Ins & Outs of Barbados 2023

105 Property& Investment » There are no restrictions on foreign ownership of property in Barbados. » Non-residents must ensure that all funds for the purchase are available from external sources. » US Dollar mortgages are available to non-residents from the offshore sector of local banks. » All money brought into Barbados should be registered at the Central Bank to facilitate repatriation if the property is sold. » The permission of the Exchange Control Authority must be obtained for the sale or purchase of property by a non-resident. » There is no Capital Gains Tax in Barbados. » Property must pass conveyance of title, executed by a registered Barbadian attorney. » Transaction costs include real estate agent’s fees, attorney fees, stamp duty, transfer tax, land tax - Please seek professional guidance for up to date information and rates. Typical Purchase Process » Ensure you have the requisite funds available. » Identify the property you wish to purchase. » Make a verbal offer and get acceptance. » Appoint a registered Barbadian attorney. » Exchange of contracts. » Pay 10% deposit. » Conveyance completed. » Pay 90% balance. At-a-Glance Facts For Overseas Purchasers Cragmere & Windermere Crane Vi a Villas Lizzie Moore Lizzie@mooreco.ca 1 (902) 240-5760 www.cranevista.com Matthew Moore info@mooresuites.com 1 (902) 877-5350 Windermere Villa brenda@windermerebarbados.com 1 (416) 894-9877 luxury, privacy, and superb ocean views at two highly acclaimed, award-winning villas AWARDED BY "heaven on earth"