Getting a St Lucia for second citizenship can be a great opportunity for many reasons. Not only can you expand your business, but you can also secure your family’s future by becoming a citizen of this island nation. The country is known for its warm welcome and welcoming people, and it makes sense to acquire citizenship there. Moreover, you can get tax relief from the country. Studying dual citizenship by investment in St. Lucia will also help you save money on international travel.
Taxation:
If you want to invest in St Lucia to become a second citizen, you should know a few things before you go. First of all, you need a substantial amount of money to invest. If you plan to do it jointly, you will need to invest at least $3.5 million, or $6 million. You also need to create at least three jobs in the country.
You’ll also need to pay taxes in St Lucia. The country has moderate taxation, so you’ll pay just 1% in income tax. In addition, there’s no inheritance tax or wealth tax. It also doesn’t charge high personal income tax rates on revenue from abroad. In addition, St Lucia ranks highly in the Doing Business Report and is the second-best jurisdiction in the Caribbean. The offshore sector is also vibrant, and you’ll be able to participate in most financial services in the country.
Visa-free access to 146 countries:
The Saint Lucia citizenship by investment program, launched in 2015, offers investors the chance to acquire a second passport and enjoy Visa-free travel to 146 countries. The program offers various investment options, including real estate, and allows applicants to obtain citizenship and a passport in one simple step. Investors are required to invest at least $100,000 to become eligible for citizenship. In addition, the investors must own a property in St Lucia for a minimum of 5 years.
St Lucia is a member of the British Commonwealth. This means citizens can apply for British emergency passports and enjoy preferential treatment when applying for work or study visas in other Commonwealth countries. In addition, children of successful applicants have privileged treatment for work and student visas in the UK. The country is home to two ideally located airports and three international yachting locations.
Relatively relaxed living conditions:
If you are looking to earn a second citizenship, Saint Lucia is a great option. This Caribbean country has a relatively relaxed living environment. Its residents are not subject to wealth, inheritance, or capital gains taxes. Instead, they pay personal income tax rates based on domestic activities. Saint Lucia also has relatively low property taxation, at only 0.25% of the market value of housing. However, it is important to note that non-residents must obtain a land ownership license.
