{"id":2787,"date":"2021-05-24T23:53:47","date_gmt":"2021-05-24T23:53:47","guid":{"rendered":"https:\/\/www.visitmontserrat.com\/?p=2787"},"modified":"2021-06-28T02:17:02","modified_gmt":"2021-06-28T02:17:02","slug":"a-guide-to-buying-home-on-montserrat","status":"publish","type":"post","link":"https:\/\/www.visitmontserrat.com\/a-guide-to-buying-home-on-montserrat\/","title":{"rendered":"A Guide to Buying a Home on the Emerald Isle of the Caribbean \u2013 Montserrat"},"content":{"rendered":"<p>[vc_row el_class=&#8221;blog-post&#8221;][vc_column][vc_column_text]<\/p>\n<div class=\"wpb_text_column wpb_content_element \">\n<div class=\"wpb_wrapper\">\n<h4>A Guide to Buying a Home on the Emerald Isle of the Caribbean \u2013 Montserrat<\/h4>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]Since the early 50s, Montserrat has been an ideal home away from home for people who enjoy our quiet tranquility, low crime rate and a slower pace of life. As a British-dependent territory, the island maintains stability and is a popular long term residential choice for families from Canada, the United States and Europe.<br \/>\nThinking of making your commitment to the Emerald Isle of the Caribbean a bit more permanent with home ownership? Look no further than this guide for what you need to know to buy a home in Montserrat.[\/vc_column_text][vc_single_image image=&#8221;2803&#8243; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;][vc_column_text]There are no restrictions on foreign buyers acquiring property in Montserrat. To purchase land, the buyer must apply for an Alien Land Holding License (ALHL) which costs $2500 or 5% of the purchase price (whichever is greater). Your application must be accompanied by a copy of your passport, a police certificate from your country of residence, source of funds proof from your bank and utility bills showing your home address. Approval takes between four to eight weeks.<\/p>\n<p>Buying <a href=\"https:\/\/www.visitmontserrat.com\/villas\/\" target=\"_blank\" rel=\"noopener noreferrer\">real estate<\/a> in Montserrat begins with a property search. Make an offer with the homeowner or their real estate representative. Once your offer has been accepted, you must hire a local attorney to assist in applying for the ALHL and for preparing the contracts.<\/p>\n<p>A deposit of 10% of the agreed price is due upon signing of the contract. Ensure that the sales contract is conditional on the application and approval of the Alien Land Holding License.<\/p>\n<p>Once you have received approval for the ALHL, the buyer will need to transfer the balance of the purchase price usually within 30 days.<\/p>\n<p>Be sure to pay all required taxes and fees. Upon closing, the seller must sign a memorandum of transfer and the buyer will then receive the title (land certificate) for the property.<\/p>\n<p>A Transfer fee and Stamp Tax equivalent to 2.75% of the property (exclusive of the contents) must be paid.<\/p>\n<p>Buyers will need to cover the attorney\u2019s fees, which typically totals 2% of the purchase price.<\/p>\n<p>Montserrat property owners are billed an annual residential land tax rate of 0.05% and building tax rate of 0.025%.<\/p>\n<p>Check out this<a href=\"https:\/\/www.visitmontserrat.com\/villas\/\" target=\"_blank\" rel=\"noopener noreferrer\"> list<\/a> of property management companies to find your new home on Montserrat.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243; el_class=&#8221;blog-post&#8221;][vc_btn title=&#8221;Learn more&#8221; style=&#8221;flat&#8221; color=&#8221;primary&#8221; link=&#8221;url:https%3A%2F%2Fwww.tradewindsmontserrat.com%2Fproperty%2Fseascape-2%2F|target:_blank&#8221;][vc_btn title=&#8221;Other villas&#8221; style=&#8221;flat&#8221; link=&#8221;url:https%3A%2F%2Fwww.visitmontserrat.com%2Fvillas%2F|title:Apartments%20%26%20Villas%20in%20Montserrat&#8221; css=&#8221;.vc_custom_1621872747259{padding-left: 20px !important;}&#8221;][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row el_class=&#8221;blog-post&#8221;][vc_column][vc_column_text] A Guide to Buying a Home on the Emerald Isle of the Caribbean \u2013 Montserrat [\/vc_column_text][vc_column_text]Since the early 50s, Montserrat has been an ideal home away from home [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":2809,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rs_blank_template":"","rs_page_bg_color":"#ffffff","slide_template_v7":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[22],"tags":[],"table_tags":[],"class_list":["post-2787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-post"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A Guide to Buying a Home on the Emerald Isle of the Caribbean \u2013 Montserrat - Montserrat Tourism Authority<\/title>\n<meta name=\"description\" content=\"The Tourism Division, in an effort to enhance its brand awareness, has been collaborating with media outlets that complement the island\u2019s attributes and has a strong following. 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