Country overview

This is general info about crypto regulation in Saint Lucia. A more precise overview will be published later. However, if you find any inaccuracy or have other feedback - please write us in telegram @ilya_ii or by e-mail - editor@cryptopenetration.com

Saint Lucia is an island state in the Eastern Carribean. According to Worldometers (1) it has 180,000 population and 617 km2 area (2).

Based on GlobalcitizenCarribean (3) St. Lucia launched an investment citizenship program in 2015. Minimum amount of investments is $100,000 per 1 applicant or $150,000 for a family. It’s also possible to join this program by investing in the real estate - from $200,000.

The country also has launched in 2021 “Live It” program (4) for digital nomads.

  Based on U.S. department of state (5) recommendations Saint Lucia is relatively safe and needs normal precautions. That’s why Saint Lucia has a minor danger security level according to our rating.   

We have no information about crypto payments and their regulations in this jurisdiction. Probably since the first virtual asset bill was implemented in December 2022, the country still has no regulation for crypto payments. Please, contact us if you have this information.

No regulation.

In December 2022 Saint Lucia has officially implemented the Virtual Assets Business Act (6). There are 2 main regulators for crypto entites: Financial Services Regulatory Authority (FSRA) and local AML department - NAMLOC. The law defines the following types of virtual asset businesses which need FSRA registration: (a) an exchange between a virtual asset and fiat currency; (b) an exchange between one or more forms of virtual assets; (c) a transfer of a virtual asset, whether or not for value; (d) the safekeeping or administering of a virtual asset or instruments enabling control over a virtual asset; (e) participating in or providing financial services related to the issue or sale of a virtual asset.

On the FSRA site there is no information (7) about registered entities. These regulations are still in progress. In 2023 The National Anti-Money Laundering Oversight Committee (NAMLOC) has expanded the legal requirements for AML (8) in the cryptocurrency industry. You may find more information about St. Lucia’s AML policy in interview (9) of NAMLOC representative - Natalie Dusauzay.

Based on GlobalCitizenSolutions overview (10) local citizens need to pay the following taxes: personal income tax and social contributions. PIT has a progressive tax rate from 0% up to 30%. Social contribution rate is 5% of monthly income. Tax on royalties and interest is 10% for residents and 25% for non-residents. At the same time there is no tax on dividends and capital gains on the island.

Corporate income tax on St. Lucia has 30% rate. Also there is a tax deduction of 25,000 XCD ($9,300 USD) for every tax residend based on PWC taxsummaries (11). However, according to local tax authority IRD (12) tax deduction on personal income is $18,400.

1)👉🏻Saint Lucia Population Worldometers

2)👉🏻Saint Lucia Wikipedia

3)👉🏻Saint Lucia vs Dominica: a complete guide Globalcitizencarribean

4)👉🏻Saint Lucia Gov

5)👉🏻Saint Lucia Travel Rules U.S. department of state

6)👉🏻 Virtual Assets Business Act FSRA

7)👉🏻FSRA Saint Lucia

8)👉🏻Money Laundering Prevention Act St. Lucia

9)👉🏻 Stakeholders sensitized on Virtual Assets Business Act Government of St. Lucia

10)👉🏻St. Lucia Taxes Global Citizen Solutions

11)👉🏻Saint Lucia PWC taxsummaries

12)👉🏻IRD Saint Lucia