Saint Lucia Passport: Why it's the wise retirement plan


Published: Fri 9 Dec 2022, 11:33 AM

Last updated: Mon 12 Dec 2022, 6:10 PM

Retirement planning is a crucial aspect of life; therefore, high-net-worth individuals start preparing for their golden years in their 30s. Early planning can ensure a wealthy retirement for them and their families while having access to first-rate healthcare, security, and safety. Investing offshore is a great way to diversify an investor’s portfolio and increase return, while also allowing them to retire abroad in a safe country with many tourist attractions and affordable living.

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With the global investment industry expanding at a 23 per cent annual rate, there is an increase in demand for Residency by Investment (RBI) and Citizenship by Investment (CBI). It has enhanced by 65 per cent in 2022 alone, with Saint Lucia, Saint Kitts and Nevis, and Dominica recognised as the most renowned CBI programmes in the GCC, while Portugal, Malta, and Spain among the most widely known RBI programmes. However, for a retirement plan, Saint Lucia, a Caribbean Island takes the number one spot.

Saint Lucia: A fast and flexible Citizenship by Investment programme

Saint Lucia Citizenship by Investment programme enables foreign investors to obtain a St Lucia passport within four to six months in exchange for investing in the country's economy. It is a highly sought-after programme, ranking in the top five CBI programmes according to the travel access it gives to its holder.

The Caribbean country of Saint Lucia offers one of the fastest, most flexible and hassle-free citizenships by investment programmes in the world; providing a direct way for non-resident entrepreneurs to gain dual citizenship and a powerful and trusted second passport. St. Lucia is the seaward alternative for the entrepreneur who wants to continue making a fortune even after retirement.

How St Lucia Citizenship benefits your future?

The country welcomes foreign investment and has a massive market and a favourable economic environment. On the St Lucia Island, there are numerous investment opportunities, particularly in real estate. Many individuals and wealthy families have been making investments in the country and establishing properties to diversify their portfolios in recent years.

St. Lucia's tax laws are also appealing. In St. Lucia, there is no tax on capital gains, inheritance, wealth, global income, and assets. The country's government has concentrated on tax rules that endorse foreign direct investments, and as a result, it has been able to use the spillover benefits to introduce new technologies and improve infrastructure in order to become a globally competitive nation.

When it comes to retirement, health care is an important factor to consider. St. Lucia, fortunately, has an excellent health-care system. All towns and villages in St. Lucia have health and wellness facilities that offer premium medical treatment to all citizens and residents.

When obtaining a Saint Lucia passport, there is no need to be concerned about residency requirements or visa formalities if individuals and their family decide to reside on the island. Investors that obtain St Lucia citizenship experience similar rights and social benefits as locals while living in the country. Hence, investing in a second passport from St Lucia is an excellent choice for investors looking to retire abroad and enjoy all the amenities.

Retirement perks in Saint Lucia

With a St Lucia citizenship, the investor can retire on the island and an age pension is paid monthly. The age pension is calculated at 40 per cent of the insured person's average pensionable earnings over the best five years of contributions, plus 0.1per cent for each month over 180 months. If a person has contributed for less than 180 months, he or she is eligible for an age grant.

Straightforward investment options to Dual Citizenship

Saint Lucia Citizenship investment options that enable applicants to become citizens of the nation are straightforward – a minimum investment of $100,000 to the National Economic Fund (NEF), which was established to receive investments to fund government-sponsored projects on the island.

Applicants can also obtain citizenship by purchasing a government-approved property valued at a minimum value of $300,000 that must be owned and maintained for a minimum of five years after the dual citizenship has been granted.

Finding Professional Guidance

Bluemina Citizenship and Residency is one of the leading international Citizenship and Residency by Investment firms, and a well-respected and established partner in the industry. Through their skilled advisors, they offer a variety of customised professional services to guide and aid investors and families in acquiring a second passport, residence, or golden visa through investment. The global company has assisted over 12,000 high-net-worth individuals, investors and wealthy families since its establishment in 1997.

To learn more about your options for gaining a second citizenship, apply here for a legal consultation.

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