St Lucia is a Caribbean island state with a population of 180,000 that offers a Citizenship by Investment programme – an opportunity for investors to acquire lifetime citizenship in return for a one off investment in the country’s economy. Citizenship by Investment programmes give a second passport to investors that meet the programme requirements. St Lucia’s passport allows its holders to travel to over 130 countries visa-free.
Global Mobility with St Lucia’s Passport
Visa-free travel allows investors to access global opportunities such as improved options for business growth, access to higher quality services like education and health care as well as benefits like reducing their tax bill. St Lucia’s passport includes visa free countries in Europe (Schengen Area), the UK, Singapore and Hong Kong on its visa-free list.
Streamlined Application Process and Residency Benefits
St Lucia’s programme attracts investors through perks such as having no physical residency or visit requirements before, during or after an application. Passport holders through CBI don’t have to spend any time physically in the country to obtain and maintain their citizenship.
Legal Guarantees and Due Diligence
St Lucia guarantees its CBI programme in law, so successful applicants can be sure of the reliability of the programme. CBI programmes are operated through authorised agents that provide consultancy and technical support to programme applicants. Applicants to the programme must be able to prove a legitimate source of their investment funds and pass a security check (no criminal record) to be eligible for the programme. The due-diligence process includes an online interview of the main applicant to validate the source of funds for the application. The St Lucian CBI programme offers the ability to add family members to a single application, including spouses and dependent children.
Efficient Processing and Citizenship Rights
The processing time for an application currently takes 6-12 months after which, successful applicants will receive a Certificate of Citizenship and a valid St Lucian passport. This processing time is quicker than several other CBI programmes.
Successful applicants gain full citizen’s rights in St Lucia, including the ability to live, work and do business in the country, as well as being able to buy and sell property and open bank accounts.
Dual Citizenship and Confidentiality
Most countries, including St Lucia, permit dual citizenship so there is no need for applicants to renounce their current nationality or give up their original passport. Participation in CBI programmes is confidential and applicants’ details are never published or shared by the government.
Favorable Tax Rules and International Planning
St Lucia offers some favourable tax rules for investors with no tax on non-resident citizens as well as no tax on wealth, foreign income, inheritance, gifts or capital gains. With professional international tax planning, investors can use their access to multiple jurisdictions to legitimately reduce their tax bill.
Investment Options
There are three investment options for St Lucia citizenship by investment programme:
A contribution to the National Economic Fund, investment in a government approved real estate project, or investment in government bonds.
A non-refundable donation to the National Economic Fund is the cheapest option, with prices starting from $100,000 (USD) for a single applicant.
Investment in government approved real estate involves investing in the building of a hotel or resort area on the island. There is no opportunity to own a private property through the programme, though successful applicants can buy property as they wish, regardless of the investment pathway they chose, after receiving their passports. The real estate investment option starts from $200,000 (USD). Investment in government bonds starts from $300,000 (USD). In both the case of real estate and government bonds, the assets must be held for a minimum of 5 years. Dependants such as children under 30 and the spouse of the main applicant can be included in the application for smaller additional fees in the region of $25,000 (USD).
Conclusion
Dual citizenship and visa-free travel can be used to unlock a variety of benefits including an upgraded lifestyle, increased potential for business growth and a secure, global future for your children. One lesser known benefit is the insurance a second passport can provide against instability. Financial downturns, natural disasters and geo-political crises can have a smaller impact on your wealth and family if you diversify your assets and maintain immediate access to multiple stable countries. It is important to plan ahead, as when crises hit, it can be too late or impossible to find an immediate solution. A second passport allows your children to access improved education opportunities as well as other cultures and languages. Most investors use their second passport to grow their business or investment portfolio, optimise their tax efficiency and provide security for their families.
St Lucia’s CBI programme is designed to offer an attractive path to global mobility, with mutual benefits for investors and the St Lucian economy. St Lucia has established itself as having one of the world’s leading CBI programmes through its success and reliability, and it continues to be an attractive option at the current price point.
