From January 2016 up to 500 affluent foreign investors a year with a minimum net worth of $3m USD will be entitled to apply for St Lucian citizenship. The threshold is intentionally high as it “distinguishes St Lucia from other programmes,” said Ernest Hilaire, chairman of the island’s Citizenship by Investment Unit.
St Lucia follows in the footsteps of Antigua & Barbuda, which launched its citizenship programme in 2013 with a minimum investment requirement of a $350,000 USD in approved real estate projects, including within the emerging 1,600-acre Antigua Special Economic Zone.
Dominica recently broadened its offering so that investors in real estate worth at least $200,000 USD can qualify, while Grenada revived its scheme in 2013, which requires a minimum investment of $350,000 USD.
The blueprint for such citizenship programmes comes from St Kitts & Nevis, which, according to the Federation’s Prime Minister, is “still the largest processor of applications in the region” and requires a minimum investment of $400,000 USD in property.
This article was originally published in Issue 6 of The Caribbean Property Investor magazine. To read the full issue, click here.