The spread of COVID-19 has prompted CIP units to implement changes in their programs to attract more prospects. Saint Lucia has come up with attractive discount offers in order to position itself competitively in the Caribbean marketplace. Let us have a look at the significant changes along with the discount offers announced by the Saint Lucia Prime Minister on May 13th, 2020.
Bond option discount (valid until December 31st, 2020)
- To qualify for Citizenship by Investment program, clients can opt for a non-interest bearing bond with a five year holding period, termed as COVID-19 relief bond, for USD 250,000; which is effectively half the price of conventional USD 500,000 bond for a single applicant. The government has also reduced its administrative fee to USD 30,000 down from USD 50,000, payable once citizenship is approved.
- You can add one dependent in your application form with the same bond purchase amount of USD 250,000, but with a holding period of six years instead of five.
- For applications with more than four dependents, an additional USD 15,000 applies.
Changes in the National Economic Fund option
- For the addition of a spouse in your application, the contribution amount is reduced from USD 165,000 to USD 140,000.
- For the addition of spouse and two dependents under this option, the contribution amount is reduced by 21% to USD 150,000.
- For the addition of more dependents in a family of four, you have to pay the additional USD 15,000 per dependent, down from the previous USD 25,000.
Addition of Newborn in Application
The cost of adding a newborn has reduced to USD 500 (down 98% from the previous USD 25,000).
Know about Saint Lucia Citizenship by Investment program
It offers you the opportunity to reside in one of the mesmerizing locations in the Caribbean for as low as USD 100,000, with your second passport ready within 3 to 4 months.
Perks of obtaining citizenship in Saint Lucia
- Global mobility and Visa-free or Visa-on-arrival travel to Hong Kong, Singapore, the UK, and the Schengen area.
- Right to reside and work in the country.
- Inclusion of spouse, dependent children up to the age of 25, and dependent parents above the age of 65.
- No interview, education or management experience required.
- Physical residency or visitation is not required.
- Travel to St. Lucia during the application process is not required.
- No tax on worldwide income.
- No capital gains or inheritance tax.
Book a FREE online consultation with our team of experts to learn more about the program of your interest and identify the best fit for your needs.