This is a question top of the list for any possible investor in property in St Lucia. In the case of Villa Karibu, the property is ultimately held in an IBC (International Business Company).
- Normally a foreigner would need to obtain an Alien Landholding Licence (ALL). However because one has already been issued for this property and the property is owned by an off-shore IBC, any buyer of Villa Karibu doesn’t need to apply for a new licence. Unlike if you purchased a property from a private individual or St Lucian company.
- Because the property is owned by an IBC the sale is merely a share transfer. This is a quick process to arrange and significantly cheaper in taxes and fees.
- At the time of writing a normal purchase of a property would land the purchaser with a 2% stamp duty fee. Whereas purchasing the company that owns Villa Karibu only incurs a 0.5% share transfer tax.
- A sale of Villa Karibu can be completed in weeks rather than normal property purchase in St Lucia which can take more than 6 months to complete.
If you have any further questions about purchasing Villa Karibu or regulations surrounding property purchase in St Lucia please do not hesitate to get in touch.