Good News For Caribbean Buyers

Recently, the government in the British Virgin Islands (BVI) announced plans to help stimulate real estate sales by relaxing restrictions for foreign buyers. Specific plans include a new 90 day automatic approval for a landholder license. They are also focusing on catering to the needs of a luxury buyer through airport improvements and communications infrastructure enhancements such as better cell service and high speed internet access.

Over in the Cayman Islands we’re seeing improvements as well, with the government there temporarily lowering rates on real estate transfer taxes. Today, the tax on a waterfront property would be as low as only 5% vs the previous 7.5%. So if you’ve been considering a second or third home in the Caribbean, now is a great time to take advantage of these opportunities. Click here to see some of the beautiful homes currently available through our exclusive Caribbean luxury real estate brokers.