St.Lucia NEF Contribution
The Saint Lucia Citizenship by Investment Program was established in December 2015 following Act No. 14 of 2015, the Citizenship by Investment Act on 24th August 2015 which facilitates granting of citizenship to foreign investors.
Legal Basis
The Saint Lucia Act No. 14 of 2015 establishes the Saint Lucia National Economic Fund (NEF) eligible investment option under CIP programme. The Saint Lucia National Economic Fund is a special fund established under section 33 of this Act for the special purpose of receiving qualifying
investments of cash for funding government sponsored projects.
NEF Functions
The Contributions paid to National economic fund are used for the following purposes:
(a) to advance loans for a Government approved capital project;
(b) to provide investment for a Government approved capital project;
(c) to reduce Government debt;
(d) to purchase Government bonds;
(e) to provide monies for a purpose approved by Cabinet that is not considered recurrent in nature.
Contributions
When applicants apply for citizenship, one of the options available to them is that they can opt for a monetary donation into the Saint Lucia National Economic Fund. The minimum that has to be donated is US$240,000 based on revised legislation to the CIU. Once the applicant has been granted citizenship and has been informed accordingly, the applicant will pay the amount into the Bank account of the Unit.
The Revised fees apply from 2024.
| Category | Contribution (USD) |
|---|---|
| Applicant alone with up to three other qualifying dependents | US$ 240,000 |
| Each additional qualifying dependent (Under 18 years of age) | US$ 10,000 |
| Each additional qualifying dependent (Above 18 years of age) | US$ 20,000 |
| Newborn child of a citizen who is 12 months of age or below | US$ 5,000 |
| Spouse of a Citizen | US$ 35,000 |
| Qualifying dependents of a citizen other than a spouse | US$ 25,000 |
Additional Fees
Application Fee
- Main Applicant: US $2,000
- Each qualifying dependent: US $1,000
Due diligence Fee
- Main Applicant: US $8,000
- Each qualifying dependent: US $5,000