Property & Real Estate Law in the BVI

The Non-Belonger Land Holding Licence

Any non-Belonger — whether an individual or a company — must obtain a Non-Belonger Land Holding Licence (NBLHL) before owning land in the BVI. The licence is property-specific and non-transferable (it attaches to a particular parcel), and final approval requires the Governor's sign-off. As part of the process, the intended purchase is usually advertised locally for several consecutive weeks to confirm that no Belonger wishes to buy. Processing commonly takes several months, so it should be built into the transaction timetable from the start.

Stamp duty

Stamp duty is payable on transfers of BVI land, charged on the higher of the appraised market value or the purchase price. The headline rates are 4% for Belongers and 12% for non-Belongers. Duty is paid before the transfer is registered at the Land Registry.

The conveyancing process

A typical BVI purchase runs roughly as follows:

1. Agree terms and sign a letter of intent; a deposit (often around 10%) is held in escrow.
2. Advertise the purchase locally, as required for non-Belongers.
3. Carry out due diligence — title, surveys and searches.
4. Sign the binding sale-and-purchase agreement.
5. Apply for the NBLHL (and any other required consents).
6. Complete the purchase, pay stamp duty and register the transfer at the Land Registry.

Planning & development

Building and development require approval from Town & Country Planning, and NBLHL grants often carry development conditions — for example, an obligation to build within a set period. If you plan to develop, factor these conditions into your budget and schedule, and check the specific terms of your licence.