Tortola Real Estate: General Information
Tortola, the largest and most developed of the British Virgin Islands, is a mecca of sailing and scuba diving. But villas in Tortola aren't just for those with sea legs: visitors of all stripes will appreciate its family-friendly appeal, shopping and great beaches. Villas for sale in Tortola are also convenient for buyers from far and wide, with a busy airport and ferry terminal and the US dollar as its official currency.
- Stamp duty: 12% paid to the government by the buyer
- Non-belongers license (including UK citizens): typically $800-$1,800, including application and processing costs
- Legal fees: 2% of the first $100,000 and 1% of the remaining; minimum of $150
- Deposit of 10% is standard, but does not legally bind until contracts are exchanged
- Properties can be either freehold or leasehold ownership; most properties are freehold
- No capital gains tax
- Financing available on-island: 70-80% of property value for terms of 20-30 years; interest rates at 7-8%
- House insurance: typically 1.5% of replacement cost per year
This material is based upon information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. These offerings are subject to errors, omissions, changes, including price, or withdrawal without notice.