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St Lucia Considering Citizenship For Investment Program

by Amanda Banks, Lowtax.net, London
14 April, 2014

Saint Lucia is expected to announce the launch of an "economic citizenship program," which would grant wealthy foreigners citizenship in exchange for investment to boost the local economy and tax receipts.

The announcement is expected in the territory's forthcoming 2014/15 Budget after comments from the territory's Prime Minister Kenny Anthony to local media.

Admitting the measure may prove unpopular, he said: "This is a difficult environment perhaps calling for different responses."

"I think we cannot close our eyes because it's an option we may have to consider, and in so doing we may have to look at the experiences of other countries."

Similar programs have been recently introduced in the region, including in Dominica, Saint Kitts and Nevis, and Antigua and Barbuda.

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