with all that's new at My-Island-Jamaica, Click Here to subscribe
for my updates and don't miss a thing!
Can a Non Jamaican buy/own Property in Jamaica?
QUESTION about: Can Non-Jamaicans Own Property in Jamaica?
For example can someone not born in Jamaica Buy or inherit Property in Jamaica ?
ANSWER: by Kesha Stewart
Hello My Friend,
According to the individuals and agencies I have spoken to since you made your request, non nationals can indeed own property in Jamaica. So just in case you have the good fortune to inherit property in Jamaica or you are seeking to buy property you will have a fair opportunity to do so. I also gather that real estate in Jamaica is not as expensive as some other Caribbean states.
Each week the two daily newspapers publish a listing of real estate that is available for rental or purchase. So a good way to get information about property is to check out the jamaica-gleaner.com and the jamaicaobserver.com. Of course there are realty companies with good track records so you can speak to them as well. They include Century 21 & Coldwell Bankers. Seeking a property that is already developed? Great. For this I can point you to WHICON and Gore Developments.
First Caribbean International Bank is able to provide mortgages internationally so you may even be able to secure one to purchase your dream Jamaican home or property. Chances are you could further development it or even to rent/lease to vacationers.
Steps to Ownership:
1. Make an offer
2. Given that the offer is accepted a survey and title search will be done merely to determine if any other claims exist or if there are conflict of interest against the property.
3. Then buyer places a caveat on the property to protect his/her interest until the transaction is inked.
4. Here the vendor’s lawyer prepares a sale agreement for both buyer and vendor to sign. The transaction now becomes official. It is also expected that payment of stamp duty (usually shared), and a deposit of about 20% of the selling price will be made.
5. Now you can submit an application to the Office of the Registrar of Titles, and pay up all associated government duties. Please be guided by your attorney as significant penalties accompany aspects of the process if one fails to honour timelines.
If your desire other types of properties, then I can tell you that there are a myriad of motor vehicle and motorcycle dealerships; some of higher repute than others (and even a few places to get a boat/yatch to buy).
You can even invest in going concerns such as the purchase of shares in listed companies and private entities too. Just speak to your trusted financial advisor.
I would also highly recommend that you do the following, as applicable to the type of property you wish to acquire:
1. Speak to your financial advisor in your country of origin.
2. Obtain the services of a Jamaican lawyer.
3. Engage a reputable realtor/stockbroker here in Jamaica.
4. Check out properties online in local papers, at iMaps jamaica or elandjamaica.gov.jm and the National Land Agency
5. Be careful of unsolicited offers.
6. Check the authenticity of websites which advertise cars, etc. for sale
7. Do the necessary checks to ensure that the dealership is a reputable one
8. Ask about hidden fees, taxes or charges so that you are not surprised.
Please note that in Jamaica there is a cash transaction limit of JMD1M per transaction. Sums over this amount require a manager’s check. Otherwise you could be suspected/investigated for money laundering!
There are at present several famous people like Ralph Lauren and his wife Ricky, who have property in Jamaica, so you would be in great company if you decide to purchase or if you do in fact inherit property in Jamaica, Land We Love.
Click here to post comments
Join in and write your own page! It's easy to do. How? Simply click here to return to JamaicaQuestions.
New!Talk To Me
Was the information helpful? Something needs changing? I welcome your feedback here.
Recommended For You ...
Other Great Articles You Might Have Missed
Please help me get the message out by sharing this article with your friends on social media (links below). Thnx ;-)
Also connect with My-Island-Jamaica.com on Social Media:
Facebook | Twitter | Instagram | Youtube
P.S. Didn't find exactly what you were looking for? Still need help?
Click Here to try our dependable and effective Site Search tool. It works!
Or, simply click here and here, to browse my library of over 500 questions and answers! Chances are someone already asked (and got an answer to) your question.
Top Of Page
About The Author
A patriotic Jamaican who adores his culture, Wellesley has been using this medium to share what he calls 'the uniqueness of Jamaica with the world' since April 2007.
To date, he serves over 9,300 unique readers / viewers per day.
efforts have earned him featured positions in local publications,
including the Jamaica Gleaner's Hospitality Jamaica, Carlong Publishers,
as well as recognition from numerous prestigious international agencies
He invites you to join his friends list and stay updated on all the latest. You are also invited to join his exclusive patron community.