Saint Lucia Passport. Saint Lucia Citizenship Through Investments
Worldwide Incorporation Services specializes in Saint Lucia Citizenship Investment Programme.
Saint Lucia – General Information
Location: Caribbean, island between the Caribbean Sea and North Atlantic Ocean, north of Trinidad and Tobago.
Area: total: 616 sq km , land: 606 sq km, water: 10 sq km.
Natural resources: forests, sandy beaches, minerals (pumice), mineral springs, geothermal potential.
Population: 165,510 (July 2018 est.).
Nationality: noun: Saint Lucian(s), adjective: Saint Lucian.
Time Zone: UTC-4.
Languages: English (official), French patois.
Government type: Parliamentary democracy (Parliament) under a constitutional monarchy; a Commonwealth realm.
Legal system: English common law.
Economy: The island nation has been able to attract foreign business and investment, especially in its offshore banking and tourism industries. Tourism is Saint Lucia’s main source of jobs and income – accounting for 65% of GDP – and the island’s main source of foreign exchange earnings. The manufacturing sector is the most diverse in the Eastern Caribbean area. Crops such as bananas, mangos, and avocados continue to be grown for export, but St. Lucia’s once solid banana industry has been devastated by strong competition.
Currency: East Caribbean dollar (XCD).
Saint Lucia Passport Investment Program – Overview
Saint Lucia passport through investments is a reality and up for grabs for anyone around the world. Today, you can get Saint Lucia passport through investments. It is an unbelievable offer, and quite a number of people are taking the advantage.
A brief on Saint Lucia citizenship by investments
The program kicked off on December 2015. This was a result of the passing of citizenship by investments act on August 2014. The rules of the program are simple: any foreigner making a substantial economic contribution to Saint Lucia has the right to become a citizen. The investment can be a donation for development cause, or in projects and sectors predetermined by the state.
In January 2017, there was an amendment to the Saint Lucia citizenship by investments program requirements. The amount of donation to the National development fund was significantly reduced. The affidavit on declaration of financial sources for amounts at or exceeding $3 was also scrapped. The amendment also included an administrative fee for those investing in government bonds. There is also the option to sign oath of allegiance before an attorney or other relevant legal officers. It is that simple and you get your passport to be a citizen of this Caribbean nation.
Why a Saint Lucia passport through investments?
For the obvious reasons, Saint Lucia is a beautiful place. It’s volcanic mountains are a thing of beauty, and who doesn’t love nature? Bordering the Atlantic Ocean, you can never get enough of this Caribbean nation.
Secondly, people here speak English, French and Creole; so you will find a way to communicate if obtain Saint Lucia citizenship. On the economic side, Saint Lucia is not as rich as the Bahamas, but way better than Haiti. The place has a sense of laidback society and has all the excitements for a visitor who wants to stay longer.
Thirdly, the Saint Lucia passport through investments is one of the cheapest programs in the entire Caribbean. You only require a substantial amount of investment and you are in as a citizen. No wait time of years; a couple of months and you are in as a citizen. For single applicants, you have never seen anything affordable and fast. Saint Lucia is not the first Caribbean nation to offer such a program. Therefore, they have taken time to learn what has worked or not from their neighbors. Theirs is a flawless system that will get you a second passport without hassle. Besides, there is no backlog of applications so yours will sail through in record short time.
For the fourth point you may notice that Saint Lucia citizenship recognizes dual citizenship; you are not expected to give up your original citizenship to qualify for this program. Additionally, there is no requirement of residency. You do not have to live here to meet the requirements of the program. You can keep your permanent residence abroad if you so wish.
The mother of all reasons why you should take up the investment for citizenship from Saint Lucia is the fact that you may not pay taxes here. Well, before you get ahead of yourself, let me explain how this scenario works. Saint Lucia adheres to residence-based taxation system. This is to say if you do not live here, you are not obliged to pay taxes. Even if you partially live here, the country will only tax the income you make within its borders. There is a long list why the Saint Lucia passport through investments program should rattle your interest. We cannot have all of them here.
General terms and conditions
You will be surprised to know what is needed of you for the Saint Lucia citizenship by investments application. Here is the list of basic requirements for a potential applicant:
·Be at least 18 years old
·Have valid bank references. This is for the sake of ascertaining your ability to invest
·No criminal records. You should not be a criminal in any country
·Be in perfect health
With all the boxes checked, you should be ready to start your process of acquiring your Saint Lucia citizenship.
The step by step process of application
There are agencies that can do the heavy lifting for you. You only need to part with a small fee and everything will be done for you. Here is the general procedure on the application for Saint Lucia passport through investments:
1. Signing a contract with the facilitating agency – You only need your travel documents to sign this contract. You will be giving the agency the authority to make the application on your behalf. You do not have to be physically present for anything. This is done within a day.
2. Preparing your documents and papers – You will fill questionnaires with the help of a migration lawyer. Medical examination and fingerprints are all taken care of at this stage. It will take a week for everything to be ready for submission to the Saint Lucia government for scrutiny.
3. Due diligence – Your papers are now ready to be submitted to Saint Lucia authorities for scrutiny. Checks on your background and review of your application are now underway. It may take a month to three months before you get an approval.
