Saint Lucia

Citizenship by Investment Program

Saint Lucia's Citizenship by Investment Program was launched in December 2015 following the passage of Act No. 14 of 2015, the Citizenship by Investment Act on 24th August 2015. Under the program, foreign nationals that contribute economically to the country may become Saint Lucian citizens. Economic contribution may be in the form of a donation to the National Development Fund or an investment in an approved real estate project or an investment in government bonds or an investment in an enterprise project.

An amendment of Regulation, coming into force last January 1st (2017), has reduced qualifying investment amounts on the National Development Fund option, has removed the sworn affidavit requirement declaring financial resources of at least US$ 3m, has added an administrative fee for the Government bonds investment option, and provides the option to sign the Oath of allegiance before an attorney-at-law, a Consular Officer of Saint Lucia, an Honorary Consul of Saint Lucia, a Notary Royal or a Notary Public.

investment


Investment in Government Bonds

Purchase of non-interest bearing Government Bonds, registered and remain in the name of the applicant for a five-year holding period from the date of first issue.
US$ 500,000 – Single applicant
US$ 535,000 – Main applicant with spouse
US$ 550,000 – Main applicant, spouse and up to 2 other dependents.
US$ 25,000 – For each additional dependent.

Requirements


- Main applicant must be 18 years old or older.
- Main applicant must prove that has enough funds to make the required investment, and prove the legal source of these funds.
- Primary applicant and dependents do not suffer contagious disease and/or serious health problems.
- Clean Criminal Record.
- Not to be subject of a criminal investigation.
- Not to be considered a potential national security risk.
- Not to be involved in any activity likely to cause disrepute to Saint Lucia.
- Not to have been denied a visa to a country with which Saint Lucia has visa-free access.

Restricted Nationalities


No nationality is officially restricted

dual citizenship


Dual citizenship is recognized in Saint Lucia. You are not required to renounce your previous nationality to become a citizen of Saint Lucia.


Documents Required


  • Proof of payment of nonrefundable processing and due diligence fees
  • Certified copy of passport
  • Six passport-size photos
  • Original or Certified copy of Birth Certificate (if applicable)
  • Certified copy of proof of name change (if applicable)
  • Certified copy of Military Records or exemption from military service (if applicable)
  • Photograph and Signature Certificate
  • Evidence of Residential Address
  • Certified copy of ID Card
  • Original or Certified copy of Marriage Certificate (if applicable)
  • Curriculum Vitae
  • Original Professional Reference Letter (Not older than 6 month)
  • Original Bank Reference Letter (Not older than 6 month)
  • Affidavit of support for Dependents
  • Professional and academic certificates (if applicable)
  • Original Police Clearance Certificate
  • Certified copy of current and expired visas
  • Medical Certificate
  • Official transcripts of written confirmation from a recognized education center (dependents over 18)
  • Certified copy of custody or legal guardianship records
  • Statutory declaration of a non-accompanying parent (if applicable)
  • Investment Confirmation / Escrow agreement
  • Certified copy of a photo ID of a non-accompanying parent bearing his or her signature (if applicable)
  • dual citizenship Yes
  • Family members included Yes
  • land ownership Yes
  • Physical residence required No
  • Personal visit required No
  • Language skills required No
  • Interview required No
  • Investment Single $500,000
  • Investment Family 4 $550,000
  • Minimum annual income -
  • Time to citizenship 4
  • Time to permanent residency
  • Visa-free countries 127
  • Financing available No

Fees

government fees main applicant $50,000
due diligence fees main applicant $7,500
processing fees main applicant $2,000
total fees main applicant $59,500
due diligence fees spouse $1,000
processing fees spouse $1,000
total fees spouse $2,000
due diligence fees dependents -18 $1,000 (16-17)
processing fees dependents -18 $1,000
total fees dependent -18 $2,000 (16-17) $1,000 (under 16)
processing fees dependents 18-25 $1,000
total fees dependent 18-25 $2,000
due diligence fees dependents +65 $1,000
processing fees dependents +65 $1,000
total fees dependent +65 $2,000

Country details

Saint Lucia
XCD
1758
Castries
North America
English
160922
Saint Lucia is a small island state in America member of the CARICOM and the Commonwealth. It is located in the Caribbean Sea, north of Saint Vincent and the Grenadines and south of the island of Martinique. The island has a population of 185,000 inhabitants. Its official languages are English, although 90% of its population speak a French-based Creole. Its official legal tender currency is the East Caribbean Dollar (XCD), which has a fixed exchange rate with the dollar at 2.7: 1.

