Yacht berths in Caribbean

The rules to buy property in Caribbean countries vary slightly but generally follow a similar pattern. 

Citizens and residents of St Kitts and Nevis, Antigua and Barbuda, Dominica, Grenada, and St Lucia can buy real estate freely without restrictions. 

Foreigners can also buy property, but in most cases, they must obtain a special Land Holding Licence. This licence usually costs a percentage of the land price — around 10% in most countries, and 2.5% in Antigua and Barbuda — and is required to legally own land. 

However, foreigners who buy property through the citizenship by investment programmes in these countries are exempt from paying for or obtaining the licence.

Property prices in the Caribbean vary across countries but generally reflect the appeal of resort and coastal locations. 

Properties for sale in Caribbean islands like St Kitts and Nevis and Antigua and Barbuda range from about $3,500 to $8,000 per square metre, with apartments starting around $400,000 and villas often exceeding $1,000,000. Both markets are experiencing growth, especially around popular tourist areas. 

Dominica’s property prices are lower on average, estimated at $500—5,000 per square metre, with higher values in the capital and coastal resorts. 

Grenada offers housing starting at roughly $1,000 per square metre, with modern homes around $2,500 and steady annual price increases, while prime locations can reach multi-million-dollar villa prices. 

St Lucia has an average cost of about $6,500 per square metre, though remote areas can be cheaper, with the most expensive properties near beaches and in the capital, Castries.

The property purchase process generally follows a similar pattern in the Caribbean:

1. Those looking to buy Caribbean property can often select options remotely through verified databases and first enter a preliminary purchase agreement, usually paying a 10% deposit to reserve the property. 

2. Foreign buyers typically need to obtain a land ownership licence unless they participate in the country’s citizenship by investment programme, which exempts them from this requirement. 

3. After securing the licence and completing Due Diligence, the buyer and seller sign the main purchase agreement, and the buyer pays the remaining balance along with any taxes and fees. 

4. Finally, ownership is officially recorded through a certificate issued by the country’s state registry.

In the Caribbean, buyers of real estate for sale in the Caribbean typically face a range of taxes and fees that vary by country. 

Foreigners usually must purchase a land ownership licence, costing 2.5—10% of the property value, although participants in citizenship programmes are exempt. 

Additional taxes include transfer or stamp duties, ranging 2—15%, depending on the country. For example, Grenada charges a 15% transfer tax, while Antigua and Barbuda and Saint Lucia apply rates around 2%. 

Buyers may also be responsible for legal fees and insurance premiums, and some countries divide property taxes between land and buildings. 

Overall, total additional costs can reach around 10% or more of the property price, varying with property type and location.

Citizenship by investment programmes allow foreigners to buy real estate in the Caribbean and gain second passports. 

Each country sets a minimum investment amount, ranging from $200,000 in Dominica to $325,000 in St Kitts and Nevis. Another requirement is to hold the property for a specific period, typically 5 years, but there is a 3-year threshold in Dominica and a 7-year threshold in St Kitts and Nevis. 

Properties are often hotel complexes or approved private homes, and resale is restricted during the holding period. 

This route offers a straightforward way to gain citizenship in St Kitts and Nevis, Antigua and Barbuda, Dominica, Grenada, and St Lucia.