Victor International Corporation is an internationally-respected luxury real estate developer with a commitment to creating unique
living environments that exist in sociological
and ecological harmony with the land. With
a 30-year history and a strong focus on creating one development at a time, Victor International has created more than 40 developments throughout its history, including the
Urban Land Institute’s Award of Excellence
winner, Bay Harbor, Michigan, Turtle Lake,
a premier low density private community in
Bloomfield Hills, Michigan.
The BVI economy is one of the most stable and prosperous in the Caribbean, with
an average annual GDP growth of 9.5%.
The economy is highly dependent on financial services and tourism. For over 550,000
registered companies, the BVI is a preferred
corporate domicile for international businesses in the Caribbean.
As a premier, upscale travel destination,
tourism also plays a vital role in the BVI
economy. Tourism accounts for about 45%
of national income. The BVI has the largest charter boat industry in the Caribbean
region. Its spectacular boating, coral reefs,
white sand beaches, and scenic seaside villages make the BVI an unmatched vacation
destination where guests are accommodated by world-class resorts brimming with
amenities and casual elegance.
When purchasing land or property in the
BVI, you will encounter the term “BVI Belonger”. BVI Belongers are those who are of
BVI parentage or birth who hold BVI citizenship and have automatic UK citizenship. All
overseas investors, including citizens of the
United Kingdom, require a Non-Belongers
Land Holding License (NBLHL) to purchase
property in the BVI.
You will find that taxes in the BVI are set at a
reasonable level and are comparatively easy
to understand. As a purchaser of property in
the BVI, you will pay:
• A one-time Stamp Duty at the rate of 12%
of the price or evaluation of the property.
• An annual Land Tax based on acreage:
$50 for the first half-acre (0.2 hectares)
or less; $150 for the next half-acre to one
acre (0.2 - 0.4 hectares); $50 for each additional acre (0.4 hectare).
• A House Tax levied annually at the rate of
1.5% of the assessed annual rental value.
For homeowners who are not ordinarily residents of the BVI, only income arising in the
BVI (such as holiday rental income) will be
taxable in the BVI. The tax is levied as a
hotel accommodation tax of 7%.
For more information on current real estate
projects and developments for sale visit
www.oilbay.com
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