Buying property in St Lucia
If you are not a St Lucian citizen in order to buy property in St. Lucia you will need an Alien’s Landholding Licence. The application for this can be undertaken by a local lawyer. The licence is granted for a specific property or piece of land. There is an Application Fee of EC$1,500 (US$558) and the Licence itself costs a further EC$5,000 (US$1,800). Applications can take up to three to four months.
You will need to supply:
|•||Passport and citizenship details, profession or employment status, current bankers reference.|
|•||Police certificate of good character from country of origin or current residence (for UK citizens this takes a minimum of 42 working days)|
|•||Four passport sized colour photographs for each purchaser, one copy to be certified by a Notary.|
|•||Full finger prints of every purchaser.|
Stamp duty is 2% of the purchase price.
Lawyers fees can be between 3% and 5%, but we can normally recommend lawyers who will undertake to do the work for considerably less.
Should the property you are buying not include a furnishing package we can recommend Interior Designers who can attend to your every need..
St. Lucia is serviced regularly from the UK by British Airways (five flights per week) and Virgin Atlantic (three flights per week). Flights from the US are provided by American Airlines, Delta and the recent addition of JetBlue, which now provides a thrice-weekly service from New York. Condor flies weekly from Germany and Canadian carriers Air Canada and WestJet fly seasonally. This ensures that investors in the buy-to-let market are sure to see a steady stream of guests. Add to this the fact that developments such as the Landings offer a 10-year tax holiday on income generated by renting out your apartment, and it's easy to see why St. Lucia has become one of the most attractive investment destinations in the world.
At Doubloon Real Estate we know that it is impossible to overstate the importance of the relationship between Architect and Homeowner. This is why we recommend Newel Lewis Broadbridge Associates, one of the most trusted firms of architects within the Caribbean. Over the years the firm has worked with numerous individual clients to convert their respective dreams into reality. Single purpose designed residences are a luxury in this day and age. NLBA has adopted a policy of accepting a design brief for single residences only on the basis of a client's shared perception of creating something special architecturally. For more information please visit their website.
St. Lucia has featured prominently within the World Bank's list of top places in the world for doing business. Part of the reason for this is the island's strong financial sector. Regular on-shore banking services are available from a multitude of institutions, including Bank of St. Lucia, First Caribbean Bank (formerly Barclays), Royal Bank of Canada and Scotiabank. Offshore services are also catered for by Bank of St. Lucia International.
Doubloon Real Estate Ltd. is proud to recommend G & G Interiors for all your interior design needs. Since arriving in St Lucia, Gemma and Georgina have been transforming the way homes on the island are decorated, and know how to transform a house into a stylish and elegant home. Combining their clients’ personal style with their experience, skills and resources, it’s easy to see why the interiors they create are exactly the solutions their customers are looking for. For more information please visit their website.
Saint Lucia has an efficient legal system based on British common law. There is a large number of options for legal representation on the island, ranging from small specialist practitioners to large family law firms. We would be happy to recommend a suitable firm for your individual needs.
Caribbean Mortgage Services is an independent mortgage brokerage specializing in mortgages for non-residents and non-Caribbean nationals but also offering similar services for local residents in most areas. They can also source commercial funding and provide consultancy services for real estate projects and financing.