Saint Lucia extends preferential offer for citizenship by investment program for one year
In Saint Lucia, the authorities have extended the preferential offer for their citizenship-by-investment program for one year. The current program was presented for the first time in May last year. The authorities of Saint Lucia initiated it in order to increase state revenues during the financial crisis.
To attract investors, the Relief Bonds option was activated, which allowed foreigners to count on obtaining a local passport for the purchase of government bonds worth over $250,000. Previously, under the same program, foreign citizens were required to invest funds in the amount of at least 500 thousand dollars.
The discount offer was supposed to expire on the last day of the month. Now the authorities of Saint Lucia have decided to extend the promotion for foreign investors until December 31 next year. For example, neighboring St. Kitts and Nevis refused to renew a special offer that was in effect under a similar program.