A Guide to Buying Property in Montserrat for Foreign Buyers
Known as the “Emerald Isle of the Caribbean,” the tiny island of Montserrat offers unhurried days spent lounging by the pool and quiet nights gazing at the stars.
If you are currently considering investing in real estate in Montserrat but you are wondering “where are the best places to buy property in Montserrat?” or “how do I go about owning property in Montserrat as a foreign buyer” then this guide is for you.
Our guide takes you through the process of buying property in Montserrat from beginning to end, including an introduction to the real estate market, the buying process and the taxes you will need to be aware of.
Overview – The Montserrat Real Estate Market
In 1979, when Beatles producer George Martin sought out the ideal location to build and operate a music studio in an idyllic location away from the crowds, he chose the tiny, green mountain-covered island of Montserrat. Music stars from Paul McCartney to Eric Clapton journeyed to Montserrat and discovered an island paradise. Montserrat welcomed rock star royalty who were soon joined by a small group of highly devoted families who purchased property on Montserrat, treasuring the qualities of the island: dramatic natural beauty, peace, and quiet, safety and security.
The charms that lured those famous families to the island decades ago have fortunately been retained and the Montserrat property market today offers waterfront homes at substantially lower prices than other comparable investment locations in the Caribbean. The quiet “Emerald Isle of the Caribbean” attracts a dedicated set of snowbirds who continue to return each year via a short flight from nearby Antigua to soak up the sun at their spacious villas.
With almost no beachfront properties, condos or apartments and very limited stock of high-quality real estate available, homes in the most desirable areas are in high demand and property prices are expected to rise across Montserrat, especially in areas such as Woodlands, Olveston, Old Towne and Isles Bay.
Buying Property in Montserrat
Can foreigners buy property in Montserrat?
Yes, foreigners can buy property in Montserrat and the Government of Montserrat welcomes investment from overseas buyers. There are no restrictions on foreign buyers acquiring real estate in Montserrat. In order to purchase real estate in Montserrat, foreign buyers need to apply for an Alien Land Holding Licence (ALHL) which costs $2,500 or 5% of the purchase price (whichever is greater) and takes approximately 4 to 8 weeks for approval.
Buying property in Montserrat is a relatively simple process, which typically involves the following steps:
- Begin your property search.
- Find your perfect property and make an offer.
- Once you have made an offer on a property and the offer has been accepted, you will need to engage a local attorney to assist you in applying for an Alien Land Holding License and preparing the contracts.
- Upon signing the contract, the buyer needs to pay the deposit which is typically 10% of the agreed purchase price. The sales contract should be conditional on the application and approval of the Alien Landholding License.
- Upon receiving approval of the Alien Landholding License, the buyer will transfer the balance of the purchase price (typically within 30 days).
- Pay all required taxes and fees.
- Upon closing, the seller signs a memorandum of transfer and the buyer will receive the title (land certificate) for the property.
Transfer Fees & Stamp Tax
Buyers are responsible for the payment of Transfer fees and Stamp Tax which amounts to 2.75% of the price of the real property (excluding contents).
In addition, buyers will need to cover the cost of their attorney’s fees which typically total 2% of the purchase price of the property.
There is an annual residential land tax rate of 0.05% per year and building tax rate of 0.025% per year.
Search Montserrat Real Estate Listings
As specialists in luxury Caribbean property, we can introduce you to a wide selection of the finest residential property in Montserrat.
Homes for Sale & Condos for Sale
Land for Sale
You can also browse undeveloped land. Purchasing a lot of land provides you with a blank canvas and the opportunity to build your dream home in Montserrat.
Whether you are looking for beachfront land or a centrally located lot, we’re here to help you find the perfect lot of land for sale in Montserrat.
For larger parcels of land for commercial development, please see our commercial real estate listings.
Hotels for Sale
Searching for hotels for sale in Montserrat? Browse hotels, B&Bs and guests houses right here.
Finding the Perfect Property for Sale in Montserrat
Discover the most sought after real estate investment opportunities and benefit from unrivaled insight into the market.
To find your perfect property in Montserrat, search our Montserrat real estate listings.
Best Places to Buy Property in Montserrat
Located on the central western coast, the area of Woodlands is one of the most prestigious locations to invest in Montserrat real estate. Houses in this quiet residential part of the island count among the most desirable homes on the island. Property for sale in Woodlands enjoy easy access to local shops and restaurants and enjoy views of quiet Woodlands Beach, the Caribbean Sea and even neighbouring St Kitts & Nevis in the distance on a clear day.
Located just south of Woodlands on the central western coast, Olveston is a highly desirable location for buying a home in Montserrat. The quiet residential area is popular for its beautiful waterfront villas for sale which offer views of Woodlands Bay and Lime Kiln Bay. Homes in Olveston are ideal for enjoying Montserrat’s quiet, slow-paced lifestyle and the several restaurants in the area such as Olveston House.
Old Towne & Isles Bay
The quiet residential area of Old Towne is located just south of Woodlands and Olveston on the central western coast of Montserrat. There are some charming waterfront villas for sale offering spectacular views of the Caribbean Sea, the small uninhabited island of Redonda and passing yachts. Property in Old Towne can be purchased for significantly less than in other parts of the Caribbean. Isles Bay also offers delightful houses for sale on gently sloping hillsides to take advantage of the magnificent views of the sea and Isles Bay Beach. The area would make an ideal second home or retirement property.
How long can a foreign citizen stay in Montserrat?
While Montserrat is an Overseas Territory of the UK, it has its own visa policy. Citizens of the USA, Canada, UK, EU and many countries in the Caribbean and Latin America are permitted to remain in Montserrat on holiday without a visa for up to 6 months.
How do I become a resident of Montserrat?
Montserrat operates an Economic Residency Programme which allows foreign nationals depositing EC $400,000 in a bank account in Montserrat or investing EC $400,000 in real estate in Montserrat to apply for a residence permit.
Foreign nationals that have resided lawfully in Montserrat for at least 5 years can then apply for a Permit of Permanent Residence.
How do I become a citizen of Montserrat?
Individuals who have been legally resident in Montserrat for at least 5 years may be eligible under the British Nationality Act to apply for naturalization as a British Overseas Territories Citizen (BOTC).
Sending Money to Montserrat
You could save money when investing in Montserrat real estate by using a foreign exchange expert to get the best rate for your property purchase. We have partnered with Halo Financial, a specialist in foreign exchange, to help you get the best exchange rates when making one-off or regular international payments for a property purchase in Montserrat. To see how you could save money, read more: Foreign Exchange.
How to Get to Montserrat
There are no direct flights from North America, South America, Europe or Asia to Montserrat.
To get to Montserrat, you should take a flight to Antigua, which is one of the Caribbean’s most accessible destinations.
From Antigua, take a short connecting flight to Gerald’s Airport on Montserrat with FlyMontserrat or SVG Air.
London to Antigua: 8 hours
Miami to Antigua: 3 hours
New York to Antigua: 4 hours
Toronto to Antigua: 5 hours
Antigua to Montserrat: 20 minutes