4.Getting your passport – After approval of your application, you should take an oath. This can be done in Saint Lucia or in the country’s overseas embassy. If you got one in your home country, you do not need to travel to the Caribbean. You will then receive a naturalization certification and Saint Lucia citizenship within a week’s time. It doesn’t get easier than that, does it? In a couple of months you have your passport and a property or business to run in Saint Lucia.
Investment options to get you Saint Lucia citizenship by investments
The requirements for Saint Lucia citizenship are simple and straightforward. About the investment options, you have 4 choices to pick. You settle for what is comfortable for you but has to be one of the options as provided in the program. Let’s get into depth of each option, shall we?
1.Donation to National Economic Fund (NEF)
For a single person, making donation to the NEF is the cheapest and easiest way to gain your second passport. For someone who does not intent to live their entire life here, this is the soundest investment. For a single application, a donation of $109,500 is required. All other fees and charges are inclusive. For spouses, you have to make a donation of $180,500 inclusive of all charges. For a family of up to 4 members, you should make an all-in donation of $217,500. One of the obvious drawbacks of this option is once the money is gone, it is gone for good. You do not expect any kind of return. However, it is the cheapest route to gain Saint Lucia’s citizenship.
2.Buying property worth at least $300,000
Before you jump into this option within the framework of Saint Lucian citizenship by investments, make sure you know the kind of water you are dipping your legs into. Most a times, government-approved properties are overpriced and located in not-so-prime lands. You will pay a lot for them thus making it impossible to get any profits on resale. Saint Lucia, unlike Antigua where the likes of Eric Clapton and Oprah Winfrey have properties, has not been a preferable spot among celebrities.
There is a wide choice of luxury homes that will give you a scenic view of the ranges of mountains descending into the Atlantic. It is a temptation you cannot resist, but it will prove difficult when it is time to sale the property. For someone who wants to live at the heart of a rainforest, a laidback society with a range of green hills to boot; Saint Lucia fits that description. To qualify for this option you have to invest in government-certified property worth at least $300,000 and own it for not less than 5 years.
Currently, the approved properties range from high-end boutiques to luxury hotels. If you are lucky with your investment you can turn around the property and make your money back. If you are selling it after 5 years, you had better pray that the prices will have improved.
3.Buying an approved business on the Island
For someone into business, this is an option you can go with. The catch is, for an individual investor you should pump in at least $3.5m into a local business. You can choose to do it in partnership of two and invest at least $6m with each partner contributing not less than $1m. As compared to Antigua’s program, this option is a bit expensive but with a promise of assured profitability. It does not end there; you should create at least 3 employment opportunities for the locals. Some of the most promising businesses you can invest in include pharmaceuticals, infrastructure companies, Marinas and cruise ships, offshore universities, and agro-centered plants. As you make your choice of the kind of business to invest in, you should do some due diligence into the sector. Get to know what works best on the island. Do not make a blind investment if you want to get something out of your money.
4. Purchase government bonds
This option is a first for any Caribbean nation. It is only Saint Lucia that offers you this into gaining a second passport of Saint Lucia citizenship. You will not earn any interest from the bonds, and you have to keep them for 5 years. The bond investment threshold stands at $500,000. For someone who is not ready to donate, buy a property or risk your money in a business; investing in government bonds is the best route to your Saint Lucia passport through investments obtainment. Although you will not get a single penny as interest, you will get all your money back after 5 years. However, most people do not see the sense of investing half a million dollars in bonds that give you nothing for 5 years. They would rather give a one-time donation, which is far less or buy a property that has chances of appreciation. Whatever choice you make, it is at your discretion. You should make an informed decision and one that you will not regret.
Is the Saint Lucia citizenship worth the money and time?
There are a couple of factors that determine the power of a visa. The economy size is number one. With a passport from a big economy like the US, you are holding a gem. The other factor is the number of countries you can access without a visa. Climate and geography also play some roles in determining the potential of a visa. Based on these factors, how does a Saint Lucia passport through investments fare? The Saint Lucia economy is not big. She is somewhere in the middle of the pack when compared to other Caribbean nations. About countries you can access visa-free with a passport gained thanks to Saint Lucia citizenship by investments program, that number stands at 132. It is not a mean performance for such a small country. On climate and geography, Saint Lucia has a lot to offer. The island is beautiful and a place you would love waking up every morning.
By all measures, it is worth your money and time to get a Saint Lucia passport through investments. The process is easy, short and affordable. For anyone looking for a hassle-free way to get a visa; you got Saint Lucia in your favorite list.
Quick benefits of being a Saint Lucia citizenship:
– You do not have to live there;
– You continue to live in your mother country and still hold a passport to the island;
– Gives you the option to register assets and properties using the second passport;
– Visa-free entry to over 130 countries. Singapore and Britain are in that list
– You only pay residency income tax. Anything else you make outside the borders of Saint Lucia is not domestically taxed
It has never been easier to get a second passport than it is now. With some investment, you can be on your way to get a Saint Lucia citizenship by investments. The island is home to a thrilling coastline surrounded by green hills. The people are warm towards foreigners and you will feel right at home. Once you decide the route to take towards your Saint Lucia citizenship, the rest is easy. Hopefully, this article has been an eye opener to one of the easiest ways to second citizenship.
Worldwide Incorporation Services provides the following services in Saint Lucia:
- Saint Lucia Citizenship by investments
- Saint Lucia Passport