St. Lucia has the best second passport offer in 2018. St. Lucia’s second passport is the best because the price is low compared to St. Kitts, the travel value is high, and you have the option of investing in a government bond and getting your principal back. There’s no second passport program in the Caribbean that can compete with St. Lucia on value in 2018.
There’s two reasons people buy a second passport from St. Lucia. First, Americans are looking for a second passport so they can give up their US citizenship and stop paying taxes to the IRS. Second, citizens of countries like China and Japan are looking for a passport that gives them more visa free travel options. St. Lucia fits both of these requirements.
St. Lucia is a small island that lies towards the center of the Caribbean Sea, south of Martinique and north of St. Vincent and the Grenadines. The country can be easily found in a map as its shape is similar to that of an avocado or mango.
In St. Lucía, the natural beauty and wildlife is the main attraction. Its beaches are perfect for water sports such as windsurfing, water surfing, kayaking,etc. They are also ideal for diving and snorkeling in order to admire corals, sea turtles, whales and seahorses.
The country has one of the smallest populations worldwide with approximately 178,015 citizens of St. Lucia. This number has been increasing in the last few years because a great deal of American retirees have decided to become residents of the island.
St. Lucia is a parliamentary democracy with Queen Elizabeth II as Head of State, and its legal system has its origin in both common law and English civil law. The official language of the country is English, although there is also a lot of Creole French (a dialect that’s unique to the island). The economy of St. Lucia is driven mainly by tourism and international financial services.
As opposed to many countries around the world it’s fairly easy to obtain a second passport in St. Lucia. The country’s relaxed immigration laws and the need for foreign investment make this island a haven for high net worth individual who has the cash for a second passport.
The St. Lucia Investment Citizenship Program is the Caribbean’s most recent citizenship program, with amendments effective as of January 1, 2016. The Program allows applicants, their spouse, their children, and their parents to apply for citizenship. The Program is limited to 500 applications per year.
A passport in St. Lucia allows you to travel visa free to over 121 countries and you can live, in addition you can enjoy annual stays of 180 days in all the European countries that compromise the Schengen Area.
There are three ways to get a second passport from St. Lucia:
- Invest in real estate,
- Invest in a business project (very rare),
- Buy a government bond, or
- “Purchase” a passport by making a “donation” to the government.
The most popular and unique program in St. Lucia is the government bond option. A single person can invest $500,000, and a family $550,000, for 5 years and get a passport. The investment is guaranteed and you get your principal back without interest at the end of the term.
If you compare St. Lucia to other countries in the Caribbean, it is the only country in that area where the capital is returned to the investor. Your only costs when obtaining the second passport are limited to small fees ($50,000) or interest lost for money held in government bonds (opportunity cost of the interest free bonds).
Another way of securing citizenship in St. Lucia is by donating at least US $100,000 to the National Economic Fund of St. Lucía. You can also get a second passport in St. Lucia by making an investment of at least US $300,000 in an approved real estate project or US $3.5 million in a business project. Real estate developments are being approved now but I’ve never seen a business project approved.
Some of the requirements that need to be met in order to apply for a second passport are:
- Be at least 18 years of age
- Overcome strict due diligence assessments
- Proof that you don’t have a criminal record
- Health statements
- To be able to provide a reference for a banker
It’s not clearly stated in the law, but you’ll also have to provide financial information, including proof that you have enough capital to make a sizable investment in any government program that we mentioned. Retirees must also prove that they can maintain themselves and members of their family. And, of course, you must prove the origin of the funds you invest (that they are clean and legally earned).
I hope you’ve found this article on how to get a second passport from St. Lucia to be helpful. For more information, or for assistance in investing in St. Lucia or opening an offshore company, please contact us at email@example.com or call us at (619) 550-2743.
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