You Too Can Own A Property In Barbados

Barbados is the most attractive and desirable location for a perfect vacation. It is also considered to be the best destination for property investment due to a number of reasons like climate, culture, beauty, beaches, standard of living etc. There are many properties that are available here in different price range. Businessmen and high end people can always own their second home here. Barbados has a very small population hence the government has laid down very lenient rules for a non-national to invest in properties in Barbados. They can also provide financial assistance to them.

Different types of properties for investment in Barbados

 • Beachfront Properties

 • Villas

 • Gated communities

 • Residential developments

 • Retirement homes

 • Luxury Homes

 • Townhouses

 • Condominiums

 • Commercial development

 • Hotel resorts

 • Apartments

 • Guest Houses

Different services offered by real estate agents and property management agents

 • Real Estate Management services

 • Property Sales

 • Real Estate brokerage

 • Property Consultancy Services

 • Commercial and Luxury management services

 • Holiday rentals

 • Villa rental

 • Long term rental

 • Short term rental

 • Land Sale

Checklist for property investment in Barbados

Legal Advice: It is necessary to find a reputed lawyer to get proper advice related to all property transactions. They are also needed to understand all the legalities, agreement terms, insurance policy etc. regarding the property. The lawyer is the link between the buyer and the seller. He will fulfill all the process and formalities such as name transfer, payment of deposit, transfer tax, stamp duty, insurance formality etc. The payment of fees to the lawyer is charged as a certain percentage on the purchase value of the property.

Town planning Act: As per the town planning act of Barbados one needs to take permission for any land development like construction, renovation, development of projects etc. When a land is purchased the purpose of purchase should be disclosed to the town planning department and all necessary approvals should be obtained.

Tax Advice: One needs to consult with a local tax advisor for all the tax related issues when investing in a property in Barbados. The lawyer can also provide suggestion on the same. One should also take complete information on all the tax exemptions and deductions besides all the tax implications that are imposed on purchasing a property in Barbados.

Exchange control regulations: If the funds for the investment in property are arranged externally it is mandatory to obtain an approval from Exchange control authority. This is applicable in both cases if the non-national is buying or selling the property in Barbados. A registration with the Central bank of Barbados is done and an approval is obtained. The lawyer can do this on the owner’s behalf. This can also provide an assurance for funds in case the owner wants to sell the property.

Property management: A non-national can always take the help of property management agents to handle all the property related payments like land tax etc. These agents offer a number of services as per the needs of their clients. They ensure smooth management and maintenance of the property on behalf of the owner. 





About the author


A non-national can always take the help of property in Barbados management agents to handle all the property related payments like land tax etc! Read more.