Category Archives: caribbean villas

WATCH: Why Being Near Water Could Be the Key to Happiness, According to Research

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Even daydreaming about traveling off to a faraway island, where the sand is warm, and the water is crystal-clear blue can give people a sense of calm. So, this should make it no surprise that actually sitting next to a pristine body of water actually does come with some pretty fantastic well-being benefits.

According to best-selling author and marine biologist Wallace J. Nichols, merely being close to a body of water, be it sea, river, lake, or ocean, promotes mental health and happiness. And he wrote all about it in his book, Blue Mind.

“The term ‘blue mind’ describes the mildly meditative state we fall into when near, in, on or under water,” Nichols told USA Today in 2017. “It’s the antidote to what we refer to as ‘red mind,’ which is the anxious, over-connected and over-stimulated state that defines the new normal of modern life.”

As Nichols noted, research proves his theory that being near water can help us all achieve “an elevated and sustained happiness.”

That elevated level of happiness happens because, according to Nichols, water helps in “lowering stress and anxiety, increasing an overall sense of well-being and happiness, a lower heart and breathing rate, and safe, better workouts. Aquatic therapists are increasingly looking to the water to help treat and manage PTSD, addiction, anxiety disorders, autism and more.”

Perhaps this is why we are all willing to pay more for a house along the water, or a room with an ocean view.

Moreover, being near water can increase our creativity, including our conversational abilities. But, being near water doesn’t only help us during our waking hours. It can help us in our sleep, too.

“There is some research that says people may sleep better when they are adjacent to nature,” W. Christopher Winter, M.D., author of The Sleep Solution, told Conde Nast Traveler. “No wonder sleep machines always feature the sounds of rain, the ocean, or a flowing river.”

And this gift of Mother Nature’s to soothe us all with a simple drop of water is precisely why Nichols believes it’s so important to protect this precious gift.

Source: SouthernLiving.com – By Stacey Leasca July 19, 2018

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How to Start a Successful Airbnb in the Country, from Scratch

AirBnB in the Country

Have you dreamed of designing and renting out a country retreat through a popular site like Airbnb.com? One family shares how they made their rural Airbnb home a success.

The Hartman family live on a small piece of acreage just outside the Asheville, NorthCarolina city limits.

The Hartman family

Despite their proximity to one of the South’s most popular tourist destination cities, their land is rural in every sense.

Walk outside at the right time of day in the right season, and you may catch a glimpse of a black bear, wild turkeys, deer, a bobcat, some turtles or any number of birds. They’re less than a mile from several world-class hiking trails and the winding road to their home is surrounded by pasture and nature.

It’s the ideal blend of mountain-country-living with hip-city convenience.

So, when their neighbor’s home burned down about four years ago, the Hartmans leapt at the chance to buy up the 2.5 acres that abuts their current home.

Their plans for the land were vague, but after much planning, discussion, decision-making and brainstorming, they decided to build an Airbnb-style minifarm retreat: Blue Turtle Farm.

The only thing was, neither of them had any experience running a microfarm OR a hospitality business…nor did they have much spare time to learn. Meggan is a psychologist, sleep consultant and faculty member at Meridian University and Brody is an executive at a leading branding agency, as well as a Purpose Guide, mentor and a meditation teacher.

Yet they forged ahead and have managed to exceed their Airbnb business financial goals in just one year.

How did they do it (and could you do the same)? Read on to find out.

It All Started With 2.5 Wild Acres, A Chicken Coop And A Concrete Slab

Chicken in a chicken coop

Brody and Meggan knew they had something special in their new property (it’s not every day 2.5 acres with an existing house foundation and driveway go up for sale in your backyard). The trick was discovering the best use of that wild 2.5 acres.

“We sat on it for two years because we knew we had to get the overgrown land in order first,” Brody says. “So we got some chickens, got out there on weekends with the weed wacker and just dreamed about what we could do.”

