Own Real Estate in The Caribbean by Dave Dickey

GLOBAL PROPERTY GUIDE

C aribbean:

Buying Guide

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GLOBAL PROPERTY GUIDE

The Caribbean

EDITOR'S FOREWORD

The Caribbean region was in recovery in 2010. This coming year is expected to be a good year. Tourism stop-over arrivals grew an average of 3.1% in the region in 2010. But consumption and investment remained frustratingly lethargic throughout the region, with rising food and energy prices. Caribbean residential property tends to retain its value well, because buyers are often high net worth individuals with plentiful resources. So while some parts of the US have dropped by a spectacular 50% from the peak, residential property prices in Caribbean countries have not dropped more than 25% and such price-falls have only taken place in some countries. Several Caribbean countries have actually seen price rises. Elsewhere, the downturn means bargains for some buyers of Caribbean property.

Contents Caribbean - map of paradise Opportunities for buyers Western Caribbean Atlantic Islands Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional comparisons

GLOBAL PROPERTY GUIDE Bermuda

Caribbean Map Opportunities for buyers Western Caribbean Atlantic Islands Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Bahamas Turks & Caicos Islands

Cuba Cayman Islands

Jamaica

Haiti

Dominican Republic

Puerto Rico

British Virgin Islands

Anguilla Saint Martin U.S. St. Kitts & Antigue & Virgin Nevis Barbuda Islands Montserrat Guadeloupe Dominica Martinique St. Lucia St. Vincent & The Grenadines

Belize

Barbados

Grenada Aruba Netherlands Antilles Zoomed areas

Trinidad & Tobago

Caribbean Countries by Group Western Caribbean Belize Cayman Islands

Lesser Antilles - Leeward Islands Aruba Former Netherlands Antilles Anguilla Atlantic Islands Antigua and Barbuda Bahamas British Virgin Islands Bermuda Dominica Turks and Caicos Guadeloupe Greater Antilles Montserrat Cuba Saint Kitts and Nevis Dominican Republic Saint Martin Haiti U.S. Virgin Islands Jamaica Constituent countries of the Kingdom Puerto Rico of the Netherlands Lesser Antilles - Windward Islands - Curacao Barbados - Sint Maarten Grenada Autonomous special municipalities Martinique of the Netherlands Saint Lucia - Bonaire Saint Vincent and Grenadines - Saba Trinidad and Tobago - Sint Eustatius

GLOBAL PROPERTY GUIDE

Caribbean Map

Opportunities for buyers Western Caribbean Atlantic Islands Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Opportunities for buyers Some Caribbean countries have been worse hit than others. This is a brief list of those we believe present special opportunites. Trinidad and Tobago Market recovery: Slow House prices: down 20% (2010) Opportunities for buyers: many new developments coming on the market many upscale properties offered at largely reduced prices British Virgin Islands Market recovery: Slow but steady House prices: US$1.2M avg. (3-bedroom); US$3.5M avg. (5-bedroom) Opportunities for buyers: new developments in Tortola and other islands available lands to develop Turks and Caicos Market recovery: Still down House prices: down 20% - 30% (2010); US$1M to US$3M selling well House rents: as much as 50% down Opportunities for buyers: best discounts in the region good selection of properties on Providenciales Island

GLOBAL PROPERTY GUIDE

Caribbean Map

Opportunities for buyers Western Caribbean Atlantic Islands Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Jamaica Market recovery: upper end market to rebound in 2011; lower middle income market active House prices: overpriced properties underwent correction House rents: reduced rates Opportunities for buyers: Large discounts in the upper-end and luxury market Cayman Islands Market recovery: Slow House prices: down 15% (2010) Residential properties: CI$ 676,645 (US$ 823,454) average Condominiums: CI$294,885 (US$358,865) average Opportunities for buyers: Beachfront properties in prime areas like Seven Mile Beach and Cayman Caye US Virgin Islands Market recovery: Slow but steady House prices: US$591,904 (St. Thomas and St. John) average ; US$356,954 (St. Croix) average House rents: US$1,000 to US$1,800/m (1-bedroom apartments); US$3,500 to US$7,000/m (4-bedroom beach houses) Opportunities for buyers: New luxury developments on St. John and St. Thomas Barbados Market recovery: Slow House prices: Stable Construction costs: 20-30% reduction Opportunity for buyers: New condominium developments on the South Coast New luxury residences on the West Coast

ISLAND AFFILIATES

Where will you hang your hammock?

Caribbean real estate is the specialty of our Coldwell Banker affiliated Island Brokers. We are expert at helping you find your โ place in the sunโ . If you are searching for a beachfront vacation rental in Bermuda or land to build your dream island home in the Caymans, we are there for you. Caribbean and Atlantic Island property--be it vacant land, single family homes, villas or simply investment property, our affiliated Island Brokers can help. We cover all of the island countries in the Caribbean basin and Bermuda as well, so your hunt for a second home, vacation or retirement home ends here. Phone: +1 561-691-8130 Email: cbisaf@coldwellbanker.com www.coldwellbankerislands.com

St. Croix USVI

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Bermuda

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Dominican Republic

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Starting at: US $279,900 Listing # V-254-TW

US $2,700,000 MLS # 09-2053

US $8,470,000 MLS # 5659

$PMEXFMM #BOLFS -BOE EF 8JMEF 3FBMUZ Amy Land-de Wilde

BNZEFXJMEF!BUU OFU www.coldwellbankervi.com

$PMEXFMM #BOLFS #FSNVEB 3FBMUZ Brian E. Madeiros

CNBEFJSPT!CSDM CN www.bermudarealty.com

$PMEXFMM #BOLFS "NCFS $PBTU 3FBMUZ Tony Willies

UPOZ!BNCFSDPBTUSFBMUZ DPN www.ambercoastrealty.com

Grand Bahama

Aruba

Turks and Caicos

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US $1,625,000 MLS # 614

US $675,000 MLS # 1014582

$PMEXFMM #BOLFS "SVCB 3FBMUZ Dick A. Sougรฉ EBT!DPMEXFMMCBOLFS BX www.coldwellbanker.aw

$PMEXFMM #BOLFS 3FBM &TUBUF 5VSLT BOE $BJDPT Graham Canham

HSBIBNDBOIBN!DPMEXFMMCBOLFSUDJ DPN www.coldwellbankertci.com

US $3,450,000 Listing # 5560 $PMEXFMM #BOLFS +BNFT 4BSMFT 3FBMUZ James Sarles +1 KBNFTTBSMFTSFBMUZ!HNBJM DPN www.sarlesrealty.com

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers

Western Caribbean

Belize Cayman Islands

Atlantic Islands Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Belize

Prime areas: Ambergris Caye, Caye Caulker, Placencia Capital: Belmopan Currency: Belize dollar (BZ$) Language: English, Spanish, Creole (Kriol) Belize, the only English-speaking Central American nation, has a Caribbean coastline longer than those of many Caribbean islands. One of the least densely populated countries in the Western Hemisphere, it is a diving destination, a tropical rainforest conservation site, and has rich Mayan archaeology. It is home to the second longest reef in the world - the Belize Barrier Reef. Belize is a British Commonwealth member. It has a stable democratic government. Tourism and agriculture are the economy's mainstays. Tourism developments are concentrated in Ambergris Caye, Cayo and Placencia. More than 60% of international visitors come from the US. Foreign buyers are mostly middle-class North Americans. In 1999 the Belize government started attracting more retirees through its Qualified Retired Persons Incentive Program managed by the Belize Tourist Board. Approvals generally take three months. Real estate in Belize is priced in US dollars. The Belize dollar is pegged to the US dollar at the rate of 2BZD:1USD. While real estate costs much less in Belize than in the US or the UK, there are million-dollar houses for sale and some condos can go as high as US$750,000. Most luxury four-bedroom houses are found on Ambergris Caye. Beachfront lots do not come cheap. But it is possible to find buildable lots under US$50,000 - the farther away from the sea, the cheaper. One can also build a new home for less than $100,000.

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers

Western Caribbean Belize

Cayman Islands Atlantic Islands Greater Antilles

Belize (cont.) Buying Property There are very few restrictions on non-nationals purchasing land in Belize. They can buy land anywhere they want, including beachfront property though in some areas there are size limitations for foreigners' buying coastal property. If they want to buy an entire island, they have to obtain government approval from the Ministry of Natural Resources. Buyers will need a reputable lawyer to perform due diligence and to act on their behalf. While there are listings on the internet, not all properties for sale are advertised. It is best to spend some time on ground to see all available properties.

Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Many properties are for sale by owner, not brokers. Most expensive rentals are handled by brokers. Property Taxes Charges that come with buying property include the land title transfer fee (12% of the property price for foreigners), attorney's fee (2%) and a property tax (1% of the land's value). The Government has reduced stamp duty on existing homes from 15% to 5%, for both Belizeans and foreign nationals. For newly built homes or condos, an additional 10% GST (General Sales Tax) is owed to the government. Property Rights Property rights are protected by the English common law legal system. Taxes No income tax on income generated outside Belize No capital gains tax No inheritance tax

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers

Western Caribbean

Belize Cayman Islands

Atlantic Islands Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Cayman Islands (British West Indies)

Prime areas: Seven Mile Beach, Dragon Bay, West Bay, George Town Capital: George Town Currency: Cayman Islands Dollar (CI$) Language: English The Cayman Islands, a British Overseas Territory, is among the most prosperous countries in the Caribbean. It is well known as an offshore financial centre. There are about 600 banks and trust companies in the territory. Consisting of three islands - Grand Cayman, Cayman Brac, and Little CaymanCayman Islands has thriving tourism, and offers great diving and snorkeling. Grand Cayman, the largest island, has the highest per capita income in the Caribbean. It is very cosmopolitan. The property market in Cayman Islands is oriented towards offshore businesses and retirees. Luxury property developments abound on world-renowned Seven Mile Beach in George Town. Super exclusive residential communities can also be found at Dragon Bay. The Ritz-Carlton development on Dragon Bay has a wide range of residences priced at US$1 million and up. Buying Property There are no restrictions on foreign purchase of land. The buying process is relatively easy. A 10% deposit must be paid upon signing a contract. Property Taxes In prime locations such as George Town and West Bay, buyers are required to pay 7.5% stamp duty within 45 days of closing. In other areas, stamp duty is 4% for residents, and 6% for foreigners. Taxes No direct tax on residents No property or corporate taxes No capital gains tax No inheritance tax

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker Cayman Ritz-Carlton Penthouse. (Reduced to US$1,999,500 - MLS: #091593) A stunning 7th floor 2 bedroom, 2 bath Penthouse of 2,390 sq. ft., with a beautifully decorated interior and a commanding view of the Caribbean Sea. This property is considered the finest of all Ritz resorts and includes 2 golf

Ritz-Carlton Penthouse Cayman Islands 2,390 sq. ft. (222 sq. metre) 2 - bedroom Penthouse Price: US$1,999,500 Listed by: JC Calhoun-Broker/Owner

Beautifully decorated interior Finest of all Ritz resorts 2 golf courses View of the Caribbean Sea

courses, a Nick Bollettieri Tennis facility, Costeau Kids Camp, La Prairie Spa, 4 Gourmet Restaurants and 24/7 Concierge Service. Also excellent income potential if you wish to rent.

