COVID 19 Relief Bond Option
The Citizenship by Investment Program was launched in 2015 and has its legal foundations in the Constitution of St. Lucia and the Citizenship by Investment Act, No.14 of 2015 as amended. The Program is the newest in the Caribbean
COVID 19 Relief Bond Option:
The Covid-19 Relief Bond is being offered as a direct response to the pandemic at only half the investment level of the normal bonds. Under the Citizenship by Investment laws, a client must invest $250,000 which is a 50% discount from the standard Government Bond option. However, this option is a limited offering valid until December 2020, and it does not replace the regular government bond option of USD $500,000.
The investment amount is to be paid only after the approval is granted along with the discounted administrative fee of $30,000. These Interest free Bonds must be held for minimum 5 years in exchange for citizenship and with each dependent the holding period increases. For an applicant with one dependent, the bond purchase also amounts to $250,000, but the holding period is extended to 6 years. For up to four dependents, the minimum bond purchase is either US$250,000 (at a 7 year holding period) or US$300,000 (at a 5 year holding period) and US$15,000 per additional dependent.
Upon maturity of the holding period, the investment is fully refunded to the client and the citizenship is permanent. This works out to be an economical option for clients, for example:
Family of 4 – Two Children below 16:
Total Upfront Cost: $345,700
Bond repaymentafter 7 years: $250,000
Total cost for family citizenship: $952,500
Total cost per passport: $23,925