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Comprehensive Walkthrough For Acquiring St Lucian Citizenship

Island of the Iguanas

The legend has it that the initially referred-to Island of the Iguanas was known originally by the Arawak Indians. But, there are stellar sequences that led to St Lucia becoming an island nation packed with archaeological sites and museums, and towered by the Pitons, let alone being recognized as a National Landmark. 

Island of the Iguanas

Historians would constantly discuss how a pirate named François “Peg-Leg” Le Clerc colonized the island and how its volcanic origin is the cause for soothing mud pools, lush vegetation, and iconic Sulphur Springs. With everything said and done, this island paradise is a haven for tourists and residents, attracting people seeking Saint Lucia citizenship by investment to achieve a profound sense of independence, asset security, and a cultural reset. 

In totality, it is an ideal Plan B. 

Why Saint Lucia Citizenship by Investment? 

The chance to acquire a passport from a nation renowned for having the highest concentration of Nobel Prize winners per capita doesn’t come around often. Both Derek Walcott (literature) and Arthur Lewis are testaments to this Caribbean nation’s scholarly society 

As a country offering Citizenship through Investment Programs, what exactly resonates with potential investors? Perhaps a secure and stable economy, coupled with the utmost living standards for interested applicants and their families. Speaking of St Lucia’s infrastructure, the nation boasts modern healthcare facilities and a significant tourism industry that tends to contribute approximately 80% of the total GDP.  

Yet another contributing factor to international interest is the island’s tropical climate year-round, which further makes it inviting for investors to make the most of it.  

Discussing Saint Lucia Citizenship Program 

Ever since the government reduced the minimum investment fees from USD 200,000 to USD 100,000 and removed the wealth check from the program in 2017, it has experienced a surge in applicants. Applicants who not only seek a Saint Lucia passport but wish to contribute to the island nation’s growing economy.  

Investment fees

In summary, Saint Lucia citizenship by investment offers convenience, affordability, and a myriad of options to meet your investment preferences, three of which are discussed in the rundown. 

1. National Economic Fund (NEF)

If you’re an aspiring investor willing to acquire a St Lucia passport, the first and most affordable option is to make a non-refundable donation to the NEF, which, in a way, finances a magnitude of government-sponsored assignments aimed at boosting the nation’s economy.

See Also:  St. Lucia Citizenship by Investment Program

This course of action entails a one-time contribution, starting at USD 100,000 for a single applicant. This is one of the straightforward routes often chosen for its swift and simplistic processing.  

Here’s a brief breakdown: 

  • USD 100,000 for a single applicant 
  • USD 140,000 for the primary applicant and spouse 
  • USD 150,000 for a family of four 
  • USD 15,000 each for additional qualifying dependents. 

As is understood, each application comprises administrative and processing fees. A primary applicant thereby must pay USD2,000 in processing fees and USD1,000 for every enrolled dependent. Furthermore, due diligence fees will account for USD 8,000 for the primary applicant and USD 5,000 for any dependent above 16 years of age.

2. Real Estate Investment 

When it comes to Saint Lucia citizenship program, real estate investments are bound to be a part of them. In this case, St Lucia is no different.  

Real Estate Investment

 

With a minimum investment of USD 200,000, a potential investor could buy a property, but only from the officially pre-approved record of properties for real estate investment. Due to the program’s relative infancy, the pre-approved real-estate options are not abundant. Consequently, it is quite common for these projects to be priced a bit higher. 

Moving on, anticipate investing in a posh hotel or resort. They will often be a little pricey, which is a common occurrence with CBI programs that mandate that you purchase real estate from a pre-approved list. That said, in such investment opportunities in Saint Lucia, an investor must the property for at least five years.  

