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Buying Process

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Buying Process

Whether you’re purchasing residential or commercial real estate in Barbados, we make the entire process seamless and stress-free. With over 60 years of experience in the local market, our team of experts ensures that every step, from finding your ideal property to closing the deal, is efficient and straightforward. Discover key insights below to learn more.

Key Insights:

  • There are NO restrictions to non-nationals purchasing Barbados properties
  • There are no special visas required and non-nationals are welcomed to make Barbados their home
  • There are some simple procedures that involve Foreign currency being brought into Barbados, as well as funds borrowed by non-nationals which should be registered with the Central Bank of Barbados
  • There is no Capital Gains Tax in Barbados so investors are not charged for the appreciation in the value of their property

Transaction Costs:

  • Attorney fees are approx. 1% – 2.5% plus 17.5% VAT
  • You will be expected to pay the proportionate amount of Land Tax

Standard Purchase Procedure:

  • Offer and acceptance (in some cases a reservation agreement may apply)
  • Appointment of an attorney-at-law
  • Exchange of contracts for sale and payment of a 10% deposit to the vendor’s attorney-at-law within two to four weeks
  • Conveyance and payment of 90% remaining balance within three to six months (In the case of off-plan developments, stage payments based on construction progress may apply.)
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