Buying Process Barbados

The government of Barbados encourages foreign investment in property on the island with a number of policies designed to remove restrictions on foreigners buying and selling land and property.

Another important benefit for owners is the absence of any capital gains tax on the sale of a property. These policies encourage foreign investment, in particular at the luxury end of the market for upscale villas and townhouses.

Transaction Costs

In September 1999, the property transfer tax of 10% on the purchase of a property by non-nationals was removed. Sales commissions and survey costs are borne by the vendor. Each party bears their own legal fees which are based on a scale of fees ranging between 1.5% and 2% plus VAT at 1.5%.