About St Lucia
Saint Lucia real estate laws and processes are similar to those in the United Kingdom, Canada and the United States. There is a Land Registry where your deed to the property will be registered and made legally binding.
For Non Saint Lucian purchasers an Alien Landholding License is required. The application must be submitted for approval by a local attorney. This process includes a certification of character from your local police jurisdiction and fingerprints. The Alien Landholding Licence may take up to 3 months for processing and approval at a fee of approximately EC$6,500 (US$2,434.45).
The average expense or closing costs for the purchase of property in Saint Lucia is 5-7% of the sale price. This includes a 3-5% solicitor’s (attorney) fee and a 2% stamp duty.
Some purchasers have found it beneficial to hold the property as a business. This can provide several tax and privacy benefits for the property holder. The Purchaser would need to form both a Limited Liability Company (LLC) and International Business Corporation (IBC) in order to do this. The LLC owns the property and the IBC owns the LLC. In Saint Lucia an IBC is not allowed to own property directly. When the purchaser wishes to sell the property he simply sells the shares of the IBC to the new purchaser. Local solicitors can give additional information and assistance with this process.
The properties in Jade Mountain Estates are not subject to any rental programme. It is the choice of each individual owner to determine whether to lease the property. In the event an owner chooses to do so the Troubetzkoy Team is available to handle all aspects, arrangements and management.INVESTING IN ST. LUCIA
If you have ever been to Saint Lucia you have probably considered staying in forever. The island beckons you with a lifestyle that provides just the right mix of luxury, excitement and peaceful solitude. Where else can the rich and famous, whether princes or pop stars, mingle at the local market without intrusion? Where else can you go mountain climbing in the morning and scuba diving in the afternoon? Long hailed as a top honeymoon and anniversary destination, those incurable romantics have been returning year after year for their vacations and are now looking at making the island their location of choice for vacation homes.
Lifestyle is a large part of the surge in real estate investment in Saint Lucia but there are many other reasons to consider making the island your new home:
The island is underdeveloped with one third of the land protected as rain forest and with topography too rugged for development. The mountainous nature and a government bent on maintaining the islands natural beauty ensures that the island will be developed in a controlled manner with large areas forever left as natural.
The government of Saint Lucia has determined that tourism in general and geo tourism in particular is the road to the future. They are backing that decision with millions of dollars in infrastructure improvements over the next 10 years. Additionally the government has approved concessions for the development of targeted areas which include the Soufriere region. These concessions will waiver the stamp duty on the initial purchase, waiver import duties on items for construction of the estates, and provide temporary provisions for lower corporate taxes as well as land and home taxes.
Saint Lucia’s Minister of Tourism and Civil Aviation has made it a priority to build the weekly flights coming from major locations into Saint Lucia’s two international airports. Currently there are two major airlines from the UK providing direct service to Saint Lucia, two major airlines offering direct flights from Canada and direct service available from the following US airports: New York, Miami, Charlotte, Philadelphia and Atlanta. Additionally Liat and American Airlines provide a variety of non-direct flights daily.
Property prices in Saint Lucia have not been as affected by the global market fallout as the UK and US markets. Prices in Saint Lucia are roughly 40-65% of the prices of similar properties on nearby islands making them a great value. According to Global Property Guide the average price per square meter is US$2,164 in Saint Lucia versus US$3,119 in Martinique and US$5,767 in Barbados. Property owners in Saint Lucia have seen increases of as much as 15% per annum for the last two years and each of these Caribbean islands are holding their value while other areas around the world drop. It is interesting at this point to note the numbers of investors from other Caribbean islands that are making their way to the shores of Saint Lucia hoping to duplicate what happened within their own countries over the last twenty years.
For the last three years Saint Lucia has been listed in the top 34 countries (out of 181) in the Best Places to do Business Reports published by the World Bank. We are also the top listed Caribbean country on this list. As an underdeveloped country, we are currently in growth mode and the recipient of extensive foreign investment.
These factors mark this as the perfect time to be looking at Saint Lucia for your personal investment as well.
ABOUT ST. LUCIA Revered as one of the Caribbean’s most naturally beautiful islands, Saint Lucia lies at approximately 13º north of the equator in the middle of Windward Islands chain. The island is 27 miles long and 14 miles wide at its widest point with an area of 238 square miles (616 sq. kms.). Saint Lucia truly is a verdant paradise garlanded by rain forested mountains from which pristine rivers find their way to the surrounding blue waters of the Caribbean on the west and Atlantic to the east. The island, volcanic in origin, boasts the Caribbean’s most famous landmarks, the Pitons, majestic remnants of the geologic past. Increasingly recognised as a splendid holiday destination, much of the lure of Saint Lucia is found in its sub-tropical climate which is tempered by the ever present trade winds.
Saint Lucia’s population is approximately 160,000 with the greatest concentration found in the north of the island. Amid the countryside of the picturesque south with the town of Soufriere nearby, Jade Mountain Estates conveys a relaxed elegance perfect for your ultimate personal retreat. While English is the official language most residents also speak a French based Creole Patois as a living legacy to the past which is an integral aspect of the island’s truly alluring culture.
As a member of the British Commonwealth, Saint Lucia is a stable and secure independent nation with boundless potential for the 21st century and beyond. Two international airports and world class marina facilities await your arrival. And, of course, Jade Mountain Estates offers a helicopter pad for added convenience. Island amenities and facilities, including dining, shopping and healthcare, meet standards a discernable lifestyle demands.