Buying Real Estate in the BVI
Blunder Bay Estates has the real estate expertise and the experience to make the building of your island villa a stress-free procedure without unnecessary delay. We have our own legal experts as well as a working relationship with the BVI government which will help to accelerate the process.
Non-belonger Land Holding Licence
Overseas investors, including UK citizens, need a non-belonger Land Holding Licence to buy property in the British Virgin Islands. Blunder Bay Estates will organise the necessary documents on your behalf to obtain the licence.
Building in the BVI is regulated by the Planning Authority’s guidelines. Prior to a construction permit being tendered, the Blunder Bay architectural review committee will ensure that the plans conform to the estate’s construction principles.
Blunder Bay Estate’s building standards for home owners’ planned houses may exceed those required by the BVI authorities. This is because we want to protect all of the home owners’ investments as well as the quality of the estate’s design. However ultimate authorisation for construction plans lies with the BVI planning authorities.
Blunder Bay will
- Conserve the splendour and peaceful ambience of Blunder Bay
- Ensure that lines of sight are unspoilt
- Verify that construction plans comply with BVI planning rules and our own rigorous building standards
Favourable and uncomplicated, a buyer pays the following rates of tax –
- Non-belonger stamp duty at 12 per cent of the selling price or appraised value of the property
- Annual land tax on acreage – $50 for the first half acre or less; $150 for the next half to one acre; $50 for each additional acre
- House tax assessed yearly at a rate of 1.5 per cent of the assessed annual rental value
- Income arising from renting out a property is taxed at 7 per cent