Coldwell Banker Cayman Islands Realty Grand Cayman, Cayman Islands (+1) 345-623-4411 jc@cireatly.ky www.caymanislandsrealty.com

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers Western Caribbean

Atlantic Islands

Bahamas Bermuda Turks and Caicos

Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Bahamas

Prime areas: Nassau (New Providence), Freeport (Grand Bahama), Abaco (Out Islands) Capital: Nassau Currency: Bahamian Dollar (B$) Language: English, Creole The Bahamas is an archipelago of 700 islands and cays, and 2,300 islets. It is Famous for its pink and white sand beaches that meet the blue waters of the Atlantic. Only about 35 islands are inhabited. The islands of New Providence, home to Nassau, and Grand Bahama, where Freeport is located, account for most of the 300,000 residents of the country. The so-called Out Islands, known as the Family Islands, are sparsely populated. The Bahamas is a former British colony, and remains a member of the British Commonwealth. The country is a stable parliamentary democracy. The legal system is based on English Common Law. The Bahamian economy relies on tourism and finance. The Bahamas is an offshore tax haven. Investments in homes, resorts and hotels are highly encouraged and supported by the government. Due to its close proximity to the US and direct flights from the UK and many other locations, the Bahamas has become popular with property investors and wealthy buyers looking for second homes. Exclusive property developments have been built not only on the larger islands, but have reached the outer islands as well. Tax incentives are granted to commercial development on 32 inhabited islands. Among the larger islands, the most developed are New Providence, Grand Bahama. The Abaco Islands are the most developed of the Out Islands. Homes worth US$1 million and up sell well in Abaco, Nassau, and Paradise Island. There are many oceanfront lands available for sale in the Bahamas. Most are much cheaper than in the US.

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers Western Caribbean

Atlantic Islands

Bahamas Bermuda Turks and Caicos

Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Bahamas (cont.) Buying Property A permit from the government is only needed if the property to be bought is more than five acres or is an undeveloped land. Otherwise, the property must only be registered with the Investment Board and the Central Bank after the transaction. Foreigners are not allowed to work in the country, but anyone who invests more than US$500,000 is eligible for economic residency. Tax incentives are given for commercial development in the inhabited islands. An attorney will be hired by the buyer to determine the validity of the title and check for encumbrances to the title. A break in the chain of title owners or missing abstracts will reduce the marketability of subject property. Title insurance is neither required nor used in the Bahamas. All non-Bahamian owners of residential property can apply for a Home Owners Resident Card. This allows the homeowner, homeowner's spouse, and minor children port entry into the Bahamas, and to stay in the country until the card expires. This costs US$500 per annum. If residing yearly in the country is an option, there is the 'Annual Residence Permit', which costs US$1,000, and US$25 for each dependent.

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers Western Caribbean

Atlantic Islands

Bahamas Bermuda Turks and Caicos

Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Bahamas (cont.) Property taxes Buyers are required to pay a small registration fee. Stamp duty rates are as follow: Properties between $0 and $20,000 - up from 2 to 4% Properties between $20,000 and $50,000 - up to 6% Properties between $50,000 and $100,000 - up to 8% Properties between $100,000 and $250,000 - up to 10% Properties higher in value - up to 12% Legal fees apply (up to 2.5%). Individual Taxes No income tax No value added tax No capital gains tax No inheritance tax Real estate taxes are around 1% annually.

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker Ocean Club Residences & Marina (US$2,650,000 - Property ID: #7537). Located within the exclusive Ocean Club Residences & Marina on Paradise Island offering 3 bedrooms and 3.5 bathrooms with spacious terraces overlooking a private marina and beautiful Nassau Harbour .

Ocean Club Residences & Marina Bahamas 3 - bedroom villa Price: US$2,650,000 Listed by: Natasha Vythoulkas Spacious terraces Overlooking Nassau Harbour Private beach club Onsite amenties (pool & gym)

This residence is furnished in a elegant colonial style with limestone and hardwood flooring. Private onsite amenities include swimming pools, marina, fitness center and concierge. Residents are afforded the luxury of membership to a private beach club, golf course, dining and spa services at One & Only Ocean Club and amenities of Atlantis resort.

Coldwell Banker Lightbourn Realty Paradise Island, Bahamas (+1) 242-393-8630 Natasha@coldwellbankerbahamas.com www.coldwellbankerbahamas.com

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker This magnificent beachfront estate (US$5,400,000 - Property ID: #1010) is located on Princess isle, a private gated beach community on Grand Bahama Island, just 90 miles from Miami. Overlooking a stretch of sandy beach alongside the turquoise Bahamian sea, this estate on lot # 22 features a 3-car garage and 100 ft dock slip on # 22R with deep water draft to accommodate a yacht and water toys.

Princess Isle Grand Bahama Island 2 - master bedrooms 3 - guest bedrooms Price: US$5,400,000 Listed by: James Sarles Gated, Peaceful & Private 100 ft dock slip to accomodate a yacht Torquoise Bahamian sea view Elegantly design Elegantly designed, this home boasts a living room with 23 foot ceilings, marble floors, formal dining room, 2 spacious master bedrooms with walk in closets and modern bathrooms, maid's quarters and 3 luxurious guest bedrooms, each with full baths. The sunlit family room with panoramic sunset and ocean views comes complete with wet bar and media center. The kitchen features handsome granite counter tops, state of the art appliances and is a gourmet cook's dream. This captivating home has been created expressly for the enjoyment of island living and entertaining in a tax-free environment.

Coldwell Banker James Sarles Realty Princess Isle, Grand Bahama Island (+1) 242-351-9081 jamessarlesrealty@gmail.com www.sarlesrealty.com

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers Western Caribbean

Atlantic Islands

Bahamas Bermuda Turks and Caicos

Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Bermuda

Prime areas: Hamilton, Southampton, Sandys, Warwick Capital: Hamilton Currency: Bermuda dollar (BD$) Language: English, Portuguese Bermuda is one of the world's leading offshore centres. Its strong financial and international business sectors remain the biggest contributors to Bermuda's GDP per capita, one of the highest in the world. Bermuda's legal system is founded on common law. The country's political stability has proved beneficial to the economy. Many newlyweds and vacationers are attracted to Bermuda's long stretches of pink sand, safe and clean environment, and plush resorts and guesthouses. The country's tourism and construction sectors were hard hit by the global financial crisis. Yet Bermuda's real estate market remains active, with house prices declining only slightly. The average price of single-family homes in Bermuda is US$1.3 million. For luxury condominiums and townhouses, the average price is US$800,000. Cottages with price tags under US$1 million are in high demand in central parishes such as Warwick. Non-Bermudians are only allowed to purchase residential properties currently owned by non-Bermudians. A house must have a minimum annual rental value (ARV) of $153,000, or an average selling price of about $2.8 million. For condominiums, the minimum ARV is $32,400. The ARV is used not only to determine which properties qualify for sale to foreigners, but also as a basis for land taxation. Non-Bermudians may not acquire undeveloped property, unless they are spouses or children of Bermuda nationals.

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers Western Caribbean

Atlantic Islands

Bahamas Bermuda Turks and Caicos

Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Bermuda (cont.) Buying Property Generally, a non-Bermudian cannot own more than one residential property. A non-Bermudian will be permitted to purchase a second property only on condition that the original property is sold within a year. Property Taxes Foreign buyers must obtain an alien license from the Ministry of Labour, Home Affairs and Public Security. The fee is 25% of the purchase price of a house, or 18% for a condominium. For fractional units, the fee is 10% on first-time sale, and 18% on the second. Stamp duty rates on land sale or property transfer are between 2.5% to 6%. Individual Taxes No income tax No capital gains tax

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker The Parapet is a distinctive historic landmark (US$8,470,000 - MLS: #5659) and represents a phenomenal opportunity for the discerning buyer who is looking to acquire a private and enchanting estate property in Bermuda.

The Parapet Bermuda 9 acres Price: US$8,470,000 Listed by: Brian E. Madeiros 18th Century estate property Private waterfront peninsula Abundance of amenties Bermudian architecture

Situated on almost 9 acres of naturally manicured grounds of unsurpassed beauty, the main house benefits from sweeping vistas of the surrounding area and the waters of the Great Sound. The sizeable parcel of land includes a private waterfront peninsula comprising two deepwater docks and a covered boathouse. An abundance of additional amenities include two detached cottages, numerous outbuildings, a tennis court, cultivated fields and fruit trees. With parts of the estate dating back to the late 18th Century The Parapet represents an enduring legacy of Bermudian architecture on a significant parcel of land which is a vanishing opportunity in the Bermuda luxury home market.

Coldwell Banker Bermuda Realty Private Estate Property (+1) 441-292-1793 bmadeiros@brcl.bm www.bermudarealty.com

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers Western Caribbean

Atlantic Islands

Bahamas Bermuda Turks and Caicos

Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Turks and Caicos

Prime areas: Providenciales, Grace Bay ('Gold Coast'), North Caicos Capital: Cockburn Town (Grand Turk) Currency: US Dollar (US$) Language: English Forty islands, eight of which are inhabited, make up Turks and Caicos. White sand beaches, secluded bays, coral reefs and a large flamingo population are all part of its attractions. Diving and snorkelling are the top activities here. Home to more than 23,000 locals, the Turks and Caicos is developing as a high-end tourist destination and attracts numerous celebrities, some of which have become home owners. This drives real estate prices up. Providenciales, or Provo, is the most developed of the Islands and has many popular resorts. Most real estate activities are concentrated here. Due to the boom in resort and residential construction, land values here have skyrocketed. Prices are still expected to rise as prime areas are becoming limited. Properties priced from US$1 million to US$3 million sell well. Upscale developments and luxury estates dominate Provo's southwest, such as Ocean Point, Sunset Bay and Harbour Gates. Affordable prices can still be found on the southeast side, far from the beach. Towards north, beachfront lands and home sites are for sale. The majority of resort hotels and condos are found on Grace Bay, also known as the 'Gold Coast'. Grace Bay has one of the most beautiful beaches in the world according to international travel magazines. Upscale beachfront condominiums are being constructed in North Caicos, which only has about 2,000 residents. There are multi-million dollar villas here. Land values in North Caicos, also called 'Garden Island', have dramatically risen over the last several years.

