In the world of second citizenships, St Lucia and Vanuatu offer attractive options for individuals seeking greater mobility, security, and tax advantages.
Both countries provide citizenship by investment programs that allow wealthy individuals to obtain a passport quickly.
Lyle Julien, Investment Programs Expert at Immigrant Invest, compares Vanuatu and Saint Lucia Investment Citizenship, outlining the key requirements, benefits, and application processes.
What are Vanuatu and St Lucia Investment Programs?
Vanuatu and St Lucia offer citizenship by investment. This means that individuals can gain full citizenship in these countries by making a qualifying investment.
For both, the process is designed to be straightforward and relatively quick, with the main difference being the specific types of investment required.
St Lucia’s program includes several investment options, such as real estate, government bonds, or contributions to the National Economic Fund.
To get Vanuatu citizenship, on the other hand, investors must make a direct contribution to the country’s economy.
Both programs are highly popular for their efficiency and relatively low entry thresholds compared to other citizenship by investment routes in the Caribbean and elsewhere.
St Lucia Passport Advantages
St Lucia offers several benefits for individuals who obtain its citizenship. The St Lucia passport provides visa-free or visa-on-arrival access to many countries, including the European Union and most of the Caribbean.
This makes it a highly valuable travel document for business and personal use.
In addition to travel freedom, St Lucia’s citizenship also offers significant tax advantages. St Lucia does not tax foreign income, wealth, or capital gains, which is attractive for individuals looking to optimise their global tax situation.
The country also has a stable political environment and a strong reputation for financial privacy.
Requirements for Saint Lucia Citizenship
The requirements for obtaining St Lucia citizenship are straightforward but involve a financial commitment. To qualify, applicants must make one of the following investments:
- Economic fund contribution. The minimum contribution starts at $240,000, making it an affordable entry point compared to other programs.
- Real estate investment. Investors must spend at least $300,000 on property, maintaining ownership for at least five years. This route appeals to those looking for a dual benefit of citizenship and potential real estate returns.
- Enterprise investment. The minimum required amount is $1 million, but investors can combine their efforts in a joint project. This path suits those interested in supporting business growth on the island.
- Government bonds. The starting investment for this option is $300,000, with zero interest paid on the bonds. It’s ideal for individuals looking for a secure investment while securing citizenship.
- Infrastructure-project investment. The applicant invests $250,000 in government-approved projects that enhance the country’s infrastructure of St Lucia.
Applicants must also meet the standard Due Diligence checks and provide necessary documents, including proof of legal source of funds and a clean criminal record.
Requirements for Vanuatu Citizenship
The Vanuatu citizenship by investment program has simpler requirements, focusing primarily on a financial contribution.
The main investment option is a direct contribution to the Development Support Program, which starts at $130,000 for a single applicant. Additional family members can be added for an additional fee.
The application process is straightforward, but applicants must still undergo thorough Due Diligence to ensure they meet Vanuatu’s criteria for good character and financial legitimacy.
While Vanuatu does not require a residency period or language skills, applicants must demonstrate that they have no criminal record.
Comparing Vanuatu and Saint Lucia Citizenship Programs
Vanuatu and St Lucia offer different approaches to citizenship by investment, each with its own strengths. The St Lucia program is more diverse, offering multiple investment options, which might appeal to individuals who prefer flexibility.
The investment amounts in St Lucia can vary widely depending on the chosen path, with real estate being a particularly popular option for those interested in long-term investments.
On the other hand, Vanuatu’s program is simpler and quicker, with only one main investment option.
The required contribution for Vanuatu is slightly higher than Saint Lucia’s National Economic Fund option, but it can still be considered an affordable and straightforward route for individuals seeking quick citizenship.
Both countries offer excellent visa-free travel options, but St Lucia holds a slight edge due to its broader international access. However, Vanuatu offers the benefit of a faster processing time, often taking as little as 1—4 months, compared to 6 months for St Lucia.
Application Process
The application process for both countries is similar in that both require submitting documents, passing Due Diligence checks, and making an investment.
For St Lucia, applicants must choose their preferred investment option and submit the necessary documents, including proof of funds and a clean criminal record. Once the government has completed its Due Diligence checks, the applicant will receive approval. Saint Lucia typically processes applications in about 8 months.
For Vanuatu, the process is quicker, with most applications processed within 1—4 months.
After the initial investment is made, applicants submit their documents, and the government conducts Due Diligence. The final approval is granted once all checks are complete.
Both countries allow applicants to include family members in their applications, although the cost of adding dependents will vary between the two programs.
Conclusion
In conclusion, both St Lucia and Vanuatu offer strong citizenship by investment programs, each with its own set of advantages. Saint Lucia stands out for its flexibility in investment options and broader visa-free access, while Vanuatu offers a quicker, simpler process for those who need fast results.
