Other Information

A few things to know about purchasing property in Tobago:-

  1. Non Nationals are permitted to purchase up to five acres for commercial purposes and one acre for residential pending approval of license application.
  2. It is required that all monies for the purchase must be shown coming from abroad in some form of foreign currency.
  3. A local solicitor must be hired to do all the necessary searches for the property to ensure that the property is being sold with vacant possession.
  • Conveyance Charges & Costs
  • Stamp Duty
  • Legal Fees

CONVEYANCE CHARGES AND COSTS:

  1. Legal fees 1.5%
  2. Search fees $1000.00
  3. Registration fees $100.00 (No VAT)
  4. Oath/Copies $100.00
  5. Preparing Contract $600.00
  6. Preparing Land Tax Return $450.00
  7. Preparing Foreign Investment Return $450.00
  8. Obtaining Valuation Report $600.00
  9. Stamp Duty calculated as below (No VAT)
  10. VAT 15% on all except on:- Stamp Duty (9) above and Registration fee (3) above.

STAMP DUTY

The present rates are:-

(a) Residential Deeds – (Property)

0 – 850,000 0%
Next 400,000 3%
Next 500,000 5%
Above 1,750,000 7.5%

(For this to apply we need Valuation Report, Land and Building Tax Receipt, WASA Receipt and Clearance Certificate).

(b) Non-Residential Deeds – (Land Only)

Where the Consideration
Does not exceed
0 – 300,000 2%
300,000 to 400,000 5%
400,000 and more 7%

LEGAL FEES

(ESTIMATE) – 1.5%