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...
November 6, 2015
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 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...
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...
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...
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...
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...
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...
All residents of Saint Lucia, including the self employed, corporations, and partnerships (regardless of profitability) are required to file an income tax return with the Inland Revenue Department of Saint Lucia (IRD). Corporate Tax Rates Corporation Tax 30% Withholding tax 25%(Non-CARICOM Nationals) Withholding tax 15%(CARICOM Nationals) How to register with the IRD 1....
The Government of Saint Lucia provides incentives to encourage investment in approved products/sectors by providing c such as relief from custom duties on the importation of raw materials, plant, machinery and equipment to be utilised in the business activity and may also grant tax holidays. There is also unrestricted repatriation of profits and carry forward of losses for up to two years. Fiscal...