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December 23, 2020

Saint Lucia CIP extends Covid-19 Relief Bond option until end of 2021

Launched under Saint Lucia’s Citizenship by Investment programme in reaction to the pandemic in May, the temporary COVID-19 Relief Bond which gives potential investors the chance to acquire citizenship by purchasing government bonds for half their previous price, has been extended for one more year.

The Cabinet of Ministers of Saint Lucia has approved the extension of the special COVID-19 Relief Bond for one more year until December 31st 2021. The amendments to the regulations to allow for such an extension are being undertaken and once implemented, the CIP Unit will be welcoming applications for the Special COVID-19 Relief Bond in 2021.

As part of the country’s Citizenship by Investment programme, which has been running for four years, this temporary COVID-19 Relief Bond, unveiled in May, slashed the price of Saint Lucia’s citizenship by investment via the government bond route by 50%.

Now extended for one more year until December 31st, 2020, this relief bond allows investors to purchase a non-interest-bearing government bond for just US$250,000 for a single applicant (down from US$500,000) and US$300,000 for a family of four (down from US$550,000) in exchange for full citizenship and passport.

The bonds are held for five years at 0% interest with additional service fees.

The applicant fees and commission structure of the Special COVID-19 Relief Bond will continue as they have been.

Saint Lucia’s Citizenship by Investment Programme

Launched in 2016, Saint Lucia’s Citizenship by Investment program is the newest of the five CBI programmes offered in the Caribbean. It is also one of the cheapest, with a minimum outlay of just $100,000, and is one of the most straightforward in terms of ease and speed of passport processing.

In addition to offering the cheapest financial outlay for single applicants, St Lucia’s CBI programme is currently offering the most affordable second passport option for families, with its temporary special Covid-19 offer (a reduction of $40,000), which runs until December 2020. This temporary offer gives potential investors the chance to purchase a non-interest-bearing government bond for just $250,000 (that is half the original price of its usual bond investment) for a single applicant with $30,000 added on as an admin fee. Applicants can add dependents to the application for the exact same price, though number of years will increase with each add-on.

The average time for processing a St Lucia second passport is three months and the process of application for St Lucia’s CIP is known to be transparent and thorough. A further positive of St Lucia’s citizen investment programme is that there is no need for applicants to reside in or travel to the island during the application processing.

A second passport from St Lucia gives individuals free access to more than 146 countries, including the UK, Schengen area, EU, South America and Singapore.

St Lucia’s programme delivers five investment options, the most of any other country. As a location, St Lucia not only offers a very relaxing lifestyle, it also boasts the best economy in the Caribbean.

To find out more about the Saint Lucia CBI Programme, read our country profile by clicking here