Buying property in the British Virgin Islands
Homeowners seeking an off-the-beaten-track, unspoilt paradise need look no further than property in the British Virgin Islands.
The main hubs of the more than 50-island territory are Tortola, whose thriving financial centre attracts active business professionals, and Virgin Gorda, widely-regarded as offering some of the world’s best sailing and fishing.
The sparsely populated territory, which hosts exclusive luxury resorts, including Richard Branson's Necker Island, has one of the most prosperous economies in the Caribbean.
The low-tax status of the BVI makes the nation popular with investors and offshore companies.
The BVI remains tranquil year-round as it attracts less than a tenth of the more than 6 million tourists that visit the Bahamas each year.
Buying, owning and selling properties in the BVI
Expats seeking to purchase property in the BVI must apply for a Non-Belonger Land Holding License (NBLHL), which takes between three and nine months to obtain.
Buyers pay a 10 per cent deposit, which is held in escrow until the transaction completes.
For those buying empty lots, the government requires owners to build within 3-5 years with a minimum expenditure of $250,000.
Owners seeking to rent their properties must have requested permission to do so when they first apply for the NBLHL.
Buyers pay stamp duty – between 4 per cent and 12 per cent – as well as legal fees. Seller’s pay the 6 per cent to 8 per cent real estate agent’s commission.
Education
A small number of excellent private schools are open to overseas residents relocating to the BVI.
The territory has ten primary and three private secondary schools, including the Cedar School, which offers the International Baccalaureate, and Century House Montessori School.
There is just one university in the territory – University of the Virgin Islands – which offers bachelors and masters degrees in business, education, liberal arts & social sciences, nursing and science, and mathematics.
Activities
Open water adventures are the main attraction for those on the BVI, a mecca for sailing.
Chartering a yacht or catamaran off Tortola or Jost Van Dyke and exploring tiny outcrops, such as Sandy Split or Guana Island on the journey, is a popular activity.
Watersports enthusiasts are also spoilt for choice, with surfing, kitesurfing, kayaking and flyboarding all on offer, as well as diving at popular spots such as Salt Island’s RMS Rhone wreckage.
For downtime in virtually peerless beach-side locations, private island resorts including Necker Island and Scrub Island must be experienced.
Hikers are also well catered for, with national parks such as The Baths offering exciting treks to unadulterated beaches.
Culture
The BVI has an outstanding reputation for delicious cuisine, whether served up in picturesque beach-front restaurants or trendy street food stalls.
Memorable dining spots are in abundance in the BVI, with Cocomaya on Virgin Gorda, The Sugar Mill Restaurant on Tortola and the Cooper Island Beach Club serving stunning culinary creations.
Particular delicacies include conch, lobster and BBQ or jerk chicken, while dessert menus regularly make use of the island’s bountiful rum.
The BVI’s annual Food Fete in November, a month-long celebration, showcases the very best cuisine the territory has to offer.
The capital Road Town plays host to most of the BVI's museums, including the Old Government House Museum, which charts the history and culture of the territory.
Accessibility
Flights from the UK to the BVI usually include one-stop, often at Antigua while US flights tend to go via Puerto Rico or St Thomas in the USVI.
Getting between the islands is easiest by ferry, with Tortola being the BVI's ferry hub.
From St Thomas , visitors are also able to catch a connecting ferry that takes approximately 40 mins.
Charter planes also fly between the islands.
Driving is the most convenient way to traverse each island as there is no transport and taxis tend to be uneconomical.