Buying Process

The process of purchasing property in St. Lucia is well-defined and involves several key steps. The procedure varies slightly for local/regional buyers and international buyers (non-citizens), primarily due to licensing requirements. Below is a comprehensive overview of the process for both groups.

For Local and Regional Buyers (CARICOM Citizens):

1. Preparation and Financing
   • Define your property requirements and budget.
   • Secure financing if needed; consult with local banks to understand mortgage options and rates.
2. Engage a Real Estate Agent
   • Work with a reputable local agent to identify suitable properties and navigate the market.
3. Property Search and Offer
   • View properties, select one, and make an offer.
   • Once the offer is accepted, a purchase agreement is drafted, outlining terms, deposit (usually 10%), and closing date.
4. Due Diligence
   • Conduct independent valuation and inspection.
   • Ensure all property taxes and clearances (income tax, property tax, NIC) are up to date.
5. Finalize the Sale
   • Sign the purchase agreement and pay the deposit.
   • Complete any additional paperwork required by authorities.
6. Transfer of Ownership
   • Pay the balance at closing.
   • Register the property with the Land Registry to transfer the title.

For International Buyers (Non-Citizens):

1. Define Requirements and Engage Agent
   • As with local buyers, start by defining your requirements and engaging a local real estate agent.
2. Property Search and Offer
   • Identify and view properties.
   • Make an offer and, upon acceptance, sign a preliminary agreement and pay the deposit (usually 10%).
3. Apply for Alien Landholding License (ALHL)
   • Non-citizens must obtain an ALHL, which is property-specific and involves background checks and due diligence.
   • The process typically takes 3–6 months and is managed by the Citizenship by Investment Unit.
   • The first step is applying for a Certificate of Eligibility, which prequalifies you for the ALHL and is valid for 1 or 10 years.
4. Due Diligence and Legal Checks
   • Your attorney will ensure the property is free from encumbrances, verify title, and check for legal compliance.
5. Finalize the Sale
   • Once the ALHL is granted, proceed to complete the purchase.
   • Pay the remaining balance, stamp duty (typically 2% for citizens, 10% for non-citizens), legal fees (2–5%), and other applicable taxes and fees.
6. Transfer of Ownership
   • Register the sale with the Land Registry, transferring the title to your name.
7. Optional: Alien Investor Entrance Permit
   • After purchase, international buyers may apply for an Alien Investor Entrance Permit, granting visa-free entry and residency rights.

Key Transaction Costs

Fee Type	Local/Regional Buyers	International Buyers
Stamp Duty	2%	10%
Legal Fees	2–5%	2–5%
ALHL Application Fee	N/A	EC $5,000+
Health & Security Levy	2.5%	2.5%
VAT (on legal fees)	12.5%	12.5%
Real Estate Agent Fees	Typically paid by seller, but varies	Typically paid by seller, but varies

Summary Table: Local vs. International Buyer Process

Step	Local/Regional Buyer	International Buyer
Define Requirements	Yes	Yes
Engage Agent	Yes	Yes
Property Search & Offer	Yes	Yes
Secure Financing	Optional	Optional
Due Diligence	Yes	Yes
Alien Landholding License	Not required (CARICOM)	Required (property-specific)
Finalize Sale	Yes	Yes (after ALHL approval)
Register Title	Yes	Yes
Additional Permits	No	Optional (Investor Entrance Permit)

By following these steps and working with experienced local professionals, both local and international buyers can navigate the St. Lucia property market with confidence.