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers Western Caribbean

Atlantic Islands

Bahamas

Bermuda Turks and Caicos

Turks and Caicos (cont.) In Grand Turk a lot of beachfront condos are being developed, but only a few listings are available online. The exclusive Parrot Cay island resort hosts the vacation homes of stars like Bruce Willis, Christie Brinkley and Keith Richards. Here three-bedroom villas start at US$10 million. Two-bedroom beach houses sell at US$5 million.

Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

On the private residential island of Ambergris Cay in south eastern Caicos, prices of home sites range from US$650,000 to US$6.5 million.

Turks and Caicos has been under direct UK rule since August 2009, following allegations of corruption of the former government

Buying Property There are no restrictions on foreign ownership. Buyers are required to pay a 10% deposit upon signing a sales agreement. Transaction is expected to close within 30 days from date of agreement.

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers Western Caribbean

Atlantic Islands

Bahamas Bermuda Turks and Caicos

Greater Antilles Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

Turks and Caicos (cont.) Property Taxes Stamp duty rates are as follows: For Providenciales, Parrot Cay, Pine Cay, Ambergris Cay, Water Cay: Less than $25,000

no duty

$25,001 - $500,000

4% (one discounted payment of 3.6% or four payments of 1.0%)

$500,000 - $1.5 million

6% (one discounted payment of 5.4% or four Payments of 1.5%)

$1.5 million - $3 million 8% (one discounted payment of 7.2% or four payments of 2%) Over $3 million

10% (one discounted payment of 9% or four payments of 2.5%)

For Grand Turk, South Caicos, Middle Caicos, North Caicos, East Caicos, Salt Cay: Less than $25,000

no duty

$25,001 - $500,000

4% (one discounted payment of 3.6% or four payments of 1.0%)

$500,000 - $1.5 million

6% (one discounted payment of 5.4% or four Payments of 1.5%)

$1.5 million - $3 million 8% (one discounted payment of 7.2% or four payments of 2%) Over $3 million

Taxes No income tax No capital gains tax No inheritance tax

10% (one discounted payment of 9% or four payments of 2.5%)

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker Chalk Sound Waterfront Home (US$950,000 - MLS: #1013214). 4 bedroom home located on the powder blue waters of the Turks & Caicos Island's Chalk Sound. Secluded Sapodilla Beach is a short walk away and local restaurant down the road offers great food and an excellent place to enjoy a quiet drink.

Chalk Sound Waterfront Home Turks and Caicos 4 - bedroom home Price: US$950,000 Listed by: Graham Canham

Airport only 15 minutes White sand beaches Nearby restaurants

The neighbourhood is home to many attractive rental homes and the airport is close by. Famous Grace Bay Beach and Provo Golf are only a 15min drive away. Come visit us and discover why so many people are talking about the Turks & Caicos Islands.

Coldwell Banker Real Estate, Turks & Caicos Chalk Sound, Providenciales (+1) 649-231-4790 grahamcanham@coldwellbankertci.com www.coldwellbankertci.com

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers Western Caribbean Atlantic Islands

Greater Antilles Cuba Dominican Republic Haiti Jamaica Puerto Rico

Cuba

Capital: Havana Currency: Cuban Peso (CUP / CU$) Language: Spanish, Creole

Despite its communist history, Cuba is gradually opening its doors. Once known as the 'Pearl of the Antilles', the island nation of Cuba has much potential with its natural beauty, architecture, cuisine, and cultural landscapes. Earnings from tourism are being used to revitalize the capital city of Havana. Ecotourism is also being developed.

Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisonss

Many Canadian and European tourists now visit Cuba, and the island nation seems to be on the verge of opening to property investors.

GLOBAL PROPERTY GUIDE

Caribbean Map Opportunities for buyers Western Caribbean Atlantic Islands

Greater Antilles Cuba Dominican Republic Haiti Jamaica Puerto Rico Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisonss

Dominican Republic

Prime areas: Santo Domingo, Atlantic Coast Capital: Santo Domingo Currency: Dominican Peso (RD$) Language: Spanish, English The second largest Caribbean nation, the Dominican Republic shares the island of Hispaniola with Haiti, and has suffered from its proximity to that unhappy country, as well as from relatively low GDP/capita and high crime rates. Sandy beaches, offshore coral reefs, nature reserves, arts and culture, fascinating history, and champion golf courses nevertheless attract thousands of visitors. The Dominican Republic has the highest mountain (Pico Duarte) and largest lake in the Caribbean. Tourist-friendly developments are concentrated in the eastern and northern regions. The Dominican Republic has recently been dramatically placed on the international yachting circuit, and new real estate developments including luxury villas and apartments with access to golf courses and yacht marinas are springing up. Some of the most desirable residential areas in the country are in tourist hot spots such as the capital, Santo Domingo, and the areas on the country's beautiful Atlantic coast, such as the tourist towns of Sosua and Cabarete, the peninsula of Samanรก, and Puerto Plata.

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Dominican Republic (cont.) Buying Property There are no restrictions on foreigners buying property. Residents and non - residents enjoy the same rights and obligations. To purchase a property, the first thing to do is hire a reputable real estate lawyer. There is much history of fraud by real estate agents in the country, and little protection is offered to a buyer. Real estate agents tend to offer higher prices to foreigners, especially when their services are employed in English. A 10% deposit is required to reserve the property and take it off the market. Subsequently, the lawyer will conduct the process of due diligence. This involves title search, overseeing the survey, and obtaining important documents from the seller, including a photocopy of the title. When this has been done and the buyer is satisfied with the supplied information, the buyer proceeds to making payments of the remaining balance. Payments are usually made by depositing to the lawyer's escrow/trust account. When all has been cleared, the lawyer will transfer the payment to the seller's account before closing. Property Taxes Buyers are required to pay a 3% Transfer Tax and 2% Registry Tax.

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker Island Dream Home with Private Beach (US$4,800,000). Unique, 1,000 sq. meter seafront villa located in Rio San Juan, only 7-minutes away from Playa Grande Golf Course, rated 4th most beautiful course in the world. And only a 45-minute drive from the Puerto Plata International Airport and 2 hours from the Santo Domingo Airport

Rio San Juan Dominican Republic 10,764 sq. ft. (1,000 sq. metre) 6 - bedroom Villa Price: US$4,800,000 Listed by: Olivier Lemoine Sea-side pool Magnificent Caribean Sea view White sand beach 5 different terraces

This fully furnished, luxurious 6-bedroom, 7-bath villa is situated directly on a rocky shore in front of the beautiful Caribbean Sea and has a large, white sand beach directly beside it. The large master bedroom suite opens through French doors to a sun deck and sea-side pool. The villaâ&#x201A;Źs five different terraces take full advantage of the magnificent sea views and offer visitors quiet retreats to enjoy some solitude.

Coldwell Banker Rio San Juan Rio San Juan, Dominican Republic (+1) 829-763-3915 olivier@cbriosanjuan.com www.cbriosanjuan.com/listing-villa-%27le-cap%27-2.html

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker Las Terrenas, Dominican Rep. Villa Loma Bonita (US$3,350,000 - MLS: #443) is a sprawling Mexican Contemporary home designed by renowned French architect Jacques Brown. The architecture of the home is of a minimalist concept with very clean lines while featuring the merger of the interior and exterior space.

Villa Loma Bonita Dominican Republic 10,000 sq. ft. (929 sq. metre) 8 - bedroom Villa Price: US$3,350,000 Listed by: Mathias Jambor Minimalist concept Entertainment (gym, pool table) private gated community Infinite pool with bar Concrete construction makes up the bulk of the living space while being softened by contrasting organic materials for wood doors and windows along with 3 central palapa roof features. The curved infinity pool features a swim up bar with built in under-water concrete bar stools and is covered by a freestanding palapa covering the outside entertainment bar making this a perfect exterior lounging area. Additional interior enjoyment is provided for downstairs and incorporates a gym, massage room, pool table, ping pong and TV lounge area with a meeting table facility. Villa Loma Bonita, located within the private gated community of Loma Bonita, comfortably sleeps 18 people with a total of 8 bedrooms and 7 Â˝ bathrooms.

Coldwell Banker Coast to Coast Real Estate Las Terrenas, Dominican Republic (+1) 809-240-5656 jambor.mathias@gmail.com www.cblasterrenas.com

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker Luxurious oceanfront villa in Cabarete, Domincan Rep. (Price: $3,450,000 Property ID: #277-TW). Relax in private, tranquil surroundings, hear the ocean sound, feel the luxuriant trade wind breezes, awaken to birds songs and fragrant flowers. This is a 7,200 square foot villa, magnificently set directly on the ocean in an exclusive gated resort community close to Cabarete which offers a tennis club, horseback riding, a beach club and small private beaches on its premises.

Cabarete Dominican Republic 7,200 sq. ft. (669 sq. metre) 4 - bedroom Villa Price: US$,34500,000 Listed by: Tony Willies

Exclusive gated resort Open air atrium White sand beaches Recreational activites Four spacious bedrooms with gracefully curved walls, three with king beds and one with a queen bed. Each bedroom has a bathroom en-suite. All have original contemporary artwork, decorator wall sconces and hand crafted mahogany art deco furnishings. Enter into a semicircular great room with curved ceiling to floor windows showing spectacular ocean views, soaring 20 foot columns and an open air atrium at its center. Start to unwind amongst a collection of original artworks, pleasing to the eye, and custom made designer furniture. A dining room and fully-appointed open kitchen surround the great room. The media/entertainment room is equipped with a large screen flat panel satellite TV, DVD

Coldwell Banker Amber Coast Realty Cabarete, Dominican Republic (+1) 809-571-3131 tony@ambercoastrealty.com www.ambercoastrealty.com

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Haiti Capital: Port-au-Prince Currency: Haitian Gourde (HTG) Language: Haitian Creole, French Haiti occupies a part of Hispaniola, which it shares with the Dominican Republic. Haiti is one of the poorest and least developed countries in the world. It has a long history of political instability and corruption, environmental problems, health crises, and natural disasters. Just when Haiti was being poised for tourism growth, a devastating 7.0 earthquake struck the country in January 12, 2010, destroying much of the capital Port-au-Prince. The death toll was an alarming 316,000. Plans to reconstruct Haiti's economy are underway, but at the moment the country relies on humanitarian relief.

