St. Lucia is undoubtedly the gem of the Caribbean Sea. The beautiful landscape comprising of extensive beaches, lush green rainforests, colorful coral reefs, refreshing waterfalls, and the mesmerizing peaks of Pitons make the place an ideal one for spending your life. With the citizenship-by-investment program on, you can now check out the property available in Saint Lucia and then invest in the real estate market to become a permanent citizen of the island, along with enjoying several other benefits. But procuring the citizenship of a Caribbean Island can’t be the only reason for investing in the real estate market there.
One of the chief reasons why the residential status can be helpful is the favorable tax regime. You don’t have to pay any tax on capital gains, wealth tax, inheritance tax, or tax for the worldwide income. The only consideration will be the local tax. You have to pay the personal income tax depending on the domestic activities. The rate of property tax is as low as 0.25% of the market value for housing. Investing in the real estate market does not imply that you have to pay a considerable amount of tax to the Government.
Low cost of living
Buying the property does not indicate that it is an only investment as you get citizenship by investing in the real estate market of ST. Lucia, you can utilize the property for residential purposes. Now, the question is, how can it be beneficial? Well, you can save much with a few months of stay on the island as the cost of living is very low in comparison to what you have to spend in popular countries. You can easily work from there even if your job base is in the native country. And you don’t have to pay tax for that income too.
If you check out the listings on http://stlucia-homes.com/, you will realize that the real estate market is on the boom, especially after the Government declared free citizenship if you invest above a particular amount in the country’s real estate market. The demand is high, and you can earn a lot by renting the properties too. There is no better way to earn profits than investing in the real market when you know that the tax amount will be lower here. As the place is well-connected to all the popular countries, the influx of tourists seeking accommodation is high.