Meggan adds, “We also had to set a clear intention for the property—do we want to have someone come in and do flowers, do we want to grow herbs or create a market garden? So we had to look at what we could feasibly do and manage with our limited time, andwhat made the most sense for income. We also knew we wanted continued access to the land.”

While they knew they wanted to care for the land by starting a sustainable “pocket farm,” they also knew the existing homesite would be perfect for an investment home.

“We always knew we’d build on that land someday and possibly move there,” Brody says, “the question was: just what type of structure to build and when?

“And if you’ve never managed or developed even a small piece of land, it’s a HUGE learning curve. So we had a ton of people come out to assess the soil, the water situation and where to place the home visually for functionality, off-grid capability and aesthetics.”

The Hartmans also talked to their neighbors about their plans and studied the local zoning laws.

Once the land was in order, they’d chosen the best homesite and decided on a short-term rental business, the next big choice was: what type of house to build?

Figuring Out What To Build: Tiny Home, Cabin Or Designer House?

Butterfly on a sunflower

The Hartmans originally thought they’d build something small and simple to keep costs low, but after talking to two real estate experts, they changed their minds.

“We consulted two of our friends in real estate and they both recommended we build-like we-needed-to-sell,” Brody says.

With that in mind, they began researching comps and found most buyers in the area were looking for a 3 bed, 2 ½ – 3 bath home with “X” amenities.

Brody says 3 other factors weighed heavily on their decision:

“#1: If we flip it one day, how do we get the most out of it for resale? #2: If we were to move over there, what would we want in a home? And #3: what would an ideal Airbnb experience be for our guests?”

In the end, the Hartmans hired a reputable local high-end builder to construct a modern 3-story, 3 bedroom/3 bath home with a separate basement suite on the existing foundation.

“Having a good architect or good house plans and finding a reputable builder is key. You also need to think about parking when designing your space,” Meggan says.

Next, They Turned Their Attention To Learning Their Local Airbnb Market

With a reputable builder in place and home design underway, the Hartmans re-focused on learning the local short-term rental market.

“We researched local Airbnbs and VRBOs for going rates, we read the reviews and drew on our personal experience as guests of Airbnbs,” says Brody. “We also talked to a lot of people who had Airbnbs. Knowing the market in your community is essential.”

How they determine competitive pricing:

While there are Airbnb-centric consultants, articles and content available, Meggan offered this advice on pricing:

“We knew we had to cover our costs and make a profit, and at the end of the day you’re working backwards from your mortgage—and it’s a bit of a moving target in the beginning because you know that number will change once you’re finished building.

“The Airbnb suggested rate for our area is lower than we decided to charge. But, we had a clear intention: we wanted to create the best experience in the best environment, and we knew people would pay for that.”

And they have. To-date, the Hartmans’ Airbnb earnings have already exceeded their monthly mortgage…and it’s been open for short-term rentals for less than one year.

“Pricing also depends on how you want to run your rental. For example, will it be a year-round rental or do you really want to crank it for just 4 months out of the year? So again, your intention and goals are everything.”

Tips On Creating The Best Experience In The Best Environment (without breaking the bank)

When it comes to creating an optimal guest experience, attention to detail is everything.

Bedroom

 

However, when you’re floating a mortgage and a construction loan you can’t typically do everything high-end. Here’s how the Hartmans furnished and decorated their Airbnb without breaking the bank:

  • Don’t go high-end on all the furniture. “Fortunately, the gentleman at our local furniture store runs his own Airbnb and told us where to invest,” Meggan says. “For example, he said not to invest in rugs, like use outdoor rugs indoors, and to think about high-traffic vs. low-traffic areas.”
  • Put your money where the details matter. “This means quality of the sheets, towels, beds, soaps and sundries. We’ve even gotten good reviews on our toilet paper, so little things like that matter to people.”

