St. Lucia’s Passport Benefits for Investors
St. Lucia is a country well-known for its vibrant culture, friendly environment, rich history, and heritage. People seek St. Lucia citizenship for visa-free travel, no minimum stay requirement, dual citizenship. Investors can especially enjoy perks from an investor-friendly tax system to services of EU banks.
Key Takeaways
- St. Lucia’s passport benefits include visa-free travel to 148 countries, a family reunification program, a fast application process, and the advantages of dual citizenship.
- The main benefits of getting citizenship in St. Lucia as an investor are its investor-friendly tax system, no minimum stay requirement, varied investment opportunities, and services of EU banks.
- The amount of the investment, application fees, and other costs can vary based on the number of dependents,
5 benefits of getting a St. Lucia passport
Visa-free countries: Holding a St. Lucia passport allows visa-free or visa-on-arrival access to 148 countries, making it a valuable travel document for many individuals. The countries include the Schengen Zone, the UK, and Hong Kong.
Family Reunification: One of St. Lucia's passport benefits is its family-friendliness. As an investor, you can include some of your family members in the application. The relatives you include should be:
- Spouse
- Children up to the age of 30, if they are financially dependent on the applicant
- Parents over the age of 55 if they are financially dependent on the applicant
- Unmarried siblings under the age of 18
Fast Process: Another benefit of the St. Lucia passport is a speedy process which usually takes from 3 to 6 months.
Beautiful Culture: St. Lucia’s culture, which is a vibrant blend of French, African, and English influences, stands out with its rich history, colorful cities, and lively traditions.
Dual Citizenship: Benefits of St. Lucia passport include dual citizenship allowance, ensuring that the holders of the passport can not only enjoy the privileges of St. Lucia citizenship but also hold their original citizenship and be connected to their hometown.
3 benefits of getting citizenship in St. Lucia as an investor
Investor-friendly Tax System
With a St. Lucia passport, you can benefit from a favorable tax system that includes no capital gains taxes, inheritance taxes, wealth taxes, or taxes on worldwide income. Companies in St. Lucia only pay income tax at 30%. Additionally, companies with annual sales turnover exceeding $150,000 are subject to VAT (value-added tax), with a standard rate of 12.5%.
No Minimum Stay Requirement
The benefits of a St. Lucia passport include the absence of a minimum stay requirement. This means that once you obtain citizenship, there is no mandatory minimum stay. This flexibility allows passport holders to travel freely, making it easier to plan short trips or travel for business or leisure without restrictions.
Varied Investment Types
St. Lucia citizenship by investment can be obtained in several ways, including:
- Contributing to the National Economic Fund (NEF),
- Investing in government-approved real estate,
- Participating in an approved enterprise project,
- Investing in government bonds.
How to get citizenship by investment in St. Lucia
Acquiring citizenship in St. Lucia means enjoying St. Lucia passport benefits. The most popular options for obtaining citizenship are
Contributing to the National Economic Fund (NEF)
Applicants must make a non-refundable donation to the National Economic Fund, which aims to improve the country's economy. The donation amount depends on the number of dependents in the application.
- Single applicant: $100,000
- Applicant with a spouse: $140,000
- Family with up to 4 dependents: $150,000
- Additional qualifying dependents: $25,000 each
- Qualifying dependent in addition to a family of four: $15,000 each
- Newborn child of a citizen (child of 12 months of age & below): $5,000
Investing in government-approved real estate
A real estate investment in St. Lucia involves purchasing property within a pre-approved development project. The investment amounts for this category are:
- Minimum investment: $200,000
- Government administrative fees for the real estate route: $50,000
Administrative Fees:
- Applying alone: $30,000
- Applying with a spouse: $45,000
- Applying with a dependent (over the age of 18): +$10,000 (per person)
- Applying with a dependent (under the age of 18): +$5,000 (per person)
- Applying with a spouse and 4+ dependents: $10,000 (per person)
Participating in an approved enterprise project
Option One: Single Investor
- Minimum Investment: $3,500,000
- Administration Fee: $50,000 (non-refundable)
Option Two: Joint Investment
- Total Investment: $6,000,000 (each investor must contribute at least $1,000,000)
- Administration Fee: $50,000 (non-refundable)
Option Three: Single Applicant
- Minimum Investment: $100,000
- Applicant with up to 3 Qualifying Dependents: $150,000
- Administration Fee: $15,000 (non-refundable)
Administrative Fees
- Applying Alone: $15,000
- Applying with a Spouse: $20,000
- Applying with Two Dependents: $25,000
- Applying with Three Dependents: $30,000
- Additional Dependents (each beyond 3): $10,000
Investing in government bonds
This option aims to increase the national treasury. For a single applicant, the minimum amount of investment requires $300,000 held for 5 years.
Other Fees
Investors should pay fees when applying for St. Lucia citizenship by investment program. The amount of fees is connected to the number of dependents.
- Processing Fees: $2,000 (for a single investor), +$1,000 (for each dependent)
- Due Diligence Fees: $8,000 (for the main applicant), $5,000 (for each dependent over the age of 16)
Required Documents
If you want to enjoy St. Lucia passport benefits and apply for citizenship, you’ll need to provide the following documents:
- Identification Documents: Copies of your passport.
- Photographic Evidence: Passport-size photographs.
- Birth Certificate: Copy of your birth certificate.
- Health certification: A certified medical examination form to ensure you don’t have any serious diseases.
- Criminal Background Verification: Confirming that you don’t have a criminal record.
- Marital or divorce documents: The copies of marriage certificates or divorce decrees.
- Financial Documentation: Financial records that will show the source of your investment.
- Evidence of Investment: Documents showing which investment option you chose and other applicable records (real estate contracts, enterprise agreements, donation confirmations).
- Applicant References: Letters of recommendation proving that you’re a good character.
Application Steps
Follow the mentioned steps to apply for St. Lucia citizenship:
Choose the investment type: Decide which option of investment fits you the most.
Gather the required documents: The applicant must gather all the necessary documents and fill out the application forms. The process of document preparation and submission can be overwhelming but with the team behind Mirabello Consulting Agency, it will become as smooth as possible.
Make the payments: Ensure that all fees and other costs are paid.
Submit the application: The application should be submitted to the St. Lucia Citizenship by Investment Unit (CIU).
Conclusion
To sum it up, there are lots of benefits of St. Lucia citizenship from dual citizenship to family reunification. Whether seeking new business horizons or simply looking for a secure and welcoming environment to call home, St. Lucia stands out as a good opportunity and prosperity in the Caribbean region.
