The St Lucia CBI program has several options available to satisfy the required investment amount. Until recently, the low St Lucia citizenship cost was mostly attributed to their National Economic Fund (NEF) option. Indeed, the NEF has the lowest cost donation option for single applicants. However, it obscures alternatives which may have a lower actual cost – especially for families.
Case in point would be St Lucia’s option to purchase government bonds which can be sold at the end of the holding period while retaining St Lucia citizenship in perpetuity. Additionally, shifting global economics caused by the pandemic have made this option even more compelling.
The minimum US$500,000 bond purchase was reduced by 50% to US$250,000 in May 2020 when the government transitioned the original program to the “COVID-19 Relief Bond”. Although the “special offer” was set to expire on December 31, 2020 it has been extended an additional year till December 31, 2021.
As a result, the COVID-19 Relief Bond will continue to offer significant savings for all applicants, especially families. Review the cost tables below to see what works best for your situation.
St Lucia Citizenship Cost Analysis (Family of Four)
(Main applicant + Spouse, 2 child dependents <16 years)
| Program | Investment Amount | Total Cost |
| COVID-19 Relief Bond | US$250,000 (6 Year Holding Period) US$12,500 Due Diligence Fees US$30,000 Government Admin Fees US$5,000 Government Processing Fees US$12,500 Professional Fees | $310,000 Total |
| NEF | US$150,000 NEF Contribution US$12,500 Due Diligence Fees US$5,000 Government Processing Fees US$12,500 Professional Fees | US$180,000 Total |
| Cost Comparison | US$310,000 – US$180,000 = | US$130,000 NEF Cost savings |
COVID-19 Relief Bond Reduces the real St Lucia Citizenship Cost
For a family of four the investment amount is $250,000 (6 year holding period) or $300,000 (5 year holding period). Since the bonds can be sold at the end of the holding period, the primary advantage allows investors to recover the investment amount while retaining their St Lucia citizenship in perpetuity. As a result, it competes very well against the NEF program which is non refundable.
| COVID-19 Relief Bond | Actual Program Cost |
| Investment Amount (family of 4) | US$310,000 |
| Proceeds from Sale | (US$250,000) |
| Net Cost | US$60,000 |
Indeed, the gap narrows significantly when factoring in the proceeds from the government bond sale!
| Programs | Actual Cost |
| National Economic Fund | US$180,000 |
| COVID-19 Relief Bond | US$60,000 |
| Cost Difference | US$120,000 Potential Savings with Bond Option |
St Lucia Citizenship Cost vs Benefits Comparison
In contrast to real estate, government bonds are less susceptible to market forces and more easily sold. This is especially true on St Lucia, where only one real estate development project has been approved for CBI. Additionally, with the introduction of the COVID-19 Relief Bond, the US$300,000 price tag on the real estate program is no longer price competitive.
Is St Lucia at risk of default? St Lucia is a small country and it is not covered by the large ratings agencies such as Moody’s or Fitch. However, according to the Sovereign Wikirating Index, St Lucia’s sovereign bond rating is BBB- with a negative outlook.
This indicates that St Lucia is rated about average when compared to the 186 countries that are included in the index. Additionally, the negative impact of the global pandemic is already factored into the ratings. Indeed, many analysts feel we are at an inflection point in the fight against the virus. Therefore, St Lucia’s bond ratings could see some notable improvement in the near future.
COVID-19 Relief Bond has a Bright Future
Skepticism is warranted because St Lucia’s economic health is very dependent on tourist revenues which have diminished considerably as a result of the global pandemic. But with the widespread vaccine distribution to countries such as the United States and UK, Caribbean tourism is expected to recover quickly as the threat of the pandemic fades.
Indeed, vaccine optimism remains strong according to this recent post by Royal Caribbean International. As a result, the COVID-19 Relief Bond remains a compelling option in contrast with the non-refundable NEF contribution.
Nonetheless, for applicants who do not wish to maintain the requisite holding period or be concerned with market economics, the NEF is most competitive, especially for single applicants.
Conclusion
St Lucia citizenship by investment offers a compelling second passport opportunity that can be obtained within 60-90 days. As a result, successful applicants have an effective means at their disposal to protect their family, their wealth and their freedom.
iGlobal is well integrated locally which enables you and your family to acquire St Lucia citizenship at the lowest possible cost in the most efficient manner possible. Additionally, my partners and I have a combined 35+ years of experience working with the Caribbean citizenship programs.
Contact me to begin your journey to global access and economic freedom. As our client, you can rest assured we have walked in your shoes on the path to global citizenship. Furthermore, we will remain at your disposal as you transition to life outside your country of origin.