Once The House Was Complete, There Was Still A Lot To Do To Prepare For Guests

“In addition to getting the professional photography and branding/descriptions done, furniture had to be moved in and put together, detailed cleaning had to be done, window treatments installed, etc.,” Brody says. “It’s important you build in extra time to complete those details.”

When the house was finally done, the Hartmans invited friends and family to stay and critique the home.

“We told them to bring it! And thanks to their feedback we wound up replacing the downstairs bed and making some further improvements,” Meggan says.

To buy some time (and secure some more feedback) the Hartmans also rented the home to a local family of four for the first 3 months.

“That gave us a buffer and their feedback was extremely helpful.”

How They Promoted Their Brand New Short-term Rental Property

The Hartmans listed their home on Airbnb and VRBO and paid special attention to branding.

“Professional photography is very important,” says Brody, a branding expert, “as is getting the descriptions and owner’s manual just right.

Stairway and living room

 

“I’ll never forget when I got that first notification from Airbnb, then the first booking. It was so thrilling to see. I still get excited when I see them come in!”

Since Airbnb is all about recommendations and ratings, the Hartmans are vigilant about responding to guest requests, addressing any concerns and rating their guests promptly.

This attention to detail earned them “superhost” status in October. “It’s really important to get those milestones met, and it’s a high bar—no cancellations, at least 4.5 stars every time—but if you deliver, then superhost status will come,” Brody says.

While they are listed on both Airbnb and VRBO, they’ve found each application has its own distinctive audience and find Airbnb’s interface more intuitive and easy to manage.

To avoid double-bookings, they use an integrated managing calendar.

Running The Day-to-Day (Without Quitting Their Day Jobs)

For day-to-day, the Hartmans highly recommend hiring an exceptional cleaning service that specializes in short-term rentals/hospitality.

“Our first service was good, not great,” Brody recalls. “They didn’t get all the details or what it meant to be a superhost. I spend a lot of time in hotels for my job, so I know what those details are!”

One day, their cleaning service didn’t show up and Brody and Meggan had to run over to clean the house themselves. After that, they found a better service.

“We wound up hiring a husband and wife team who also does basic maintenance, which has been a game-changer,” Brody says. “They know what it means to care for a short-term rental, for example, she brings local magazines and keeps them up-to-date, and keeps the house impeccable.”

They’ve also given the cleaning service access to their booking calendars, which automates the entire process.

“Now we could leave the country for a month and would not worry.”

With the cleaning and maintenance dialed in, there’s very little other day-to-day work.

“The only other thing we do regularly is bring over wine, crackers, cheese and a custom welcome note,” Meggan says.

Technology also helps keep the day-to-day tasks at a minimum.

The Hartmans have set up their online booking so guests can book automatically—provided they meet certain requirements. Then they send a personal reply.

They also use an app that tells them if the doors are locked or unlocked, and they are out on the farm regularly should the guests need them (which they usually don’t).

How To Avoid Negative Reviews

Negative reviews are the plight of any modern short-term rental business, here’s how the Hartmans have maintained a nearly unblemished review profile:

“Airbnb lets you communicate with the guests before your mutual reviews are published. So we always take that opportunity to ask the guest if there’s anything we can do to improve hospitality. says Brody.

“With that approach, we’ve only had one 4-star review on one attribute saying we weren’t truly 12 minutes from downtown, so we changed the listing to 15 minutes.”

They also recommend being clear about the role you will play as host.

“Some hosts live off-property, some hosts live next door and personally greet every guest,” Meggan says. “We let people know we’ll be on the property and will be as available, or not, as they want. Most of our guests want to be self-sufficient and just say hello if they happen to see us, and we’re fine either way.”

How Long Did It Take The Business To Become Profitable?

“Our profit goal for year one was to exceed our mortgage costs, and we managed to do that within the first month of full-time short-term rentals,” says Brody. “There are months now that we’re more than doubling our mortgage.”

The Hartmans believe their location plays a role in this, as does the quality of the home and the natural beauty of the land.

