PURCHASE OF LAND
national may purchase land outright or go through a bank or financial
institution. Commercial banks will lend money for the purchase of
land to an amount of up to two-thirds of the value of the property.
Get A valuation of the property;
Check with the Registry to ensure that there is no claim against
the property. This is compulsory when dealing with a bank of financial
institution. This is normally handled by a solicitor;
The purchases is required to pay two percent (2%) of the entire
transaction value plus EC$1.20 in stamp duty to the Department
of Inland Revenue;
The vendor is required to pay the following taxes on the transaction,
to the Department of Inland Revenue:-
The first EC $25,000 is free
$25,000 - $50,000: 2%
$50,000 - $75,000: 3%
above $150,000: 5%
Lawyer’s and registration fees of approximately $100 to $150
respectively are extra.
a) banks do not accept family lands as security
b) before purchase, every effort should be made to determine the
nature and extent of any encumberance which may be attached to
PURCHASE OF HOUSE
the purchase of a house, commercial banks will lend money to build
on land with a minimum of $50,000. With this restriction, commercial
banks will only lend up to 50% of the value of the land on which
the house is to be built. The Housing Development Bank will lend
money up to a maximum of $40,000 on property worth a minimum of
$5,000 with the house forming part of the security.
LEASE OF PROPERTY
lease agreement is drawn up by a lawyer in respect of the property.
The lessee has the use and enjoyment of everything that is stated
in the agreement. The lessee is also responsible for the payment
of utilities. The lease specified the use of the whether it may
be used specifically for residential, commercial or agricultural
purposes. If the owner dies, the terms of the lease remains in force.
on terms of breaking the lease are specified.
duty payable to the Department of Inland Revenue is as follows:
EC $500 per year = Total x $1.25/$250
ALIEN’S HOLDING LICENCE
may purchase or lease property in Saint Lucia upon receipt of an
Alien Landholding Licence. This transaction must be undertaken by
a lawyer. The required forms are also obtainable from the Ministry
of Agriculture, Lands, Fisheries and Cooperatives in Castries, Saint
Lucia. With the completed application form, a schedule describing
the property in question must be provided. The lawyer forwards the
form to the Ministry of Agriculture and Lands for consideration.
and half percent (7 ½%) of the value of the land is payable
to the Department of Inland Revenue upon completion of the transaction.
At the time of application, 25% of 7 ½% must be paid as an
application fee. These fees are refundable upon rejection of the
applicant. The application is submitted to the Cabinet for final
consideration. Lawyer’s fees for this transaction are within the
region of EC$250.00 (1 US$=$2.70 EC$).
DEVELOPMENT CONTROL AUTHORITY
Development Control Authority is responsible for directing and regulating
the orderly development of land in Saint Lucia, under the provision
of Land Development Act. Written permission is needed from the DCA
prior to the physical development of any Property.
Authority seeks to ensure that in every situation, prope standards
of physical development are maintained. Information on procedures
for applying to the Development Control Authority may be obtained
The Executive Secretary
Development Control Authority
P.O. Box 709
Castries, Saint Lucia
is advisable to provide full details of the nature of the development
intended so that appropriate guidance on required documentation
and fees can be obtained.