Since 2016 Polaris has helped a diverse group of foreign nationals make the paradise that is St. Lucia their second home through a hands-on, personalized and bespoke approach to citizenship by investment advisory and application services. Saint Lucia’s property market is flourishing, driven by the profit from tourism and, of course, the stunning views and island atmosphere. 2016 and the few years after it mark an incredible time to get into the housing market as prices are expected to rise significantly in the coming years. Serious real estate investors may want to strongly consider gaining Saint Lucia citizenship to capitalize on relatively low-priced homes.
This will also depend on the number of individuals applying, sole applicants and their additional family members will naturally increase the investment structure. Under this option investors can make a citizenship application through the purchase of non-interest-bearing Government bonds. These bonds must be registered and remain in the name of the applicant for a five-year holding period from the date of first issue and not attract a rate of interest.
The bank moved more than $63 million for companies linked to Isturiz and the money laundering scheme between 2012 and 2016, the FinCEN Files show. “In every country where it operates, Arab Bank is in good standing with government regulators and complies with anti-terrorism and money laundering laws,” the bank said. The 2005 U.S. regulatory limits against the bank were formally lifted in 2018. The U.K.-headquartered bank helped Arab Bank clients access the U.S. financial system after regulators found deficiencies in Arab Bank’s money laundering controls in 2005 and forced it to curtail its money-transfer activities in the U.S. The free flow of dirty cash helps sustain criminal gangs and destabilize nations. Laundered funds are often shunted between accounts owned by obscure shell companies registered in secretive offshore tax havens, allowing elites to hide massive sums from law enforcement and tax authorities.
This calm picturesque and remote island with mild climate can become your second home if there are problems in your home country. If you obtain St Lucia citizenship, as St Lucia tax resident you can take advantage staying permit turkey of a flexible tax regime. There are no taxes on foreign income, inheritance, wealth, capital gains and interest. With St Lucia second passport, it is easier to work with large international banks.
Acquiring Citizenship By Investment In St Lucia
What’s particularly attractive about this option is that you can resell your property after five years of receiving citizenship. You can donate to the Economic Diversification Fund, which requires a single applicant to donate a meager $108,000 in total. Recent changes in the law have made the program even cheaper for large families. For example, a family of four needed to pay about $145,000 in total. This relief bond was recently introduced into the investment program in St. Lucia. St. Kitts and Nevis introduced a discounted donation option that saves applicants $100,000.
St Lucia has been able to attract foreign business and investment, especially in its offshore banking and tourism industries, which is St Lucia’s main source of revenue. St Lucia tends to be popular due to its tropical weather and scenery and its numerous beaches and resorts. The CIU Turkish staying permit will examine the applications closely and may sometimes request additional documents. In addition, Government processing fees and professional fees will also be due. St Lucia allows dependent children under the age of 25 to be included in the application, provided they are unmarried.
It has meant rejecting a fair few applicants and even revoking the citizenships of six of its own naturalized citizens due to acts committed by them. Not too long ago, the government promised that they would double the nation’s GDP in a decade, but this was perhaps a populistic over-promise, despite being a laudable goal for a country that’s suffering high-unemployment. It’s main geographic features – the two Piton mountains – are the island’s most famous landmarks and have even been declared a UNESCO World Heritage Site. There is also a drive-in volcano, rainforests, national parks, botanical gardens and, of course, the beaches. You can proudly show off a really nice passport to a country dripping in luxury and beaches rivaling those of the Cayman Islands. Put differently, it has a much higher-end vibe than Dominica but for the same price tag.
Under the program, foreign nationals that contribute economically to the country may become Saint Lucian citizens. Economic contribution may be in the form of a donation to the National Development Fund or an investment in an approved real estate project or an investment in government bonds or an investment in an enterprise project. These are programs that allow you to get citizenship quite quickly. They are possible when you invest in a government fund or a government-approved business, local real estate, or government bonds. After the corresponding country completes the application process, you can obtain your passport. Ease of processingThe average time for processing a St Lucia second passport is three months and the process of application for St Lucia’s CIP is known to be transparent and thorough.
The downside to this is that it has a comparatively high cost €2,150,000 plus VAT. It offers you a passport that has visa-free access to 185 countries. As we’ve mentioned earlier, this is technically a residence program that leads to citizenship. This means that you have to reside in Malta for 12 months to qualify for citizenship.
Additionally, property tax is 0.25% of the market value of housing. Buyers of real estate who are non-residents of Saint Lucia should additionally obtain a license for land ownership, paying 7.5% of the property value. There are seven options available to applicants who wish to go through the Saint Lucia citizenship by enterprise option. There are four investment options to choose from when considering St Lucia dual citizenship.
Property Investment Citizenship
In addition, in order to file an application, the applicant and the dependents must undergo a medical examination and obtain a medical opinion. It is worth to note that the undoubted advantage is the fact that obtaining citizenship of this country does not imply a compulsory procedure for an interview and an exam for proficiency in the state language. In addition, it is not necessary to live there turkish citizenship permanently and it is possible in parallel to retain the previous citizenship. Saint Lucia’s passport exempts from tax on foreign income, inheritance, and donation, allows visa-free entry to 130 states, and allows you to receive income from rent and capital gains. An approved real estate development with a minimum value of USD $300,000, which must be held for a minimum period of five years.
Fully independent since 1979, It covers a land area of 617 km2 and reported a population of 165,595 in the 2010 census. In 2015, the Saint Lucia government established the Citizenship by Investment Program to encourage foreign investment, making it possible to obtain your Saint Lucia citizenship by investment in only approximately 4 months. Applicants and their dependents are not required to live in Saint Lucia to obtain citizenship, meaning you can apply for and receive secondary passports without having to relocate the entire family or renounce your original nationality. Saint Lucia’s Citizenship by Investment Program was launched in December 2015 following the passage of Act No. 14 of 2015, the Citizenship by Investment Act on 24th August 2015.