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Jamaica

Prime areas: Montego Bay, Negril Capital: Kingston Currency: Jamaican dollar (JMD) Language: English Jamaica, the third largest Caribbean island, is a favourite honeymoon and cruise destination. Its beauty lies in its mountains, thick jungle, 150 rivers, cascading waterfalls, and white sand beaches on the north coast, where most cruise ships dock. Jamaica is the largest English-speaking Island and one of the most densely populated nations in the Caribbean. Property buyers may choose the stunning beach at Montego Bay, or the Seven Mile white beach at Negril. Buying Property There are no restrictions on foreign ownership of property. The buyer is required to pay a deposit of at least 10% once an Agreement for Sale has been drawn up. Property Taxes Buyers are normally required to pay legal fees up to 4%, stamp duty of 2.75% and a registration fee. Income Tax The income tax rate for non-residents is 25%. Property taxes paid, maintenance costs, interest payments, and depreciation are deductible from the taxable income.

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker Golfer's Paradise. (Price: US$2,950,000 - Property ID: #9445) One of The Tryall Club's premium villas, superbly designed and finished with elegant interiors. All five bedrooms with en-suite bathrooms have been positioned to maximize the views of the gardens, pool terrace and the sea beyond.

Golfer's Pradaise Jamaica 7,300 sq. ft. (678 sq. metre) 5 - bedroom villa Price: US$2,950,00 Listed by: Nicola Delapenha Full length spacious patio Beautifully landscaped terrace Elegant interiorss Views of the gardens, pool terrace & the sea

In addition to the spacious patio that extends the full length of this villa, each room opens in the rear onto a beautifully landscaped terrace with additional seating - perfect for quiet times, reading and reflection. The architectural features are completed by the use of antique brick, porcelain floors and mahogany hardwood floors and beams. Split system air-conditioning in all bedrooms with state of the art electronics add to the extreme comfort of this spectacular 7,300 sq. ft. villa. Enjoy the views from the spacious terraces, large pool or a panoramic vista from the upstairs patio. Ideally situated on two acres of lush landscape, the villa offers complete privacy and serenity and two golf carts make access to all the club's facilities easy.

Coldwell Banker Jamaica Realty Hanover, Jamaica (+1) 876-445-1900 ndelapenha@cbjamaica.com www.cbjamaica.com

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Puerto Rico

Prime areas: Rio Mar, Bahia Beach, San Juan Capital: San Juan Currency: US Dollar (US$) Language: Spanish, English The Commonwealth of Puerto Rico is a self-governing, unincorporated territory of the United States. This means that Americans don't need a passport to go there, and it has long been one of their favoured holiday destinations, from cash-strapped college students to luxury travellers. The government plans to expand resort tourism as Cuba may pose a challenge once it opens to the US market. Puerto Rico's beauty lies in diversity - beaches, rivers, hills and mountains. Its rainforests are home to many exotic animals and endangered species. The culture is a mix of Caribbean, Latin and American influences. The country is one of the most densely populated islands in the world, with almost four million inhabitants. Its economy is fuelled by the manufacturing sector. There are numerous properties for rent and sale in the island - houses, villas, condos, and apartments. Houses priced at US$600,000 and up are considered luxury properties. There is an ongoing political debate as to whether Puerto Rico should obtain full independence, or remain a Commonwealth of the US. Buying Property Foreigners can freely buy property in Puerto Rico. To enter into a real estate transaction, it is important to hire a real estate agent as knowledge in Spanish is very much needed. When an agreement has been reached, a deposit of 5% of the purchase price is usually paid by the buyer. The deposit is non-refundable if the buyer decides to back out of the transaction. In case the seller backs out, the seller will pay the buyer twice the amount of the deposit or earnest money provided.

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Puerto Rico (cont.) Buying Property The seller usually pays for the notary's fees, and real estate broker's commission (unregulated). The buyer, aside from the down payment, also pays for title in surance and documentary stamps on the deed. Additional costs may include appraisal and inspection fees. Property taxes, on the other hand, are prorated. Since property taxes are usually paid at the end of the year, the buyer and the seller share the expense according to the number of months each owns the house during the year of the transaction. All real estate titles are recorded in the Registry of Property. The titles are further categorized into subsections according to the territory where the property is located. It is important to file the title of the property under the correct section to prevent any objections from the Registry officials, who check the title's legality and requirements.

Lesser Antilles - Leeward Islands Lesser Antilles - Windward Islands Regional Comparisons

A foreigner can also take the corporate route to acquiring property in Puerto Rico. Costs for registering a property obtained through a corporation include US$300 for Corporate Resolution. This is prepared by a notary to authorize the representatives of the buying corporation to appear in the deed of purchase and sale. There also are additional costs for Internal Revenue Stamps. The whole process of registering a property by a corporation can be completed in around 15 days. Property Taxes The seller is responsible for the notary fees (2%) whilst the buyer is responsible for the Registration fees (0.5%) and legal fees (1%). Capital Gains Capital gains are taxed at a flat rate of 29%.

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Lesser Antilles Leeward Islands Aruba Former Netherlands Antilles Anguilla Antigua and Barbuda British Virgin Islands Dominica Guadeloupe Montserrat Saint Kitts and Nevis Saint Martin U.S. Virgin Islands Constituent countries of the Kingdom of the Netherlands Autonomous special municipalities of the Netherlands Lesser Antilles - Windward Islands Regional Comparisons

Aruba

Capital: Oranjestad Currency: Aruba Florin (AWG) Language: Dutch, English, Spanish

Aruba is unique in the Caribbean for its rugged landscape dominated by cactuses and divi-divi trees. The island also has many white sandy beaches, which attract many tourists. But while there are many new developments, the real estate market has been sluggish. One advantage of Aruba is that it lies outside the Hurricane Belt. Buying Property: No license is required to buy property. Property Taxes Buyers must pay a 3% transfer tax and 1% notary costs.

Former Netherlands Antilles

The Netherlands Antilles was dissolved in October 10, 2010. Like Aruba, Curacao and Sint Maarten are now constituent countries of the Kingdom of Netherlands. The Netherlands Antillean guilder will be replaced by the Caribbean guilder, a new currency, in 2012. For the time being, the US dollar is used.

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker Aruba Oceanfront Villa (US$1,645,000 - Property ID: #405) Great and Unique Opportunty!. This exceptional villa is located in Malmok, Aruba and gives you unmatched luxury. The spacious luxury European kitchen is cozy; the dining and & living room have a STUNNING view over the Ocean. The open, spacious layout trulty commemorates the Caribbean lifestyle. The villa is fully air-conditioned.

Aruba Ocean Front Villa Aruba 13,218 sq. ft (1228 sq. metre) 3 - bedroom villa Price: US$1,645,000 Listed by: Jan Welage Most upscale residential area Palm tree surrounded pool Spectacular sea views 18 hole Tierra del Sol Golf Course

The 3 spacious bedrooms have a beautiful interior and feature an ensuite European bath and ample closet space. The spacious master bedroom features a walkout to the ocean front terrace to enjoy the sunrise. The swimming pool is surrounded by a Tropical garden including Palm Trees and exotic flowers. Next to the house is a wonderful guest apartment with a kitchen, living room, master bedroom and bathroom. Plus maidsquarter with bathroom and a separate laundry room. The plot has 13218 sq ft (1228 m2) and the built area is 4908 sq ft (456 m2). Own a villa at the most upscale residential area of Aruba, just a minute drive from the 18 hole Tierra del Sol Golf Course, Unique ocean living!

Coldwell Banker Aruba Realty Malmok, Aruba (+1) 297-588-7781 info@coldwellbanker.aw www.coldwellbanker.aw

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Anguilla (British West Indies)

Capital: The Valley Currency: Eastern Caribbean Dollar (ECD) Language: English

Anguilla is a British Overseas Territory. It is one of the most chic destinations in the Caribbean, attracting the rich and the famous, including A-list celebrities. Most visitors come from Europe and North America. Anguilla's range of attractions includes 33 exceptionally beautiful sandy beaches, coral reefs and small islands and cays. Development of high-end tourism began in the 1980s. Yet despite this, Anguilla has successfully avoided overdevelopment. The small island remains relatively uncrowded. Tourism and financial services are the main revenue sources for Anguilla. The tourist industry is geared at the luxury market, and has world-class infrastructure and facilities, making it a great investment choice. The property market is dominated by multimillion dollar properties, luxurious villas and vacation homes. Villas usually sell for US$3 million to US$4 million. Smaller homes sell from US$700,000. Most real estate buyers in Anguilla are Americans and Europeans.

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Anguilla (cont.) Buying Property Foreign buyers are required to obtain an Alien Landholders License from the government. It is a straightforward process and involves an application, a personal reference, and a bank reference. The application fee is $400. Since the country is so small, the government restricts foreign land ownership. Foreign buyers of undeveloped land are restricted to parcels no bigger than half an acre, and to rocky coastlines. Construction must be completed within 18 months from the date the license is issued, or penalties are charged or the land forfeited. Sandy beachfronts are reserved for tourism and commercial purposes. Buyers are also required to start construction within 18 months of the closing date. Property taxes Foreign buyers are required to pay a 12.5% percent stamp duty, and 5% transfer tax.

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Antigua & Barbuda

Prime areas: Jolly Harbour, Jumby Bay, NonSuch Bay Capital: St John's (Antigua) Codrington (Barbuda) Currency: Eastern Caribbean Dollar (ECD) Language: English Antigua and Barbuda is known as a luxury holiday and wedding destination. It boasts 365 beaches. The world-class regatta, Antigua sailing week, is also a major tourist draw. The twin nation is now being promoted as a family oriented vacation spot. The twin nation has a stable political system. Antigua has attracted celebrities like Oprah Winfrey, Giorgio Armani, Richard Branson and Eric Clapton.

Oprah Winfreys' Antigua beach house

Attractive exclusive developments on the islands include Jolly Harbour, Jumby Bay, and NonSuch Bay.

On NonSuch Bay, three-bedroom beachfront apartments cost US$475,000 to US$995,000 and exclusive townhouses go from US$950,000 to US$1,150,000. Buying Property Upon paying a deposit, foreign nationals are required to apply for an Alien Landholders License, which costs 5% of the property's value and is specific to the property. It usually takes up to four months to be approved. As the country is small and mountainous, development is restricted and there is limited number of properties available for purchase. Most properties are freehold. Land can be bought or leased from the government, which owns 55% of land in Antigua, or the private market. Land ownership in Barbuda is prohibited.

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Antigua and Barbuda (cont.) Property Taxes Buyers are required to pay 2.5% stamp duty, and legal fees. Individual taxation Income of non-residents is taxed at a flat rate of 25%. There is no capital gains tax.

