Saint Lucia is a country that attracts tourists and investors. There are plenty of reasons for the increased interest. The Caribbean Sea attracts with its picturesque views, and the availability of the program for foreigners allows them to enjoy the beauty 365 days a year.
Any businessman who intends to enjoy the benefits of permanent residence on the island may obtain Saint Lucia citizenship by investment. In this case, it is not only about the attractiveness of the area, but also a number of other important advantages.
Before deciding on an application, read the opinion of an expert from Immigrant Invest agency Zlata Erlach. Her tips and advice will help you determine whether it is really worth it to move your family to one of the most beautiful islands in the Caribbean.
The investment program: why you’ll find it profitable
You can get citizenship for fulfilling investment obligations in many countries. Malta, St. Nevis and other states are developing attractive offers. What can interest entrepreneurs on this island? The list of advantages to invest in St. Lucia includes:
- Presence of international connections. Entrepreneurship combined with a Saint Lucia passport allows you to scale your business and increase the size of your benefit.
- Excellent infrastructure. The country has everything necessary for comfortable living and doing business. Horizons are opened for new citizens to conduct lucrative and profitable work.
- Reduced taxes. Tax system is designed so that citizens with dual citizenship pay a reduced tax rate.
- Opportunities for tourism business development. Buying a property allows you to become one of those who get a profit from tourism. The city is often visited by tourists, so there are no difficulties with the development of activities.
- Stable economy. Working in a stable environment allows you to plan the development of your business and get a steady income. The high assessment is supported by the political stability.
It is not difficult to hire employees to scale businesses. Permanent residents are ready to direct their efforts to the development of their home country and city, so there are no problems with finding workers. Dynamic growth in the workforce sector also looks optimistic.
If your activities are related to businesses, there is good news for your direction as well. The country is rich in natural resources. There is the necessary opportunity for production and the creation of enterprises, so working in this segment brings results.
It is possible to obtain the official status of a resident of the country within three months, which investors should keep in mind. The program of St Lucia citizen by investment is affordable, profitable and simple, which pleases foreign entrepreneurs. The search for a successful offer comes down to the conditions for obtaining citizenship.
How to invest correctly
Citizenship programs have different rules that foreign investors must follow. If you want to meet the requirements, start by consulting an expert. Only a qualified specialist will be able to help you find the right way to solve your task.
The legal system of St. Lucia provides several options for investing. Each of them will help achieve the desired result of obtaining St Lucia citizenship by investment. Investors have several options to choose from:
- Investing in the National Fund. The government has created special funds, which allow receiving investments for public projects. Applicants have a minimum limit of 100 thousand dollars to meet the requirements.
- Investing in real estate. The list of objects in which you can invest, is made by the government. It is proposed to make contributions (from 300 thousand dollars) in hotels, resorts, luxury buildings. The list of options for St Lucia property investment is approved by the government.
- Investing in businesses. The variety of options is impressive. The list includes not only projects of restaurant and hotel business, but also plants or pharmaceutical companies. In this case, the contribution is more than 3.5 million dollars from one investor.
- Investing in bonds. Applicants for citizenship make a purchase of bonds, which are on the list of government bonds. The minimum holding period is 5 years and the owner’s name is marked on the bond. The amount of investment in St Lucia is $500,000.
Fulfillment of the requirement will allow you to become a member of the program and obtain an official second St Lucia citizenship by investment within 3 months. However, keep in mind that before you make an application, you will need to collect the necessary package of documents. The list of required documentation includes bank statements, health insurance and more.
The best sectors for investment
Market segmentation allows you to choose the direction that will make it possible to return the money spent. The amount of profit depends not only on the right decision, but also on the specifics of the chosen activity. Several areas are particularly popular.
The choice of the option to scale the business depends on the specifics of the current activity. On the Caribbean Island there is an opportunity to develop infrastructure: the health care system, the use of renewable energy are priority areas.
A quick return on the resources spent can be achieved if you invest in St Lucia in the production of electronic goods and the recycling of products. Textile production, bottling of alcoholic beverages and the development of environmentally friendly technologies are also attractive.
The attractiveness of these segments is due to the fact that St. Lucia has some privileges:
- concluding agreements with the Single Market and the Caribbean Community economy;
- signing treaties with the Organizations of Eastern Caribbean States;
- trade agreements with the EU, the United States, Canada and several other nations.
The manufacturing sector is one of the main areas that deserves the attention of foreign investors. The availability of natural resources makes it possible to conduct activities regardless of the direction. The production of electrical goods and alcoholic beverages are not the only market segments available.
Since the countries of the Caribbean Islands are especially popular among tourists, it is worth paying attention to this market segment as well. The country attracts not only by its beauty but also by the presence of many UNESCO World Heritage Sites.
Real estate investment in St. Lucia will help develop the tourism business to visit other, no less picturesque places. Waterfalls, tropical forests and more attract thousands of people from all over the world. Thanks to the enormous popularity of the country, participants in the tourism sector have the opportunity to develop their activities.
A trip to the island does not cause problems, because the government has taken care of the availability of quality air service. St. Lucia has two international airports that allow tourists to reach their destination quickly. Americans, Canadians and Europeans take advantage of this opportunity.