Investment in an approved real estate project (Real Estate)
The Cabinet of Ministers will consider real estate projects to be included on the approved list for the Citizenship by Investment Programme. Approved real estate projects fall into two broad categories:
Once approved, the real estate project becomes available for qualifying investments from applicants for citizenship by investment.
The applicant is required to execute a binding purchase and sales agreement for an investment in an approved real estate project. Investments, equalling the agreed purchase price, are deposited in an approved irrevocable escrow account managed jointly by the developer and the Citizenship by Investment Unit in Saint Lucia.
Once an application for citizenship by means of an investment in a real estate project has been approved, the following minimum investment is required:
On approval of an application by means of an investment in an approved Real Estate, the minimum investment of US$300,000.00 plus the applicable administrative fee referred to above is required. Before citizenship is granted, the applicant must:-
(a) execute a binding purchase and sale agreement for the investment in the Real Estate; and
(b) ensure that any outstanding balance of the agreed purchase price is placed in an approved irrevocable escrow in Saint Lucia, within 30 days of receiving an approval.
The beneficial ownership of the investment through a company established and maintained under the laws of Saint Lucia is allowed. The investment cannot be sold or transferred for a period of at least 5 years after the granting of citizenship.