In recent years, St. Lucia, a Caribbean Island nation, has been making waves across the world of investment and immigration. The St Lucian Citizenship by Investment (CBI) Program has become more and more popular due to its many benefits.
In this article, we will delve into the different facets of the St. Lucian CBI program. From the program’s unique benefits to the cost, we will explore why this program is so popular.
Let’s Learn About St Lucia
St Lucia is an island located in the eastern Caribbean Sea. St Lucia was also known as Iouanalao and then Hewanorra by the native Arawaks and Caribs. The island has a population of 180,000 people and is well known for its natural beauty, with lush rainforests and white sandy beaches.
St Lucia is a major tourist attraction due to the range of activities it has to offer. Some of these include snorkeling, diving, fishing, hiking, and sailing. The island is also home to the Gros Piton. This is a set of volcanic mountains that rises to 800 meters. These volcanic spires are also a UNESCO world heritage site.
Now that we know a little bit about St Lucia, let us learn about its citizenship programs.
What Is a CBI Program?
Citizenship by Investment (CBI) programs will offer you the opportunity to gain citizenship in St Lucia as long as you make a significant contribution to the country’s economy.
Small countries such as Malta, Portugal, and Cyprus offer these CBI programs. The main aim is to attract foreign investment and ensure the economy’s smooth running. The Caribbean has several CBI programs. However, St. Lucia’s program is the most popular.
St. Lucia’s CBI program was first launched in 2015 and quickly gained popularity among investors around the world. St. Lucia is one of the most beautiful Caribbean islands, with its lush green forests and crystal-clear waters. In addition, the application for the Islands CBI program is quite quick and straightforward.
Benefits of St Lucian CBI Programs
1. Visa-free Travel
You will receive a second passport once you acquire citizenship in St Lucia. This passport can help you to travel visa-free to over 146 countries in Europe and Asia. These countries include Hong Kong and Singapore. In addition, a St Lucian citizenship will allow you to get a B1 or B2 visa to America. This visa will be valid for ten years.
2. Tax Incentives
St. Lucia has one of the best tax systems in the region. As a St Lucian citizen, you won’t be taxed for inheritance and capital gains. Any income you earn outside of St Lucia will not be taxed as a second citizen.
3. Business Opportunities
As a St Lucian citizen, you will be able to register your business as an international company. This will allow you to open bank accounts easily and trade using foreign currency.
Applying for a CBI Program in St Lucia
Before applying for a St Lucian CBI program, you must ensure you meet the minimum requirements. Some of these include:
- Being older than 18 years old
- Having a clear criminal record
- Being able to prove your net worth or financial status.
- A clear health report
Investment Option for the CBI Program
In St Lucia, you can choose from four types of investment options. These include:
a. National Economic Fund
This is a non-refundable donation to the St Lucian government. The minimum investment value is $100,000 for a single person. However, this can increase to $150,000 if you choose to apply with a family of five or more people.
b. Government Bonds
This investment involves buying a government bond of at least $300,000. This investment option is interest-free and can be redeemed in five years.
c. Real Estate Property
This involves purchasing a property that is worth around $200,000 or more. With this investment, you can only resell the property after five years. In addition, there is a $30,000 non-refundable fee.
d. Business Investments
This involves investing in a government-approved business project or company. The minimum amount is $3.5 million if you intend to invest alone. However, this can decrease to $1 million if you are investing with a group. In addition, this investment option has a $50,000 admin fee.
Everything You Need to Know About St Lucis’s CBI Program
St. Lucia’s CBI programs have become popular amongst investors and business owners across the world. The country offers some of the best and most competitive investment options.
St Lucia offers four different ways to acquire citizenship by investment. This citizenship is accompanied by top-tier benefits such as visa-free travel and tax incentives. This article highlights some of the many reasons why St Lucia’s citizenship by investment program is so popular.