{"id":56216,"date":"2020-08-28T13:01:07","date_gmt":"2020-08-28T17:01:07","guid":{"rendered":"https:\/\/www.investmentimmigration.com\/?p=56216"},"modified":"2020-08-28T13:01:07","modified_gmt":"2020-08-28T17:01:07","slug":"st-lucia-cip-slashes-bonds-investment-requirement-by-50-in-covid-19-change","status":"publish","type":"post","link":"https:\/\/www.investmentimmigration.com\/st-lucia-cip-slashes-bonds-investment-requirement-by-50-in-covid-19-change\/","title":{"rendered":"St Lucia CIP Slashes Bonds Investment Requirement by 50% in COVID-19 Change"},"content":{"rendered":"

Hit hard by the near-total shutdown of international travel and tourism due to the COVID-19 pandemic, St. Lucia has announced a temporary reduction in minimum investment requirements under its citizenship by investment program<\/a>.\u00a0<\/span><\/p>\n

With just 26 cases, 25 recoveries and zero deaths, St. Lucia has controlled the spread of the COVID-19. Now, it seeks to leverage its CIP to attract foreign investment into its pandemic-hit economy.\u00a0<\/span><\/p>\n

In the past, Caribbean countries have relied on temporary reduction in CIP minimum investments to finance repair of public infrastructure damage caused by hurricanes<\/a> and other natural calamities. Hit by the pandemic, St. Kitts and Nevis was the first to announce temporary CIP measures and now St. Lucia has followed suit. \u00a0<\/span><\/p>\n

\n

Read More<\/b><\/p>\n

St. Lucia: CIP Investments Surge Despite Struggle to Shake Off \u2018Inexpensive\u2019 Tag<\/a>
\nIMF Compliments Saint Lucia Citizenship-by-Investment Program<\/a>
\nSaint Lucia Slashes Cost Of Citizenship-by-Investment Program<\/a><\/p>\n

\n

COVID-19 Relief Bonds<\/h3>\n

St. Lucia\u2019s CIP offer four investment options under its investment immigration program.<\/p>\n

    \n
  • Contribution to the National Economic Fund: $100,000<\/li>\n
  • Approved real estate projects: $300,000<\/li>\n
  • Approved enterprise projects: $3.5 million<\/li>\n
  • Government Bonds: $500,000<\/li>\n<\/ul>\n

    To attract foreign investment, St. Lucia has announced a temporary reduction in investments to investors buying St. Lucia\u2019s COVID-19 Relief Bonds. These non-interest bearing bonds must be held for a period of five years. This investment option is available until December 31, 2020.<\/p>\n

    \n

    St Lucia: Temporary Investment Reduction<\/h3>\n\n\n\n\n\n\n\n
    No. of Applicants<\/b><\/td>\nMinimum Investment<\/b><\/td>\nHolding Period<\/b><\/td>\n<\/tr>\n
    Single Applicant<\/td>\n$250,000<\/td>\nFive years<\/td>\n<\/tr>\n
    Applicant + One Dependent<\/td>\n$250,000<\/td>\nSix years<\/td>\n<\/tr>\n
    Applicant + Up to four dependents<\/td>\n$250,000<\/td>\nSeven years<\/td>\n<\/tr>\n
    Applicant + Up to four dependents<\/td>\n$300,000<\/td>\nFive years<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
    \n

    National Economic Fund\u00a0<\/span><\/h3>\n

    For National Economic Fund investments, the minimum contribution for a single applicant is unchanged. However, contribution requirements for couples and families of four, and for every additional dependent has been reduced.\u00a0<\/span><\/p>\n

    \n

    St. Lucia: National Economic Fund Investments<\/h3>\n\n\n\n\n\n\n\n
    No. of Applicants<\/b><\/td>\nNew Requirement<\/b><\/td>\nEarlier Requirement\u00a0<\/span><\/b><\/td>\n<\/tr>\n
    Single Applicant<\/td>\n$100,000<\/td>\n$100,000<\/td>\n<\/tr>\n
    Applicant + One Dependent<\/td>\n$140,000<\/td>\n$165,000<\/td>\n<\/tr>\n
    Applicant + Up to four dependents<\/td>\n$150,000<\/td>\n$190,000<\/td>\n<\/tr>\n
    Every Additional Dependent\u00a0<\/span><\/td>\n$15,000<\/td>\n$25,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

     <\/p>\n

    \n

    Further, St. Lucia has reduced the government administrative fee from $50,000 to $30,000 and the fee for newborns from $25,000 to $500.<\/p>\n

    Changes to Definition of Qualifying Dependent<\/h3>\n

    St. Lucia has also expanded the definition of qualifying dependents, which means a wider range of family members can be included by the investor in the CIP application.\u00a0<\/span><\/p>\n

    \n

    St. Lucia: Qualifying Dependents<\/h3>\n\n\n\n\n\n\n\n
    Category\u00a0<\/span><\/b><\/td>\nEarlier Requirement<\/b><\/td>\nNew Requirement<\/b><\/td>\n<\/tr>\n
    Children\u00a0<\/span><\/td>\nNot more than 18 years and a full time student<\/td>\nNot more than 21 years with no full-time student requirement<\/td>\n<\/tr>\n
    Children fully supported by the applicant<\/td>\nNot more than 25 years\u00a0<\/span><\/td>\nNot more than 30 years\u00a0<\/span><\/td>\n<\/tr>\n
    Parent fully supported by the main applicant<\/td>\n65 years<\/td>\n55 years<\/td>\n<\/tr>\n
    Unmarried brother or sister of the main applicant only<\/td>\nNA<\/td>\nBelow 18 years with consent of parent\/guardian for citizenship application<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
    \n

    Finally, the option of adding dependent family members to an approved CIP application is now available to all applicants irrespective of their choice of investment option. Earlier, an add-on to the application was available only to those making a contribution to the National Economic Fund.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Hit hard by the near-total shutdown of international travel and tourism due to the COVID-19 pandemic, St. Lucia has announced a temporary reduction in minimum investment requirements under its citizenship by investment program.\u00a0 With just 26 cases, 25 recoveries and zero deaths, St. Lucia has controlled the spread of the COVID-19. Now, it seeks to…<\/p>\n","protected":false},"author":2,"featured_media":56218,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[5718,454],"tags":[5353,5720,5722],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.investmentimmigration.com\/wp-content\/uploads\/2020\/08\/St-Lucia_134067863-scaled.jpeg","jetpack_shortlink":"https:\/\/wp.me\/p8hnWW-eCI","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts\/56216"}],"collection":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/comments?post=56216"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts\/56216\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/media\/56218"}],"wp:attachment":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/media?parent=56216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/categories?post=56216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/tags?post=56216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}