Citizenship to investors.

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Old Oct 9th 2015, 8:27 pm
  #1  
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Default Citizenship to investors.

Yesterday, the Prime minister announced in Monaco -

Citizenship By Investment to start in January | St. Lucia News Online

This, according to my local sources, is to upscale expats coming into the country.

Now, some might take umbrage at this elitism, but time will tell.

"Show me the money! "
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Old Oct 9th 2015, 10:47 pm
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Default Re: Citizenship to investors.

Grenada has had it for a while, 500k us investment.
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Old Oct 10th 2015, 12:28 am
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Default Re: Citizenship to investors.

No indication yet as to how much it will cost as far as I can see.
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Old Oct 10th 2015, 7:20 am
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Default Re: Citizenship to investors.

Originally Posted by BritInParis View Post
No indication yet as to how much it will cost as far as I can see.
It appears that the application for citizenship will be considered on the following basis:

qualifying investment” means cash or an investment in bonds, land or enterprise as may be prescribed by Regulations that in the opinion of the Minister brings substantial benefits to Saint Lucia"

I was going to comment, but thought better of it.

The act (Citizenship by Investment Act No 14 of 2015) was brought into law in August.

Last edited by Pistolpete2; Oct 10th 2015 at 7:25 am. Reason: the Act
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Old Oct 10th 2015, 7:37 am
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Default Re: Citizenship to investors.

Seems it is doing the rounds. here in Cyprus we have Russians and Chinese buying citizenship. The coat is €300,000-00 investment plus the purchase of property over €300,000-00. There has been many takers. There are clauses to the continued financial investment.
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Old Oct 10th 2015, 7:51 am
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Default Re: Citizenship to investors.

Originally Posted by themajor View Post
Seems it is doing the rounds. here in Cyprus we have Russians and Chinese buying citizenship. The coat is €300,000-00 investment plus the purchase of property over €300,000-00. There has been many takers. There are clauses to the continued financial investment.
In Europe there is the attraction of an EU passport which leads on to other things but in St Lucia I'm not aware that a St Lucian passport granted under the Act leads on to freedom of movement as a Caricom citizen unless it is movement to another member state that has similar economic citizenship rules.

The United States has already been 'on' at St Kitts about certain undesirables getting citizenship from countries subject to US sanctions. In the present 'climate' one can just imagine the sorts of individuals who would want to get out of hotspots and set up shop in St Lucia and meet the requirements one way or another which are of course so very subjective.
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Old Oct 10th 2015, 8:43 am
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Default Re: Citizenship to investors.

Originally Posted by Pistolpete2 View Post
In Europe there is the attraction of an EU passport which leads on to other things but in St Lucia I'm not aware that a St Lucian passport granted under the Act leads on to freedom of movement as a Caricom citizen unless it is movement to another member state that has similar economic citizenship rules.

The United States has already been 'on' at St Kitts about certain undesirables getting citizenship from countries subject to US sanctions. In the present 'climate' one can just imagine the sorts of individuals who would want to get out of hotspots and set up shop in St Lucia and meet the requirements one way or another which are of course so very subjective.

I might be wrong ...But St.Lucia is a British Colony and so in reality??? could lead to a British Passport? or am I wrong?
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Old Oct 10th 2015, 10:54 am
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Default Re: Citizenship to investors.

Originally Posted by Pistolpete2 View Post
It appears that the application for citizenship will be considered on the following basis:

qualifying investment” means cash or an investment in bonds, land or enterprise as may be prescribed by Regulations that in the opinion of the Minister brings substantial benefits to Saint Lucia"

I was going to comment, but thought better of it.

The act (Citizenship by Investment Act No 14 of 2015) was brought into law in August.
It'll be interesting to see how it will compared to St Kitts' programme.

Originally Posted by Pistolpete2 View Post
In Europe there is the attraction of an EU passport which leads on to other things but in St Lucia I'm not aware that a St Lucian passport granted under the Act leads on to freedom of movement as a Caricom citizen unless it is movement to another member state that has similar economic citizenship rules.

The United States has already been 'on' at St Kitts about certain undesirables getting citizenship from countries subject to US sanctions. In the present 'climate' one can just imagine the sorts of individuals who would want to get out of hotspots and set up shop in St Lucia and meet the requirements one way or another which are of course so very subjective.
Originally Posted by themajor View Post
I might be wrong ...But St.Lucia is a British Colony and so in reality??? could lead to a British Passport? or am I wrong?
St Lucia has been an independent country since 1979 so no chance of a British passport although you would be a Commonwealth citizen. It's less about freedom of movement in the Caribbean than holding a passport that has less restrictions in terms of movement worldwide. For instance a St Lucia passport holder can travel visa-free to the Schengen area countries and the UK and Ireland whereas a, say, Chinese or Russian passport holder would require a visa.

I would suspect there are certain financial benefits regarding taxation in your native country if you become resident in St Lucia for tax purposes or renounced your native citizenship.
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Old Nov 3rd 2015, 7:38 am
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Default Re: Citizenship to investors.

Looks like applicants must have a net worth of USD 3,000,000 to qualify and there will be a cap of 500 applicants a year.

Nothing about how that money will in any way translate into being of benefit to St Lucia

You could have that net worth and still do all of your shopping in Miami.
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Old Nov 10th 2015, 2:48 pm
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Default Re: Citizenship to investors.

Here's another way of getting citizenship, apparently! This report is of a Saudi Arabian billionaire who seems to have done it. Unless it's a hoax-report. Can any resident confirm?
http://www.rt.com/uk/321409-saudi-di...unity-britain/
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Old Nov 10th 2015, 2:57 pm
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Default Re: Citizenship to investors.

He isn't a citizen, he is now an accredited diplomat of st Lucia so he can't be arrested anywhere for minor crimes... Nothing to do with citizenship.
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Old Nov 10th 2015, 7:16 pm
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Default Re: Citizenship to investors.

Originally Posted by bob_grenada View Post
He isn't a citizen, he is now an accredited diplomat of st Lucia so he can't be arrested anywhere for minor crimes... Nothing to do with citizenship.
He would be unlikely to receive diplomatic accreditation without citizenship.
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Old Nov 10th 2015, 10:02 pm
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Default Re: Citizenship to investors.

Happens the world over, non citizen businessmen or ex politicians are used because they have influence, or simply credibility.
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Old Nov 10th 2015, 10:53 pm
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Default Re: Citizenship to investors.

Originally Posted by bob_grenada View Post
Happens the world over, non citizen businessmen or ex politicians are used because they have influence, or simply credibility.
I think you may be right in this case. I wonder how much he donated and whether it was done for immunity or simply his UK immigration status.
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Old Nov 4th 2016, 6:31 am
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Default Re: Citizenship to investors.

Originally Posted by themajor View Post
I might be wrong ...But St.Lucia is a British Colony and so in reality??? could lead to a British Passport? or am I wrong?
St Lucia has not been a British colony since it gained independence in the 1970's. So no British passport to be gained.
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