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Reasons Retirees Should Choose Saint Lucia

When thinking of a vacation spot, Saint Lucia is very often the perfect choice for many people across the globe, including retirees. Even those retirees considering a permanent move to a second home country are increasingly finding the idyllic Caribbean island a worthy investment. 

With a land mass of 238 square miles (or 616 square kilometres), Saint Lucia offers a blend of undulating hills and flat terrain, vibrant coastal villages and a coastline dotted with captivating flora, fauna, and breathtaking beaches.

Before moving to Saint Lucia, there are some basic factors that retirees will definitely need to consider, including property prices, preferred lifestyle, and the amenities needed to make them feel at home in their new home.

When it comes to purchasing real estate property in Saint Lucia, retirees will need to consider these four very important benefits that the island offers.

Reason #1: Low cost of living:
Compared to many other Caribbean countries, the cost of living is low in Saint Lucia. This means that you are able to protect your nest egg by spending less while enjoying your retirement.

Reason #2: Tax exemptions:
As an investor, you benefit from a wide range of tax exemptions from the government, which allows you to grow and sustain your business. You also qualify for various incentives to investors offered by the government.

Reason #3: Very profitable real estate market:
Due to its relatively stable political climate and natural beauty, the real estate market in Saint Lucia is very profitable, especially for high-end buyers and sellers.

Reason #4: Saint Lucia’s connectedness to the rest of the world:
With the George F.L. Charles Airport located in the north and Hewanorra International Airport in the south, Saint Lucia is well connected to the rest of the world. The George F.L. Charles Airport in Castries offers flights within the Caribbean while Hewanorra International Airport is a major hub for international flights. 

Foreigners wishing to purchase real estate property in Saint Lucia can do so via two options: 

  • Option 1: Applying for an Alien Landholding Licence, or 
  • Option 2: Participating in Saint Lucia’s Citizenship by Investment Programme

For Option 1, a foreigner applies to the Citizenship by Investment Board for a certificate to become eligible to apply for an Alien Landholding Licence to purchase, acquire, lease land or continue to hold land in Saint Lucia. The certificate may be issued for between one to ten years.

A foreigner with a valid certificate, or an attorney-at-law on behalf of an alien with a valid certificate, may make an application to the Board for an Alien Landholding License to purchase, acquire, lease, subdivide land or continue to hold land in Saint Lucia.

For Option 2, foreigners who make a minimum US$300,000.00 real estate investment in pre-approved property in Saint Lucia’s Citizenship by Investment Programme can become citizens of Saint Lucia and issued Saint Lucian passports, thereby enabling them to purchase real estate property on the island.

Two years ago, Money Inc. listed Saint Lucia among the top 20 places to live in the Caribbean. Money Inc. compiles everything you need to know about business -- from business owners themselves. Its hundreds of contributors from various businesses offer a first-hand look at how managers run their businesses, build their teams, overcome obstacles, and motivate themselves and staff.

The inclusion of Saint Lucia on that list was no accident.

The island’s is chock full of dramatic scenery that includes golden sand beaches, cascading waterfalls, lush rainforest and the iconic twin Pitons – volcanic spires that rise majestically from the Caribbean Sea in the west coast town of Soufriere. And then there’s Sulphur Springs, the world’s only walk-in volcano!

Aside from its captivating topography, retirees will also find teeing off on pristine golf courses, sailing, hiking and zip-lining major reasons to retire in Saint Lucia. Its year-round warm climate, laidback lifestyle, relatively low-hassle paths to residency for retirees and ease of access from key gateway cities in North America and Europe add to Saint Lucia’s appeal. 

Saint Lucia’s culture is steeped in its primarily European and African past. In fact, the French and British fought over this Caribbean gem fourteen times before the island was finally ceded to Britain. Independence followed in 1979. The island’s effervescent cosmopolitan energy makes it easy for retirees to enjoy their seamless adaptation to Caribbean island life. 

Retirees will also find Saint Lucia’s straightforward process for obtaining residency and citizenship hassle-free. In fact, you can become a citizen of Saint Lucia by contributing as little US$100,000 to the National Economic Fund, one of the options offered under the island’s Citizenship by Investment Programme.

Saint Lucia also offers the following options via its Citizenship by Investment Programme:

  • The Government Bond Investment. This option requires:
  • A minimum investment of US$500,000.00 and must be held for five years. 
  • If the applicant’s spouse is also participating in the programme, the combined investment for both spouses will be US$535,000.00. 
  • Two spouses and two dependents participating in the programme requires an investment of US$550,000.00, while any additional dependent will each cost the applicant US$25,000.00.

Once your application for citizenship and been approved, the investment must be made. These bonds are non-interest bearing, and must be registered and remain in the applicant’s name for a five-year holding period from the date of first issue.

  • The COVID-19 Bond Relief. A minimum investment of US$250,000.00 must be made, lasts until December 31, 2021, having been extended by another year last December. The terms are as follows:
  • Single applicant: A minimum US$250,000.00 -- (five-year holding bond).
  • Applicant plus 1 qualifying dependent: US$250,000.00 -- (six-year holding bond). 
  • Applicant plus up to 4 qualifying dependents: US$250,000.00 -- (seven-year holding bond).
  • Applicant plus up to 4 qualifying dependents: US$300,000.00 -- (five-year holding bond).
  • Each additional qualifying dependent (subsequent to applicant plus 4 qualifying dependents): US$15,000.00 each.
  • The COVID-19 Bond Relief. This option is especially attractive for families, is low-risk, and offers a more favourable long-term value proposition. 
  • The Real Estate Investment. A minimum investment of US$300,000.00 is required. 
  • The Enterprise Investment. A minimum investment of US$3,500,000.00 is required.

At McNamara Citizenship Services Inc., we offer a full-service advisory agency that provides all the relevant services associated with your acquiring citizenship in Saint Lucia. We are an approved authorized agent under the Saint Lucia Citizenship by Investment Programme and use our intimate knowledge of the programme to guide you through the process of obtaining your citizenship.

As the largest law firm in Saint Lucia, we take great pride in our hallmarks of excellence and professionalism. From the initial application stage to you becoming a citizen of Saint Lucia, we keep you informed throughout the process. 

Our portfolio includes a long list of satisfied clients whom we have represented successfully on their path to acquiring dual citizenship in Saint Lucia and we highly recommend that you select Saint Lucia’s Citizenship by Investment Programme.

For more information on how McNamara Citizenship Services can help you along the path to becoming a national of Saint Lucia, contact us today. We done it for many satisfied clients and we can do it for you.

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