Castries, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Saint Lucia is a lush and tranquil island brimming with music, art festivals, adrenaline-filled adventures and relaxation on any of the beaches with hidden gems. Tourists are guaranteed memorable experiences throughout their stay.
Celebrities such as Oprah Winfrey, Justin Bieber and Ellie Goulding, have given Saint Lucia the stamp of approval as the must-visit Caribbean Island in the region.
St Lucia has much to offer new and returning tourists, as well as investors seeking flexible business opportunities. For investors seeking to establish themselves in St Lucia, they will have access to business-friendly tax incentives, such as no income, inheritance and wealth taxes, and a strong off-shore banking system.
Investor’s can access these business opportunities via Saint Lucia’s Citizenship by Investment Programme (CIP) which was established in 2016 and has since evolved into one of the most on-demand investment immigration programme. The country’s economy is one of the fastest growing in the Caribbean region and is well known for the investment options offered.
The CBI Index 2022, published by the PMW Magazine of Financial Times, reported that Saint Lucia has become an independent, developed and prosperous country, and its CIP is well as recognised for its “Ease of Processing” and “Due Diligence” pillars. Saint Lucia’s Citizenship by Invesment Unit ensures that citizenship is only granted to good standing applicants, along with rigorous due diligence checks.
Qualifying applicants are required to invest a minimum of US$100 000.00 and acquire citizenship within 90 days. Dual citizenship offers investors global mobility, safety and security of their invested assets and for their families, through extending their citizenship to their spouses and dependants.
The CIP is structured to be of benefit to all stakeholders, including local citizens, investors and their families, and the socio-economy of Saint Lucia.
The CIP launched their “Beond the Passport” campaign in 2022, in an effort to encourage more tourists and investors to make the right choices to build, grow, invest, visit and vacation in the island.
Saint Lucia’s Marketing Officer of the Citizenship by Investment Unit, Miss Tajma Brown stated that “The campaign has now become a foundation pillar of the Citizenship Programme. As Saint Lucia prepares for yet another celebration of the island’s 44th Independence on February 22, 2023, the Citizenship Unit extends an invitation yet again to all CIP-granted citizens to Visit Invest Build Establish (VIBE) with us beyond the passport.”
In December 2022, Saint Lucia’s Minister for Investment, Dr Ernest HIlaire, stated that there are initiatives in place to make Saint Lucia’s CIP is more attractive and competitive in the Caribbean region.
Dr Hilaire and his administration have reviewed the CIP and the investment industry, due to the drastic global changes that have taken place, since the CIP launch in 2016. The Saint Lucian Government can use the CIP as an important resource to address the economic issues.
Dr Hilaire reassured the Government and the CIP Unit that all applicants are qualified after a rigorous due diligence check is applied. Saint Lucia welcomed a record number of applications to date through the CIP and continues to use a stringent due diligence process to ensure minimal risk between the CIP citizens and the Government of Saint Lucia.
Investors that become Saint Lucian citizens are open to global mobility that grants daily flights from Canada, Europe, the US and other countries around the globe. Saint Lucia has much to offer investors through the CIP, whereby investments range from renewable energy, tourism, manufacturing, and agro-processing.
The National Economic Fund (NEF) is the least complicated investment option, as qualifying applicants can submit a contribution US$ 100,000.00 to the government after their application has been approved. All NEF funds are used towards developing the country’s infrastructure and utilities. Due diligence and processing fees apply per applicant.
The Real Estate option allows qualifying applicants to purchase Government-approved property valued from US$200 000.00. The property purchased must be owned and maintained for a minimum of five years, after citizenship has been granted to the main applicant.
The National Action Bond (NAB) was launched on 1 January 2023, and is a non- Government bond option. The qualifying main applicant is required to contribute a minimum of US300 000.00, this investment amount does not change despite the number of dependants included. The bond must be held for a minimum of five years. There is US$50 000,00 towards administration fees.
The Pre-Approved Enterprise Project option allows qualifying applicants to invest independently or jointly. Independent applicants must invest a minimum contribution of US$3.5 million and create three permanent jobs. As for joint applicants, each investor must contribute at least US$1 million, totaling US$6 million and create six permanent jobs. Due diligence, processing and government administration fees applied with this investment option.
Make Saint Lucia your second home by investing in this magnificent country.
