The Caribbean region offers various Citizenship by Investment (CBI) programs for those considering a second passport. So why St Lucia? In addition to its great physical beauty, St. Lucia offers participants in its CBI scheme the opportunity to enjoy numerous travel, economic, and lifestyle advantages. Keep reading to discover how the island’s CBI program attracts so many different types of St Lucia passport applicants from around the world. In addition to the program’s advantages, this blog will also outline the main economic ways to obtain St Lucia citizenship and the main St Lucia citizenship requirements, which all applicants must meet in order to enjoy the collective advantage for St Lucia citizenship.
Why St. Lucia?
The St Lucia passport ranking (it currently stands at 33 in the world) is one of the main reasons so many choose this island for their CBI. The St Lucia passport visa-free countries (the list of countries St Lucian passport holders can visit without a visa—or with simply an electronic visa) is rich and extensive. Highlights from the 140+ countries include the Schengen area—a group of over 20 European states, which contains France, Germany, Italy and Spain—among other top destinations on the continent. And although the United Kingdom is no longer part of the Schengen area, St Lucian passport holders are still able to visit England, Scotland, Wales, and Norther Ireland visa-free. In addition to Europe, a St. Lucia passport holder can visit much of close-by South America, which includes top destinations like Argentina, Chile, and Columbia. Outside the Western Hemisphere, St Lucians are able to travel with ease throughout much of Asia, Africa, and the Middle East. India and Singapore, Kenya and Bahrain—these are just a few of the many St Lucia passport visa-free countries accessible without a visa (or with a simple e-visa).
A huge benefit of receiving citizenship through St Lucian CBI is the numerous tax advantages. St Lucian economic citizens avoid numerous kinds of taxes, such as income tax, allowing them to grow their money in an environment that is both safe and secure. In addition to a reduced tax burden, those who pursue economic citizenship on St Lucia have access to numerous investment avenues by virtue of their participation in the island’s program. CBI applicants who select the real estate option can sell their property on St Lucia after a certain number of years, as well as rent out their dwelling if they so choose. Pre-approved real estate options offered by the government under the auspices of CBI can also include hotels and other business, which can generate income separate from the initial investment. The high St Lucia passport ranking also holds compelling advantages for international businesspersons. Through CBI, investors who may have previously found their businesses opportunities limited by visa restrictions inherent to certain nationalities will gain the opportunity to undertake global business travel with ease throughout the hundred + countries accessible visa free with a St Lucian passport.
Few restrictions on applying/maintaining citizenship
St Lucia does not require applicants or citizens to learn a native language or even reside on the island in order to apply or maintain their St Lucian citizenship. Residents also enjoy dual citizenship, which means you do not have to give up your original nationality when you apply (or become naturalized).
The final advantage for St Lucia citizenship is a superficial yet compelling one. As anyone who has had the pleasure of visiting the island—or simply seen photos—will understand, St Lucia is one of the most beautiful countries in the Caribbean—if not the world. Achieving economic citizenship on St Lucia entitles you to reside on the island. While there are no residence requirements to St Lucian citizenship (meaning you don’t have to live there in order to keep your citizenship and passport) the opportunity to live full-time in such a beautiful and tranquil place is one which non-citizens can only dream of, and is a key advantage of the program.
Ways to obtain St Lucia citizenship
Readers of the above who find themselves intrigued by St Lucian CBI can consider the three types of St Lucia passport program options, one of which they will need to select in order to apply for citizenship. Participants in the St Lucian CBI program may choose from one of the following four investment vehicles:
1. Donation to Government Fund (minimum investment of $100,000 USD).
2. Real Estate (minimum investment of $300,000 USD).
3. Government Bond (minimum investment of $500,000 USD).
4. Enterprise investment (minimum investment amount calculated at $3,500,000 USD).
(Please note that all of these options include various fees relating to processing and administration, which vary depending on factors including the number of dependents on an application, etc).
Applicants will indicate which of the above options they have selected on their St Lucia citizenship application form, which will be handed over to the requisite CBI authorities as part of their complete CBI application.
St Lucia citizenship requirements
Once you have browsed the various ways to obtain St Lucia CBI, you may assemble your application for citizenship (a processes which necessitates your selection of a citizenship by investment authorized agency—i.e. Second Passport). Second Passport will assist you with gathering your various financial and personal documents (including the St Lucia citizenship application form) and generally guide you through the process. Applications for St Lucia citizenship are typically approved so long as the applicant meets official CBI requirements relating to the following:
– Age (applicant must be 18+).
– Character (applicant must not have a criminal record).
– Financial (applicant must be in good financial standing).
Those who meet the above requirements will be approved for their St Lucian citizenship and—pending receipt of their original investment—ultimately receive a St Lucia passport.