However, Saint Lucia is looking to further compete and tip the scales in its favor, facilitating the investor’s choice by sweetening the deal with its new investment option. Aimed at broadening the program’s accessibility to a wider range of investors, Saint Lucia is positioning itself as the go-to Caribbean investment destination.
Saint Lucia Citizenship by Investment: The New Infrastructure Option
On February 5th 2024, the Saint Lucia Citizenship by Investment Unit, the entity responsible for overseeing the program, officially announced a new investment option – dedicated to Infrastructure - under the Enterprise Project category. Ever since Saint Lucia unveiled its investment immigration solution to the world in 2015, this category has been usually reserved for the highest investment amounts. Before the launch of the Infrastructure Option, the Enterprise Project category required a minimum of USD $3,5 million for a single applicant.
The Infrastructure Option demands a significantly lesser investment amount – USD $100,000 for a single applicant, or up to USD $150,000 for a family of 4.
The Enterprise Project category was originally designed as a platform for foreign investors to come to Saint Lucia and propose a project to assist in developing the country across multiple levels and sectors, including infrastructure. The newest investment option for the Enterprise Project facilitates investing in the country’s infrastructure. Namely, on the development, construction, and improvement of ports, bridges, roads, and highways.
The St. Lucia Infrastructure Option: Is it Worth It?
The launch of the new Infrastructure Option arrives unexpectedly but proves a welcoming addition. On the surface, one might wonder: what is the difference between this option and the National Economic Fund, if the latter already aims at enhancing the country’s infrastructure? The key difference seems to be in the type of investors Saint Lucia is targeting.
While the National Economic Fund offers a straight path to Citizenship, the new Infrastructure Option seems to want to captivate more investors who want to actively commit to Saint Lucia’s goals for more sustainable infrastructure development.
This, in turn, might mean a longer and more delayed process of obtaining a return on the investment, especially as the new infrastructure option will undoubtedly have to suffer growing pains. This contrasts heavily with the Real Estate category, which offers a simpler path to the Saint Lucia passport and the opportunity to recoup the original investment. Per the Global Passport Index, the Saint Lucia passport currently holds the 28th position, enabling visa-free travel to 137 countries.
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