How to Buy Real Estate in Tobago

Tobago, the smaller of the two islands that make up the island-nation Trinidad and Tobago, is a sandy Caribbean paradise. The island's white beaches and blue waters make real estate on Tobago a dream for both property investors and home buyers. Follow a few steps to buy property on the island.

Instructions

Difficulty: Challenging

1. Decide your purposes for buying real estate on Tobago. If you're looking for a Caribbean investment, there are some facts to take into account, such as property values and regulations regarding ownership. For those looking for an island home, however, the situation is simpler. Decide on your reasons before you start your search so you make the right decision.
2. Find out if you need a license. Foreign nationals can buy up to one acre for private property and five acres for commercial. If you're looking to buy larger real estate plots than that, you must apply for a special license from the government of Trinidad and Tobago.
3. Take your residency status into consideration. Owning real estate on Tobago does not confer residency or work privileges on the owner. If you plan to live on the property you buy, you should first clear your residency and work status with the government.
4. Consult with a local real estate brokerage. Trinidad and Tobago brokerage firms such as SeaJade will help you navigate the customs and regulations of buying property on the island. While there will be some commission fees for the broker, the time you save will be worth the extra money.