Buying property in the Caribbean

Who can buy in the Caribbean

The Caribbean comprises over 700 islands, divided into 30 territories, and the process of buying a home varies between the islands. Despite variations in the process, most islands require prospective buyers to register with a central bank.

Some islands will offer residency in return for investing in property, known as the ‘golden visa’. English-speaking islands, such as Antigua, Barbados, and St. Lucia, follow a British-based buying system, whereas French Caribbean territories, such as St. Barts, St. Martin, and Martinique, follow a French buying process.

Taxes and costs in the Caribbean

• Many islands peg their currency to the US dollar, making it easier for buyers to calculate purchase costs.
• When purchasing a property in the Caribbean, taxes tend to be low but vary by island.
• On some islands, business licenses may be required if owners lease their properties, and stamp duty may be payable on the annual rent.
• Fees vary between islands, and real estate agent fees can be set by a professional body, which may result in higher costs than international buyers are used to.