Caribbean Islands » The Purchase Process

If you want to become a resident or citizen in order to purchase real estate in Caribbean islands than you need to present a copy of a current and valid passport as the identity document used for any sales contracts and eventual titles obtained from the title office. Recent legislation passed in the country has also strengthened the legal rights of foreigners in the legal system as it pertains to property ownership and investments inside the country.

One aspect of the property purchase process that may be different for someone coming from another country is the fact that a notarized sales contract constitutes an immediate legal right of sale and possession. The meaning of this is, the moment both the buyer and seller sign the sales contract, exchange payment and have the contract notarized, the buyer has the immediate legal right to take possession of the property. Immediately following this, the process of registration of a new title into the buyers name begins, but in terms of legalities the initial notarized sales contract has legal weight under the law for ownership purposes. Again, the title transfer in some respects can be considered somewhat of a formality that can take anywhere from 45 to 90 days, depending upon the expediency of the government title registration office.