Living in Paradise is a breeze, and owning a piece of paradise can be too, so long as you know who to trust to take you through the process.

If you would like to buy a piece of 'Natures Little Secret' and you're a Non-Belonger, you will first have to obtain a Non-Belongers Land-holding License (NBLHL). This can be a somewhat lengthy process with certain stipulations. However, Property BVI can assist you with locating an attorney to accelerate the process considerably.

An application for the NBLHL can be easily picked up at The Ministry of Natural Resources and Labour Department, located in the Government Administration Complex at Wickhams Cay 1. When submitting the application you will be required to submit the following:

• two character references
• a police certificate of good standing; and
• financial references

There is a Non-Belonger application fee of $200.00 for each person named on the application, and $300.00 for companies. Cost to collect NBLHL document is $600.00 for each person, company, shareholder or director.

If you are purchasing undeveloped land, it is mandatory for expatriates to commit to spend $250,000.00 or more on the actual structure that will be built. The details of the proposed structure must be specified. Usually, the Government will confer a specific time limit of about 3 years to complete the construction. Subdivision of land is not permitted.

After the interest of a particular property is shown, and the necessary local advertisements are made, a 10% earnest deposit is required to be paid to the vendor or the agent. The deposit will be held in an escrow account until the close of the sale. A Purchase and Sale Agreement will be signed after the deposit is paid. The agreement will contain a condition that requires the completion of the purchase. This is contingent upon the purchaser obtaining a NBLHL. After the license is approved, there will be a required time limit of 30 days in which you will be required to close on the sale. Payment of the remaining balance on the purchase price is due at this point.

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