St. Lucia

Saint Lucia is known for the Pitons, two volcanic spires that are considered the island's main sight and are on the UNESCO World Heritage list. The island is mountainous and of volcanic origin; here are the Sulphur Springs, according to the article the only drive-in volcano in the world. The climate is tropical rainforest, softened by the north-east trade winds, with a dry season lasting roughly from December to May. The capital, Castries, is a port and the centre of business life; in the north-west lies Rodney Bay with the Reduit beach and a large marina, in the west the sheltered Marigot Bay and the town of Soufrière at the foot of the Pitons. The French and British past can be seen in the colonial fortifications on Pigeon Island and in the old plantations. The official language is English; Saint Lucian Creole is widely spoken.

What to see and how far it is from our places

• The Pitons (UNESCO). Two volcanic spires, Gros Piton (798 m) and Petit Piton (743 m), joined by the Piton Mitan ridge. A UNESCO World Heritage site covering 2,909 ha. Gros Piton can be climbed without mountaineering equipment, and local guides are included in the entrance fee. Soufrière: 5 km, Marigot Bay: 18 km, Rodney Bay: 32 km.
• Marigot Bay. A sheltered bay on the island's west coast, surrounded by wooded hills, 3.75 miles from Castries. It has long served as a shelter for ships; nearby is the Saint Lucia National Marine Reserve. Marigot Bay: within the town, Soufrière: 13 km, Rodney Bay: 15 km.
• Pigeon Island. A 44-acre islet in the north-west of the island, joined to the shore by a causeway in 1972. Fort Rodney was built in 1779-1782 by Admiral George Rodney; from the top of Signal Hill there is a view of the sea. Rodney Bay: within the town, Marigot Bay: 15 km, Soufrière: 27 km.
• Rodney Bay. A horseshoe bay with an artificial lagoon on the north-west shore, next to Pigeon Island. Reduit Beach, according to the article, is the most popular on the island: long, with white sand and clear water. The marina is a major yachting centre of the Caribbean. Rodney Bay: within the town, Marigot Bay: 15 km, Soufrière: 27 km.
• Soufrière. A small town on the west coast at the foot of the Pitons. The first capital of the island; French colonial plantations survive around it, and their descendants still live in the district. The district has about 7,900 inhabitants. Soufrière: within the town, Marigot Bay: 13 km, Rodney Bay: 27 km.
• Gros Islet. A town and district on the island of Saint Lucia. By a 2005 estimate the district had about 21,660 inhabitants. Rodney Bay: 2 km, Marigot Bay: 15 km, Soufrière: 28 km.
• Mount Gimie. The highest mountain in Saint Lucia, 950 m above sea level, in the Canaries district in the west of the island. Covered with dense rainforest; formed by volcanic activity 200-300 thousand years ago. Soufrière: 5 km, Marigot Bay: 11 km, Rodney Bay: 25 km.
• Morne Fortune. A hill above the capital, Castries. The French built a fortification here, the Citadel of Morne Fortune, completed in 1784. The fort was abandoned in 1905, and today a secondary school stands on its grounds. Marigot Bay: 5 km, Rodney Bay: 11 km, Soufrière: 17 km.
• Castries. The capital and largest town of Saint Lucia on a plain, on land reclaimed from the sea. The sheltered harbour receives cargo ships, ferries and cruise liners; duty-free trade operates here, including at Pointe Seraphine. Marigot Bay: 7 km, Rodney Bay: 8 km, Soufrière: 19 km.
• Vieux Fort. The town of Vieux Fort on the island of Saint Lucia. By a 2005 estimate the town itself had about 4,574 inhabitants, and the district roughly 15,750. Soufrière: 18 km, Marigot Bay: 27 km, Rodney Bay: 39 km.

• Full ownership. A foreigner buys a house, villa or plot in full ownership in their own name. The right is based on English common law.
• Land licence. Without a valid licence a foreigner cannot buy, lease or hold land for any purpose. The law does not divide land into residential and commercial. A caveat: the page of the law in the 2023 compilation is marked on the website as not yet having had its commencement order; the text should be checked against the official gazette.
• One rule for the whole country. It does not distinguish between districts and resorts. Places differ only in the set of properties: in Rodney Bay apartments, villas and offices; in Marigot Bay apartments and villas by the marina; in Soufrière land plots are so far what is visible.
• Freehold and state lease. In Marigot Bay listings both freehold and state land lease occur: the form of ownership must be checked for each property.

Buying:

The 2% rate and the overall 5-7% estimate are taken from the pages of law and consulting firms; the text of the stamp duty tariff, by our check, says the same, but we do not yet have confirmation from the tax authority. Licence tariffs are changed by order in the gazette.

Example, from these rates only: a house for $500,000, a small plot, a certificate for a year. Stamp duty $10,000, admission and licence $5,500, total $15,500, i.e. 3.1% of the price. The lawyer and agent are not included, hence the difference from the 5-7% estimate.

Holding:

• Annual tax on land and houses: 0.25% of open market value for housing. The rate is named in the law, but the page is marked as not yet having had its commencement order, and the effect of reliefs for housing we will confirm on request.

