If you are reading this article, then you are already aware of the lucrative Citizenship-by-investment program of St. Lucia. The first question that most of you ask is the four chief types of investment that makes you eligible for the resident status. You can pay Government bonds, contribute to the National Economic Fund of the country, invest in the real estate market, or contribute to the enterprises. The average processing time for processing the St. Lucia passport is two to three months. But if you are looking for the cheapest yet fastest investment option, then it is better to donate to the economic fund US$ 100,000 along with an additional $7500 as due diligence fee and $2000 as administration fee.
It is wrong to apprehend that anyone with the money for investment can procure the citizenship of St. Lucia. There are many other eligibility factors for procuring resident status. You cannot be less than 18 years of age to acquire citizenship, even if it is through investment. You need to disclose all the documentation as evidence to support your financial status for investing. The processing fee, along with the due diligence charge and the administrative fee, is non-refundable.
There are always controversies on who can be the principal applicant. Legally, if you are the head of the family, you can be the principal applicant when you invest in procuring St. Lucia citizenship. You have the authority to sign all legal documents on behalf of the dependent family members. Your spouse and child, who is less than twenty-one years of age, qualify as dependent applicants. If your child is below thirty years of age but still financially dependent on you completely, the person will qualify for citizenship. The same applies to your parent, who is above fifty years of age, but financially dependent.
Know the fee structure
You have to go through the FAQs on their site once you have decided to invest in acquiring citizenship. You can get the details of the fee structure only from the websites. For instance, the Government Bond is a five-year holding bond, and you have to pay US$500,000 if you are applying only for yourself. But if the application includes the citizenship appeal for your wife, the amount will be US$535,000. The amount will further rise to US$550,000 if you are including two other qualifying dependents. After that, you have to pay US$25,000 for each qualifying dependent.