A Brief Overview of Saint Lucia Citizenship by Investment Program
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Introduction Saint Lucia is another awesome island in the Caribbean. It is one of the 13 sovereign nations in the Caribbean. It has its defined territory. There are lots of smaller islands connected to St. Lucia known as Lesser Antilles which are a chain of volcanic islands. Most of the volcanoes in Saint Lucia are now dormant. These islands provide for an adventure exploration for the locals there. There are many natural hot springs and bubbling mud springs in and around Saint Lucia where people can simply enjoy and relax their bodies.
The east coast of the island is surrounded by Atlantic Ocean. This country offers Saint Lucia Citizenship by Investment program to all interested high net-worth investors to help the country grow. It is one of the smallest islands in the area. It is only 43 kilometers long and 23 kilometers wide and within this area, one can get exposed to varying landscapes. Thus it is one of the most attractive islands in Caribbean. The island is known for the fauna and flora found here. It has the most amazing bird species here. There are in total 157 bird species living here with 5 rarest species of parrots alone. The surrounding water is absolutely clean, thus having a jubilant marine life which is easily seen by the naked eyes.
2 to 4 types of turtles are seen by visitors to the beach on a regular basis. There are quite a few indigenous groups still living in theisland. The name Saint Lucia was given to the island by the Europeans who arrived there. France and English both fought to have a gain on the country. The population of Saint Lucia is close to 170,000 and it is rich in culture. The food, the local music and the atmosphere have always dragged quite a number of tourists into the country. The country’s economy mainly depends on the agriculture and tourism. Exploring these could be one of the greatest Saint Lucia Citizenship benefits.
This program was established in the year 2015. Saint Lucia offers its citizenship along with its second passport to all those investors who have a strong interest to invest in the country. With the St. Lucia second passport one can travel to more than 130 countries visa free. The investor will obtain second citizenship. St. Lucia has no obligations about its new citizens maintaining dual citizenship. This program entitles the investor to become citizen of Saint Lucia without having to renounce the investor’s current citizenship. The program is very simple and it would take less than 4 months for the investors to get their new citizenship. Anybody from across the world who can make the investment is eligible for citizenship of the country.
The investor would not need to live in the island for even a day. He need not travel to the country too either. The country has easy tax regime. There is no wealth tax or gift tax or inheritance tax or foreign income tax or capital gains tax levied on the new citizens of the country. The Saint Lucia CBI program allows the new citizens to not have to pay any personal income tax either. The main applicant can be accompanied by his or her spouse and children below the age of 25 years. The parents of the main applicant or their spouse who are above 65 years of age can accompany to obtain citizenship of the country.
To buy Saint Lucia Citizenship, the island has come up with 2 programs. One is the contribution towards St. Lucia National Economic fund and the other is St. Lucia Real Estate Investment program. If the applicant is applying as a single, then he or she will be contributing a minimum of USD $100,000 to the National fund, while if accompanied by spouse, they will be making a contribution of USD $165,000. If a family of 4 is applying where there are 2 are dependents on the main applicant, then the contribution value is 190,000 and for every additional dependent there on, they will need to pay an extra USD $25,000.
The investor can purchase pre-approved real estate in the country. And to qualify in this path, the investor will need to pay USD $300,000. Apart from this, the main applicant will need to make a payment of USD $50,000. For every qualifying dependent below the age of 18 years, they will need to pay an additional USD$ 35,000 and for every qualifying dependent above the age of 18 years, they will need to pay an additional USD $25,000.The country does not accept direct applications. The investor will need to apply with help of international investment immigration expert to successful invest and migrate. SOURCE: https://www.apsense.com/article/a-brief-overview-ofsaint-lucia-citizenship-by-investment-program.html
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