St. Lucia’s Citizenship by Investment Program (CIP) became effective in December of 2015, in an exertion to introduce new citizens to the country by presenting investment opportunities. The Eastern Caribbean island country is mainly known for its beautiful views and attractive tropical weather, which makes it an extremely popular second home or retirement endpoint for the upper middle classes of Europe and North America. St. Lucia citizenship by investment is meant to help those with such objectives towards the path to citizenship.
There are various option to contribute to lengthy stays in St. Lucia without actually applying for citizenship, but for those who want to find out citizenship in a matter of about three months’ time, the St. Lucia citizenship by investment programs are the best option. It’s a simple, forthright process, and three months isn’t too much of a waiting period at all.
To begin with
The initial step to getting tangled with this program is to direct an application to St. Lucia’s Citizen by Investment Unit (CIU). The impression behind the CIP is to appeal high-worth individuals who also have a clear background – so upon applying, those looking for citizenship must need to undergo a background check.
The minimum qualifying investment must be made in the system of any of the approved vehicles below:
· Government Bonds
· Real Estate Projects
· A National Economic Fund
· Enterprise Projects
After the approval of the application will the investment required to be made, therefore there won’t be any need to invest before you know if you’re eligible for the program.
Government Bonds
The terms around succeeding for the citizenship via government bond investments need that the applicant buys five-year, non-interest-bearing bonds. These bonds need to get registered in your (the applicant’s) name for the period of time of the investment timeline. The bond value is repaid after the length of the investment expires – thus, after five years.
St. Lucia’s government bonds need to be registered in the non-public register of the National Savings and Development Bonds Register. Minimum qualifying amounts for this investment option are as follows:
Single applicant: $500,000 USD
Applicant with spouse: $535,000 USD
Applicant plus spouse and two other dependents: $550,000 USD
Each additional: $25,000
Real Estate Projects
Certified real estate projects don’t comprise your usual real estate investment, such as rental properties. For St. Lucia’s CIP, projects that would qualify you for citizenship would be more along the lines of high-end branded hotels, resorts, and high-end boutiques.
At present, there are several such projects under appraisal to regulate whether they would qualify. When picking this type of investment vehicle, it is better to contact a CIP representative to get further details on such real estate options.
The smallest qualifying amount for the permitted real estate project is $300,000 USD for a single applicant. This amount does not contain the acquisition price of the real estate property itself. That will be in totaling to this investment.
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