2 Bedroom 2 ½ Bath Villa with Private Plunge Pool 2

Priced from $1.7M-$2.1M USD 3,238 total square feet (2,119 sqft of interior + 1,119 sqft of exterior space)

We understand that merely the thought of buying property on a small Caribbean island might result in many questions or stress, so we are here to guide you through the entire process.

1. Put down a $20k fully refundable deposit to stick a pin in your chosen Villa toreserve it for 60 days.

2. Ifyouchoosetoproceed,you’llenterintoanAgreementforSalefortheLot and a Construction Agreement for the Villa.

3. You’ll be asked to top up the deposit to 10% of the full purchase price.

4. To get things moving promptly, construction can begin at this point.

5. During the build, you’ll be asked to pay 4 construction stage payments with each stage being independently verified as completed.

6. The fifth and final stage payment will be due upon the issuance of a Certificate of Completion.

If you are not from the British Virgin Islands, you will need to apply to the BVI Government for a “Non-Belonger’s Land Holding Licence”. The Licence gives you permission to own the specific lot you are interested in. You’ll need a police certificate to show you are not a criminal, bank statements to show you can afford it and some references. You can purchase the property in your own name or as a company. The process is pretty much the same.

Currently the Licence process is taking around 6-9 months. We are, of course, in the Caribbean and the pace of life is a little slower, so don’t panic if it takes a little longer. After all, isn’t that the whole point of wanting to spend more time in the islands?

However, the deal is structured so that construction can progress whilst the Licence application process happens in the background. Subject to the weather, etc, etc, if all goes well, you should receive the keys to your new completed home in the islands within approx. 18 months from contract signing.*

It is important to us that you are comfortable and that you have received independent, sound legal advice. We will recommend a BVI lawyer to advise you and help with the Agreement for Sale, your application for the Licence and closing. Your closing costs will be in the region of 14% including stamp duty, legal fees, Licence fees, appraisals and surveys.

*Note: In the really, really unlikely event that your Licence is not approved, you’ll be able to use the Villas as yours until it is sold on, enabling you to get your money back. The alternative is to wait until the Licence is approved before construction begins.