LOCAL LAWS & TAXES
A few things to know about purchasing property in Tobago
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Non Nationals are permitted to purchase up to five acres for commercial purposes and one acre for residential pending approval of license application.
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It is required that all monies for the purchase must be shown coming from abroad in some form of foreign currency.
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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 AND COSTS
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Legal fees 1.5%
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Search fees $1000.00
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Registration fees $100.00 (No VAT)
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Oath/Copies $100.00
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Preparing Contract $600.00
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Preparing Land Tax Return $450.00
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Preparing Foreign Investment Return $450.00
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Obtaining Valuation Report $600.00
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Stamp Duty calculated as below (No VAT)
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VAT 15% on all except on:- Stamp Duty and Registration fee.
STAMP DUTY
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Residential Deeds – (Property)
NB. For this to apply we need Valuation Report, Land and Building Tax Receipt, WASA Receipt and Clearance certificate.
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Non-Residential Deeds – (Land Only)
LEGAL FEES
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(ESTIMATE) – 1.5%