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British Virgin Islands (British West Indies) Prime areas: Tortola, Virgin Gorda

Capital: Road Town (Tortola) Currency: US Dollar (US$) Language: English The British Virgin Islands is made up of over 50 islands and cays with lush mountains, white sand beaches, blue waters and coral reefs. Its main islands are Tortola, Virgin Gorda, Jost Van Dyke and Anegada. BVI is a British Overseas Territory. It is one of Caribbean's more prosperous economies, supported by offshore corporations attracted by the territory's low tax regime. The BVI has done well in protecting and preserving the natural beauty of the islands. Developments in the islands are minimal. There are still many un spoiled beaches. The islands are renowned for luxury pastimes including diving, sailing and yachting. Tortola is the largest and the most populated island in the BVI. The island is known for its pristine white sand beaches, aquamarine waters and yacht charters. Virgin Gorda is secluded and peaceful, making it the choice of the wealthy who want ultimate privacy. Prices for luxury villas typically range from US$1.2 million to US$3.5 million. Properties priced over US$10 million are also available. The new development Oil Nut Bay offers homes for sale from US$2 million up to US$25 million. There is also a new development in Anegada. Most rental villas can be found in Tortola. Rents for three-bedroom villas are from US$3,000 to US$4,000 per month. For four- to five-bedroom luxury villas, rent is from US$5,000 to US$6,000 per month. The average rent for a one-bedroom apartment is US$1,500 per month, and a two-bedroom apartment rents for around US$2,000 per month.

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British Virgin Islands (cont.) Buying Property Non-residents require a Non-Belonger Land Holding License (NBLHL) which costs US$800 and takes 1-2 years to obtain. 99% of license applications are accepted. Values in the islands held strong in the face of the global recession. Property prices have continued to grow steadily. Property taxes Buyers are required to pay stamp duty of 12% of the property value upon transfer of title. An annual Land Tax of $50 must also be paid for any land under a half of an acre, and $150 for any land over half an acre, plus $50 for each additional acre House Tax is 1.5% per annum of the assessed rental value. Individual Taxes No income tax No capital gains tax No inheritance tax

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker Waterfront townhouses with docks at Nanny Cay Marina BVI. (US$850,000 MLS: # CS339). Nanny Cay Village is Tortola's flagship marina located within a natural basin on the south side of Tortola in the British Virgin Islands. A thriving and bustling apartments, tennis courts, a large swimming pool, restaurants and a spa. And the list is growing...

Waterfront townhouses with docks at Nanny Cay Marina 32 waterfornt townhomes 2 and 3 bedrooms available Price: starting at US$850,000 Listed by: Chris Smith Marina with berths for 180 yachts Full access to hotel facilities Oceanfront pool and beach Restaurants and Supermarkets Thirty-two luxury waterfront townhouses are now being built on a private waterway with access to Sir Francis Drake Channel. These two and three-bedroom townhouses blend classic Caribbean architecture with the latest in European design concepts and standards. Luxury Living This exciting new townhouse development offers a combination of contemporary living with modern design. Each townhouse incorporates a stylish interior, together with sleek and modern appliances. The townhouses are set over 2 and 3 levels* providing an elegant and spacious home. In addition, each townhouse will include a private decking area, air conditioning and a designated mooring space for each owners boat (up to 24', space guaranteed for larger boats in the marina) You can be assured the townhouses will offer fresh and exciting designs, within a beautifully landscaped setting. A dock in the marina for larger boats is guaranteed. Entirely optional competitive rental program available.

Coldwell Banker BVI Real Estate Road Town Tortola, British Virgin Islands (+1) 284 495 3000 chris@coldwellbankerbvi.com www.coldwellbankerbvi.com

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Dominica

Capital: Rouseau Currency: Eastern Caribbean Dollar (ECD) Language: English, French Creole

Lesser Antilles Leeward Islands

Dominica is home to 365 waterfalls, and lush rainforests and black sand beaches. It has the world's second largest boiling lake.

Aruba Former Netherlands Antilles Anguilla Antigua and Barbuda British Virgin Islands Dominica Guadeloupe Montserrat Saint Kitts and Nevis Saint Martin U.S. Virgin Islands Constituent countries of the Kingdom of the Netherlands Autonomous special municipalities of the Netherlands

Dominica's property market is less developed compared to other Caribbean islands and developments are small-scale.

Lesser Antilles - Windward Islands Regional Comparisons

The government encourages property investments in the island. Through the Economic Citizenship Programme, buyers investing US$100,000 in approved property developments can obtain Economic Citizenship, with all its tax benefits. There is no need to renounce existing citizenship or become a resident in Dominica. Buying Property Foreign buyers don't need a license to purchase up to 1 acre of land for residential purposes or up to 3 acres of land for com mercial purposes. Those acquiring more require an Alien Land Holding License, which costs 10% of the value of the land.

Property Taxes Buyers are required to pay 4% stamp duty, 2.5% judicial fees, 1% assurance fund and 3% legal fees.

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Guadeloupe Guadeloupe is an 'overseas departments of France. It is an archipelago consisting of two main islands; the flat and dry eastern island of Grande-Terre, and the mountainous and humid western island of Basse-Terre, which is dominated by the La Soufriere Volcano. Guadeloupe has many sandy beaches, which are great for bathing - the biggest draw for tourists, which mostly come from metropolitan France. There are large upscale beachfront properties, but not as sophisticated as those in Martinique, another French overseas department. The island's economy is still largely dependent on France, exporting much of its agricultural produce to the mother country, and importing machinery. French taxes apply and French citizenship rights are given in Guadeloupe. Buying Property There are no restrictions on foreign ownership of properties in Guadeloupe. Upon agreeing the price, both parties will be required to sign a preliminary agreement. This usually takes the form (in the North) of an option (promesse unilatĂŠrale de vente), with a 5% to 10% penalty if the option is not exercised, usually secured by a deposit held by the notaire. There is a 7-day cooling-off period, within which the buyer can change his mind.

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Guadeloupe (cont.) Property Taxes There are two types of property taxes in Guadeloupe, as in France: the taxe d'habitation and the taxe foncière. Whoever resides in a building is obliged to pay the tax d'habitation. Rental leases provide that the tenant will reimburse the landlord for the taxe foncière, which is otherwise payable by the owner of the property. The tax foncière is a combination of a tax for the building (taxe foncière bâtie) and for the land (taxe foncière non bâtie). Rental Income Tax Net income received by a non-resident is subject to a minimum income tax rate of 20%, unless the taxpayer can prove that, if he had been resident in France, his effective rates of taxation (on his worldwide income) would have been lower than 20% (which is unlikely). This rate applies to both furnished and unfurnished rentals. Capital Gains Tax EU residents and residents of France pay 16% on the net gain, after deduction of acquisition (7.5%) and improvement costs (15%). For both residents and non-residents, discounts of 10% a year are allowed after the fifth year of ownership. After 15 years no gain is chargeable to tax. Owners who are not residents of an EU country pay CGT at a rate of 33.3%, subject to any applicable double tax treaty. There is no allowance for the first 5 years of ownership, but every year, from then on, there is 10% off the capital gain. Property owned for more than 15 years is free of CGT.

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Montserrat

Capital: Plymouth / Brades Currency: East Caribbean Dollar (ECD) Language: English

Lesser Antilles Leeward Islands

Montserrat is a British Overseas Territory. The eruption of SoufriĂ¨re Hill Volcano in 2003 devastated most of the island.

The real estate market is almost non-existent as most of the island is un inhabitable due to continuous volcanic activity. There are a few buildings available for short- or long-term rent. Brades is the temporary capital, while a new town is being built at Little Bay in the north of the island.

Lesser Antilles - Windward Islands Regional Comparisons

Buying Property An Alien Landholding License must be secured from government authorities. A sales contract is always conditional upon the application and approval of this License. Approval can take between four to eight weeks. Upon signature of contract, 10% of the agreed price as down payment must be paid. The balance of the purchase price is payable usually within 30 days upon approval of the License. The seller then signs a memorandum of transfer in your favor. Your lawyer, in turn, will have the title transferred to your name. Individual Taxes

Income Tax Non-residents earning rental income in Montserrat are taxed at a flat rate of 10%. There is no capital gains tax. Property Tax Property taxes are levied on the annual market value of the land as determined by the valuation officer (tax authorities). For residential properties, these taxes are levied at 1.65% land tax on the market value of land, and 0.3% house tax on the market value of the building structure.

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Saint Kitts and Nevis

Capital: Basseterre (St Kitts), Charlestown (Nevis) Currency: Eastern Caribbean Dollar (ECD) Language: English

Greater Antilles

Lesser Antilles Leeward Islands Aruba Former Netherlands Antilles Anguilla Antigua and Barbuda British Virgin Islands Dominica Guadeloupe Montserrat Saint Kitts and Nevis Saint Martin

St Kitts and Nevis combines old world charm with natural unspoilt beauty. The islands' beaches are largely unspoilt. Mountains, rivers and rainforests fill St Kitts, interiors. The islands also boast a vibrant culture. The islands are politically and economically stable. Many buyers are encouraged by the Economic Citizenship Programme. This programme allows foreign nationals to become citizens for an investment of US$400,000 (of which US$350,000 is to be invested in government approved real estate and the remainder a non-refundable payment to the government). Prices here have been steadily rising, but the islands are still one of the most affordable to invest in the Caribbean.

U.S. Virgin Islands Constituent countries of the Kingdom of the Netherlands Autonomous special municipalities of the Netherlands

Buying Property Foreigners interested in buying property here must obtain an Alien Landholders License. This is property-specific and non-transferable. The cost of license is 10% of the purchase price of the property.

Lesser Antilles - Windward Islands Regional Comparisons

Property taxes Required to cover 2% legal fees. Taxes No tax on foreign income No capital gains tax No inheritance tax

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker Nevis Mountain Retreat (US$2,200,000 - MLS: #129). Magnificant, luxury villa situated in the old Zetland's Plantation on 1.4 acres. At 1,000 feet above sea level, this villa has the most splendid 360 degree views of the Caribbean Sea and Mount Nevis.

Nevis Mountain Retreat Nevis 2 - master suites Price: US$2,200,000 Listed by: Rosalind Borg 1.4 acres spread over 10,000 sq. ft. 1 bedroom and office 5 bathrooms

With over 10,000 sq. ft. of indoor and outdoor living space, this villa is designed for the utmost privacy. There are two separate master suites overlooking the circular pool and gazebo, both with lavish marble baths, dressing room and spacious closets. The pool, with a cold water spa, has an outdoor bathroom, kitchen and bar that opens onto the terrace for casual outdoor dining in the covered pavilion. From the pool area up a large circular stairway there is a third separate bedroom with marble bath and sitting room/office. This home is luxuriously appointed with a combination of West Indian and Plantation-style mahogany/cane furniture. Gourmet kitchen and an open, spacious living/dining area with French doors opening on three sides to the sea views.

