Everything you need to know about buying, selling, and investing in Barbados property.
Curious about Barbados property? You’re in the right place.
We’re here to help you navigate buying, selling, and investing in island real estate with confidence.
Disclaimer:
All information provided is for general guidance only and may change without notice. Details should be independently verified with the appropriate legal, financial, or real estate professionals. This content does not constitute legal, tax, or financial advice.
Buying Process
The complete 8-stage buying process:
Total timeline: Typically 4–8 months from offer to registered ownership.
No, you don't need to be physically present throughout the entire process. Many of our clients complete their purchases remotely.
What you'll need:
We recommend visiting at least once to view properties in person, but with modern technology, virtual tours and digital document signing make remote purchases entirely feasible.
An exclusive agent represents YOUR interests throughout the buying process, not the seller's. Working with an exclusive agent means:
Important: In Barbados, if you contact a listing agent directly, they represent the SELLER, not you. Having your own exclusive agent ensures your interests are protected.
Yes! Barbados welcomes foreign property ownership. There are no restrictions on non-residents purchasing real estate.
What you'll need:
Central Bank registration: Funds used for the purchase must be registered with the Central Bank of Barbados through your appointed attorney-at-law. This ensures that funds can be repatriated when the property is sold and is a standard part of the conveyancing process.
Personal ownership is better for those intending to hold their asset long-term,
primary residences, and smaller to mid-value properties.
Succession & Estate Planning
Ring-Fencing of Liability
Clarity for Investment Use
Continuity of Ownership
Higher Costs on Sale
Ongoing Compliance & Administration
Rental Income Taxation
Best Suited For
Beyond the obvious (condition, size, layout), consider:
Location factors:
Property specifics:
Legal considerations:
Use our Home Search Worksheet (in the Buyer's Guide) to systematically evaluate each property.
Selling Process
Use our Pre-Market Checklist to gather essential documents:
Physical preparation:
We use a comprehensive approach combining:
We'll provide:
Proper pricing is critical—overpricing leads to extended market time and lower final sale price, while underpricing leaves money on the table.
Comprehensive marketing package includes:
Throughout the process:
We handle all showing logistics:
Your role:
We'll review the offer together, analyzing:
Your options:
We'll provide our professional recommendation based on market conditions, your goals, and the strength of the offer. You're never obligated to accept the first offer.
Absolutely! Many sellers are also buyers, moving to a different property that better suits their current needs.
We can help you:
Let us know at the start of the selling process that you're also interested in purchasing, and we'll create a strategy to make your transition smooth.
Costs & Fees
Total base costs for buyers: 1–6% of the purchase price (depending on whether a company structure is used, financing is required, and overall transaction complexity).
Legal fees: 1–2% plus 17.5% VAT
If establishing company ownership: Approximately US$1,500+ for company registration and setup.
If obtaining financing:
At completion:
Ongoing monthly costs (check out our running costs calculator):
Insurance: Paid yearly. Includes contents and external insurance if not already covered within HOA fees.
Land tax: Paid yearly (check out our Land Tax calculator).
Total base costs for sellers: 9-11% of sale price
If owned through a company:
Additional potential costs:
Many sellers structure ownership through a Barbados company rather than personal ownership. This strategy provides significant savings:
Tax savings with company ownership:
Trade-offs to consider:
For higher-value properties, company ownership can save tens of thousands of dollars. Discuss with your attorney before listing to determine the best strategy.
Land tax is an annual property tax assessed by the Barbados government based on property value.
How it works:
At closing:
Use our Land Tax Calculator (in the Tools section) to estimate your annual land tax based on property value.
Annual maintenance typically runs 2%-6% of property value, including:
Regular maintenance:
Utilities:
Insurance:
HOA fees (if in a community): Vary widely from $100-$1,000+ monthly depending on amenities
If renting your property:
Download our Expense Calculator from the Tools section for a detailed breakdown customized to your property.
Taxes
No.
Barbados does not charge capital gains tax on the sale of property, whether the property is owned personally or through a company.
Rental income earned in Barbados is taxable in Barbados.
Personal ownership: taxed at personal income tax rates.
Company ownership: taxed at corporate tax rates.
Allowable deductions may include management fees, maintenance, insurance, and other operating costs.
Possibly.
Barbados has double taxation treaties with several countries (including the UK and Canada), which are designed to prevent the same income from being taxed twice. However, how this applies depends on:
Your country of residence
Your personal tax status
Whether the property is held personally or through a company
This is where tailored advice becomes important.
Yes.
Inspired works closely with experienced local tax advisors who regularly assist international buyers. We are happy to make an introduction so you can receive proper, personalised advice before deciding on the most suitable ownership structure.
Important note:
This information is provided for general guidance only and does not constitute tax or legal advice.
Buyers should always seek independent professional advice tailored to their circumstances.
