Launched in 2015, the St Lucia investor passport program is one of the youngest CIPs in the world. Regulated under the Citizenship by Investment Bill of 2015, the program offers foreign nationals the ability to obtain St Lucian citizenship by making an eligible investment or a government donation. Designed to stimulate economic growth and aid in job creation the program seeks to attract high net worth individuals and families from across the globe.
By as early as 2019, over 630 economic passports were issued to new St Lucian citizens under the program, raising approximately $40 million in revenues for the St Lucian government.
Key program benefits include the ability to travel visa-free to over 140+ countries worldwide, including the UK, Singapore and the EU Schengen area. The entire process, including the citizenship ceremony and passport issuance, can be completed in as little as 3 months (but typically takes 4 months).
There are no requirements for language proficiency, cultural knowledge, minimum stays or physical residency, and the application process can be completed remotely. In addition, the country’s friendly taxation regime appeals to individuals seeking to optimize their tax obligations. With a view to remain competitive against other Caribbean CBIs, the program recently dropped its high net worth requirement with a view to make the program more accessible to an upper middle-class clientele.
While the program has proven to be very popular among wealthy Chinese, investors, the program is also in high demand among investors from Iran, Syria, Lebanon, Russia, Iraq, Saudi Arabia, Egypt, Turkey and the United States.
Pricing wise, the program ties with Dominica as the lowest program cost for a single applicant via the donation route, with the added benefit of a stronger passport. The pricing for a couple comes in at approximately $165,000, but for a single applicant, this program does offer excellent value relative to price.
While the programme offers four possible routes to acquire citizenship, the $100,000 donation based route tends to appeal to the lion’s share of applicants, giving the exceptionally low capital layout and overall cost of application.