Coldwell Banker St. Kitts-Nevis Realty Nevis (+1) 869-469-9403 info@coldwellbankernevis.com www.coldwellbankernevis.com

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Saint Martin (French West Indies) Capital: Marigot Currency: Euro (EU) Language: French, English

Lesser Antilles Leeward Islands

St Martin, an overseas collectivity of France, shares the small island of Saint Martin with the Dutch Sint Maarten, now an independent country.

The sophisticated St Martin is renowned for its nude beaches, first-class resorts, luxury properties, shopping, and restaurants. The island is served by large jets carrying tourists on a daily basis. About a million tourists visit the island annually.

Lesser Antilles - Windward Islands Regional Comparisons

Buying Property There are no restrictions on foreign ownership of properties in St Martin. A 10% deposit is paid into an escrow account. A notary will take care of legal matters. The notary handles the real estate transaction and ensures the title transfer; the buyer does not need to retain the services of an attorney. Property Taxes There is a 7.5% transfer tax and registration tax, plus an annual property tax and an annual living tax.

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U.S. Virgin Islands

Prime areas: St Thomas, St John, St Croix Capital: Charlotte Amalie (St Thomas) Currency: US dollar (US$) Language: English, Spanish, French, Creole The US Virgin Islands consist of the four main islands of St Thomas, St John, St Croix and Water Island, with many smaller islands. The islands were purchased in 1917 by the USA from Denmark. St Thomas is mostly mountainous. Luxury gated communities have been going up here. It has the most visited port in the Caribbean, attracting nearly 2 million tourists. St. John is the wealthiest and most expensive of the US Virgin Islands. Real estate developments are restricted. Thus much of its natural beauty has been preserved. St John is home to a National Park which has some of the best beaches and coral reefs in the world. Some condominium developments on St. John offer full ownership while others operate as timeshares or run on fractional ownership. Most of these residential projects are located in Cruz Bay. In Ditleff Point on St. John's South Shore, prices ranging from US$895,000 to US$2.4 million. St Croix is the largest island in the US Virgin Islands, and has white-sand beaches. Three new resort-casinos are being developed here. There is limited supply of long-term private rental properties in US Virgin Islands. Most are located in St Thomas and St Croix, but St John has the most expensive rentals. One-bedroom apartments rent for about US$1,000 to US$1,800 per month. In the upper-end market, three to four-bedroom beach houses cost from US$3,500 to US$7,000 per month.

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US. Virgin Islands (cont.) Buying Property There are no restrictions on foreign property ownership in the USVI. When the property has been decided on and negotiated, hire a lawyer to graft the purchase contract. This states the price, deposit, and terms of transaction. Upon signing, an earnest money deposit of US$1,000 is paid, which is then raised to 10% - 25% of the property value within ten days. The rest of the process will be handled by the lawyer. A title search is recommended. It is also an option to hire a professional inspector to check if the property is in good condition. Closing usually involves meeting with the seller when the final payment is made and the deed transferred to your name. Deeds are recorded and filed at the Recorder of Deeds. Ownership of property in the US Virgin Islands has the same guarantees and constitutional protections as any other state within the United States. Ownership of property in the US Virgin Islands has the same guarantees and protections as in any state within the United States. Property Taxes Buyers are required to pay a small recording fee plus legal fees (2%). Capital gains tax Capital gains on real property held for more than one year are generally taxed at a maximum rate of 15%. Capital gains received by taxpayers within the 10% and 15% tax brackets are taxed at a flat rate of 10% as of 01 January 2011. For all other taxpayers, capital gains are taxed at a flat rate of 20%.

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker Water Point - Best priced villa in the best community on St Thomas! (US$1,950,000 - MLS: #11-207). Beautiful 2-bedroom, 2-bath villa with 2-bedroom, 2-bath apartment below.

Water Point Saint Thomas 2 - bedroom villa 2 - bedroom apartment Price: US$1,950,000 Listed by: Jeyan Stout Gated community Spacious pool area Spectacular Caribbean Sea view Lush surroundings

Amazing pool and pool deck with covered terrace situated to maximize the gorgeous views of the Caribbean Sea and the islands beyond. Open concept dining, great room and modern kitchen. Great entertaining areas for small & large parties! Must be Seen. Also additional space where you can enlarge your living area or office space. Entrance to Water Point Gated Community next to the famous Ritz Carlton Resort.

Coldwell Banker Stout Realty Estate Nazareth, St. Thomas, USVI (+1) 340-776-7653 Jeyan@ColdwellBankerSTT.com www.ColdwellBankerSTT.com

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker

Solitude Beach. (US$2,795,018 - MLS: #11-442) Situated on over one acre of

coconut palms and on a rare private white sand beach the main house benefits from sweeping vistas of turquoise Solitude Bay and pristine Buck Island.

Solitude Shores St. Croix 4 - bedroom villa Price: US$2,795,018 Listed by: Amy Land-de Wilde

1 bedroom guest house Sandy private beach 20 x 12' seaside pool Concrete beach bar pavilion

The open floor plan is accentuated by a covered gallery running the length of the house affording delightful shaded, and breezy relaxation areas. The abundance of amenities include a solid concrete pavilion located on the beach that is perfect for tropical parties. Fully air conditioned and gated including the care takers cottage Solitude Shores offers ideal island living under the American flag in St. Croix, US Virgin Islands.

Coldwell Banker Land-de Wilde Realty St. Croix, U.S. Virgin Islands (+1) 340-718-7000 amydewilde@att.net www.coldwellbankervi.com

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Caribbean Map Opportunities for buyers Western Caribbean Atlantic Islands Greater Antilles

Lesser Antilles Leeward Islands Constituent countries of the Kingdom of the Netherlands

Curacao Sint Maarten Autonomous special municipalities of the Netherlands Lesser Antilles - Windward Islands Regional Comparisons

Curacao

Prime areas: Blauwbaai/Blue Bay, Willemstad Capital: Oranjestad Currency: US dollar (US$) - Caribbean guilder by 2012 (CMg) Language: Papiamentu, Dutch, English, Spanish Curacao, the most populous island among the former Netherlands Antilles group, is renowned for its distinctive culture, lively casinos, and duty-free shopping. Curacao has one of the highest standards of living in the Caribbean. The island owes its considerable income to tourism, oil refining, financial services, shipping and international trade. Architecturally, Curacao is an important island as many of its historic Dutch buildings have been preserved, and converted into hotels, shops and restaurants. The island's most popular beaches, including Blauwbaii (Blue Bay), are on the southern coast. There are several upscale resorts and residential developments that offer luxury villas and apartments.

Buying Property in Curasao, Bonaire, Saba and Sint Eustatius There are no restrictions on foreigners buying property in the Dutch islands, of Curasao, Bonaire, Saba and Sint Eustatius. An alien's license is not required. Foreign buyers need to pay a deposit of 10% of the purchase price within three to five days upon price agreement. In Bonaire and Curacao, the deposit must be paid within seven days.

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Lesser Antilles Leeward Islands Constituent countries of the Kingdom of the Netherlands

Curacao Sint Maarten Autonomous special municipalities of the Netherlands Lesser Antilles - Windward Islands Regional Comparisons

Curacao (cont.) Buying Property in Curasao, Bonaire, Saba and Sint Eustatius In purchasing property it is best to appoint a real estate agent, but there is no need to hire a lawyer. The notaris in the Island will take care of due diligence and all legal matters, and are mandated by law to serve both parties. The procedure for registering property takes up to 32 days. Property Taxes Buyers must pay a transfer tax of 3% and notary fees of 1%. Bonaire and Curacao charge 0.3% ground tax. In addition to that, a 15% municipal surcharge is levied on the amount payable in Curacao. There are no property taxes in Sint Maarten, Saba, and Sint Eustatius.

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker This home (US$3,500,000 - Property ID: #356) is located in the Santa Barbara Plantation Resort in Curacao island. This resort is destined to become the finest year-round resort community in the Caribbean. Residents and guests will enjoy wind surfing, scuba diving, snorkeling, sailing, biking and jogging. There is a challenging Pete Dye Golf Course and the beautiful new Hyatt Regency Curacao Golf Resort, Spa and Marina with an array of attractive residences designed for vacationing or year-round living all on the same plantation.

Santa Barbara Plantation Resort Curacao Price: US$3,500,000 Listed by: Soraida Knoop 1,500 acres of hillside, beaches and bay front Beautiful tropical landscape Numerous watersports to enjoy Challenging Pete Dye Golf Course Immediately upon entering what strikes you is the pool area, complete with waterfalls and spacious pooldeck. This home consists of a very roomy covered porch, living, dining, a large master bedroom with en-suite large bathroom and walk-in closet. Open kitchen has granite counter -tops and a separate pantry. This floor also has a guest powder room. By means of an elevator or stairs the lower level/basement can be reached. Here you will find 4 more bedrooms that are currently being used as a TV room, an office space, a gym and a guest bed room with bathroom. The home has a covered garage for 2 cars. This home has a back up generator and beautifull tropical landscaping.

Coldwell Banker Curacao Real Estate Curacao, Dutch Caribbean (+1) 5999-461-6558 info@coldwellbankercur.com www.coldwellbankercur.com

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Lesser Antilles Leeward Islands Constituent countries of the Kingdom of the Netherlands

Curacao Sint Maarten Autonomous special municipalities of the Netherlands

Sint Maarten

Prime areas: Philipsburg, Cupecoy Bay, Pelican Key, Cole Bay/Cay Capital: Philipsburg Currency: US dollar (US$) - Caribbean guilder by 2012 (CMg) Language: Dutch, English Sint Maarten, once an island territory of the Netherlands Antilles, is now a constituent country of the Netherlands. It covers the southern half of Saint Martin Island. Sint Maarten has a thriving and very lively tourism industry, thanks to its s cenic beaches and a few historic sites. This southern part of the small island of Saint Martin, which it shares with the French St Martin, is also renowned for its cruise ports, nightlife, casinos, and rum-based exotic drinks.

Lesser Antilles - Windward Islands Regional Comparisons

Real estate developments are scattered around the island. Cole Bay and Cay Bay offer condominiums, vacation homes and bay-front villas which are near snorkelling spots. High-rise condominiums tower on Cupecoy Bay, which has a beautiful white sand beach and cliffs. Pelican Key is an upscale residential area consisting of luxury condominiums, timeshare complexes, elegant resorts, and villas. It is one of the most developed residential and resort locations on Sint Maarten. The starting price of villa properties for sale here is US$350,000. Buying Property There are few restrictions on buying property in Sint Maarten. It has no annual property tax and no personal capital gains tax. The civil law notary handles the real estate transaction; since the notary is also an attorney, it is not necessary for the buyer to retain one.

