Citizenship by Investment Programme
An overview of Saint Lucia
Saint Lucia is an island located in the Atlantic Ocean in the Caribbean, situated close to the islands of Martinique and St Vincent. This island with a total area of 620Km2 is mostly known for its two volcanic caps. This country is a member of the British Commonwealth and the United Nations bearing English as its official language.
Saint Lucia has developed a well-respected legal system based on the British law. This country is also an established member of the UNO and WTO, African, Caribbean and Pacific Group of States, Association of Caribbean States, Caribbean Community, Non-Aligned Movement, Organisation Internationale de la Francophonie, Organisation of Eastern Caribbean States and the Organization of American States.
This country’s currency is the Eastern Caribbean Dollar (XCD). Saint Lucia is known for having no capital gains or inheritance taxes and thus one shall not be taxed on any worldwide income if one simply holds a Saint Lucia Citizenship and are not residents.
Why should one opt for a Saint Lucia citizenship?
The Saint Lucia citizenship program has distinctive advantages for business growth and tax relief directed to foreign investors. A few advantages are listed below:
- Fast moving process – One can easily obtain a Saint Lucia citizenship with its fast-track process within three months.
- Affordable – The Saint Lucia citizenship is known to be one of the most cost-effective options with reasonable minimum investment requirements and processing and administration fees.
- Flexible – This second citizenship recognises dual citizenship such that anyone can also retain their current nationality.
- Secure – Saint Lucia is legal, economically and politically stable country. It also forms part of the Commonwealth holding democratic values.
- Holds tax advantages – No estate or inheritance tax on worldwide income are applicable.
- Practical – This program provides a Visa free travel to 121 countries including the EU Schengen countries, Hong Kong and the United Kingdom. In addition, there are no requirements to travel to Saint Lucia during any stage of the application and there is no need for a physical residency.
- Profitable – Real estate offers income and capital gains opportunity.
- Permanent – Saint Lucia citizenship is granted for a lifetime.
- Convenient – This country provides direct airline access to many regions of the world. In addition, there are no nationality restrictions for a Saint Lucia citizenship.
Who qualifies for a Saint Lucia citizenship?
The Saint Lucia Citizenship-by-Investment Program was brought forward in 2015. This program falls under the regulations of the Citizenship by Investment Bill. Saint Lucia has developed the program purposely for the global elite by raising the overall-net-worth requirement.
To be able to attain a Saint Lucia citizenship, all applicants must attain one of the investment perquisites, together with the following criteria:
- Be of an outstanding character.
- Hold a clean police conduct.
- Have excellent health conditions.
Investment requirements for a Saint Lucia citizenship
For anyone wishing to secure a second passport through the Saint Lucia Citizenship by Investment Program, one must also meet the investment requirements for one of the following investment options. The investment selections which we suggest are listed as follows:
Option 1: Saint Lucia National Economic Fund
For a single applicant: As from 1st January 2017 US$100,000
For a couple with no dependents: As from 1st January 2017 US$165,000
For a couple with up to two dependents: As from 1st January 2017 US$190,000
For additional dependents: US$25,000 each.
Option 2: Government Bonds
For a single applicant: US$500,000
For a couple with no dependents: US$535,000
For a couple with up to three dependents: US$550,000
For additional dependents: US$25,000 each
Under the program, all Government bonds need to be held for five years.
Option 3: An approved Real Estate Development
US$300,000 minimum investment
Plus additional fees for property registration, processing, and taxes.
Under the program, the real estate/property will need to be owned and maintained for a minimum of five years.
In addition to such, other fees such as the Due Diligence fee apply.
Steps and procedures to obtain a Saint Lucia second passport
Abacus Consulting shall carefully go through your passport copy for the Government’s pre-approval in the most efficient manner possible.
Abacus Consulting will provide all the information needed and notify applicants with regards to what documents are needed to fulfil the given checklist.
Once the application is carefully submitted the due diligence fees are paid.
The due diligence report is issued to the government for approval. Once the application is accepted the applicant is required to pay the investment requirements.
A certificate of neutralisation shall be issued in the applicant’s name, and the passport is issued one week later.
Abacus Consulting shall provide you with a full itemised quotation with no hidden costs pre-application. The only other costs associated with a Saint Lucia second passport are professional fees, official application forms, certificates and residency cards, courier and other disbursements.
For more information and a customised quotation