Published at: 17/05/2020 12:00 pm
Saint Lucia reduced the necessary amount of investment under the bond option in exchange for citizenship and passports.
To mitigate the economic consequences of the virus to the Covid-19 virus, the government released the amended "Citizenship by Investment Regulations 2020". According to the official regulation, the limited time offer reduced the investment amounts under the government bond purchase option and the contributions under the National Economic Fund option.
The new Citizenship by Investment (Amendment) Regulations' objective is to attract more investor immigrants to St Lucia.
The "Covid-19 Bond" requires an investment of 250,000 USD from the main applicant, who must hold the bonds for at least five years in exchange for the citizenship of St Lucia. So, they halved the amount of investment, and the time frame of maintaining the investment did not change. Another remarkable amendment is that the holding period became longer for families. Meanwhile, the government reduced the necessary amount of funds as well for a family of four applicants.
The new regulations decreased the amount of contribution/donation for families of four and the additional family members. So, entire families can apply through more reasonable amounts of contribution/donation for the passports of Saint Lucia.
There are three other minor new changes as well. If the applicants of a family invest under the real estate option in educational institutions and the children are studying there, they don't have to pay the governmental administration fees. On the other hand, Saint Lucia introduced a replacement fee for the lost certificates of registration. Moreover, registering the new-born babies of the economic citizens has now a cost of 500 USD, it applies to children under 12 months of age.
Discus Holdings Ltd is an expert of the Saint Lucia Citizenship by Investment Program, click here to set up a consultation with our colleagues!