Castries, Jan. 25, 2023 (GLOBE NEWSWIRE) — With global changes and the constant evolution of the global migration market, it can be difficult to distinguish between the true benefits of different Citizenship by Investment (CBI) programs and making the right investment decisions.
As one of the youngest CBI products on the market, St. Lucia has made tremendous progress in offering an alternative investment option in one of the Caribbean’s most developed and diverse economies. The island nation has emerged as one of the fastest growing economies in the Caribbean region and the nation is well known for offering a variety of investment and business opportunities for those looking for options to plan their wealth and diversify their portfolios.
As a popular second home for investors and their families, the island is praised for its advanced and modernized infrastructure and offers one of the most modernized education and healthcare systems in the region.
Introduction of the National Action Bond in 2023
The country’s CBI department has introduced a new investment option for its CBI offerings following approval by the CBI Board and the Honorable Deputy Prime Minister and Minister of Tourism, Investment, Creative Industries, Culture and Information, Ernest Hiller.
As of January 1 this year, there is a new bond investment for investors who buy interest-free government bonds.
To participate in the Saint Lucia CBI program, applicants must choose one of four investment options, one of which is the National Action Bond (NAB), a new interest-free government bond that is available from January 1, 2023.
Previously, the government bond investment option provided a minimum investment amount of US$500,000. In May 2020, the time-limited special bond option for COVID-19 relief was introduced to allow the government to borrow funds for public use during the COVID-19 pandemic. Under the COVID-19 Special Bond Option, the minimum investment amount was $250,000. However, this investment option expired on December 31, 2022. To provide such an investment option to applicants, the government introduced the National Action Bond (NAB) as a new interest-free government bond. Under the NAB option, the minimum investment is $300,000 per application, with a fixed government administration fee of $50,000, regardless of the number of qualifying dependents involved. NAB must also be held for a minimum period of five years.
Other investment opportunities
Other investment options available to CBI program applicants are:
The National Economic Fund (NEF) was created to receive qualified investments to finance projects sponsored by the island’s government. Applicants can obtain citizenship by making a monetary contribution to the NEF through one of the prescribed contribution levels. Contributions start at $100,000 per candidate.
For the real estate option, the minimum required investment has been updated. The investment threshold has been reduced by a third from US$300,000 to US$200,000. Applicants can obtain citizenship by purchasing a government-approved property worth a minimum of USD 200,000. This property must be owned and maintained for a minimum of 5 years after obtaining citizenship.
Applicants can obtain citizenship by making an investment, individually or jointly, in a pre-approved business project. The individual investment must be valued at USD 3.5 million and create at least 3 permanent jobs. For co-investments, each investor must contribute at least US$1 million, resulting in a co-investment of US$6 million and the creation of at least 6 permanent jobs.
Benefits of CBI
There are many benefits of obtaining citizenship by investment, especially in Saint Lucia, as it attracts foreign direct investment (FDI) to the nation, which is used to advance various projects such as infrastructure development, real estate advancement, business expansion and employment innovation.
A paradise for nature seekers, history buffs and relaxation seekers, St. Lucia offers citizens all the tropical benefits of the Caribbean. These benefits also include:
Right to dual citizenship
Lifetime citizenship, with the right to live and work in the country
Four investment options
The Saint Lucia CBI program is known for its high standards and outstanding benefits. It is one of the most sought after programs in the world. The program offers various financial incentives such as tax exemptions, permanent residency and access to visa-free travel for its citizens.
According to Moody’s Analytics, the island nation has been successful in attracting foreign business and investment, particularly in its offshore banking and tourism industries, and its manufacturing sector is the most diverse in the Eastern Caribbean region. This makes it an attractive option for those looking to invest in a safe and prosperous country.
Is this CBI program right for you?
The following may be suitable for the programme:
Individuals/businessmen who want to set up a business abroad
Families seeking better global mobility
Professionals who want to expand their horizons
Families who want their children to study at prestigious universities
CONTACT: PR Saint Lucia Saint Lucia +1 758 458 6050 [email protected]