St. Lucia has very wonderful sight beaches – golden in the north and silvery in the south. The island is also called as “Helen of the West Indies”.
CITIZENSHIP BY INVESTMENT
- Citizenship inheritance.
- No mandatory rule to renounce the first citizenship.
- No language test required.
- Inclusion of dependent children under 26.
- Inclusion of dependent parents above 65.
- Inclusion of mentally or physically challenged dependent children and/or parents no matter about their ages.
The Saint Lucia Citizenship by Investment Programmed was officially launched on Tuesday December 29, 2015. The Official Launch was used as a platform to share with the public the tremendous amount of work which had gone into getting ready to accept the first application as of 1st January 2016. The primary reason for launching the program was to attract foreign direct investments as the country is capable of offering plenty of benefits to the potential citizens.
The application process is straightforward and does not need the applicant to travel to St. Lucia. The applicant must be at least 18 years old. Provide details and evidence of the proposed qualifying investment. Pass a diligence background check along with their qualifying dependents over the age of 16. Provide full and frank disclosure on all matters pertaining to the application and pay the requisite non-refundable processing, due diligence and administrative fees upon application.
An applicant who: Providing false information; being convicted of a criminal or even subject to criminal investigation; considered to be a protentional national security risk; involve in any activity likely to cause disrepute to the country; or has been denied a visa to a country with which St. Lucia has visa free travel, shall not be approved for citizenship under the citizenship by investment act.
Approved enterprise projects fall into 7 broad categories:
1. Specialty Restaurants 2. Cruise ports and marinas 3. Agro-processing plants 4. Pharmaceutical products 5. Ports, bridges, roads and highways 6. Research institutions and facilities 7. Offshore universities
Once approved the enterprise project becomes available for qualifying investments from applicants for citizenship by investment.
Once an application for citizenship by means of an investment in an approved enterprise project has been approved, the following minimum investment is required:
Option 1 – A sole applicant.
• A minimum investment of US$3,500,000
Option 2 – More than one applicant (joint venture).
• A minimum investment of US$ 6,000,000 with each applicant contributing no less than US$1,000,000
Citizenship by investment may be made through the purchase of non-interest-bearing Government bonds. These bonds must be registered and remain in the name of the applicant for a five (5) year holding period from the date of first issue and not attract a rate of interest.
Once an application for citizenship by means of an investment in government bonds has been approved, the following minimum investment is required:
Single applicant USD 500,000 Applicant and Spouse USD 535,000 Applicant, spouse and two others qualifying dependents USD 550,000 Each additional qualifying dependent USD 25,000
Bayat legal Services’ compliance team will conduct an internal due diligence.
Qualification assessment, KYC and background security check.
Study the application, sign the retainer agreement, prepare tailor made list of documents and application preparation.
Submission, file review, due diligence process
Final decision, Comfort letter issuance and contribution payment.
Naturalization certificates and passports issuance.