Are you looking to buy a property in the paradise location of Barbados?

Barbados is known for its exclusivity, high concentration of luxury, diverse inclusivity, warm friendly people, cleanliness, highly developed infrastructure, strong airlift and seaport cruise hubs; earning its name ‘Gem of the Caribbean Sea’. The island is a safe investment with a strong dollar and economy and is considered a leading progressive nation.    

Other than being a central hub between the US and Europe, people purchase property here as holiday homes as they come for holidays for extended periods each year.   

Our colleagues at Chestertons Barbados can help you every step of the way and have put together a guide to the buying process in the beautiful country that they call home.

There are no restrictions to non-nationals purchasing property in Barbados.

• Nil Capital Gains Tax
• Nil Inheritance Tax
• Transaction Costs: Attorney Fees are 1% – 2% plus 17.5% VAT

Purchase Procedure

• Verbal offer and acceptance
• Appointment of an attorney-at-law
• Exchange of contracts for sale and payment of a 10% deposit to the vendor’s attorney-at-law. The remaining 90% of the balance due is paid at time of conveyance.
• Conveyance time is approximately three months
• The freehold title may be in an individual’s name or through a corporate vehicle set up to own the property. Non-residents of Barbados tend to purchase property through a company which may be incorporated outside of Barbados.
• Overseas purchasers can secure a 50% to 65% mortgage through a bank in Barbados.

To view properties available to purchase in Barbados, click here.

Our colleagues at Chestertons Barbados are happy to help with any enquiries you may have, you can read more about Barbados, the services the team offer or contact them here.