Legal & Requirements
A Barbados attorney is legally required for all property transactions and provides critical services:
For buyers:
For sellers:
Both parties have separate attorneys to represent their individual interests. Your attorney is YOUR advocate throughout the transaction.
The conveyancing period is the time between signing the Sale Agreement and completion (final payment and ownership transfer). Typically 3-8 months depending on financing structure.
During this period, the buyer's attorney:
The length varies based on:
During this time, the seller cannot sell to anyone else, and the buyer's 10% deposit is held in escrow.
Your attorney's due diligence is designed to uncover any problems before you're legally obligated to complete the purchase.
Common issues discovered:
Resolution options:
This is why the conveyancing period exists—to protect you from inheriting problems.
Title insurance is not common in Barbados because the Land Registry system and attorney due diligence provide strong protection.
Why it's typically unnecessary:
If you're financing: Your lender may require title insurance, which you'll need to purchase.
Discuss this with your attorney if you have concerns about your specific property
The ability to cancel depends on when you want to withdraw:
Before signing the Sale Agreement:
After signing but during conveyancing:
After completion:
Protection strategies:
Financing & Mortgages
Yes! Several Barbados banks offer mortgages to non-residents, though requirements are stricter than for residents.
Typical requirements:
Loan terms:
We can connect you with:
Absolutely! Mortgage pre-approval provides critical advantages:
Benefits:
Pre-approval process:
Note: Pre-approval is not a guarantee—final approval depends on property valuation and title clearance.
Complete mortgage timeline:
Pre-approval: 1 week
During conveyancing: 4-8 weeks
Before completion: 2-4 weeks
Total mortgage timeline from application to final approval: 6-12 weeks
Critical: Ensure your Sale Agreement allows sufficient time for mortgage processing. Your attorney and we will help you negotiate appropriate timelines.
Beyond standard buyer costs, financed purchases include:
These additional costs typically range from $2,000-5,000 USD depending on property value and lender requirements.
Your attorney will provide a detailed cost estimate once you're under contract.
Possibly, but it's complex and often impractical:
Challenges:
Alternative strategies:
Discuss with both your home country financial advisor and your Barbados attorney to determine the best financing structure for your situation.
Timeline & Process
Complete timeline for cash buyers:
Stage 1 - Offer & Acceptance: 3-5 days
Stage 2 - Appoint Attorneys: Immediately
Stage 3 - Sale Agreement & 10% Deposit: 2-4 weeks
Stage 4 - Conveyancing & Due Diligence: 3-6 months
Stage 5 - Completion: 1 day
Stage 6 - Post-Completion Registration: 4-6 weeks
Total timeline: 4-8 months from offer to registered ownership
For financed purchases, add:
Complete timeline for sellers:
Step 1 - Preparation: 1-4 weeks
Step 2 - Active Marketing: Variable timeline
Step 3 - Offer & Negotiation: 3-5 days
Step 4 - Appoint Attorney: Immediately
Step 5 - Sale Agreement: 2-4 weeks
Step 6 - Conveyancing Period: 3-6 months
Step 7 - Completion: 1 day
Step 8 - Post-Completion: 2-4 weeks
Time to sale varies based on market conditions, pricing, property condition, and buyer pool. Once you have an accepted offer, expect 4-7 months to completion.
Some stages can be expedited, but certain legal processes cannot be rushed:
Can be accelerated:
Cannot be rushed:
Fastest possible timeline: 3 months for a straightforward cash purchase with clear title, motivated parties, and efficient attorneys. Most transactions take 4-7 months.
To minimize delays:
Common delay causes:
Title issues:
Financial delays:
Documentation problems:
External factors:
To minimize risk of delays:
Completion is the day ownership officially transfers. Here's what happens:
Before completion day:
On completion day:
After completion:
You're officially the owner from completion day, even though formal registration takes a few more weeks.
Buying Pre-Construction (Off-Plan) in Barbados
More favourable pricing & modern finishes
Pre-construction units are typically offered at lower prices than completed homes.
Built-in equity
As construction progresses and the development nears completion, values often increase, meaning buyers may benefit from equity uplift by the time the property is delivered.
Staged payment structure
Rather than paying the full purchase price upfront, payments are usually made in stages tied to construction milestones.
Well suited to savvy investors
This approach appeals to buyers who are comfortable with timelines and want to maximise value growth over the build period.
While structures vary by development, the process typically includes:
Reservation deposit
A refundable or non-refundable reservation deposit is paid to secure the unit, often in the region of US$5,000, depending on the development.
Stage payments
Further payments are made as construction reaches key milestones, such as:
Foundation
Ring beam
Enclosure
Practical completion
Final balance on completion
The remaining balance is paid once the property is completed and ready for handover.
Important considerations:
Terms, payment stages, and protections differ between developments.
Legal review of the sale agreement is essential.
Inspired works closely with reputable developers and experienced attorneys and can guide clients through the off-plan process, including introductions to trusted legal and tax advisors where required.
Ready to Begin Your Barbados Property Journey?
