Looking to invest in some Barbados Real Estate? There are several options available and several local companies to guide you through the process. Contact your Barbados real estate agent for full details of the procedures involved in making that Barbados investment.
Here are a few guidelines for Non-Barbadian buyers of Barbados real estate:
- Land and property are available without restrictions to non-nationals.
- A non-Barbadian buyer must first get permission from the Central Bank of Barbados. This step is merely a formality.
- Vendors are liable for the property transfer tax which is charged at the rate of 10% of the purchase price.
- Financing is available locally for non-Barbadians, however various regulations apply.
If you choose to bring the entire amount of the purchase price into Barbados this amount must be registered with the Central Bank of Barbados.
- It is advisable to employ the services of an attorney-at-law and a reputable real estate agent to handle these transactions. Legal fees are approximately 2% of the purchase price.