation is possible only through an agent specializing in this field. You, as a potential resident, must be a law-abiding citizen and entrepreneur. If you can add some of your relatives to the application, the requirements apply to them as well.
If you want everything done properly, you need to choose a professional migration firm. A team of specialists will calculate risks in advance, notarize, and translate your documents into English, as well as fill out the forms on your behalf.
Contact one of the Migronis offices for advice on the direction of the investment to acquire St. Lucia citizenship. The island government offers 4 contribution options:
- Donation of $100,000 to the economic fund for a single applicant. A family of four should pay around $200,000. The full amount of money is non-refundable.
- Minimum investment of $500,000 in administrative bonds for one person or about $550,000 for a family of four.
- Buying property worth $300,000. Only projects approved by the CBI program are suitable. Migronis specialists will provide you with a list of such items. You can also find them on the official website.
- Contribution of $1,000,000 in a business approved by the Saint Lucia government.
Potential St. Lucia citizens must also pay a government fee and reliability check cost. The final amount varies depending on the number of people wishing to purchase a passport in one application. The term for consideration of candidates is from 5-to-7 months.
Reasons to get St. Lucia economic citizenship
The Caribbean has many CBI countries that compete for the attention of foreign investors. Saint Lucia has one of the most profitable and versatile passports obtaining programs. But that is not all. The island government provides its citizens with comfortable living conditions such as:
- over 140 countries for visa-free visits;
- favorable tax rate;
- financial opportunities for international transactions;
- permission to retain first citizenship;
- the right to obtain long-term residence in the United States and Canada;
- study at prestigious universities for free;
- inheritance citizenship.
An important reason for many entrepreneurs is the possibility of doing business with a high level of privacy. The government supports the confidentiality of its customers and doesn’t open access to their data to external organizations. Only significant reasons and supporting papers can change their position. But this doesn’t eliminate the need for enterprise transparency.
A bit of information about the island
The tropical climate, clean beaches, and exotic landscape make St. Lucia attractive for tourists. Therefore, tourism, as well as the service sector, are the most profitable areas of the local economy. Celebrities and businesspeople regularly visit the country and stay in luxurious hotels or advanced medical centers. Saint Lucia has many mountains, nature reserves, and parks.
Agriculture provides the bulk of exports. The main products for international trade are exotic fruits, coconut oil, cocoa, as well as clothing. The United States, Canada, and neighboring Caribbean countries are the main buyers. On the whole, Saint Lucia’s economy is stable. Experts predict that the economy will remain stable for decades to come.
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