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step by setp guide to selling property in st lucia

Home-ownership is generally the biggest investment in most of our lives. Therefore it’s of vital importance that you hire the right estate agent who can comprehensively engage you in understanding the real estate transaction process of Saint Lucia.

Non-Nationals Requirements

Non-nationals (USA, CANADA, UK etc) wanting to purchase property in Saint Lucia must obtain an Aliens Landholding License.

Residents of Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, St. Christopher and Nevis, St. Vincent and the Grenadines, Surinam and Trinidad and Tobago are exempted from applying for Aliens Land Holding Licenses for land development in St. Lucia

The license is obtained from the Ministry of Physical Development, Housing and Urban Renewal and must be registered by a local solicitor. The Alien’s Landholding License is permanent, and does not require renewal.

The Process:

  • The local solicitor/lawyer writes to the Permanent Secretary of the Ministry of Physical Development, Housing and Urban Renewal to request an Alien’s Landholding License. The application is forwarded to the Survey Department (Chief Surveyor) of the Ministry, which prepares a memorandum to the Cabinet of Ministers for approval.
  • Upon approval from Cabinet, the solicitor/lawyer submits a sworn declaration, and the draft license to the Attorney General’s Office for vetting. Once vetted for discrepancies or amendments, the draft license is returned to the lawyer.
  • The license is printed on approved paper and re-submits, along with the sworn declaration and other relevant information, to the Attorney General’s Office, which then forwards it to the Prime Minister’s Office for final approval and signature.
  • The official license is submitted to the Survey Department, where it is collected by the lawyer for onward submission to the Applicant.

NON REFUNDABLE APPLICATION FEE – EC$ 5400

License to purchase or to hold land:

Up to 1 acre – $5,000

Over 1 acre and up to 10 acres – $10,000

Over 10 acres and up to 20 acres – $ 20,000

Over 20 acres and up to 50 acres – $ 30,000

Over 50 acres and up to 100 acres – $ 40,000

Over 100 acres – $ 50,000

License to hold land in trust is 5% of the value of the trust property.

Stamp Duty – 2% on the property cost.

Lawyers charges are applicable and vary.

Select a Realty St. Lucia Agent

Know the Communities

Find A Home

Get Pre-Approval

Make an Offer to Vendor

Finance, Lawyer and Escrow

By Way of a Loan

  • Bring in the information to the loans officer at a bank to support an application for a loan.

Banks in St Lucia Role

  • If/when the loan is granted, the bank writes a letter to the purchaser’s lawyer indicating the terms and conditions which must be fulfilled before the loan is disbursed. The bank will write the check to the lawyer for the amount of the land.

Lawyers Role

  • Checks all registries to ensure that there are no outstanding claims against the property or the vendor.
  • Prepares the Deed of Sale.
  • Prepares the Hypothecary Obligation (if the property is to be used as security for the loan).
  • Ensures that there are no outstanding taxes, dues and unregistered liens which could nullify the sale.
  • Pays all required stamp duties and charges on the sale of land to the
  • Inland Revenue Department.
  • Coordinates the sale transaction – ensuring that the vendor, on receipt of the money, signs the Deed of Sale.
  • Submits the Hypothecary Obligation to the Bankers for signature (if the property is to be used as security for the loan).
  • Registers the signed Deed of Sale and (if necessary), the Hypothecary Obligation (signed).
  • Delivers copies of the registered Deed of Sale to the purchaser and the Hypothecary Obligation to the Bank.

Closing

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