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Lesser Antilles Leeward Islands Constituent countries of the Kingdom of the Netherlands Autonomous special municipalities of the Netherlands Bonaire Saba Sint Eustatius Lesser Antilles - Windward Islands Regional Comparisons

Bonaire

Prime areas: Kralendijk, Belnem, Punt Vierkant, Sabadeco Capital: Kralendijk Currency: US Dollar (US$) as of January 1st, 2011 Language: Papiamentu, Dutch, English Most visitors come for Bonaire's spectacular dive sites. Like Curacao, Bonaire is arid - half is hilly, and the other is flat, where the beaches, bays and reefs are found. There is not much development in Bonaire and it remains mostly unspoiled and quiet. The is land is very open to tourism but residents fight for the protection of the natural environment. Properties in Bonaire range from oceanfront villas and beach apartments in Kralendijk, to upscale townhouses in Sabadeco. There are many small-scale residential developments around the island. Like Aruba and Curacao, Bonaire lies outside the Hurricane belt. Buying Property Foreigners are welcome to purchase property, though if they plan on living there year round they should apply for residency. Upmarket areas in Bonaire include Belnem and Punt Vierkant. When the buyer makes a preliminary purchase agreement on a home, he places 10% to 15% of the purchase price in escrow with a notary within seven days of signing the agreement. The deed is notarized and the property will be registered. The notary will handle the transaction, ensure the title transfer and represent both parties, so it is not necessary for the buyer to have a lawyer for the procedure. Costs involved in buying property include notary costs (which depend on the property price), transfer taxes (5% of the purchase price), a settlement property tax (from US$200 to S1400 annually depending on the value of the estate). The total amount of the closing costs is approximately 6.5% of the property price.

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Lesser Antilles Leeward Islands Constituent countries of the Kingdom of the Netherlands Autonomous special municipalities of the Netherlands Bonaire Saba Sint Eustatius

Saba

Prime areas: The Bottom, Windwardside Capital: The Bottom Currency: US Dollar (US$) as of January 1st, 2011 Language: Papiamentu, Dutch, English Saba, the smallest island in the former Netherlands Antilles group, has no beaches. But it is famous for its ecotourism - hiking trails, rugged terrains, and spectacular scuba diving spots of coral reefs, volcanic walls and abundant marine life.

Lesser Antilles - Windward Islands Regional Comparisons

The island lacks commercial development and is quite isolated, making it a favourite honeymoon destination. Buying Property There are no restrictions on foreigners buying property in the Dutch islands. An alien's license is not required. Foreign buyers need to pay a deposit of 10% of the purchase price within three to five days upon price agreement. For further details see our coverage of Curasao.

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Caribbean Map Opportunities for buyers Western Caribbean Atlantic Islands Greater Antilles

Lesser Antilles Leeward Islands Constituent countries of the Kingdom of the Netherlands Autonomous special municipalities of the Netherlands Bonaire Saba Sint Eustatius

Sint Eustatius

Prime areas: Oranjestad, Concordia Capital: Oranjestad Currency: US Dollar (US$) as of January 1st, 2011 Language: Papiamentu, Dutch, English Sint Eustatius, also called Statia, has rugged coasts and black sand beaches. There are two dormant volcanoes on the island. Like Bonaire and Saba, it is a favourite diving destination. Tourism is the island's major industry.

Lesser Antilles - Windward Islands Regional Comparisons Buying Property There are no restrictions on foreigners buying property in the islands. An alien's license is not required. Foreign buyers need to pay a deposit of 10% of the purchase price within three to five days upon price agreement. In Bonaire and Curacao, the deposit must be paid within seven days. In purchasing property it is best to appoint a real estate agent, but there is no need to hire a lawyer. The notaris in the Island will take care of due diligence and all legal matters, and are mandated by law to serve both parties. The procedure for registering property takes up to 32 days. Property Taxes Buyers must pay a transfer tax of 3% and notary fees of 1%. Bonaire and Curacao charge 0.3% ground tax. In addition to that, a 15% municipal surcharge is levied on the amount payable in Curacao. There are no property taxes in Sint Maarten, Saba, and Sint Eustatius.

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Lesser Antilles Windward Islands Barbados Grenada Martinique Saint Lucia Saint Vincent and Grenadines Trinidad and Tobago Regional Comparisons

Barbados

Prime areas: West Coast (Platinum Coast), St James Capital: Bridgetown Currency: Barbadian Dollar (BB$) Language: English Barbados has the most expensive luxury properties in the Caribbean, with prices ranging from US$4 million to US$40 million. For the extremely wealthy, there are houses that come with US$75 million price tags. Luxury houses and villas still dominate the market, but apartments and condominium units priced between US$145,000 and US$1 million are now common. Many billionaires own homes on the Platinum Coast, which is the West Coast of St. James. Here villas go for US$3 million and townhouses for a little less than US$1 million. The major luxury development Apes Hill on St. James offers plots of land between US$4 million and US$8 million. New developments are also coming to the North, particularly in Schooner Bay and St. Peter's Bay. Luxury homes sell from US$2.1 million to US$3.4 million. As a former British colony, Barbados' legal system is very similar to the UK. Buying Property There are no restrictions on non-Barbadians buying and selling property in Barbados. Nonresidents must obtain permission from Barbados' Central Bank, which is pro forma, but failing to do so will void your purchase. The Central Bank of Barbados requires registration of all money brought into the country. It is best to hire a lawyer to help with the Central Bank and purchase transaction.

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Caribbean Map Opportunities for buyers Western Caribbean Atlantic Islands Greater Antilles Lesser Antilles -Leeward Islands

Lesser Antilles Windward Islands Barbados Grenada Martinique Saint Lucia Saint Vincent and Grenadines Trinidad and Tobago Regional Comparisons

Barbados (cont.) Buying Property Once agreement about the price has been reached, the purchaser and vendor sign a contract prepared by the vendor's attorney. At this time a 10% deposit is paid by the purchaser which the vendor's lawyer will hold in escrow until completion, when the balance of the purchase price is paid and the title passes to the purchaser by way of the conveyance. In Barbados property passes by conveyance of title. A purchaser will need a registered Barbadian attorney to search the register and establish title to the property prior to the completion of a sale. Between the time of executing the contract and the completion of the sale, the legal representative of the purchaser will search the title, and ensure that there are no encumbrances, charges, encroachments, or other impediments to the sale. This normally takes two to three months. The final step is for the vendor to pay for the transfer taxes and the government stamp duty. Property Taxes There are no property or transfer taxes for the purchase of property, but 1-2% legal fees for the transaction. Individual Taxation Non-residents are liable to tax on their Barbadian-sourced income. Married couples are taxed separately. Income Tax Rental income Rental income from residential property is taxed at a special flat rate of 15%. Capital Gains Tax There is no capital gains tax.

GLOBAL PROPERTY GUIDE For sale by Coldwell Banker St. james, Barbados (US$2,950,000 - Property ID: #173). The large wrap around covered terrace provides fabulous entertaining space suitable for watching the sunset and intimate dining. The large sun terrace and big negative edge pool make this villa ideal for low key enjoyment of Barbados's year round sunshine.

Luxury villa Barbados 4,917 sq. ft (457 sq. metre) 4 - bedroom villa Price: US$2,950,000 Listed by: David Raizman Gated, Peaceful & Private Ideal holiday or a second home Spectacular sea views 5 mins drive from shops, bars & exclusive beach front restaurants With 3 large double bedrooms with ensuite bathrooms and a spacious master suite occupying the whole of the top floor, this villa is a true family gem. The master suite has great views of the sea from the balcony and bedroom, a huge walk in dressing room and a master bathroom combining double vanities expansive shower and freestanding bath. Greentails is a successful luxury development that sits alongside the established and high end residential areas of Sion Hill, Mahogany Park and Turtle Back Ridge, offering a peaceful and private location. In comparison to some other development areas, owners benefit from quiet enjoyment and low community charges.

Coldwell Banker The Real Estate Company St. James, Barbados (+1) 246 230-2642 draizman@coldwellbankerbarbados.com www.coldwellbankerbarbados.com

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Grenada

Prime areas: Grand Anse Capital: St Georges Currency: Eastern Caribbean Dollar (ECD) Language: English, French Patois Grenada is one of the best diving spots in the Caribbean. The island, known as the 'Isle of Spice' for its abundant nutmeg and cinnamon production, boasts lush rainforests and beautiful coasts. Grenada's property market is small, but poised for growth. Properties available for sale are two- to three-bedroom villas and residential lots. Buying Property Foreigners who buy property must apply for an Alien Land Holding License. Once the license is granted, 10% of the property's price is paid to the government as Alien Land Holding Tax. A bank reference and home country police clearance are required. The buyer also must pay 1% stamp duty. Legal fees are about 2% of the property price. Property Taxes Buyers are required to pay a 3% Transfer Tax and 2% Registry Tax.

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Lesser Antilles Windward Islands Barbados Grenada Martinique Saint Lucia Saint Vincent and Grenadines Trinidad and Tobago Regional Comparisons

Martinique (French West Indies)

Capital: Fort-de-France, Lamentin Currency: Euro (EU) Language: French

Martinique is a flourishing tourist destination that caters mostly to the French market. It is an 'overseas department' (DOM) of France, and thus almost all housing is subsidized under the Loi Girardin, which allows 40% of a DOM located property purchase cost to be written off against future tax payments. Such incentives have spurred an entire industry of financial consultants advising on 'defiscalisation'. Property prices have greatly risen in the last few years, typically to over â&#x201A;Ź150 per sq. m (US$204) in Martinique. Land has become very scarce in Fort de France and Lamentin, Matinique's main business areas, and in Trois Islets and Point du Bourg, the tourist areas. Taxes Rental Income The net income received by a nonresident is subject to a minimum income tax rate of 20%, unless the taxpayer can prove that, if he had been resident in France, his effective rates of taxation (on his worldwide income) would have been lower than 20% (which is unlikely). This rate applies to both furnished and unfurnished rentals. Buying Property As it is part of France, French property laws apply in Martinique. Non-EU residents face more restrictions when buying property than locals and EU residents do. Foreigners are advised to enlist the services of an attorney for real estate transactions on the island, and will have to deal with a notary public to draw up contracts and to comply with local regulations.

