St Lucia is a secure place to purchase an investment property. The country is economically stable, so price drops in real estate are not anticipated. Rental yield reaches 10% yearly.
Aside from that, property purchase is one of the options for obtaining St Lucia citizenship by investment. Applicants are required to purchase real estate of at least $300,000 from a government-approved list and pass Due Diligence. Along with the investor, their family members can obtain St Lucia passports.
There are no official reports on the state of real estate prices in St Lucia. Our analysis of the market in the country showed that the prices start at:
Usually, prices for properties in the countryside are higher than for real estate in towns. The most expensive per square metre are properties close to a coastline or those featuring a panoramic view.
Locations on the north of the west coast, such as Rodney Bay, Marigot Bay, and Castries, the island’s capital, are good choices for purchasing real estate in St Lucia. They are convenient cities to live in and also popular destinations among tourists. When rented out, they have the potential to be quite profitable.
In some cases, the purchase of real estate can provide a foreign buyer with St Lucia citizenship. For that, investors need to choose real estate from a government-approved list, and the investment in the property should be at least $300,000.
In St Lucia, foreign buyers can choose from two paths for property purchase. A foreign investor can buy real estate under the citizenship program or independently from it. The additional expenses depend on the chosen way.
Buying property independently from the citizenship program implies obtaining an Alien Landholding Licence, which is time- and money-consuming.
First, the buyer needs to apply for the Certificate of Eligibility, which costs $3,000 for a 1-year certificate or $10,000 for a 10-year certificate. As long as a foreigner owns real estate in St Lucia, they are required to renew this document continually.
After they acquire their Certificate of Eligibility, the foreigner can apply for the Alien Landholding Licence. It costs $2,500 to $20,000, depending on the size of the purchased land.
Aside from that, foreigners pay a stamp duty of 2% and 0.5—2.50% of legal fees.
After a foreigner pays for the property, they obtain an Alien Investor Entrance Permit, which allows them to enter St Lucia at any time and reside in the country indefinitely.
Investors who purchase property under the citizenship by investment program are not obliged to pay stamp duty or buy a licence to own land.
However, there are added costs aside from the real estate price, such as:
Applicants for citizenship by investment usually obtain citizenship in 6 months or more. This time frame includes the purchase of real estate and all paperwork.
During the ownership period, foreign property owners pay a municipal tax of 0.25% of the housing cost.
Other regular expenses associated with house ownership in St Lucia are maintenance costs. If the owner rents their property out, they can hire a delegated management company to take care of leasing and management for 40—50% of the total rental income.
Alternatively, a property owner can hire required personnel on their own and negotiate contracts for the staff.
Rental prices in St Lucia start at around $80 per night or $750 per month for an apartment in a city. Rent for villas and other high-end residential properties starts at $2,000 per month.
During winter months, which is St Lucia’s busiest season, rent increases by at least twice as much.
In general, renting out real estate brings around 2—5% of the initial price yearly. During the high season, the yield reaches 9—10%.
Saint Lucia’s citizenship by investment program allows foreigners to become nationals of the country in exchange for contributing at least $240,000 to its economy.
There are five options to invest in:
Investors purchasing Government Bonds or real estate can return their capital. In the case of real estate, they can do so after 5 years of owning it and paying a non-refundable state fee of $30,000.
The investor participating in the program can also provide their close family members with St Lucia citizenship. This applies to the investor’s spouse, dependent children under 30 and dependent parents over 55, and siblings under 18 if they have their parent’s written consent to the program.
For adding family members to the application, the investor pays additional fees:
Opportunity to move to St Lucia. Citizens of the country can visit the island at any time and stay here for as long as they want to. Expats choose to move to St Lucia for its beautiful scenery, good weather and rich cultural life.
Visa-free travels. St Lucia passport holders can travel visa-free to 146 countries, including the Schengen, Hong Kong, and South Korea.
Long-term US visa. The USA is not included in the list of visa-free countries for St Lucia citizens. However, they can apply for a 10-year visitor visa for tourism and business purposes.
Opportunity to reduce the tax burden for business. Citizens of the country can register their companies in St Lucia and take advantage of the local taxation regime. This applies to foreign investors who obtain St Lucia passports, too.
Companies registered in St Lucia are exempt from paying VAT, capital gains taxes, and tax on foreign income.
Dual citizenship is allowed. People who become citizens of St Lucia by investment or other reasons don’t have to give up their other passports.
How St Lucia citizenship can become a powerful tool for convenient travelling and business expansion
Here are the main things to consider when planning a real estate purchase in St Lucia:
Yes, foreigners can purchase real estate in St Lucia. There are two options to do so:
Prices on real estate start from $35,000 for a plot of 600 m2. Prices on three-bedroom cottages in the countryside start at $180,000.
Real estate purchase is one of the ways to join the St Lucia citizenship by investment program. Investors buy properties of at least $300,000 from a government-approved list to contribute to the country’s economy. In at least 6 months, they collect their passports.
St Lucia is a secure place to purchase investment real estate. It is popular among tourists all year round.
Rental prices for high-end real estate start at $2,000 per month. During winter, the peak season in St Lucia, prices increase by at least two times. In general, renting out real estate brings around 2—5% of the initial price yearly. During the high season, the yield reaches 9—10%.
It takes at least 6 months to obtain St Lucia citizenship by investment.
St Lucia is one of the most popular Caribbean islands among tourists. It is popular for its beautiful natural scenery, rich culture, and welcoming people. Aside from that, the country is economically and politically stable, which makes it a comfortable choice for expats.
Another important factor is that St Lucia’s airport serves numerous international flights, making it easy to travel to and from the island.
Generally, properties in the countryside are valued higher in St Lucia.
