St Lucia: Why residency by investment could be perfect for you
The Caribbean is one of the most idyllic locations in the world for holidaymakers and expats alike, making any opportunity for relocation an interesting prospect worth looking into further. If you are in the process of either considering or making applications for residency and or citizenship in different countries, perhaps the information we will share with you today could present a new choice to add to your list. A Commonwealth member and island nation in the Lesser Antilles, St Lucia is the perfect candidate to consider. Not only does it exhibit the charm and beauty of the Caribbean we mentioned before, but since 2016, there is also a citizenship by investment scheme on offer to foreign investors with the requisite level of capital assets to place into the nation in return for their passport and all of the benefits that come with it. But let us not get too ahead of ourselves, in today’s article, we will cover the requirements, stages and benefits of St Lucia’s program, and hopefully help you decide if it could be a viable option for you.
First and foremost, you will most likely want to know the eligibility criteria, as the fine print can often be the deciding factor when weighing up decisions of any magnitude. Please find below a short list outlining the requirements for applicants:
1. 18 years old minimum
2. Good health and character
3. Clean criminal record
4. Have sufficient funds to make the investment
It has to be said, the lack of exclusivity is part of what makes this program so appealing to people from across the globe. Yes, the investment is a large amount, we will cover this in more detail in a minute, however, in terms of people being allowed to apply, there are no nationality restrictions and comparatively few hurdles to jump over before obtaining citizenship in St Lucia.
We can now take a more in depth look at the investment itself and the steps involved in the process.
1. Documents are gathered for submission and attaching to the application
2. The Citizenship-by-Investment Board are in charge of the application reviewing process and are the barrier between acceptance and denial for any prospective investor