Visa Free Travel

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Taxes

Becoming a Saint Lucian citizen, does not automatically make you a tax resident. To be a tax resident an individual must:


  • Have its permanent place of residence within the country and spend a period of time during the tax year in Saint Lucia, unless absence purposes are considered reasonable by the Comptroller of Inland Revenue, or

  • Be in Saint Lucia 183 days or more in the tax year, or

  • Be in Saint Lucia for a continuous period of less than 183 days, but is resident the preceding or succeeding tax year.


Personal Income Tax is levied on a residence and remittance basis:

  • Individuals residents or ordinarily residents in Saint Lucia are subject to personal income tax on a worldwide basis.

  • Individuals residents but no ordinarily residents are subject to personal income tax on their Saint Lucian source income and foreign-source income remitted to the country.

  • Individuals non-residents are taxed on their income from Saint Lucian sources and income from foreign-sources remitted to the country.


Personal Income tax rates are progressive up to a top marginal tax rate of 30% on annual income exceeding XCD 30,000. Capital Gains, Dividends and Saint Lucian bank interests are tax-exempt.

Saint Lucia does not have Controlled Foreign Companies Rules. This means that income retained in a foreign entity owned by a tax-resident may not be subject to taxation.

Saint Lucia levies a residential property tax of 0.25% of the open market value of the property. There is a stamp tax on the transfer of assets, ranging from 2% to 10%, depending on the type of asset and residency status of the seller. There are no net wealth and inheritance taxes in Saint Lucia.

The Value-added tax rate is 15%. Reduced rate of 10% applies to the hotel sector. Certain goods and services are tax-exempt.

Regarding corporate taxation, domestic companies in Saint Lucia are subject to tax on their profits, whether accrued within or outside the country. Corporate Income tax rate is 30%. Dividends and capital gains are not usually subject to taxation. However, capital gains will be subject to taxation if comprise a substantial portion of the income-earning activities of the business.

Companies incorporated under the International Business Companies Act, may benefit from a fully tax exemption, easy accounting and confidentiality. Learn more about company taxation and legal framework at incorporations.io/saint-lucia/.

This should not be construed as tax advice. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances.  Contact us for further information.

  • Property tax Yes
  • Transfer tax Yes
  • Inheritance tax No
  • Net worth tax No
  • CFC law No
  • Tax residency days 183
  • Personal income tax rate 30%
  • Capital Gains tax rate 0%
  • Investment income tax rate 0%
  • Territorial taxation Yes

Procedures

Flag Theory | Passports.IO and our qualified attorney in Saint Lucia, will handle all paperwork, and guide you through each step of the process to ensure that it is as fast, efficient and pain free as possible.

First, our lawyers will conduct a due diligence check on you to ensure that you are eligible and meet the criteria to apply for the program and your application will be approved. We will send you the application forms and provide assistance to complete the questionnaires, translate and authenticate documents. You must do a medical examination (we may recommend clinics in your jurisdiction) and provide us the medical assessment. After that, you will be ready to undergo fingerprints procedures and transfer your investment to an escrow account (through escrow.com). Investment will be made only in case of application approval.

We will handle all paperwork with Saint Lucia’ Government, which will conduct a due diligence check. Once your application is approved, you will receive a certificate of naturalization and you will be able to apply for your passport. The whole process takes within 4 months.

For further information on Saint Lucia’ citizenship by investment program and detailed procedures, contact us for a free private consultation.

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