A lateral passive device is disclosed including a dual annular electrode. The annular electrodes form an anode and a cathode. The annular electrodes allow anode and cathode series resistances to be optimized to the lowest values at a fixed device area. In addition, the parasitic capacitance to a bottom plate (substrate) is greatly reduced. In one embodiment, a device includes a first annular electrode surrounding a second annular electrode formed on a substrate, and the second annular electrode surrounds an insulator region. A related method is also disclosed.