During the last five years, foreigners are showing serious interest in the real estate market of St. Lucia. The chief reason behind the sudden surge in demand for properties is the new scheme of the Government that allows citizenship to a person who is ready to invest a particular amount in the real estate purchase in St. Lucia. As the island is also promoting tourism, there is a scope for better returns from the investment. In the Caribbean region, the immigration program of St. Lucia is the youngest.
Know in details
You should browse all the authentic sites to read more about the details. The statistics say that during the first year, 11 applications had approval, and 18 investors showed interest in the program. Majority of the interested applicants hailed from Asia, Europe, North America, the Middle East, and Russia. The minimum investment amount should be US$300,000 if you are applying for single citizenship. The amounts start to increase as per the slab rates as you go on adding the number of dependent applicants. The citizenship program has been playing a key role in boosting the economy of the Caribbean island. But you have to remember that the applicant cannot be less than eighteen years of age.
Real estate market boom
The global recession hit the island, and the real estate market was at an all-time low. There was a need for a positive driving force to bring back the real estate industry back to life. The place is good for a vacation or honeymoon. But why will a foreigner buy a home or land at St. Lucia unless the deal is highly profitable? Why will you provide funding for a 5-star hotel in the country when you can invest the money in the stock market for a higher return? Well, the return here is far better if you can relate to the values. Procuring citizenship makes you eligible to travel with a free visa or visa on entry to 146 countries. Won’t you fall for that, apart from the various other benefits?
A profitable deal
While the Government is strengthening its economic backbone by inviting donations and contributions from the foreigners with the deal of citizenship, you can also gain from the mutualistic relationship. The tax payable at St. Lucia is very low, which gives you the opportunity to save more. There will be no impact on your income as the country does not impose a tax on worldwide earning.