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Purchasing property overseas
seems like a daunting
experience. Will there be
someone on hand to assist in
understanding the local
legalities and mortgage details? |
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Yes, our experienced sales team
will be able to talk you through
every step of the process.
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Do
we have an option of financial
arrangements? |
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Yes, financing can be obtained
in St. Lucia, providing the
financial institution’s
requirements are met. We
recommend The Bank of Nova
Scotia and First Caribbean
International Bank both with
whom we regularly conduct
business.
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Will I need an attorney to
finalize the sale? |
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Yes. We recommend McNamara &
Company and Floissac Fleming &
Associates, who can also assist
you in obtaining an Alien
Landholding License if required.
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What are the payment terms to
purchase? |
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Sea Breeze
Hills & Sea Breeze Heights land
sales:
The
fee to reserve any lots is
US$5,000, to be paid within 14
days of viewing the lots. A 10%
of the purchase price less the
reserve fee of US$5,000 is
required upon execution of the
sale agreement. The remaining
balance is to be paid within 90
days for non-nationals where an
Alien Landholding License is
required.
Island Club Villa sales: A
10% deposit is required to
secure the purchase. A payment
plan will be established for the
remaining balance at Contract
Signing.
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What taxes are applicable when
purchasing land here? |
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To
purchase land a 2% stamp duty is
required plus a non-refundable
Alien Landholding License
application fee of $600US. The
cost of the actual License is
dependent of the amount of
landholding purchased.
If you sell your land later on
then a Vendors Tax applies at a
rate of 10% of the selling
price. However, if the property
was originally purchased as a
corporate asset then a share
transfer tax of 5% applies at
the time of sale.
An
annual property tax on 5% of the
unfurnished rental value of the
property may apply and an annual
rental income tax applies for
those entering the rental pool.
However, the developer is
working with the government in
an attempt to secure a ten year
exemption of the rental income
tax.
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What happens to my property if I
pass away? |
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Your property passes to your
heirs even if they are overseas.
As with all property owners it
is always advisable to have a
will to facilitate this process
and a will from the owner’s
country of domicile will be
recognized in St. Lucia.
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Is
St. Lucia a safe place to live? |
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Although some crime does exist
any and everywhere, St. Lucia is
safer than most major cities
throughout the world. However,
to further ensure peace of mind
Sea Breeze Hills, Sea Breeze
Heights and The Pointe at Cas en
Bas will be gated communities
with twenty-four hour security
attendants.
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What is the social life in St.
Lucia? |
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This island is a friendly place
with many sporting and cultural
activities available in addition
to the excellent golf, all only
moments away from Cap Estate
East Development. From horseback
riding to water sports and scuba
diving to lazy days on the beach
to a rigorous tennis match or
hike through the rainforest, St.
Lucia offers first class
facilities. Enjoy the superb
cuisine at one of the island’s
finest restaurants or a casual
drink at a local bar with new
friends. Frequent art exhibits
of regional artists are held in
Rodney Bay and gala charity
events round out the yearly
social calendar. There’s as much
or as little as you want to do
in St. Lucia.
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What is the monetary currency in
St. Lucia? |
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St.
Lucia, an independent nation
with a “parliamentary style
government”, along with the
other nine countries of the OECS
(Organization of Caribbean
States) use the Eastern
Caribbean Dollar or $EC which
has a fixed exchanged rate to
the $US at a rate of $US1 to $EC
2.70. Local banks also convert
most other major currencies but
at fluctuating rates.
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How
close are the nearest medical
facilities? |
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Private doctor’s offices,
dentists and health clinics are
all located in the Rodney Bay
Area. The main hospital facility
for the north, Victoria
Hospital, is located just south
of Castries as well as the
private facility of Tapion
Hospital, both only 20 minutes
away.
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Where are the nearest police and
fire stations? |
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Both the police and fire
stations are located only 5
minutes away in Gros Islet. Dial
911 for fire and ambulance and
999 for police. A rapid response
unit of the police is also
stationed in this area for more
immediate police emergencies.
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