About St. Lucia

St. Lucia is one of the Caribbean's most recently discovered treasures. Its geographic position coupled with its two airports and two modern port facilities, lends itself tremendously to both business and leisure seeking individuals. In addition, the Island offers a great telecommunication service supported by an all digital system providing access to Internet, Leased Data lines to T1 capacity and beyond, Telegram, International direct dialing and many other services.

St. Lucia is a mountainous and volcanic island still very much unspoiled, filled with natural beauty and waiting to be explored. There is space and opportunity for the retired person whose desire is simply to relax in the comfort of his /her lovely home, Condo or Villa, situate on the hill side with breath taking views. For the investor there are ample opportunities for investment, and, for the holiday maker the options in St. Lucia are numerous … from simple guest houses to luxurious villas, Condos, beautiful holiday homes and excellent hotels.

Our Island enjoys a politically stable environment that is currently experiencing a slow but steady economic growth. This slow growth can be attributed to the current banana trade impasse and liberalization in the European Community. However, St. Lucia's tourism sector continues to grow and is probably the chief foreign earner presently. In spite of the boom in the construction industry, the resale of up-scale properties is considered a buyers market. This idea stems from (1), the price level of those homes and, (2) the lack of willing and able buyers locally. Serious offers are therefore usually accepted.

The Government of St. Lucia, by virtue of its economic and strategic planning offers a range of incentives to both national and international investors in an effort to encourage feasible investments. The area of manufacturing is still very much untapped.

Buying and Selling Property

For the past ten years Bentek Realty Inc. has been assisting purchasers identify and acquire the most appropriate property based on the their specific need. Buying or selling property can be challenging, therefore, we think it worthy to offer you our valued customers some useful tips as a GUIDE ONLY. It is necessary that you consult a lawyer before you purchase any property.

Planning Approval

The Development Control Authority (DCA) grants the required approval for the disposal of a vacant lot and is the duly authorised body which approves any building to be constructed or altered in any part of the island. Their regulations include set backs from roads, beaches, cliffs, building density, heights of buildings etc. Based on the nature of the development, approval may be granted in three months.

Purchasing Costs 

When buying a property, the following costs are usually incurred:-

• Government stamp duty ... 2% of purchase price
• Legal fees for deed of sale ... 2.5% of purchase price
• Registration, copies and stamps ... EC$100.00
• To prepare Mortgage … 2% of value
• Valuation … approx. 0.5% of value
• Legal fees for processing Alien license ... EC$2,000.00
• Non-refundable License application fee ... EC$1,500.00
• Alien landholding license … min. EC$5,000.00 applicable only to non-nationals

Vendor's Costs

When selling a property the following costs are usually incurred:-

• Vendor's tax (Non-Citizens) … 10% of sale price
• Vendor's Tax (Citizens) … Exempted from the 1 st $50,000.00 of sale price
• Next $25,000.00 … 2.5% of sale price
• Next $75,000.00 … 3.5% of sale price
• Any balance … 5% of sale price
• Radiation … if applicable

Special requirements (Non-nationals)

Government regulations stipulates that non-nationals must obtain an Alien landholding license in order to buy property in St. Lucia. Below is a list of the required documents.

• Police record
• 3 passport size pictures
• Birth certificate
• Certificate of character
• Finger prints
• Statutory Declaration

It is advisable that these documents be sent to your lawyer by Fedex ONLY as it is the most reliable, quickest and safest.

Legal Issues

In St. Lucia, property change hands by conveyance of title recorded in the Registry of Deeds and Mortgages together with a certified survey plan issued by the land registry. A purchaser will therefore require a lawyer to search the register to ensure proper title prior to the completion of a sale. If the purchaser is a non-national the law requires that an Alien Landholding License be obtained.

Title may be taken in an individual's name or through a company specifically set up to own the property … a practice which is common among non-nationals. However, the company must be registered in St. Lucia to be legitimate.

Documents required by purchaser

• Vendor's letter confirming agreed purchase price of property
• A survey plan of the land
• A copy of the location plan
• A copy of the land register
• A copy of the Vendor's Deed of sale
• A letter of compliance from the National Insurance Corporation
• A letter of compliance from the Inland Revenue Department

Vendor requirement:

• A letter of compliance from the National Insurance Corporation
• A letter of compliance from the Inland Revenue Department.