New Incentives for Investors in Nevis Real Estate Announced
Have you been considering buying property in Nevis? If so, recently introduced incentives have made this idyllic island more appealing than ever.
The tiny, beautiful island has announced a new collection of concessions designed to encourage foreign investment in real estate in Nevis and boost the island’s economy.
The incentives reduce the cost of buying and building a home in Nevis.
Below we outline the measures in more detail.
1. Incentives for Buying Real Estate in Nevis
Firstly, the Nevis Island Administration (NIA) has announced incentives for foreign investors purchasing real estate on the island.
The incentives comprise a 3-month waiver of the Alien Land Holding License fee.
Ordinarily non-nationals must apply for an Alien Land Holding License which incurs a fee of 10% of the net real estate price.
Thanks to the new measures, this fee will be waived on property purchases up until the end of December 2020.
2. Incentives for Building a Home on Nevis
Secondly, earlier this year the Nevis Island Administration announced incentives designed to stimulate construction.
Customs Duty and Service Charge on material orders over US $30,000 will also be waived for individuals commencing a renovation or building project by 31st December 2020.
To ensure the island also benefits from these incentives, 80% of the workforce employed on the building project must be from the talented pool of St Kitts & Nevis contractors and tradesmen.
Finding Your Perfect Property in Nevis
So, whether you are looking to buy or build, there has never been a better time to invest in Nevis real estate.
For more details and to discover the finest investment opportunities on the island, contact 7th Heaven Properties, the Luxury Caribbean Property Specialist.
To browse even more investment opportunities, explore Nevis real estate on our website and find your perfect property on the island known as “Queen of the Caribees” with 7th Heaven Properties.