St. Lucia CIP Extends COVID-19 Relief Bond Option

Special COVID-19 Relief Bond Extends in St. Lucia’s CBI Program

The “Special COVID-19 Relief Bond,” which was first proposed in May 2020 as a way to raise additional government revenue during the crisis, has been extended for another year by the Cabinet of Ministers of St. Lucia. According to a circular issued to authorized agents by the St. Lucia CIU, the relief bond option, which was supposed to expire at the end of this month, will now be available until (at least) December 31, 2022.

This plan necessitates the procurement of USD 250,000 in non-interest yielding bonds for a household of four rather than paying for USD 500,000.

• A single applicant is required to hold the bonds for 5 years
• A married applicant is required to hold the bonds for 6 years
• A family of four is required to hold the bonds for seven years. If a family invests $300,000 in bonds, the hold period can be cut in half, from four to five years.

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