How Long Does It Take to Purchase Property Here?

We’re often asked – ‘How Long Does it Take to Purchase Property in the BVI?’. Buying real estate here in the British Virgin Islands requires some patience for foreigners. BVI property rules govern the amount of time things take here.

Ultimately, you will probably need to allow from 8 to 10 months to own the property you wish to buy. There is a lot that needs to be done, but we at Emerald Properties BVI will be guiding you every step of the way!

How Long Does it Take to Purchase Property in the BVI?

Here is how those several months will be spent:

• For nearly a month, we’ll be waiting to see if a BVI Belonger/Resident comes forward to meet the seller’s price and terms. Real estate rules in the BVI require you to run newspaper and online ads for 4 consecutive weeks. After that, you’re cleared for takeoff.
• For about 2-3 months, or however long it takes for the required due-diligence period, you’ll be getting property appraisals, structural surveys, plumbing/roof/electrical inspections, property title verification, etc.
• Depending on your financial circumstances, you’ll need to work with a bank to organize local financing.
• Last, but definitely not least, you’ll also need to allow ample time for the government to approve your Non-Belonger Land Holder License (NBLHL) application.

We have the local connections to help arrange every professional service needed, from a local attorney to bankers, surveyors, inspectors, builders, architects, and everyone else on the road to ownership. We strive to make buying real estate in the British Virgin Islands as painless and simple as possible. Let us pave the way to your dream of a home in the tropics!