On 3rd of June 2024, the Government of St Lucia officially committed to the Caribbean Citizenship by Investment MoU agreement, as previously announced during the Caribbean Investment Summit 2024. This marks a significant step toward regional cooperation and economic development across Caribbean countries.
The four original signatures to the Memorandum of Understanding were Antigua and Barbuda, Dominica, Grenada, and St Kitts and Nevis, with St Lucia abstaining. However, in light of recent developments, St Lucia’s government selected to join the agreement, including the unified minimum investment, which is expected to increase to $200,000 by 30 June, 2024, signaling a new era of collaboration and a commitment to the shared principles of CBI programs in the region.
St Lucia’s Participation in the MoU
The press release by the Government of St Lucia highlighted the following steps to strengthen the country’s program and the regional initiative:
- Legislative changes to resolve change-of-name requests.
- Minimum net worth requirements for CBI applicants.
- Holding escrow accounts in St Lucia or individual islands.
- Overhaul of the application process by requiring licensed promoters to submit applications to local authorized agents.
- Preliminary due diligence reports on each applicant are to be submitted by licensed promoters.
What St Lucia's Commitment Means for the Future of Caribbean CBI
With St Lucia joining the MoU and a collective stance across all five Caribbean countries that offer citizenship by investment, the agreement will enhance the integrity and efficiency of CBI programs while boosting mutual trust and shared endeavors.
Why use Global Citizen Solutions?
Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.
So, why work with Global Citizen Solutions to obtain St Lucia citizenship?
Global Citizen Solutions has been officially certified by the Government of St Lucia as an Authorized International Marketing Agent.
By holding this license, Global Citizen Solutions is allowed to promote and market St Lucia’s Citizenship by Investment Program, as authorized by the island’s Citizenship Investment Unit (CIU).
This also means that we have exclusive rights to act as a CIP International Marketing Agent for St Lucia.
You can find a copy of our certificate by clicking the image on the left.