Selling:

• There is no capital gains tax.
• A non-resident seller pays a fee of 10% of market value at the time of sale. This is per a law firm's page; the tariff in the law, by our check, names the same rate.
• Proceeds can be transferred freely, according to the governor of the central bank; these are words, not a norm of the law, and bank checks on large transfers are possible.

• Long-term. We will provide data on conditions and yield on separate request.
• Short-term. According to the page of a specialist service, almost everywhere a permit or registration is needed.

Tax on rental income for an individual, 2023 scale, in East Caribbean dollars (EC$):

Tax is calculated on net income: expenses incurred to earn the income are deducted: repairs, property taxes, insurance, loan interest. A non-resident pays on the same scale. Personal allowances are not taken into account in the scale.

This is tax in Saint Lucia. Tax in the country where the investor lives is calculated separately.

• Residence. The land licence gives the investor's permission to live in the country for the term of the licence, without the right to work.
• Citizenship by investment. An investment in a project approved by the minister is accepted: a resort or a branded hotel, a boutique hotel or another project at the minister's decision. The minimum is $300,000. The sources differ: the law and the programme page give $300k, the programme's questions section states $200k; we will not choose between them.
• Family. For each dependant of any age, set fees are paid; we will provide the amounts on request.
• Term. The investment may not be sold or transferred for at least five years after citizenship is obtained.
• The programme's website currently shows two approved projects: A'ILA (Rodney Bay) and Canelles Resort.
• State school is free; for citizens of countries outside the Organisation of Eastern Caribbean States the minister may set a fee by special order. Whether such an order is in force now we will confirm on request.

Who it is open to (by the applicant's first citizenship). What the programme itself says about applicants with different passports; "not named" does not mean "open".

• Citizenship by investment (citizenship; accepts applications): Russia, Belarus: not accepted; Kazakhstan, Uzbekistan, India, Pakistan: not on the published list of excluded countries.

Under the law of their own country, the first citizenship is lost in this case: Kazakhstan, Uzbekistan, India, Pakistan.

There is not yet a national housing price index in our base: the Bank for International Settlements does not publish one, or it has not been loaded. The four lines of prices, without and with inflation adjustment, in local currency and in dollars, we will provide on request. For a buyer with dollars there is one firm circumstance here: the local currency is pegged to the dollar at 2.70, so there is no exchange-rate difference between them, and property prices, per our record, are often given in dollars.

The directory has 8 districts: Marigot Bay 3, Rodney Bay 3, Soufrière 2. All are from the pages of agencies, portals and state agencies. Figures read from pages (asking prices, not transaction prices):

What can be seen:

• Rodney Bay is the main business and resort district: marina, beach, shopping centres; at Reduit Beach, the nearest to the beach, hotels and restaurants.
• Marigot Bay is a sheltered bay with a resort and marina, and it is exactly this that attracts buyers.
• Soufrière is the most affordable of those read: land by the village, with the developer and form of ownership not stated in the listing.
• There are no prices for finished houses and apartments by district: we will provide the data on request.

The directory has the developer Cap Estate (St. Lucia) Ltd. Listings: Bank of Saint Lucia, Properties for Sale; Terra Caribbean, St Lucia For Sale. The projects of the citizenship programme are listed on the programme's own website.

What a foreigner can buy. Commercial property is open on the same terms as housing: a land licence is needed. According to an agency page, with a licence foreigners also buy commercial properties. There is no requirement to set up a company in our records.

How it differs from housing.

• Stamp duty on purchase and sale is the same: 2% from the buyer, 10% from a foreign seller.
• The annual tax is higher: 0.4% of market value against 0.25% for housing; a partial discount is possible, and we will confirm its conditions on request.
• VAT: the sale of housing is exempt from it, while commercial property is not named in the list of exemptions. This is a conclusion from the text of the law; we will confirm the rate and cases of refund with the tax authority.
• VAT on rent: registration is mandatory when taxable supplies exceed EC$400,000 over 12 months (about $150k). Rent of housing is exempt, commercial rent is not named in the list of exemptions. We have not yet confirmed the rate on an official page.
• A fixed-term lease is subject to stamp duty of 2% of the average rental value; rent of furnished housing for up to a year is exempt. We will provide the term, indexation and right of renewal of the lease on request.

Hotels and rooms. Units in approved projects of the citizenship programme may not be sold or transferred for at least five years after citizenship is obtained. We will provide unit prices and the operating regime on request.

Residence. Ordinary commercial property does not give citizenship; only approved projects count (see section 4).

Rent, yield, vacant space. Figures by segment are not yet available: we will provide them on request.

Where it is concentrated. Rodney Bay: the A'ILA resort and residences on the slopes of Pimar Hill (dates per the developer's plan, 2025-2027). Marigot Bay: a bay with a resort and marina; the 18-acre Marigot Waterfront plot is offered on lease for a resort or hotel project. Reduit Beach in Rodney Bay: hotels, restaurants, nightlife. In Soufrière there are so far no commercial districts in the directory.