Saint Lucia Covid Relief Bond launched in May 2020
Saint Lucia has just become the first Caribbean Citizenship By Investment program host to announce a Covid-19 Relief Bond that qualifies foreign investors for citizenship. Announced by the country’s Prime Minister and the head of its Citizenship By Investment Unit, the program is intended to attract migrant investors through a reduced-cost bond investment offering.
Find out more about the program here, or contact us now for more information.
About the Saint Lucia Covid Relief Bond investment option
Prospective applicants to the program will be eligible to apply for St Lucia citizenship on the basis of a $250,000 investment in non interest bearing government bonds with a minimum holding period of 5 years.
The COVID-19 Relief Bond features an investment of $250,000, compared to the $500,000 requirement under the country’s regular bond investment program. In addition, the government application fee has been reduced from $50,000 to $30,000, further adding to the program’s appeal, and only becomes payable upon the applicant receiving pre-approval. The previous minimum bond investment requirement was $500,000.
For applicants with a single dependent, the program investment requirement is still $250,000, however the holding period shifts up to a minimum of 6 years.
For up to 4 dependents, the applicant has a choice: Either they can invest $250,000 for a period of 6 years, or they can invest $300,000 for a period of 5 years. Additional dependents can be added for a cost of only $15,000 per person, or the minimum holding period can be increased to 7 years. For applicants with more than 4 dependent co-applicants, an additional $15,000 per person must be invested.
While the program was only announced on 13 May 2020, it is expect that it is going to be highly popular among foreign applicants, and may well pave the way for other Caribbean Citizenship By Investment Programs to launch Covid Relief Fund offerings.
Watch this space for more information, or contact us now to apply…