anuny

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! "

uk_grenada

Grenada has had it for a while, 500k us investment.

BritInParis

No indication yet as to how much it will cost as far as I can see.

Pistolpete2

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.

themajor

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.

Pistolpete2

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.

themajor

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?

BritInParis

It'll be interesting to see how it will compared to St Kitts' programme.

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.

Pistolpete2

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.

Gordon Barlow

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/

uk_grenada

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.

BritInParis

He would be unlikely to receive diplomatic accreditation without citizenship.

uk_grenada

Happens the world over, non citizen businessmen or ex politicians are used because they have influence, or simply credibility.

BritInParis

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.

pgtips

St Lucia has not been a British colony since it gained independence in the 1970's. So no British passport to be gained.