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St Lucia to sell citizenship to investors starting January

Published:Friday | October 9, 2015 | 5:28 PMAP
Dr Kenny Anthony, Prime Minister of St Lucia.

St Lucia will soon become the latest Caribbean country to allow far-flung investors to buy local citizenship.

Prime Minister Kenny Anthony told a "global citizens forum" in the wealthy principality of Monaco that St Lucia will start accepting applications for a citizenship-by-investment programme in January.

A Friday government statement said Anthony made the announcement at a gathering of investors, wealth managers and citizenship lawyers.

It's part of a trend in the Caribbean to boost revenue on islands struggling with oversized debt. The nearby islands of Dominica, St Kitts & Nevis, Antigua & Barbuda and Grenada allow global investors to secure local citizenship in return for a donation or investment.

The islands offer a much faster, easier and cheaper path to citizenship than countries with "investor visas" like the United States.