As brought forward in the preceding investment structure, there are a few additional fees an applicant has to bear. The breakdown is mentioned below:

  • USD 30,000 in administrative fees for the primary applicant  
  • USD 10,000 for each qualifying adult dependent and USD 5,000 for those under 18. 
  • USD 8,000 in due diligence for the primary applicant and USD 5,000 for each qualifying dependant over 16 years of age 
  • USD 2,000 in application fees for the primary applicant and USD 1,000 for every dependent 

3. Government Bond Investment

Did you know an applicant can qualify for a Saint Lucia Citizenship by Investment program by investing in government bonds? 

St Lucia is only one-of-a-kind nation that made it possible for bond investors. Previously, St Lucia citizenship requirements were at least USD 500,000 in non-interest-bearing bonds held for five years. However, the government made considerable changes to the investment route due to COVID-19.  

In lieu of the initial minimum investment of USD 500,000, applicants can now invest USD 300,000 in NAB with a hold period of half a decade. That being said, there are other additional fees listed in the rundown 

  • USD 50,000 in non-refundable administrative fees for applicants purchasing government bonds 
  • USD 8,000 in due diligence fees for the primary applicant and USD 5,000 for every dependant over 16 years of age 

Advantages of the St Lucia CBI Program 

Why would an investor invest in citizenship by investment Saint Lucia program? It’s clearly for the benefits of free movement across several countries, banking services in the European Union region, and tax optimization. 

Since you’re already versed in the investment options, let’s discuss a few benefits that the program brings with it.

1. Global Mobility

Global mobility simply implies gaining access to multiple countries without having to undergo visa formalities. Among 146+ St Lucia visa free countries are the states from the Schengen region. In addition, its passport holders can travel to Singapore and Hong Kong without any documentation or paper formalities. 

Global Mobility

As St Lucia is one of the former British colonies, it’s part of the Commonwealth of Nations, which allows the island state’s citizens to travel to the United Kingdom without a visa.  

2. Tax Optimization 

While the island nation has low taxes, some are not paid at all. For instance, tax on foreign income is not taxable. Plus, there are no capital gains or inheritance taxes.

Since the government has designed favorable conditions for companies, financial reporting is accomplished through international IFRS standards. Ultimately, dividends won’t be taxed. 

3. Offshore Sector

Compared to its counterpart Caribbean islands, St Lucia boasts a dynamic international offshore sector, enabling citizens to be a part of financial ministrations, such as trust openings and international company formations.   

4. No Minimum Stay

Love the island nation but can’t get your family to live there year-round? That’s not an issue.  

St Lucia does not tend to impose any minimum stay requirement, giving an applicant the flexibility to come and go freely. 

Abode Options – Benefit From Our Expertise 

Unlocking your investment journey doesn’t come with a one-size-fits-all key. To be specific, an investment plan must be threaded with your aspirations and goals. It’s fundamental for your financial faculties to correspond with the right investment strategy when it comes to acquiring St Lucia citizenship by investment. 

And when that happens, enter Abode Options. Founded with an objective to facilitate second citizenship and passports, we pave the route for an aspiring investor to fuel business growth, explore banking opportunities, make strategic investments, and expand your horizons into uncharted territories. From determining St Lucia citizenship by investment required documents to seamlessly applying for the passport, Abode Options can assist you. 

See Also: Citizenship by Investment 

The Bottom Line

Securing Saint Lucia citizenship via investment provides a hoard of benefits for families, including enhanced mobility with visa-free travel to many countries and substantial tax breaks.  

Whether donating to the National Development Fund to support real estate projects or investing in real estate, the process is intended to be simple and advantageous. Ultimately, by choosing the option that best suits your financial objectives and lifestyle preferences, you’ll want to understand Saint Lucia passport requirements and invest in the future rather than simply a second passport. 

As an investor, it’s crucial to understand the dynamics of this ever-changing industry. When that’s the case, we have a dedicated page on industry news and program updates, covering everything, including but not limited to Golden Visa requirements, Dominica’s CBI Program, and Portugal’s Golden Visa updates.

See Also:  Portugal Residence by Investment