A Guide to Buying Property in St Vincent
St Vincent is a beautiful Caribbean island which is actively volcanic. The wonderful scenery and the location of this relatively small island (18 miles by 11 miles) make it an extremely popular destination for holiday goers and families.
This beautiful place is ideal for investment opportunities; the sun, sand and wonderful wildlife makes this place a spectacle to see. This wonderful country is only 100 miles west of Barbados and shares the same sort of climate; hot and sunny.
It is not hard to see why so many people choose to find a dream home in the Caribbean in St Vincent. This spectacular island is very popular for home buyers and tourists and has been for years.
The St Vincent Property Buying Process
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If you are a foreign national then you are required to obtain an Alien Landholding License (ALL) in order to purchase a property here. You will definitely need to find a lawyer in order to oversee your property purchase and give you advice when needed. You will be required to make a 10 percent deposit to take the property off the market once your offer has been accepted.
Transfer tax is also payable by the purchaser and should be paid directly to the government, whereas registration tax is paid to the lawyer.
It is actually relatively straight forward because your lawyer will take care of the residency forms and applications you need after you have paid the deposit. You can expect the whole process to take about 6 to 10 weeks – which is actually pretty quick when you consider other countries.
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