The process of buying property in Montserrat for foreign buyers.
The process of buying property in Montserrat for foreign buyers.

The process of buying property in Montserrat for foreign buyers

It is known as the “Emerald Isle of the Caribbean”, the small island of Montserrat offers relaxing days spent at the edge of the pool and quiet nights watching the stars.

If you are currently contemplating investing in real estate in Montserrat, but you are admiring where are the best places to buy property in Montserrat?

The process of buying property in Montserrat from beginning to end, including the beginning of the real estate market, the purchase process, and taxes that you should know about.

Montserrat Real Estate Market

When Beatles producer George Martin looked for the ideal location to build and operate a music studio in a delightful location away from the crowds, he chose the small, green mountain-covered island of Montserrat. Music stars from Paul McCartney to Eric Clapton traveled to Montserrat and discovered an island paradise. 

The attraction that attracted those famous families to the island decades ago has been fortunately retained and the Montserrat property market today offers waterfront homes at significantly lower prices than other comparable investment locations in the Caribbean.

The serene “Emerald Isle of the Caribbean” attracts a dedicated set of snowbirds who return each year via a short flight from nearby Antigua to soak up the sun in their sprawling villas.

With almost no beachfront property, condos, or apartments and a very limited stock of high-quality real estate available, there is a high demand for homes in the most desirable areas, and property prices tend to rise in Montserrat, especially the woodlands. have hope. , From areas such as Olveston, Old Town, and Isles Bay.

Buying Property in Montserrat

Can foreigners buy property in Montserrat?

Yes, foreigners can buy property in Montserrat and Montserrat’s government welcomes investment from foreign buyers. There are no limitations on foreign buyers obtaining real estate in Montserrat. To purchase real estate in Montserrat, foreign buyers must demand an Alien Land Holding License, which costs $ 2,500 or 5% of the purchase price, and approximately 4 to 8 for approval. Approval. It takes weeks.

Buying process

Buying a property in Montserrat is a relatively simple process, which usually involves the following steps:

  • Start your property search.
  • Search your entire property and make an offer.
  • Once you have made an offer on a property and the offer has been accepted, you must appoint a local attorney to assist you in applying for the Alien Land Holding License and in preparing the contract.
  • Upon signing the contract, the buyer is required to pay a deposit that is typically 10% of the agreed purchase price. The sales contract should be conditional upon the application and approval of the Alien Landholding License.
  • Upon approval of the Alien Landholding License, the buyer will transfer the balance of the purchase price.
  • Pay all required taxes and fees.

At closing, the seller signs a memorandum of transfer, and the buyer will receive the title of the property.

Transfer fee and stamp tax

Buyers are responsible for the payment of transfer fees and stamp tax which is 2.75% of the price of real property.

Legal fees

In addition, buyers will be required to cover the cost of their attorney’s fees which is usually a total of 2% of the purchase price of the property.

Property tax

There is an annual residential land tax rate of 0.05% per year and a building tax rate of 0.025% per year.

Find Montserrat Real Estate Listings

As an expert on luxury Caribbean property, we can introduce you to the wide selection of the finest residential property in Montserrat.

House for sale and house for sale

Our website is the ultimate destination for finding a wide selection of villas, homes, and homes for sale in Montserrat, as well as apartments and condos for sale in Montserrat.

Land for sale

You can also browse undeveloped land. Buying lots of land provides you with a blank canvas and the opportunity to build your dream home in Montserrat.

Whether you are looking for beach land or lots located in the center, we are here to help you find the right land for sale in Montserrat.

For large parcels of land for commercial development, please see our commercial real estate listings.

Hotels for sale

Looking for a hotel for sale in Montserrat? Browse hotels, B & Bs, and guest houses here.

Finding the right property for sale in Montserrat

Discover the most in-demand real estate investment opportunities and benefit from unmatched insights into the market.

To find your perfect property in Montserrat, search our Montserrat real estate listing.

Best place to buy property in Montserrat

Woodlands

Located on the mid-west coast, the area of ​​the woodlands is one of the most iconic places to invest in Montserrat real estate. The homes in this quiet residential part of the island are counted among the most desirable homes on the island. The property for sale at The Woodlands enjoys easy access to local shops and restaurants and a clear daytime view of the serene Woodlands Beach, the Caribbean Sea.

Olveston

Located south of the woodlands on the mid-west coast, Olveston is a highly desirable place to buy a house in Montserrat. The quiet residential area is popular for its beautiful waterfront villas for sale, offering views of Woodlands Bay and Lime Kill Bay. Homes in Olveston are ideal for enjoying the quiet, slow-paced lifestyle of Montserrat and the many restaurants in the area such as Olveston House.

Old city and island

The quiet residential area of ​​the Old Town is located on the central west coast of Montserrat, south of the woodlands and Olveston. There are some attractive waterfront villas for sale, which offer spectacular views of the Caribbean Sea, the small uninhabited island of Redonda, and the passing ferry.

Property in the Old Town can be purchased for much less than in other parts of the Caribbean. Isles Bay also offers delightful homes for sale on gently sloping hills to take advantage of the spectacular views of the sea and Isles Bay Beach.

How long can a foreigner live in Montserrat?

While Montserrat is a migrant region of the UK, it has its visa policy. Citizens of the United States, Canada, Britain, the European Union, and many countries in the Caribbean and Latin America are allowed to stay on holiday in Montserrat for 6 months without a visa.

How do you become a resident of Montserrat?

Montserrat operates an economic residency program that allows foreign nationals to deposit EC $ 400,000 in a bank account in Montserrat or invest EC $ 400,000 in real estate in Montserrat to apply for a residence permit.

Foreign nationals who have been legally residing in Montserrat for at least 5 years can apply for a permanent residence permit.

  • How do you become a citizen of Montserrat?

Individuals who have been legally residing in Montserrat for at least 5 years may be eligible to apply for naturalization as a British Migrant Area Citizen under the British Nationality Act.

Sending money to Montserrat

You can save money when investing in Montserrat real estate by using a foreign exchange specialist to get the best rate for your property purchase. We have partnered with foreign exchange specialist Halo Financial to help you get the best exchange rate while making a lump sum or regular international payments for property purchases in Montserrat.

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