The prosperous and picture perfect island nation of St. Lucia has began a fresh Citizenship for Investment Program in 2015 which includes been designed remember the very best practices of various other successful programs around the world. This program has been presented to provide a boost to the economy of the tiny Caribbean nation and in addition for creation of new jobs in the united kingdom.
The Saint Lucia Citizenship by Investment Program was commenced in 2015 based on the Citizenship by Investment Work No. 14 of 2015. Regulations were more framed beneath the Act in the form of the Citizenship by Investment Regulations, 2015 to supply effect to the Work and set the complete criteria and rules for the program. Overall, the entire plan is usually overseen by the Citizenship by Investment Board which has established under the Act.
The provisions of the act have already been designed remember the requirements of prospective applicants similarly and ensuring exclusivity and national interest on another. The eligibility criteria for a credit card applicatoin under Program are:
Age of the applicant must be at the least 18 years;
A net worth of at the very least US $ 3 million;
The applicant and their qualifying dependents over the age of 16 pass a homework and background check.
Making the required disclosures as provided within the application; and
Transaction of administrative, processing along with other requisite Fees
The very least qualifying investment through one of the following categories of investment -
The Saint Lucia National Economic Fund
Under this provision a onetime investment decision must be made to the National Economic Fund which includes been established under Content 33 of the Act. The minimum investment amounts prescribed are:
For each Individual applicant: US$200,000 For a Joint Application with husband or wife: US$235,000 For a Joint application with spouse and up to two (2) other qualifying dependants: US$250,000 Additional amount for each additional dependant, of any age: US$25,000
An approved PROPERTY development
An applicant can also make an investment of US$300,000 in approved property project. These projects are accepted by the Council of Ministers and drop in two broad categories of Higher ended Branded Hotels and resorts and TOP QUALITY Boutique Properties.
An approved Enterprise project
Enterprise tasks are approved by the Council of Ministers and contact fall under the seven broad types of Specialty Dining places, Cruise ports and marinas, Agro-processing vegetation, Pharmaceutical items, Ports, bridges, roads and highways, Research establishments and facilities and offshore universities.
The quantity of investment under this category is a minimum of US$3.5 million for a single applicant or perhaps a minimum level of US$ 6 million for a group of applicants, with each individual contributing a minimum sum of US$ 1 million.
The purchase of Government bonds
Applicants may also elect to invest in non-interest bearing Government bonds for a period of five years during which the bonds must be remain in the name of the candidate. The bonds must be purchased for the following minimum amounts:
For a person applicant: US$500,000 For each Individual applicant: US$535,000 For a Joint Application with partner: US$235,000 For a Joint application with husband or wife or more to two (2) other qualifying dependants: US$550,000 Additional amount for every additional dependant, of any kind of age: US$25,000:
The Government of St. Saint Lucia Citizenship by Investment Lucia has tried to make the process investor friendly through the varied options and in the event all the docs and investments come in place, the certification of citizenship is also granted within a period of Three months.