Dining room and kitchen

 

Insider Startup Advice: What They Wish They Had Known

When asked their biggest startup challenges, the Hartmans offered these lessons learned:

  • “Money out vs. money in while building is a roller coaster—I mean you’re furnishing an entire house. It creeps up on you, and then once you get caught up in it you know you can’t skimp, so there’s that sense of having faith in the process.”
  • “Don’t skimp on construction! We did this right, but it’s still good advice. Our construction company came in on time and on budget. They landed that ship nicely.”
  • “The initial house set-up is crazy, so be prepared! That was a lot harder than we anticipated.”
  • “Be prepared to let it go,” says Brody, “I remember going over to answer some questions for our very first guests, and I walked in and saw this young man lying on my couch with his shoes on. I wanted to say, get your shoes off that couch! But I knew in that moment, I had to surrender the house. And that was quite a moment.”
  • “It pays to set your intention for the place,” says Meggan. “We really wanted to create a retreat and respite for people to unplug and connect with family…and it’s proving to be the perfect spot for families.”
  • “In the beginning we were so worried that the whole house would not get rented that we built that additional basement suite. Now I wish we hadn’t, because we’ve never not rented the whole house,” says Brody.
  • “Get your house rules figured out right away. This will keep your house in good condition and your neighbors happy.”

Where Will They Go From Here?

Based on their success and excellent reviews, the Hartmans’ property is now being considered for “Airbnb Plus” status.

This means they have to meet a 100-point inspection list and have a certain level of aesthetic value which caters to a higher-level guest. Airbnb pays to have the home re-photographed, and if they pass inspection, the property gets a special badge.

They also plan to add a hot tub and possibly a wood stove to increase winter rentals, and will use the property for purpose-building workshops.

To learn more about the Hartman’s property and view the rental, check them out at: www.blueturtlefarm.com or on their Airbnb page.

 

Source: Rethink Rural – Posted by Kristen Boye on April 15, 2019

 

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SOUTHERN CARIBBEAN REAL ESTATE CRUISE – EXPLORE THE REAL ESTATE MARKET WHILE CRUISING THE CARIBBEAN!

The Caribbean has always been a much sought-after destination for purchasing vacation homes and villas. In recent years its allure has increased even more. If you are curious about buying Caribbean real estate and are unsure of which island or type of property would be the right fir for you then perhaps the long-awaited Caribbean Vibrations TV Real Estate Cruise may be the place to start.

Organized and hosted by long time Caribbean Vibrations TV host, Alain P. Arthur, join Caribbean Vibrations on its first ever Caribbean Real Estate Cruise from November 16.23, 2019. Sailing throughout the Southern Caribbean for 7 days aboard the Celebrity Summit from Puerto Rico to St. Thomas, St. Kitts, St. Lucia, Antigua and Barbados we show you properties for sale on each island that will help turn your dream home into a reality.
During the cruise, you will be immersed in Caribbean lifestyle while having the opportunity to dialogue with key real estate & business leaders at each destination. Experience cultural diversity firsthand during organized property inspection tours while connecting with like-minded individuals interested in investing in the Caribbean.

CARIBBEAN VIBRATIONS PACKAGE INCLUDES:
• Round Trip Cruise departing Puerto Rico on the Celebrity Summit, choice of cabin category
• All Cruise Port charges, taxes, and fees
• All meals aboard the ship
• Welcome Reception in Puerto Rico
• Farewell Reception onboard the ship
• Pre-trip Real Estate Cruise Information Package
• Half Day Property Inspection Tours on 5 islands including land transportation
• Fully hosted by Caribbean Vibrations Ltd. and international real estate/travel agents
• Exclusive CV Luncheon or Reception at each island stop
• Plus, Caribbean Vibrations Special Perks

TO BOOK YOUR CRUISE CONTACT:
Anne Brobyn
Hibiscus Tours International Ltd.
Tel: 1-866-995-5948 anne@hibiscusinternational.com

Alain P. Arthur
Caribbean Vibrations TV
Tel: 416-451-8596 apa@caribbeanvibrationstv.com

Click link to learn more – https://www.youtube.com/watch?v=N1bxT-NGIlg

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How To Sell Your Property In Jamaica

 

Image may contain: ocean, sky, text, nature and outdoor

Thinking About Moving? Want A Change Of Scenery? Have You Had Any Thoughts Of Selling?

