In a move which follows most of the neighbouring island territories Saint Lucia will begin accepting applicants for the Global Residency and Citizenship Program in January 2016.
This program consists of four tiers of choice of investment and regulations require that ‘applicants have a net worth of US$3 million to qualify for consideration. Additionally, a limit of 500 applications annually’ has been set.
In order to maximise the economic benefits from such a programme, the Citizenship by Investment Regulations (No. 89 of 2015) has prescribed the following investment options available to qualified investors:
(a) the Saint Lucia National Economic Fund;
(b) an approved real estate project;
(c) an approved enterprise project; or
(d) the purchase of Government bonds
Members of the Board of the Citizenship by Investment Program include Dr. Ernest Hilaire, Chairman; Mr. Dwight Lay, Attorney General’s Chambers; Mr. Lucius Lake, Immigration Department of the Royal Saint Lucia Police Force; Mrs. Raquel Willie-Trotman, Attorney-at-Law; and Mr. Deale Lee, Attorney-at-Law.