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Saint Lucia

Prime areas: Castries, Savannes Bay Capital: Castries Currency: Eastern Caribbean Dollar (ECD) Language: English (official), French patois St. Lucia is world renowned as an eco-tourism destination. The twin peaks of the Piton Mountains, the Diamond Falls, and the beautiful coves and beaches, lure droves of tourists to the island each year. The island is fast becoming a first class holiday destination. What also attracts visitors is ease of access - St Lucia has direct flights from the UK, London, New York, Toronto and Miami. St. Lucia is an independent country and a member of the Commonwealth. It enjoys a stable economic and political climate, and has a low crime rate. The island has a well-developed leisure industry and infrastructure. These make investment attractive. The property market is still in its infancy though it has grown in recent years. There are new developments being planned. But St Lucia is a volcanic island with lots of mountains and jungles, which means development is limited and there is no danger of the island being overdeveloped. In fact St. Lucia is less developed than most Caribbean islands. The market will not have an oversupply of properties and values will hold up well in the long-term. St. Lucia is very popular with foreign buyers. Properties available to foreign buyers range from secluded private villas to luxury apartments. Three- to four-bedroom houses start at US$550,000

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Saint Lucia (cont.) Buying property For foreign buyers an Alien Landholders License is required to purchase property. It costs from ECD $5,000 to $50,000 (US$1,850 to US$18,500). Buyers are required to pay stamp duty of 2% of property value and legal fees of up to 5%.

Lesser Antilles Windward Islands

Purchasing property in St Lucia is fairly easy for non-nationals. Saint Lucian law is based on English law so the buyer is well protected. Some lawyers charge a percentage of purchase price which is negotiable.

Barbados Grenada Martinique Saint Lucia Saint Vincent and Grenadines Trinidad and Tobago Regional Comparisons

Most people set up a company through which to purchase the property as this reduces the tax when you sell, from 10% to 0.5%. The cost for this is about US$1,800. Your home is then registered with the Land Registry. Tax No capital gains tax No inheritance tax

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Saint Vincent and the Grenadines Prime areas: Mustique, Palm Island, Union Island

Capital: Kingstown (St Vincent) Currency: Eastern Caribbean Dollar (ECD) Language: English, French patois St. Vincent and the Grenadines, which is made up of 32 islands, is an independent member of the British Commonwealth. Its wealth of natural beauty includes lush rainforests, an active volcano (La SoufriĂŞre), black sand beaches and turquoise water. Many of its islands are known for diving and yachting, and some have become popular resorts of the rich and famous, like Palm Island and Union Island. Prices vary from island to island, ranging from affordable, to multi-million dollar luxury villas in Mustique.

Regional Comparisons

This 1,400 acre world-class private island is operated by the Mustique Company which comprises of shareholders and villa owners. The average price for properties in the islands is US$2,300 per square metre (sq. m.), according to Global Property Guide research. The islands lie within the Hurricane Belt.

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Lesser Antilles Windward Islands Barbados Grenada Martinique Saint Lucia Saint Vincent and Grenadines Trinidad and Tobago Regional Comparisons

Saint Vincent and the Grenadines (cont.) Buying property Buyers are required to obtain an Alien Land Holding License, which usually takes up to 14 weeks. The license is property specific and non-transferable. It costs from ECD $10,000 to $105,000 depending on the value of the property. A 10% deposit should also be paid. Property owners are qualified to apply for residency. Property Tax Stamp duty on registration is 10%, evenly split between buyer and seller. Income Tax Rental Income Non-resident individuals earning rental income in St. Vincent and the Grenadines are liable to pay withholding tax at a rate of 10% on their gross rent. Capital Gains There is no capital gains tax.

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Lesser Antilles Windward Islands Barbados Grenada Martinique Saint Lucia Saint Vincent and Grenadines Trinidad and Tobago Regional Comparisons

Trinidad and Tobago

Prime areas: Port of Spain, West region Capital: Port of Spain (Trinidad) Currency: Trinidad and Tobago dollar (TTD) Language: English, Hindi, French, Spanish Trinidad and Tobago is an economic powerhouse thanks to Trinidad's vast quantities of oil and gas, particularly ammonia, methanol and LNG. The twin-island nation does not heavily depend on tourism, but the island of Trinidad is world-famous for the Trinidad Carnival. The smaller island Tobago benefits from Trinidad's prosperity, but it has its own wealth of secluded white beaches, blue waters and lush rainforests that attract many property investors. As the economy has grown rapidly, so has the property market. Trinidad experienced a construction boom from 1991 to 2006, with house prices rising over 400% during this period. Much new private housing was built in Port of Spain, in the northwest region, and the area around Point Lisas Industrial Estate, the centre of Trinidad and Tobago's petrochemical industry. In the highly desirable West region near Port of Spain, upscale properties sell from TT$2 million to TT$8 million (US$312,500 to US$1,250,000). Westmoorings and Goodwood Park are two attractive locations to rent or buy in Trinidad. Residential rents for the expat market range from US$1,500 to US$10,000 for an apartment, per month, depending on location. Many developments are still coming on to the market, despite the pause in new construction. It will take a year or two before all the available upscale properties are absorbed. Choices of properties available include private houses, luxury apartments, townhouses, and gated communities.

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Trinidad and Tobago (cont.) Buying property In Trinidad, foreign buyers can purchase up to one acre of property for residential use without a license. On Tobago, foreigners must obtain a license to acquire land for any purpose. Permission to buy land does not confer residency. However, if you plan to come on holiday to enjoy your new property, a non-resident is usually allowed up to three months, with or without the need for a visa depending on the country of origin. Discretionary extensions can be applied for. Foreign nationals wishing to invest in larger properties of over five acres must apply for a development license through the Tourism Development Company (TDC). The TDC will facilitate applications, and advise on fiscal incentives. Buying a commercial property does not confer the right to work (earn an income) in Trinidad and Tobago. Work permits are needed for any work that lasts longer than 30 days. When the price of the property has been agreed upon by the buyer and the seller, both parties enter into an Agreement of Sale and a 10% deposit to be held in escrow is required of the buyer. It is stated in the Sales Agreement that both parties have 90 days to complete everything that is needed to close the transaction. The next step is to hire a lawyer to prepare documents for Conveyance and to do a title search on the property. It must be ascertained that the property is free from any encumbrance. After the all costs, including the balance on the purchase price, have been paid, the stamped instruments must be registered. Under the Real Property Ordinance, registration is compulsory for the transfer to be effective. The lawyer will register the property in the Red House (the seat of the National Parliament). The registration must be brought to the Warden's Office where the property is located. Registration of all purchases made by foreigners with the Ministry of Finance is required.

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Trinidad and Tobago (cont.) Property Taxes Buyers are required to pay 5% to 10% stamp duty, plus legal fees. Land Tax Real property owners are required to pay an annual land tax of TTD10 (US$1.60) per acre. Buildings Tax Buildings tax is levied at 7.5% of the annual capital value. Property owners are liable to pay this tax. Taxes Individual Taxation Non-residents are taxed on their income from Trinidad and Tobago. Married couples are assessed separately. Income Tax Income from all sources is taxed at a flat rate of 25%. Residents are not entitledto tax deductions. Rental Income Rental income earned by non-resident individuals not engaged in trade or business in Trinidad and Tobago is subject to a flat withholding tax rate of 20%. Rental income earned by non-resident individuals engaged in trade or business in Trinidad and Tobago is subject to a flat rate of 25%. The taxable rental income is computed by deducting income-generating expenses from the gross income. Deductions against rental income include maintenance & repair costs, insurance, rates & taxes, gas, electricity, telephone, security, pest control, wear & tear (depreciation) on furniture, fittings, and equipment; and interest expense. Capital Gains None, except on the disposal of an asset within twelve months of acquisition, which is taxable at a flat rate of 25%.

GLOBAL PROPERTY GUIDE Regional Comparisons Caribbean Map Opportunities for buyers Western Caribbean Atlantic Islands Greater Antilles Lesser Antilles -Leeward Islands Lesser Antilles -Windward Islands

Regional Comparisons Square Metre Prices Capital Gains Tax Gross Rental Yields Landlord and Tenat laws ratings

Caribbean: Square Metre Prices Bermuda BVI Barbados Cayman Is. Turks & C. Is. St Kitts & Nevis Bahamas St Lucia Martinique St Martin US Virgin Is. Belize Guadeloupe Antigua Trinidad & T. Neth. Antilles Puerto Rico Dom. Rep. Aruba Jamaica

$8,861 $7,243 $5,824 $5,524 $4,351 $4,128 $3,920 $3,880 $3,291 $3,267 $3,005 $2,978 $2,958 $2,946 $2,501 $2,162 $2,014 $1,769 $1,747 $1,401 Source: Global Property Guide

Caribbean: Capital Gains Taxes (%) Guadeloupe Puerto Rico Dom. Rep. US Virgin Is. Martinique St Lucia St Martin St Vincent & G Trinidad & T. Turks & C. Is. Anguilla Antigua Aruba Bahamas Barbados Bermuda BVI Cayman Is. Dominica Grenada Jamaica Montserrat Neth. Antilles St Kitts & Nevis

33.30% 29.00% 25.00% 15.00% 6.45% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Source: Global Property Guide

GLOBAL PROPERTY GUIDE Caribbean: Gross Rental Yields (%)

Caribbean Map Opportunities for buyers Western Caribbean Atlantic Islands Greater Antilles Lesser Antilles -Leeward Islands Lesser Antilles -Windward Islands

Regional Comparisons Square Metre Prices Capital Gains Tax Gross Rental Yields Landlord and Tenat laws ratings

Jamaica

10.07%

Bahamas

7.49%

Cayman Is.

5.77%

Puerto Rico

5.76%

Bermuda

5.70%

Martinique

5.53%

Guadeloupe

5.23%

St Martin

4.90%

Trinidad & T.

4.21%

Antigua

4.13%

St Kitts & Nevis

3.68%

Barbados

3.52%

BVI

2.91%

St Lucia

1.91% Source: Global Property Guide

Caribbean: Landlord and Tenant Laws - Our Rating Strongly Pro Pro Tenant Tenant

Pro Neutral

Pro Strongly Landlord Pro Landlord

Anguilla Bahamas Belize Bermuda Cayman Is. Dominica St Kitts & Nevis Turks & C. is. Barbados Grenada US Virgin Is. Aruba Jamaica Neth. Antilles Puerto Rico Trinidad & T. Dom. Rep. Guadeloupe Martinique St Vincent & G Source: Global Property Guide

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GLOBAL PROPERTY GUIDE

What is the Global Property Guide? Launched in 2004, the Global Property Guide provides in-house research to help buyers of residential property abroad. We look at Valuation (whether property is expensive by standards such as the Price/Rent ratio) Rates of taxation Total costs of buying and selling property Landlord and tenant law' Inheritance law and inheritance taxation Economic trends Our statistics on national house - price changes sell to the World Bank, IMF, and similar institutions (educational institutions should apply for special consideration to publisher@globalpropertyguide.com ). Our research is widely quoted by leading media such as The Economist, Forbes, the Wall Street Journal, the BBC, as well as by industry publications. Our ratings of landlord-friendly landlord and tenant law has since been emulated by OECD policy papers.

Global Property Guide,

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