Friday, March 29, 2024

Saint Lucia invites CBI applicants to invest in Govt Bonds

CIP Saint Lucia invited prospective CBI applicants to invest in Government bonds under the citizenship by investment program.  Currently St Lucia offers four routes for investment citizenship, one of which is buying government debt through bonds.

While donation option remains the most popular route with $100,000, the government bond option repays full $500,000 paid after five years without interest. The deposit is guaranteed by the Government of St Lucia.

CIP Saint Lucia
Please note applicants are required to pay additional fee USD 35,000 (spouse, main applicant) and USD 50,000 (family + 2 children)

The Debt management unit of the Ministry of Finance, St Lucia is responsible for issuing debt instruments. Recently the government issued bonds and bills.

  Country Auction Interest
6-Year
Treasury Bonds
Saint Lucia 01-March-19 6.250%

The Government of St Lucia also will be issuing treasury bills words ECD 20 million through bank of St Lucia on 26/May

A Treasury bill (T-Bill) is a short-term government debt issued in denominations ranging from $1,000 to $1,000,000. Treasury bills do not pay interest, but are sold at a discount and mature at par (100% of face value). Treasury bonds are long-term investments that have maturities of 10 to 30 years from their issue date.

ISSUER SECURITY TYPE DATE TENOR ISSUE SIZE MAX RATE PROSPECTUS
Government of Saint Lucia Treasury Note 26.05.2019 2 years EC$20.0M 4.50% (fixed) N/A

With Cyprus scrapping the issue of government bonds in exchange for citizenship from 15th May,  St Lucia and Turkey are the only CBI countries that offers full citizenship through government securities or bonds.

CBI Government bonds/securities
Malta Partial – (Donation EUR 650,000 + EUR 150,000 Bonds under IIP)
Cyprus  Not Available from 15th May 2019
St Kitts and Nevis No
Dominica No
Grenada No
St Lucia Yes (USD 500,000)
Vanuatu No
Turkey Yes (USD 500,000)
Vanuatu No

St Lucia since the launch of the scheme approved citizenship to 350 applicants for investment. St Lucia CIP remains popular among Chinese, Lebanese and also US citizens.  St Lucia received $37.3 million surplus from the CIP donation receipts as of 2019.

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment Journal. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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