St Lucia Offering Citizenship By Investment

By Fiona Moore, for 01 March, 2016

Saint Lucia has recently launched a citizenship by investment program.

The program provides citizenship to individuals who make a qualifying minimum investment in the Saint Lucia National Economic Fund, an approved real estate project, an approved enterprise project, or government bonds.

Saint Lucia began accepting applications in January. Similar programs are offered in Saint Kitts, Dominica, Antigua and Barbuda, and Grenada.

Prime Minister Kenny D Anthony said: "It was a difficult decision to make, but given the persistent decline in foreign direct investment caused by the world financial crisis, the mounting challenges to raise money for our development, and the increasing use of citizenship programs by other countries as an incentive tool, we took the decision to offer a similar program."

"While we have spent the last four years stabilizing and restoring our economic foundation, the Citizenship by Investment Program will provide impetus to our recovering economy to take off in the coming months."

While the territory offers idyllic scenery, the territory is not home to the same personal income tax benefits as can be unlocked through obtaining citizenship in other Caribbean territories. Its top personal income tax rate is 30 percent, on income over XCD48,000 (USD17,750).

Tags: Individuals | Citizenship | Tax | Investment | Saint Lucia | Grenada | Antigua And Barbuda | Dominica | Expats | Investment | Invest | Investment |


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