Selling a property in Jamaica, can be a scary process, if you do not have the right Real Estate Professional by your side. Thank God, I am here to assist you!

When selling Real Estate, every owner wants the same thing – the Best Possible Price with the least amount of Hassle and Aggravation. Doing business in today’s real estate world requires experience and training in such fields as: Real Estate Marketing, Financing, Negotiation and Closing – all of which I possess.

HOW DOES THE SALES PROCESS WORK HERE IN JAMAICA?

All you need to do is pick up the phone and give me a call at 1-876-862-5848. I can also be contacted via whatsapp, text messaging, email at paulasellsjamaica@gmail.com My Facebook Business Page – Paula Sells Jamaica and my YouTube Channel is – Paula Sells Jamaica. After which, I will schedule an appointment with you, at your earliest convenience, to view your property and discuss our way forward.

After I have viewed your property, I will go back to my office and research your property and present you with a Comparative Market Analysis (CMA). A CMA in the simplest of terms, is a valuation which a Professional Real Estate Agent does, which gives you a suggested price, at which to list your property for sale, by comparing your property with all the properties which have sold in recent time and which are currently on the market for sale in your area. Unfortunately, this cannot be used to submit to Banks or other Lending Institutions. After I present you with your CMA, I will also present you with my customized Marketing Plan for your Property. This is my guideline on how, I will get your property sold, for the most amount of money, in the shortest possible time.

Your Marketing Plan may include, but is not limited to: Newspaper Advertising, Magazine Advertising, Web-listing, Social Media Advertising (LinkedIn, Facebook, Instagram, YouTube, etc.), Signage (For Sale sign posted at a designated spot), Open Houses, Networking with other Sales Associates/Brokers or Real Estate Companies and other appropriate marketing strategies.

We will agree on the best Listing Price, that will ensure that your property is Competitive with others for sale in your surrounding area. We will discuss the Listing Agreement and the length of the Agreement. Then we will sign to what we have agreed upon.

The house will need to be in “Show” condition before being placed on the market, so we will also discuss what will need to be done, if anything, before your property goes up on the Multiple Listing System (MLS), where it will be syndicated to thousands of websites across the world. Our goal is to make your home as attractive as possible to Prospective Purchasers, which will shorten the time it will be on the market and increase the chances of us getting “Top Dollar” for your property.

After your house is placed on the market and we have done numerous showings to prospective purchasers and obtained an Offer to Purchase from an interested buyer. I will explain the Offers details to you and help you to negotiate the best possible price we will be able to get for your property.

After we have agreed on a Sales Price with the Purchasers, I will turn over all documentation to your Attorney, who will prepare the “Sales Agreement” for both you and the buyer to sign. The buyer will be required to pay a minimum deposit of 10% of the purchase price upon signing this agreement.

Both Attorney’s then begin the process of transferring the title, this includes the payment of Stamp Duties and Transfer Taxes. The balance of the purchasing price is due upon the closing of the sale.

HOW LONG DOES IT TAKE TO SELL A PROPERTY?

If the buyer’s purchase is financed by a Mortgage from a Jamaican Financial Institution, the average time to complete the sale is approximately 60-120 Days or 2-4 months from the signing of the Sales Agreement. However, please bear in mind, this is not always the case. This time frame may be extended because of situations beyond anyone’s control or it may also be shorter. It all depends on may variables.

The period of closing for a cash purchase is determined by the buyer and the seller. However, this can be as quickly as 30-45 days all being well.

