Contents
- 1 Saint Lucia Citizenship-by-Investment for US Citizens
- 2 Saint Lucia Investment Requirements
- 3 Family Members for Saint Lucia CBI
- 4 Saint Lucia Passport Versatility
- 5 How Long is the Saint Lucia CBI Process?
- 6 Is There a Residence Requirement for Saint Lucia Citizenship by Investment
- 7 Saint Lucia Government Fees & Due Diligence
- 8 Saint Lucia Tax Requirements
- 9 Interested in Expatriation from the U.S.?
Saint Lucia Citizenship by Investment (CBI) Program
Saint Lucia Citizenship-by-Investment for US Citizens
St Lucia Citizenship by Investment: For US Citizens who are seeking to formally expatriate from the United States — but still require second citizenship because they do not haave dual-citizenship — the Saint Lucia Citizenship-by-Investment Program is a great opportunity to apply to one of the Caribbean CBI Programs that has a relatively lower cost than some of the other programs. Saint Lucia is one of the Citizenship-by-Investment Golden Visa Programs and not mere Residence-by-Investment — which means the Taxpayer will qualify to become a citizen and have a passport issued — which is typically required at the time they formally expatriate and relinquish their US citizenship status. The Unites States will typically not approve loss of nationality unless the taxpayer already has a second-citizenship. Let’s walk through the basics of the Saint Lucia citizenship by investment program (CBI):
Saint Lucia Investment Requirements
The investment donation requirement ranges between $100,000 and $200,000 depending on how many people are applying (spouse and children for example). If a taxpayer chooses the real estate option — which is the most common type of investment — it is generally $300,000 minimum, which is also the in the ballpark for the investment requirements for the alternative investment (although these are always subject to change and currently starts at $250,000.)
Family Members for Saint Lucia CBI
One benefit of the Saint Lucia Citizenship-by-Investment Program is that the fee does not increase exponentially just because an additional family member or members are being included in this submission. Some other programs require significant more outlay when family members are also making the leap into second citizenship.
Saint Lucia Passport Versatility
The Saint Lucia passport is a very versatile passport that provides for more than 140 countries, including the Schengen Area and United Kingdom. This is very important because travel opportunities and ease-of-travel are usually key ingredients in determining which Citizenship-by-Investment Program may work the best for an Expatriate’s specific situation.
How Long is the Saint Lucia CBI Process?
The process is actually relatively quicker than other countries and if everything goes well, the time for processing can be completed within six months with passports being issued at the four-to-five month mark.
Is There a Residence Requirement for Saint Lucia Citizenship by Investment
No. In order to qualify for the Saint Lucia Citizenship-by-Investment Program, a Taxpayer does not have to reside in that country and the taxpayer does not need to either pass a language test or meet any specific education requirement.
Saint Lucia Government Fees & Due Diligence
As with any Citizenship-by-Investment Program, there are government fees and due diligence/background fees in order to ensure the applicant qualifies as an upstanding person sufficient to enter the program. depending on how many people are making this submission the fees typically range from $50K to $125K.
Saint Lucia Tax Requirements
Oftentimes, U.S. citizens decide to expatriate to Saint Lucia in order to reduce their U.S. tax liabilities — and so it is important to understand the basics of how the Saint Lucia tax system works.
There is personal income tax in Saint Lucia which hits the top tax bracket of 30% once a taxpayer earns more than 30,000 XCD (Caribbean dollars). Unlike the United States, Saint Lucia does not follow a worldwide income model unless the Taxpayer is a resident of Saint Lucia. And, there are very lenient rules for taxpayers who are either not residing in Saint Lucia or not residing there primarily and do not repatriate that money to St. Lucia.
Social Security contributions are made up to a certain percentage of gross salary and there is no inheritance estate or gift tax — as well as no wealth tax either.
The property tax is relatively small and excise tax are limited to certain categories.
Interested in Expatriation from the U.S.?
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