Condominium Fees: In accordance with the Condominium Act, you will be required to pay your apportionment of the common or shared expenses of the building and grounds such as maintenance, insurance and repairs. These may be in addition to any communal assessment and membership fees.
Communal Assessment Fees: Some Lifestyle resorts may charge you a contribution towards the maintenance and management of the estate.
Membership Fees: Some lifestyle resorts offer ‘members only’ facilities which are charged separately such as golf, tennis, gyms, beach facilities and moorings.
Annual Company Registration Fees: Advice should be sought from an independent tax advisor or accountant. Other fees may also be applicable.
Corporation Tax: If you become Directors of a Company which owns shares in the property, you will be required to file annual returns and pay tax under the Companies Act.
Property Management Service: If you prefer assistance with managing the obligation of homeownership aboard or multiply properties.
Tourism Levy: Tax on the income from all short-term rental bookings (less than 6 months). The current rate is 10%. Levies are collected from the guest and passed on to the government by filing returns every other month.
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Land Tax: All property owners are required to pay annual tax based on the value of the land and any structures thereon.
0.0%- land valued up to $150,000
0.1%- on the excess of the improved value greater than $150,000 but not exceeding $450,000
0.7%- on the excess of the improved value greater than $450,000 but not exceeding $850,000
1.0%- on the excess of the improved value greater than $850,000
Property insurance: This will vary between US $1.75 to US $3.00 per US $1,000
Contents insurance: This can range between US $2.00 to US $3.00 per US $1,000
Property Maintenance & Repairs: Regular maintenance is necessary, to prevent cost repairs and maintenance, especially in a tropical climate. This will be determined by various factors such as the structural fabric, architectural features, environmental surroundings of the property and; the frequency and type of occupancy.
Electricity – Barbados Light & Power
Water – Barbados Water Authority
Telephone Land Line
Internet
Cable TV
Domestic Staff
Pool Maintenance
Garden Maintenance
Servicing air-conditioning units and appliances
Cleaning sundries and household supplies
Condominium Fees: In accordance with the Condominium Act, you will be required to pay your apportionment of the common or shared expenses of the building and grounds such as maintenance, insurance and repairs. These may be in addition to any communal assessment and membership fees.
Communal Assessment Fees: Some Lifestyle resorts may charge you a contribution towards the maintenance and management of the estate.
Membership Fees: Some lifestyle resorts offer ‘members only’ facilities which are charged separately such as golf, tennis, gyms, beach facilities and moorings.
Annual Company Registration Fees: Advice should be sought from an independent tax advisor or accountant. Other fees may also be applicable.
Corporation Tax: If you become Directors of a Company which owns shares in the property, you will be required to file annual returns and pay tax under the Companies Act.
Property Management Service: If you prefer assistance with managing the obligation of homeownership aboard or multiply properties.
Tourism Levy: Tax on the income from all short-term rental bookings (less than 6 months). The current rate is 10%. Levies are collected from the guest and passed on to the government by filing returns every other month.