Saint Lucia Citizenship By Investment Launched In Monaco

Posted by Hanna G Fitz on Thursday, October 8, 2015

The Senate and House of Assembly of the island nation passed a Citizenship by Investment Act No. 14 of 2015 which is intended to attract more investment to the island. The programme was formally launched in Monaco on 7th October, 2015 as part of Arton Capital's Annual Global Citizen Forum.  

St. Lucia is the fifth Caribbean jurisdiction to launch a Citizenship-by-Investment Program in order to attract new investors. The Prime Minister and Minister of Finance Dr. Kenny Anthony told the House of Assembly that it was not easy agreeing to the program, but the reality of the economic situation demands action.

In presenting the bill in Parliament, the Prime Minister vowed to ensure Saint Lucia’s program is built on transparency.

“I believe that there are some overriding principles that have to apply when considering such a program. Firstly, the honour and integrity of Saint Lucia must be uppermost. We cannot enter into this programme and make citizenship available to the highest bidder at any price, at any cost,” said Dr. Kenny Anthony.

The Act states that any person over the age of 18 who meets the qualifying criteria, together with his/her dependents, may apply to be registered as a citizen of Saint Lucia. The application, which is to be completed by the applicant and submitted via an authorised agent, must include, among other things, the following:

  • non-refundable application fee (to be prescribed by regulations);
  • a health certificate by a medical practitioner with respect to each applicant and qualifying dependant;
  • a police certificate from the applicant’s country of residence;
  • a banker’s reference;
  • details and evidence of the proposed qualifying investment; and
  • sworn affidavit of support of each qualifying dependant (if applicable).
This presents a great opportunity for investors to take advantage of the many under-serviced industries on the island. Saint Lucia is more than just a tourism destination and is a great strategic location in the Eastern Caribbean. We will provide more information on the programme and its regulations as it becomes available. Learn more about our international business services here.

Tags: saint lucia citizenship by investment  in-market support  invest in saint lucia  invest caribbean 

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