Henley & Partners, an international citizenship and residence advisory firm, has announced plans to launch a new office in St. Lucia.

The new facility will be the firm’s fourth office in the Caribbean, and will work closely with the St. Lucia government to promote the firm’s new citizenship-by-investment programme.

The office will be headed by managing partner Mark Maragh, who is a local attorney-at-law.

“The program is the newest investment migration program in the region, having launched just over a year ago. St. Lucia has great value to offer, especially to single applicants as they can benefit from the most competitive investment threshold in the region,” Maragh noted.

The programme will offer citizenship through four routes, namely a contribution of $100,000 (for single applicants) to the National Economic Fund, a real estate purchase of $300,000 with a five-year holding period, an investment of $3.5m into an approved enterprise project, as well as an investment of $500,000 into government bonds.

“Currently most of the island nation’s GDP comes from tourism, but there are significant opportunities to attract foreign direct investment through its citizenship-by-investment program.

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“There has been a sharp increase worldwide in the number of individuals wanting to acquire a beneficial second or third citizenship to globalize their family’s opportunities and expand their business interests in a changing and uncertain world,” Maragh added.