Saint Lucia Launches New Covid-19 Relief Bond

• Posted on May 12, 2020
• In St. Lucia

Limited Time Offer available until 31 December 2021.

Global Citizen Webinar Series – May 12, 2020 – A new investment option was announced by Prime Minister of Saint Lucia, Hon. Allen Chastanet, during Arton Capital’s Global Citizen Webinar Series dedicated to the Saint Lucia Citizenship by Investment Program.

“The newly launched Covid-19 Relief Government Bond comes at a critical time, as a short-term concessionary opportunity thanks to our rapid response to the pandemic,” shares Hon. Allen Chastanet.

What is the Covid-19 Relief Bond?

Investment in the Covid-19 Relief Bond not only qualifies the applicant for citizenship but also 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, Saint Lucia aims to replace existing debt and ease the pressure on the government.”

The investment levels are:

US$250,000:

• Single applicant, 5-year hold period 
• Applicant with 1 dependent, 6-year hold 
• Applicant with up to 4 dependents, 7-year hold.

US$300,000:

• Applicant with up to 4 dependents, 5-year hold.
• Up to 4 additional dependents can be added at US$ 15,000 per person. 

Although processing fees have been waived, there is a fund administration fee of US$30,000. 

Update: Saint Lucia’s limited time Covid-19 Relief Bond has been extended until December 31st, 2021.

In addition to the new investment option, amended procedures and changes were also announced to the program, making it more attractive to the increased demand of foreign investors. This includes pre-processing of law enforcement to help streamline the investment procedure as well as launching a remote way to proceed with file transfers, due diligence, and payments entirely online.   

Changes to the National Economic Fund

Significant changes were also made to the National Economic Fund (NEF), offering investors and their families a decreased investment for a Saint Lucian citizenship.    

The new NEF contribution levels are:

• US$100,000 for a single applicant remains unchanged 
• US$140,000 for an applicant and spouse, down from US$165,000  
• US$150,00 for an applicant, spouse, and 2 dependents (family of 4) down from US$190,00  

The US$ 50,000 administrative fees have also been reduced to US$30,000.  

Opening the island’s borders

During the Global Citizen Webinar Series, Saint Lucia’s Prime Minister also announced the island’s plan to open their borders as of June 4th, 2020. 

“After much preparation, we have made the decision to co-exist with Covid-19 until a vaccine has been found,” shared Hon. Chastanet. 

The island’s leaders have been working closely with Harvard University and other leading institutions to develop systems to securely open their borders to visitors and tourists. In addition to diligent testing and sanitizing procedures, Saint Lucia has also opened a dedicated respiratory hospital and has flown over 100 specialized doctors from Cuba to be available on the island as a precaution to increased travel.  

“Saint Lucia has acted swiftly and responsibly to ensure that the detriments of this pandemic would not harm their economy, their people, and all other stakeholders,” shared President of Arton Capital, Armand Arton. “The new social impact bond allows investors and their families an alternative to protect them against any future crisis and offer Saint Lucia an economic stimulus at the same time,” he added.

Although Saint Lucia Citizenship by Investment Program is the newest in the Caribbean, it is continuously striving to offer the best option to foreign investors. 

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