St Lucia’s Covid-19 Relief Bond Option, which was due to expire on December 31st 2020, will be extended to December 31st 2021.
What is the Covid-19 Relief Bond?
Investment in the Covid-19 Relief Bond qualifies the applicant for citizenship and guarantees the return of his investment after the prescribed time. According to Ryan Deveaux, Chairman of the Citizenship by Investment Unit of Saint Lucia, “with the Covid-19 Relief Bond, St Lucia aims to replace existing debt and ease the pressure on the government.”
The following investment amounts apply to investors who purchase non-interest-bearing government bonds by December 2021 under the temporary Covid-19 Relief Bond option:
- Main applicant, 5-year hold period
- Main applicant with 1 dependant, 6-year hold
- Main applicant with up to 4 dependants, 7-year hold.
- Main applicant with up to 4 dependants, 5-year hold.
Additional dependents can be added at US$ 15,000 per person.
A government administration fee of US$30,000 per application applies while processing fees are waived.
The main applicant must also pay a due diligence fee of US$7,500 plus US$5,000 for each dependant aged 16+.
Applicants wanting to obtain a passport after receiving their Certificate of Registration must pay a fee of US$150 per applicant.