November 2015

Land Prices in St Lucia

Residential property prices in St Lucia have remained the same in 2015, but expects to increase with the new Citizenship by Investment Program that will start in 2016. St Lucia’s residential property prices are likely to increase by nearly 20-30 % in 2018 as developers begin to purchase property through the Real Estate option under the St Lucia citizenship by Investment program. Already land prices in...

Saint Lucia Citizenship by Investment

St Lucia Citizenship by Investment program which is scheduled to commence on January 1 2016 is not new to the Caribbean as St Kitts & Nevis did set precedence in 1984, with other countries like Dominica, Antigua and now St Lucia following. Saint Lucia has now passed the Citizenship by Investment Act No.14 of 2015 which will entitle persons to dual citizenship if they meet the qualifying investments...

Property Appraisal and Valuation in St Lucia

An appraisal is a valuation of the property. An appraiser renders an estimate of value as of a certain date under assumptions and conditions stated in the appraisal report. Typically, a buyer’s lender requires an appraisal to verify that the loan is secured by property that is worth a certain amount. An appraisal is not the same as an...

St Lucia Labour Legislation & Laws

The Labour Code sets guidelines for employment of persons, dismissal and payment of severance and other benefits. Hours of Work 1. Maximum Weekly Hours – 40hrs work Week 2. Maximum Daily Hours – 8 hrs 3. Maximum overtime Hours – No limit (overtime issued at the discretion of Employer) Overtime Over 40 hours per week – Time and a half Sundays and legal public holidays – Double Time Severance...

St Lucia Citizenship or Permanent Residence

St Lucia Citizenship or permanent residence may be applied for, through the Ministry of Home Affairs and National Security, if a non-national is desirous of becoming a citizen or a permanent resident of Saint Lucia, after having resided in Saint Lucia for: • (1) one to three (3) years, temporary residency • (5) five years, in the case of permanent residence, or • (7) seven years for...

Migrating to St Lucia

Upon entering the country, a visitor is given a maximum of 6 weeks to remain on island. Prior to the expiration of this deadline and/or in the event the visitor plans to stay longer, a further extension may be granted after an application is made to the Immigration Department. The extension granted will be discretionary, based on responses given in an interview conducted by an Immigration...

Land Development Permit in St Lucia

An investor, who is desirous of developing land, must apply for permission from the Planning Department of the Ministry of Physical Development, Housing and Urban Renewal. The application must be made in triplicate and should be accompanied by maps and plans. Failure by the authorities to give a decision for development approval within ninety (90) days may be deemed a refusal. The applicant however, has...

Alien’s Landholding License in St Lucia

All non-nationals are required to obtain an Aliens Landholding License, in order to purchase property 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. 1. The Applicant's lawyer writes to the Permanent Secretary of the Ministry of Physical Development Housing and Urban Renewal to request an Alien's...

St Lucia Customs & Excise Procedures

Customs Procedures 1. Certain products being imported in St Lucia require licenses, which are obtainable from the Ministry of Commerce, Business Development, Investment and Consumer Affairs. 2. Duty free importation of raw materials, equipment, machinery and spare parts is available under the incentive regime for the development of industry. 3. Goods can be shipped either by air or sea freight. Shipping...

St Lucia Banking and Finance

Saint Lucia is home to major international banks providing financial supports services. Additional information on these banks can be obtained here from the Bankers Association of St. Lucia Inc. Special request has to be made to the Government for permission to operate a US Dollar account. Bankers Association of St. Lucia Inc Members 1ST NATIONAL BANK ST. LUCIA LIMITED Castries Branch | 21 Bridge...

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