ESTATE COMPANIES & ARCHITECTS IN THE BRITISH VIRGIN ISLANDS
|Real Estate is a
hot commodity in the British Virgin Islands. Foreign property
purchasers must obtain a "non-belonger" landholder license, to obtain real estate, which means
hiring a local attorney to prepare. You will also need references from your
local police (where your primary home is), two friends, two character
witnesses and your bank. If you are buying only land, you also must
prove that you plan to develop a home worth at least $250,000 (e.g., by
providing your contract with your builder or architect).
Generally applications are approved in under 2 years, however
the government is working to speed this process up somewhat. Others
call it a stress test, to see if you REALLY love the British Virgin
Islands enough to be laid backed enough to wait it out for the final
closing of your real estate purchase.