A purchaser will typically pay an earnest deposit to Oil Nut Bay, Inc. This good faith deposit confirms the intent to proceed with a purchase.

The purchaser need not be present in the BVI at any stage of these transactions.

There is a three year commitment to develop unimproved land. If the property has already been improved, there may be no further requirement to improve. Several banks in the BVI offer retail banking services to overseas purchasers. Typical rates are 5 – 5.5% for a 15 year term.

Mortgage finance will usually be available to overseas investors subject to status. Construction finance may also be available for new construction.

There are certain rules and regulations when buying property in the BVI. Let Bonnie Dougall Luxury Properties point you in the right direction and put your mind at ease when deciding the right steps needed to achieve this task.