WHAT ARE THE COSTS ASSOCIATED WITH SELLING A PROPERTY?

Government Transfer Taxes & Registration Fees (5% and 0.5% respectively of the Selling Price). This may change on April 1, 2019.

Government Stamp Duty (4% of the purchase price), which is shared equally between Seller and Buyer.

Real Estate Agent Commission (approximately 5% – 6%).

Attorneys Fees (approximately 3% – 5% of purchase price, or as negotiated).

 

Source : Paula Sells Jamaica – Paula Roper Bacchas
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How to Sell Your Property in Jamaica?

How to Sell Your Property in Jamaica?

Selling a property in Jamaica, can be a scary process, if you do not have the right Real Estate Professional by your side. Thank God, I am here to assist you!

When selling real estate, every owner wants the same thing – the best possible price with the least amount of hassle and aggravation. Doing business in today’s real estate world requires experience and training in such fields as: real estate marketing, financing, negotiation and closing – all of which I possess.

HOW DOES THE SALE PROCESS WORK?

  • All you need to do is pick up the phone and give me a call at 1-876-862-5848. I can also be contacted via whatsapp, text messaging, email atp.roper@century21jm.com My website at www.paulasellsjamaica My Facebook Business Page https://www.facebook.com/PaulaSellsRealEstate/ After which, I will schedule an appointment with you, at your earliest convenience, to view your property. After I have viewed your property, I will go back to my office and research your property and present you with a Comparative Market Analysis (CMA). A CMA in the simplest of terms, is a valuation which a Professional Real Estate Agent does, which gives you a suggested price, at which to list your property for sale, by comparing your property with all the properties which have sold in recent time and which are currently on the market for sale in your area. After I present you with your CMA, I will also present you with my customized Marketing Plan for your property. This is my guideline on how, I will get your property sold, for the most amount of money, in the shortest possible time.
  • Your Marketing Plan may include, but is not limited to: newspaper advertising, magazine advertising, web-listing, social media advertising, signage, open houses, networking with other Sales Associates or real estate companies and other appropriate marketing strategies.
  • We will agree on a listing price, that will ensure that your property is competitive with others for sale in your surrounding area.
  • We will discuss the Listing Agreement and the length of the Agreement. Then we will sign to what we have agreed upon.
  • The house will need to be in “show” condition before being placed on the market, so we will also discuss what will need to be done, if anything, before your property goes up on the Multiple Listing System (MLS), where it will be syndicated to thousands of websites across the world. Our goal is to make your home as attractive as possible to prospective purchasers, which will shorten the time it will be on the market and increase the chances of us getting top dollar for your property.
  • After your house is placed on the market and we have done numerous showings to prospective purchasers and obtained an Offer to Purchase from an interested buyer. I will explain the Offers details to you and help you to negotiate the best possible price we will be able to get for your property.
  • After we have agreed on a Sales Price with the Purchasers, I will turn over all documentation to your Attorney, who will prepare a “Sales Agreement” for both you and the buyer to sign. The buyer will be required to pay a minimum deposit of 10% of the purchase price upon signing this agreement.
  • Both attorneys then begin the process of transferring the title, this includes the payment of stamp duties and transfer taxes
  • The balance of the purchasing price is due upon the closing of the sale

HOW LONG DOES IT TAKE TO SELL A PROPERTY?

  • If the buyer’s purchase is financed by a mortgage from a Jamaican financial institution, the average time to complete the sale is approximately 120 Days or 4 months from the signing of the Sales Agreement. However, please bear in mind, this is not always the case. This time frame may be extended because of situations beyond anyone’s control.
  • The period of closing for a cash purchase is determined by the buyer and the seller. However, this can be as quickly as 30-45 days depending.

WHAT ARE THE COSTS ASSOCIATED WITH SELLING A PROPERTY?

