Realty St. Lucia has an exceptional marketing style and campaign geared towards selling your home and property at the shortest possible time and highest price. Our selling approach to your property surpasses all other real estate agencies in Saint Lucia.
Can foreigners buy property in St Lucia?
Foreign individuals and companies wishing to purchase property in St.Lucia are required to first obtain an Alien’s Landholding Licence. Whilst the application for the licence can be made by the Applicant, a local attorney is usually retained as the licence, once granted, needs to be registered in the Land Registry by an attorney. Once the licence has been obtained by a prospective purchaser, the property can be immediately conveyed. Typically all applicants will obtain the licence upon application unless a police certificate reflects prior criminal convictions. The following information is to be noted:
- There is a non-refundable application fee of EC$1,500 (US$560.00).
- The licence is a permanent licence which does not require renewal.
- It is not transferable.
- It is granted in respect of a specific property or lot of land and thus a person seeking to purchase different properties over a period of time would have to apply for a licence on each occasion.
- The licence issue fee for properties measuring less than one acre is EC$5,000.00 (US$1,860.00) and for properties measuring an acre or more EC$10,000 (US$3,750.00).
- Licence applications are usually made at the beginning of the property purchasing process (often upon the signing of an agreement for sale) and take approximately 4-6 weeks to process. Once the application is processed by the Ministry of Physical Development and approved, a draft licence is sent by the Applicant’s attorney to the Attorney General’s Chambers for approval. Once approved, the licence is prepared and sent to the Prime Minister’s office for signature. Once signed, the licence is then sent to the Land Registry to be registered as the registration details of the licence must be entered on the Deed of Sale conveying the property into the name of the newly licensed purchaser. The usual time frame from application to registration of the licence is approximately 3-4 months.
How wealthy is Saint Lucia?
Saint Lucia ranks 68th in the world by nominal GDP per capita (9,607 US$). The top 10 countries by GDP (nominal) per capita are: Luxembourg, Switzerland, Macau, Norway, Ireland, Iceland, Qatar, United States, Singapore, Denmark, Australia.