Nevis - Land purchase for a non national

Lawyers

Nevis – Land purchase for a non national

Daniel, Brantley and Associates is a leading firm in Nevis with over 75 years experience.

Specializing in Real Estate Law and other Commercial Law areas.

If you are interested in owning a piece of this halcyon isle we at Daniel, Brantley and Associates can assist you.

Once you have identified the portion of land you desire you must enter into a Purchase and Sale Agreement with a Vendor. The legal fees for a Purchase and Sale Agreement is usually one percent (1%) of the purchase price of the land.

As a non-national, you must apply for an Alien Land Holding Licence for the land. This mandatory application form must have an affidavit of identity and character attached.

The application is then submitted to Government for approval. If successful, you are required to pay Stamp duty on your Alien Land Holding Licence, which is ten percent (10%) of the purchase price of the land. Legal fees for preparing the necessary documentation is in the amount of US$400 per application.

Upon transfer of the land from the Vendor to the Purchaser, the Vendor must pay Stamp duty of twelve percent (12%) of the value of the land. This responsibility was ascribed to the Vendor by a recent change in our Stamps Act. The legal fees on transfer is usually one percent (1%) of the purchase price of the land.

In Nevis, there are two regimes whereby land can be held, by Certificate of Title or by Deed. Where land is held by Certificate of Title, the Purchaser is required to pay a fee towards the Government Assurance Fund. Certificates of Title are indefeasible and guaranteed by the Government. As such, the Assurance Fund operates as title insurance. This sum is calculated by dividing the purchase price by 500. There is also a nominal registration fee for the Certificate of Title for your land. If the land is contained in a Deed there is no Assurance Fund or registration fee payment.

The eventual advent of Caricom Single Market and Economy (“CSME”) in Nevis would significantly affect land purchases, as a non-national may no longer be required to apply for an Alien Land Holding Licence.

The Real Estate sector in Nevis is presently booming. There are several land development projects and housing schemes in the works.

Nevis caters to high-end tourism and exclusive living. We welcome all prospective purchasers to our little taste of heaven, Nevis.

written by

Keinya Blake

Associate, Daniel, Brantley & Associates