  • Government transfer taxes & registration fees (5% and 0.5% respectively of the selling price)
  • Government stamp duty (4% of the purchase price), which is shared equally between seller and buyer
  • Real Estate Sales Commission (approximately 5% to 7%)
  • Attorneys fees (approximately 3% of purchase price, or as negotiated)

I hope you found this information useful/helpful. If you have any follow-up questions or concerns, please feel free to contact me. I can be reached via the comments section below, LinkedIn direct message, email at p.roper@century21jm.com or whatsapp at 1-876-862-5848. Please feel free to send me a LinkedIn Invitation to connect & join my network.

Source: Paula Roper Bacchas is a Realtor Associate at Century 21 Heave-Ho Properties. Located at 31 Upper Waterloo Road, Suite 10, Kingston 10, Jamaica West Indies . You can contact me at 1-876-862-5848, Send me an Invitation to Connect on LinkedIn, Like my Facebook Page: https://www.facebook.com/PaulaSellsRealEstate/?ref=hl or visit my website at www.paulasellsjamaica.com or email at p.roper@century21jm.com

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How to Move to Barbados

how to move to barbados

Yes, it’s possible to move to the Caribbean, whether you want to add a second home or turn your Caribbean beach dream into a reality. Now, moving to the Caribbean means different things for different people and different price points — and that’s why we write our How to Move series, answering common questions about making the move. To help you think about it, we talked to Jason Applewhite, Operations Manager for Barbados’ One Caribbean Estates real estate brokerage to learn more.

Why should I move to Barbados?

Apart from the obvious appeal of the beautiful beaches, high average of 300+ days of sunshine a year and the natural appeal of the destination, Barbados enjoys a positive image in the global marketplace as a sound International Business Centre and has been effectively attracting Foreign Direct Investment for decades. Some of the main factors which have contributed to investors choosing this destination are:

¬ Attractive Fiscal environment/social stability
¬ Ease of access to housing market (no entry taxes and landholding license requirements)
¬ High Quality Construction
¬ Well developed and established amenities and amenitized world-class developments including Golf, Polo & Marina (Yachting/Sailing)
¬ Persons who invest in excess of US$2 Million automatically qualify to apply for a SERP (Special Entry and Residency Permit) towards obtaining residency status in Barbados

Companies looking to thrive in a highly competitive global marketplace invest in Barbados to capitalize on the business-friendly environment, strong human capital, high-quality infrastructure, tax advantages, investment protection, and overall good quality of life.

barbados 2

And can I live there? What are the residency laws, etc.?

As mentioned before, Barbados is a highly hospitable destination with strong human capital, high-quality infrastructure and an overall good quality of life. Persons who wish to take up permanent residence in Barbados must provide tangible evidence that they are not likely to become a charge on the nation. Applications should be made to the Immigration Department.

What are the advantages of living permanently vs. part time?

This is a rather broad question…and the specifics are varied. The United Nations Human Development Index ranks Barbados 57th and apart from the hospitality of the people the overall standard of living is high. To reiterate… the island has an excellent education system, a good healthcare system, affordable housing, sound telecommunications and all utilities available island-wide. So ultimately I’d have to say that there is less of an opportunity for one to benefit from these ‘perks’ if they are domiciled here rather than to miss out on them.

barbados wind

How much does the average home cost? 

This is a very broad question but across the different sectors of the real estate market the following are price ranges which outline/distinguish the distinctions between your ‘average home’ and a ‘luxury home’. The average home as we would perhaps define it falls into the Middle Income bracket as it relates to pricing. The pricing is set out according to the different sectors/sub-sectors:

Low – Middle Income (Modest Housing) US$75,000 – $275,000
Middle – High Income (Up-Market Housing) US$300,000 – $750,000
High-End – Luxury Market (Luxury Housing) US$800,000 – $1,000,000+

How much does a beachfront condo cost?

