St. Lucia citizenship by Investment program is a great option for those who want to live and work in the country without having to worry about visas. In addition, the country’s citizens don’t have to pay worldwide capital gains and inheritance taxes. In addition, this citizenship can help you travel to 146 countries without worrying about getting caught in the immigration system.
It offers visa-free travel to 146 countries:
You can visit any country without a visa or passport from St Lucia. St Lucia citizens are eligible to enter the Schengen area without a visa for 90 days and can visit the United Kingdom for up to 180 days and then return immediately. They can also enter any of the CARICOM countries without a visa.
It does not impose worldwide income, capital gains, or inheritance taxes:
The tax system in Saint Lucia is simple. Residents are required to file an annual tax return. Income tax is calculated on income earned in the country. There are no capital gains or inheritance taxes. Additionally, employers are required to match their employees’ social security contributions.
It’s a good option for rich investors:
Saint Lucia is known for its friendly environment and dual citizenship, which you can pass down to your children. As a result, it’s a great option for people with a family or those interested in having a second passport. Saint Lucia citizenship by investment also offers the same rights as natural-born citizens, including the ability to add dependents.
To qualify, applicants must invest at least USD 300,000 in real estate in the country, which can be in the form of shares or full-titled property. The investment must be in the main applicant’s name and remain in that same name for a minimum of five years. In addition, there are fees for government due diligence and processing.
It’s a good option for families:
Another benefit of this program is that it is affordable. Families can buy up to $250,000 worth of government bonds that are non-interest bearing. They must also ensure that these bonds remain in their name for five years. The fees for this option are relatively low compared to the government bonds and do not include any administration fees. You can purchase these bonds at a lower rate if you invest in Covid-19 Relief Bonds.