{"id":136,"date":"2015-10-29T00:18:39","date_gmt":"2015-10-29T00:18:39","guid":{"rendered":"http:\/\/173.230.254.226\/~michalanders\/realestate\/?p=24"},"modified":"2015-11-06T16:45:36","modified_gmt":"2015-11-06T16:45:36","slug":"investment-incentives-in-st-lucia","status":"publish","type":"post","link":"https:\/\/www.stluciacitizenshipblog.com\/investment\/investment-incentives-in-st-lucia\/","title":{"rendered":"Investment Incentives in St Lucia"},"content":{"rendered":"<p>The Government of Saint Lucia provides incentives to encourage investment in approved products\/sectors by providing c such as relief from custom duties on the importation of raw materials, plant, machinery and equipment to be utilised in the business activity and may also grant tax holidays. There is also unrestricted repatriation of profits and carry forward of losses for up to two years.<\/p>\n<p><strong>Fiscal Incentives<\/strong><br \/>\nTo qualify for fiscal incentives offered by the Government of Saint Lucia, an enterprise must meet the following criteria:<br \/>\ni. The enterprise must be incorporated and registered in St Lucia.<br \/>\nii. The enterprise must contribute to the economic development of St Lucia.<br \/>\niii. The country\u2019s human and natural resources must be utilized.<br \/>\niv. The enterprise must train local personnel and upgrade its plant through technological transfer.<br \/>\nv. The enterprise must form linkages with other economic sectors.<br \/>\nvi. The enterprise must contribute to earnings in foreign exchange.<\/p>\n<p>The Government of Saint Lucia offers a range of tax and non-tax incentives to the under the incentive regime. Approval of an enterprise for these incentives is granted by Cabinet upon application, unless otherwise specified.<\/p>\n<p>Incentives Offered:<br \/>\n\u2022 Tax Holiday up to a maximum of fifteen years.<br \/>\n\u2022 Waiver of Import Duty on imported plant, machinery and equipment.<br \/>\n\u2022 Waiver of Import Duty on imported raw and packaging materials.<br \/>\n\u2022 Carry forward of losses.<br \/>\n\u2022 Unrestricted repatriation of Profits and Capital.<\/p>\n<p>Please note that these incentives are not specific to any one industry and are a general description of what is available. For more information about the specific incentives that your business may be eligible for, please contact Invest Saint Lucia.<\/p>\n<p><strong>Tourism Incentives<\/strong><\/p>\n<p>Tourism Incentives Act<\/p>\n<p>Tourism Stimulus and Investment Act(Until March 31, 2020)<\/p>\n<p>Special Development Areas Act(Heritage and development inducing tourism products)<br \/>\nExemption for up to 15 years.<br \/>\nExemption on building materials, articles and equipment.<br \/>\nLimited Liability Company entitled to distribute profits as capital free of tax 2 years after the end of the tax holiday.<br \/>\nExemption for up to 25 years.<br \/>\nExemption for interest received during development.<br \/>\nExemption on imports including fixtures and fittings.<br \/>\nExemption on alternative energy and energy saving equipment.<br \/>\nNo VAT on building materials and locally produced art and craft.<br \/>\nNo Corporate tax during development phase.<br \/>\nNo Property tax and Alien Landholding License fee during development.<br \/>\n-Exemption of stamp duty and vendors tax on transfer or sale of immovable property on initial transfer.<br \/>\n-Percentage tax credit for financial institutions based on the quantum of investment.<br \/>\nExemption for interest received during development.<\/p>\n<p>Exemption on inputs of construction of new building or renovation or refurbishment of existing buildings.<br \/>\n-Stamp Duty on construction inputs &amp; initial purchase of property.<\/p>\n<p>No Land and house tax<\/p>\n<p>No Alien Landholding License fee<\/p>\n<p><strong>Incentives for Special Development Areas<\/strong><\/p>\n<p>The Special Development Areas Act is aimed at promoting balanced spatial and economic development of the island. The legislation provides incentives to investors\/developers for the establishment of certain types of businesses in specially designated areas that are endowed with the necessary infrastructure and amenities for business development. The special development areas are Vieux-Fort, Anse La Raye, Soufriere, Canaries, Micoud, Cul de Sac Valley, and Choc Estate.<\/p>\n<p>Individuals and\/or Companies can obtain the following concessions on:<br \/>\n\u2022 Import duty on inputs for the construction of new buildings and the renovation or refurbishment of existing buildings.<br \/>\n\u2022 Land and house tax.<br \/>\n\u2022 Lower corporate taxes.<br \/>\n\u2022 Stamp duty payable by vendors and purchasers on the initial purchase or property, whether nationals or non nationals.<br \/>\n\u2022 Aliens Landholding licence fee.<\/p>\n<p>The following are the types of businesses, which qualify for concessions:<br \/>\no Conference Centres.<br \/>\no Residential Complexes.<br \/>\no Commercial or Industrial Buildings, including Office Complexes.<br \/>\no Other facilities directed towards the improvement or expansion of services to the tourism sector.<br \/>\no Water based activities.<br \/>\no Tourism projects highlighting the heritage and natural environment of Saint Lucia.<br \/>\no Arts and cultural investments.<br \/>\no Agricultural-based activities.<br \/>\no Fisheries-based activities.<\/p>\n<p><strong>Freezone Benefits<\/strong><br \/>\nThe incentives that a company may qualify for based on its location operating within the Free Zone include:<br \/>\n\u2022 Exemption from custom duties, taxes and related charges on all classes of goods entering the Freezone for commercial or operating purposes.<br \/>\n\u2022 No restriction or taxes on foreign exchange transactions.<br \/>\n\u2022 No taxes on dividends for the first 20 years of operation.<br \/>\n\u2022 No work permits fees for management personnel of the Freezone businesses.<br \/>\n\u2022 No import or export licenses.<br \/>\n\u2022 No price control.<br \/>\n\u2022 No company income tax for the first five years, thereafter very limited tax range.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Government of Saint Lucia provides incentives to encourage investment in approved products\/sectors by providing c such as relief from custom duties on the importation of raw materials, plant, machinery and equipment to be utilised in the business activity and may also grant tax holidays. There is also unrestricted repatriation of profits and carry forward [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":[]},"categories":[3],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Investment Incentives in St Lucia<\/title>\n<meta name=\"description\" content=\"The Government of St Lucia provide incentives to encourage investment in approved products\/sectors by providing relief from custom duties on the importation\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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