Published at: 30/03/2020 12:48 pm
2019 was a good year for the St Lucia Citizenship by Investment Program; the total amount of investments increased by 120 per cent during the last year.
In 2017 and 2018 there were 188 approved applicants, who invested 28 million EC$ (East Caribbean Dollar), meanwhile, in 2018 and 2019, the number of successful applicants was 210, and they spent 62 million EC$ in the Caribbean island nation.
Among the successful investors, the number of Chinese applicants increased the most, from 16 per cent to 21. Since the passport scheme's introduction in 2016, 106 Chinese obtained the citizenship of St Lucia. 42 Syrians and also 42 Iranians got the passport as well, followed by 40 Lebanese, 39 Iraquis, 34 Russians and 30 Americans.
As in other Caribbean states with citizenship programs, St Lucia also offers the two main options: contribution and real estate investment.
The minimum amount of contribution is only 100,000 USD; this amount is among the most affordable such offers. Of course, if the investor does not want to obtain the passport alone, the necessary amount increases. For example, with a spouse and two children, the investor must contribute 190,000 USD. However, you can also invest in an approved real estate project (at least 300,000 USD) or 3,5 million USD in an approved enterprise (business project). Non-interest bearing government bonds are also available for 500,000 USD.
It is good to know that St Lucia's financial sector is stable and well-developed. The law-tax system attracts wealthy investors, it is another benefit if the applicants are not only in the freedom of travel but to do business as well.
First of all, click here to read all the detailed information about the citizenship by investment program.
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