News
St Lucia: Prime Minister Anthony reveals details of Citizenship by Investment initiative
Details of St. Lucia’s first citizenship by investment initiative was announced earlier this month, at the third annual Global Citizen Forum by the country’s Prime Minister Kenny Anthony.
The initiative will see foreigners for the first time gain citizenship and a St. Lucian national passport through investment in the country’s economy. The legislation was supported by all elected members of parliament, and the country will commence accepting applications for citizenship by investment on January 1, 2016.
Applicants will require a net worth of US$3 million to qualify and St. Lucia has set an initial limit of 500 applications per year. A citizen of St. Lucia will hold a passport that allows visa-free travel to 105 countries.
Armand Arton, CEO and founder of Arton Capital, said: “This is a ground-breaking announcement for all global citizens and of course for the country of St. Lucia. It will bring great benefits to the country’s economy, with investment set to increase dramatically, which will contribute greatly to St. Lucia’s national development.
“The announcement will allow high net worth individuals to access several benefits, such as visa free international travel to a large number of countries, increased security and flexibility while traveling, and it will act as an insurance in times of political or economic disorder elsewhere.”
Speaking at the Global Citizen Forum, Anthony said: “St. Lucia is a remarkable country that contributes to world civilization far beyond what is expected of our land size, population and gross domestic product. In some ways we have always been global citizens, we have given the world two Nobel Laureates, earning us the honor of having the highest number of Laureates per capita in the world.
“With this announcement, the country is now truly a member of the global citizen movement, and we look forward to welcoming our new countrymen and the positive impact they can make.”
Ernest Hilaire – chairman of the Saint Lucia citizenship by investment unit – added: “The exclusive new program, permitting only 500 applicants per year, with a minimum net worth of US$3 million distinguishes St. Lucia from other programs, and resonates with the country’s personable and luxurious surroundings.
“We are confident the new program will provide a platform for strategic developmental reasons whilst attracting individuals who are best placed to invest in St. Lucia.”
Considered the “Davos” of the global citizen industry, the Global Citizen Forum seeks to inspire change, provoke innovation, encourage engagement, and empower future generations during two days of debate and idea sharing.