The ‘average’ cost is relative to the following factors or characteristics which include: configuration and size, and for the ‘typical’ beachfront condo this would be a 2-3 bedroom unit and relative to what the current available inventory on the market is and the size and price are as follows:

Size: 1,600 – 2,200 sq. ft.
No. of Bedrooms: 2-3
Price: US$850,000 – $1,600,000

How much does it cost to build a home?

Building cost for the ‘average’ home with basic finishes can be low as US$75 per sq. ft. going up to US$150. Anything above this price range ventures into the higher-end & luxury segment of the market.

barbados bay

What are the real estate taxes like?

Real Estate taxes are calculated on a tiered basis and this responsibility overseen by the Barbados Revenue Authority. The land tax year runs from April to March. Rates vary between nil and 0.75 percent of the value of the property, depending on the value, with a maximum land tax payable of BDS $60,000. The seller will have prepaid the land taxes before completion and a buyer will be responsible for the months between completion and March of the following year.

What are income taxes like?
Income Tax is levied on: The profits of a trade or business earned by an individual in a fiscal year; and the income earned by any other individual in a calendar year. Income Tax is levied on the income of persons resident or non-resident in Barbados. There is no tax on capital. The system of taxation is based on self-assessment

Liability for Income Tax

Resident
A Resident is a corporation managed and controlled in Barbados; or a non-national individual who is present in Barbados for more than 182 days in a calendar year. A resident corporation is subject to tax on its world income. A resident and domicile individual is subject to tax on his world income. The resident but not domiciled individual is subject to tax on his income derived in Barbados and on his income from foreign sources remitted to Barbados, or from which a benefit is derived in Barbados.
Non-resident
A Non-resident is a corporation whose place of management and control is outside Barbados; or a non-national individual who is present in Barbados for less than 183 days in a calendar year. A non-resident is subject to tax only on income derived in Barbados.

calimbo, barbados

Can I work in Barbados?

All non-nationals desirous of working in Barbados are required to register with immigration prior to commencing employment. The employer or ‘sponsor’ has the responsibility to make the application on behalf of the employee. The application fee is $300.00 BDS but the final fee will vary dependent on the category of work and the length of time requested and in accordance with the international standard code fee regulations.

What’s health care like?

Compared to most developing and developed countries around the world and particularly in the Caribbean, it is good.

Can I bring my car? What’s the duty?

Yes you can, the costs vary depending on where you are coming from and the value of the vehicle.

Source: CaribbeanJournal.com – February 19th, 2016 | 11:09 am 

For more information on moving to Barbados or any other Caribbean island, contact the Ray C. McMillan Mortgage Team or visit www.RayMcMillan.com

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Robert De Niro’s Barbuda Hotel Project “Very Much on Track”

Robert De Niro’s major planned resort on the island of Barbuda is “very much on track,” according to Antigua and Barbuda Tourism Minister Asot Michael.

The project, which was announced at the end of 2014, is the brainchild of developers De Niro and James Packer, both of whom are frequent travelers to Antigua and Barbuda (De Niro is a frequent guest at the Jumby Bay private island resort).

The $250 million resort project is at the site of the former K-Club resort, and will be branded as the Paradise Found Hotel.

deniro

“Since these developers have announced their project in Barbuda, it has generated huge amount of free publicity for our destination,” Michael said. “It has also attracted other high net-worth investors such as former New York Mayor Michael Bloomberg who recently visited Antigua and Barbuda and later had his own private seaplane join him here in exploring both our islands.”

When the project was first announced, De Niro was named a special economic envoy for the country, and has helped pitch investment for the country in the United States.

It’s not the first hotel project for the Hollywood legend, who has developed several hotels under the Nobu brand with restaurateur Nobu Matsuhisa.

“Both developers Robert DeNiro and James Packer stayed here for Christmas in a demonstration of their love for our country and their wholehearted committed to this project,” Michael said.

Indeed, Packer stayed in Antigua recently with his fiancee, Mariah Carey.

“In spite of the delays and roadblocks, presented by the naysayers, the project continues,” Michael said.

Source: Caribbean Journal

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