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TopDear Client,

If you are considering buying a property, please find below a few things you should know:

After you’ve selected the property of your choice, a non-refundable deposit of ten percent is normally required to secure the property.  When the deposit is paid, the Vendor and you will sign a Sale Agreement Contract.  This deposit will be held pending completion.

If you are not a St. Lucian citizen, you’ll need an Alien’s Landholding License.  Application to obtain the Alien’s Landholding license from the Government of St. Lucia can be done through a local lawyer of your choice.  A fee of EC $1500.00 is required, to be paid to the Government upon application for License and is non-refundable.

 In addition to the non-refundable application fee for the License, the following sum would have to be paid to obtain a license depending on the size of the property you are purchasing:-

 

The price of the Alien’s Landholding License for less than one acre of land is EC$5,000.00.

Over 1 Acre and up to 10 Acres         -           EC$10,000.00

Over 10 Acres and up to 20 Acres     -           EC$20,000.00

Over 20 Acres and up to 50 Acres     -           EC$30,000.00

Over 50 Acres and up to 100 Acres   -           EC$40,000.00

Over100 Acres------------------------------- -           EC$50,000.00

 

The following list indicates the information you will need to provide your solicitor to submit with the license application form:

 

Duly completed application form

  • Certificate of character in each applicants name
  • Full set of fingerprints
  • Statutory declaration
  • 2 Passport size pictures of each applicant
  • A survey plan of the property
  • Details of the property or land to be purchased
  • The land register for the property (should be obtained from the Vendor)
  • The map sheet showing the property (should be obtained from the Vendor)

 

It is important to note that the procedure to obtain an Alien’s License takes a minimum of 3 (three) months.

A non-national will only be given one license to own a single property in St. Lucia. 

There is also the Stamp duty cost on registration of the Deed of Sale which is approximately 2% of the value of the Deed of Sale.  The Deed of Sale is the legal document that allows you to obtain title to the property.

 Completion of the purchase of the property would normally take place within thirty (30) days of the approval and granting of the Alien’s License.  At this time the balance of the Purchase Price is payable in full (together with any balance of the license fees, stamp duties etc.) and both parties will upon payment of the balance execute a Deed of Sale.

 

Additional fees are:

Solicitor’s fees range from 3% - 5% of the purchase price of the property.

For additional legal information, please contact Jonathan McNamara, at McNamara & Company, Tel 1.758.452.2662 Email jonathan@mcnamara-stlucia.com  or Raquel Duboulay-Chastanet at Duboulay, Anthony & Co.,Tel 1.758.452-5111 Email: rduboulay@slulaw.com.

All home owners are required to pay House and Land Tax yearly. This amount is assessed on an individual basis by the Inland Revenue Department in St. Lucia. In addition to this, it is important to note that all income generated by the purchased property is taxable.  Therefore an income tax return must be submitted each year to the Inland Revenue Department and will be assessed by them. We can recommend a tax consultant who can assist you in preparing the requisite documentation, which will be based on your monthly accounts and any expenses incurred by yourself relating to the property.

 

Please do not hesitate to contact our office should you have any questions or require further information.

 

Tropical Villas ( . Lucia) LTD.