Globally, nearly 5,000 people receive a second citizenship annually via a Citizenship by Investment Programme (CIP), 30% of whom are millionaires seeking new business opportunities or favourable tax systems. Others are simply interested in a change of scenery as they plan their retirement or in search of better healthcare or education prospects.
Nearly one hundred countries now offer a residency permit or Citizenship by Investment Programme. Depending on the country and programme being offered, participants can gain a second citizenship for a minimum investment of between US$100,000 to US$2.4 million.
With revenues generated from Citizenship by Investment Programmes and Residency Programmes accounting for as much as 30% of the gross domestic product (GDP) in the countries where they are offered, the programmes have become necessary. For example, with global GDP decreasing by 6.9% and in the European Union by 6.3% at the close of 2020, Citizenship by Investment Programmes have gained more importance, making up for the shortfall of revenue from other sources.
In 2020, the demand for Citizenship by Investment Programmes grew significantly among people from the United States, Hong Kong and South Africa, buoyed by the increasingly deteriorating social, economic and political environment in those countries. The COVID-19 pandemic is another major phenomenon responsible for the rise of Citizenship by Investment Programmes as people realize their native passports have lost some of their travel power.
For many people, a Citizenship by Investment Programme offers the security from volatile fallouts in their native countries where political instability often leads to deadly conflicts. Having spent decades earning their nest egg, they are often wary of losing it all overnight. As such, a “golden passport” not only offers participants financial protection, but also the peace of mind of knowing they can enjoy their golden years in comfort.
Analysts are already predicting that Citizenship by Investment Programmes will continue to gain upward momentum as the globe increasingly becomes a more interesting place to engage, explore and enjoy.
Enter Saint Lucia.
Since 2015, hundreds of people from across the globe have earned a second citizenship in Saint Lucia via the country’s much-talked-about and attractive Citizenship by Investment Programme. The island’s Programme sets it apart from other regional competitors due to its uncompromising commitment to e highest standards of good governance and ensuring rigorous due diligence.
At its core, the Saint Lucia Citizenship by Investment Programme is a strategic investment offering long-term growth and legacy options capable of yielding continued and exponential value for international investors. In October 2020, Chairperson of CIP Saint Lucia, Nestor Alfred, was quoted as saying the following:
The Saint Lucia Citizenship by Investment Programme remains a key source of funding for our island nation, which is why we are continuously and vigorously engaging with key external stakeholders, including governments and supra-national organizations, to ensure that our investors continue to enjoy the international market access and returns that drove their initial investment decision.
As an Authorized Agent for Saint Lucia’s Citizenship by Investment Programme, McNamara Citizenship Services Inc. recognizes the importance the Programme plays in changing the lives of our clients for the better. We have literally guided people from across the globe seamlessly to becoming citizens of Saint Lucia. We can also do it for you!
As a full-service advisory agency providing all the relevant services associated with your acquiring citizenship in Saint Lucia, our intimate knowledge of the Programme allows us to guide you through every stage of obtaining your citizenship.
Contact our capable team today!