St. Lucia: Citizenship by Investment initiative begins January 1, 2016

St. Lucia’s Citizenship by Investment program is scheduled to begin in January 2016. The program was approved by the country’s senate a few months ago.

St. Lucia’s prime minister Kenny Anthony, revealed that the country would begin accepting applications from January 1, 2016. He made the disclosure as he addressed the recent Global Citizens Forum in Monaco.

Describing himself as a jealous guardian of St. Lucian citizenship, Anthony said the time had come to think beyond the traditional approaches, in order to deal with the myriad problems facing small states, and offering citizenship through investment has now become a viable alternative.

He told the gathering of citizenship lawyers, wealth managers, marketing agents, and investors that new citizens must enhance St. Lucia’s global standing and ensure that the country’s proud heritage endures.

The Senate passed the Citizenship by Investment Bill in early August, paving the way for St. Lucia to join Grenada; Dominica; St. Kitts & Nevis and Antigua & Barbuda in offering citizenship in return for substantial investment.

St. Lucia is expecting significant economic benefits from the initiative. -(CMC)