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Are you considering investing in St Lucia Citizenship by Investment? The beautiful Caribbean island of St Lucia offers a unique opportunity to obtain citizenship by investing in its economy.
This article will explore everything you need to know about the St Lucia Citizenship by Investment Program, including its benefits, requirements, and application process.
By the end of this article, you’ll have a comprehensive understanding of the program and be better equipped to make an informed decision about investing in St Lucia.
So, let’s dive in and discover what this program offers.
Table of contents
About St Lucia
St Lucia is one of a string of Caribbean paradise hideaways for expats who have done with taking on the world and want to retreat to a less stressful and rewarding lifestyle.
The forward-thinking government actively invites expats to move to the islands with offers of fast-track citizenship in return for investment.
St Lucia floats carefree in the warm waters of the Caribbean Sea, about 450 miles off the coast of Venezuela.
The island has had a violent history, swapping control between the French and British several times in the 18th and 19th centuries until the British took over in 1815 following Napoleon’s defeat at Waterloo.
At that time, the economy was built on enslaved people working on sugar plantations, which developed into a thriving agriculture sector over the centuries. However, the modern economy relies heavily on offshore banking and tourism.
Beautiful beaches, warm tropical weather and spectacular mountain scenery attract tourists and expats worldwide.
Highlights are The Pitons, two craggy peaks that are the remnants of volcanoes and Sulphur Springs, a volcano with a road through the crater.
The luxury resort of Marigot Bay is a magnet for visitors, while the marina docks some of the world’s largest and most expensive super yachts.
Although independent, St Lucia has a strong French flavour and a close affinity to Britain as a Commonwealth member.
Capital
Castries is the capital and largest city standing in a region of the same name with a population of 80,000.
Population
185,000
British Expats
1,500 British expats live in St Lucia
Languages
The national language is English, but some people speak French Creole
Climate
The St Lucia climate is dry and sunny for most of the year. The wettest time is between September and November, when hurricanes can strike the islands.
Year-round temperatures average 27 °C (80.6 °F), with a range from 23 °C (73.4 °F) to 29 °C (84.2 °F) in the winter to between 25 °C (77.0 °F) to 30 °C (86.0 °F) in the summer and autumn. The temperature cools between December and February.
Travel
St Lucia is 3,728 miles from London. The Hewanorra International Airport is the largest of the island’s two airports and has regular flights to London and the USA. Flight time to Heathrow is 8.5 hours.
Currency
The ST Lucia currency is the East Caribbean Dollar (XCD), which is pegged to the US dollar at an exchange rate of 2.7 XCD/ 1 US$.
GDP
The St Lucia GDP (Gross Domestic Product) is one of the lowest in the world – posting US$1.691 billion in 2021.
Map
St Lucia is part of the Windward Islands, 450 miles north of Venezuela.
St Lucia Citizenship By Investment options
St Lucia has run a citizenship-by-investment program since 2015.
The main applicant must be at least 18 years old to qualify and must pick one of these investment options:
- Buy and hold for five years real estate worth at least US$200,000 from an approved real estate development
- Invest in an approved enterprise project by investing US$3.5 million, which creates three permanent jobs
- Make a group contribution of US$6 million, with each applicant putting in a minimum of US$1 million. The project must also offer at least six permanent jobs
- As a single investor, pay a non-refundable US$100,000 contribution to the National Economic Fund or:
- US$140,000 for the main applicant and spouse
- US$150,000 for the main applicant, spouse, and two dependents
- US$15,000 for each additional dependent
- US$25,000 for each qualifying dependent
- Buy and hold non-interest-bearing government bonds with a minimum value of US$300,000 for at least five years
Citizenship flows down on the death of the main applicant to be inherited by any surviving family.
St Lucia also accepts dual nationality.
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St Lucia Citizenship By Investment Processing time
Processing a citizenship-by-investment application should take no longer than four months.
Visas
St Lucia citizenship allows visa-free travel to 144 countries, including the UK< every European country, Hong Kong and Singapore.
Citizenship comes with a work permit.
Tax
Expats can expect to pay income tax in St Lucia.
Anyone living overseas but not in St Lucia for more than 183 days in a tax year – the calendar year – are considered resident but not ordinarily resident. They are taxed on income sourced in St Lucia.
The rates are:
| Income Tax | Taxable income | Rates |
|---|---|---|
| Up to XCD15,000 | 15% | |
| XCD15,001 – XCD30,000 | 20% | |
| Over XCD30,000 | 30% |
- Capital gains tax (CGT) is zero
- Inheritance tax is zero
St Lucia Cost of living
The cost of living in the St Lucia capital of Castries is a fraction of that in London.
Rents are around 20 per cent of those in London, while food and restaurant prices are considerably lower.
But salaries are also much less than those in the UK. The average monthly take-home pay is £1,100 compared with £3,258 in London.
Real Estate
Renting a home in St Lucia is much cheaper than renting in London. Some sample monthly rents posted by expats on the island are:
| London | Castries | |
|---|---|---|
| Single bed city centre flat | £2,058.70 | £335.94 |
| Single bed suburban flat | £1,437.00 | £216.00 |
| 3-bed city centre flat | £3,832.00 | £661.00 |
| 3-bed suburban flat | £2,453.00 | £506.00 |
Home prices vary depending on the size and location of the property. The average cost of buying an apartment is £90 a square metre — the price rockets to £3,258 a metre in London.
View properties for sale in St Lucia on Rightmove
Healthcare in St Lucia
St Lucia’s main hospital is well-equipped to deal with most treatments, but severe cases are airlifted to the US or nearby Martinique.
Non-nationals must pay for treatment.
The island has a private hospital.
St Lucia Citizenship By Investment FAQ
Frequently asked questions about St Lucia and their citizenship by investment program.
St Lucia is 2,000 miles from New York and 4,200 miles from London. Flight times are five hours to New York and 8.5 hours to London.
Expats only pay income tax on income, such as salaries or interest sourced in St Lucia.
If citizenship by investment involves real estate or bonds, there’s a minimum holding period of five years. Other investments are non-refundable – including the US$50,000 administration fee.
Standard applications take around four months to process, although complicated cases can take longer.
St Lucia uses the East Caribbean Dollar (XCD), which is pegged to the US dollar at a rate of 2.7 XCD to the dollar.
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