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Promoted by Homestead Success, the Saint Lucia Citizenship by Investment Programme (CIP) has been ranked top spot in “Best CBI” rankings for 2021, surpassing neighboring countries such as Dominica, St. Kitts, and Grenada.
Even though Saint Lucia is the latest Caribbean country to introduce its CIP, it does not compromise on transparency and due diligence in the entire application process. Such a high degree of adherence has consequentially formed a guarantee of credibility that personifies a second passport as a luxury item that only quality investors can attain. Quality, assurance, and trust form the foundation of the Saint Lucia passport.
Honourable Allen Michael Chastanet, Prime Minister of Saint Lucia
Ever since Prime Minister Allen Chastanet took office, Saint Lucia has gained an increasingly strong presence on the international stage. For instance, the Prime Minister has brought Saint Lucia to the United Nations General Assembly in 2020 and delivered a keynote speech. Earlier this year, he has led a special event at the World Economic Forum’s Davos Agenda where he shared a range of topics including his experience in governing, renewable energy as well as innovative financing with flexible mechanisms that aims to assist small island countries in developing and pursuing a sustainable and prosperous economy.
The government of Saint Lucia has recently announced that Saint Lucia was officially removed from the European Union (EU) list of non-cooperative jurisdictions for tax purposes. In meeting the new standards set, Saint Lucia has reset its International Financial Services Sector framework by moving to a territorial tax system where all companies incorporated in Saint Lucia can now operate both domestically and internationally and where foreign-sourced income earned by Saint Lucian companies is not liable to taxation provided the companies meet approved economic substance requirements.
Marigot Bay, Saint Lucia
Saint Lucia is heavily dependent on tourism, accounting for 65% of its GDP, and is the main source of the country’s employment, income, and foreign investments. Besides receiving an annual rate of over 900,000 tourists to its shore, Saint Lucia also attracts foreign companies namely offshore banking and tourism to set up and invest in the country. According to statistics provided by Saint Lucia Tourism Authority, the country’s tourism industry is expected to grow as much as US$416 million by 2028. And this figure is set to grow more with the development of the Pearl of the Caribbean in the south of its island.
The Pearl of the Caribbean is the largest integrated development project in Saint Lucia and the Caribbean. Currently, Homestead Success is the exclusive promoter for its two CIP-approved Real Estate developments – The Alpina Saint Lucia Hotel and the Alpina Square which are expected to yield high returns.
The Alpina Saint Lucia Hotel
Not only does the Pearl of the Caribbean received strong support from the Saint Lucia government, it has also become a prominent nation-building project. The development has created employment opportunities and introduced foreign investments to stimulate the economy. The project site spans across three locations in the Southern part of Saint Lucia. The project development includes cruise terminal facilities, integrated resorts, shopping malls, international racecourse, entertainment facilities, hotels, academic institutions, waterfront, and hilltop residences, as well as multi-purpose buildings.
The Alpina Saint Lucia Hotel, part of the Pearl of the Caribbean development project, is a Government Approved Real Estate projects under the Citizenship by Investment programme of Saint Lucia. In addition, the Alpina Square has also joined the Alpina Saint Lucia Hotel as Government Approved Real Estate projects. Thus, giving investors more choices. This fully demonstrates the efforts made by the Saint Lucia government to attract foreign investment and advance the country’s economic development.
The achievement of an earlier successful CIP application within 54 days established Homestead Success’s ability to produce quick results efficiently.