What it costs to buy property in Barbados
A foreign buyer should budget roughly 1.5%–2.0% of the purchase price on top of the price itself. No licence or permit is required.
What you pay
- Legal fees1.5%–2.0% of the price$7,500–$10,000
| On a purchase of | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|
| Legal fees | $3,750 – $5,000 | $7,500 – $10,000 | $15,000 – $20,000 |
| Total on top of the price | 1.5%–2.0% | 1.5%–2.0% | 1.5%–2.0% |
Who carries the taxes and fees
What the seller pays — not you
- Property transfer tax — 2.5%2.5%, paid by the seller. The first BDS$150,000 is exempt where the land includes a dwelling; bare land is taxed from the first dollar.
- Stamp duty — 1%1% on the deed of conveyance, paid by the seller.
Guides that add every tax together and present the total as a buyer's bill overstate the cost. These are the seller's.
Can you buy as a foreigner?
No licence required
No restriction and no surcharge — non-residents are taxed exactly as residents are. Register the incoming funds with the Central Bank of Barbados at the time of purchase; that registration is what allows sale proceeds to be taken out of the country later.
No approval to wait for
With no permission to obtain, the timeline is set by conveyancing rather than by a government queue.
Take it with you
These figures as a PDF, worked out at the price you enter, with every source and the date it was checked.
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Nearby markets compared
What a foreign buyer pays on top of a $500,000 price, here and in the markets around it nearest in cost.
- BarbadosNo licence1.5%–2.0%
- CuraçaoNo licence5.0%–6.0%
- Trinidad and TobagoNo licence5.2%–6.2%
- ArubaNo licence6.2%–7.2%
- BonaireNo licence7.1%–8.1%
An estimate for budgeting, not legal or tax advice. These rates are traced to published sources but have not been reviewed by a practitioner in this jurisdiction. Confirm the current position with an attorney before you commit.
Sources: [1]