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Saint Barthelemy is the Caribbean’s most exclusive island, as well as one of its most picturesque. Everyone wants to see and be noticed at this spot. While this French Caribbean gem is not large, it does feature a diverse variety of real estate. So, can you purchase a house there? Are you able to reside there?
Why Move To Saint Barthelemy
Saint Barthelemy is a world-class destination that attracts travellers from all over the world. The island has some of the Caribbean’s most gorgeous white sandy beaches, as well as unrivaled security, seclusion, exquisite cuisine, and a diverse selection of activities. This modest, elegant island, with a well-deserved reputation for quality, is the ideal vacation.
Residency Laws in Saint Barthelemy
Saint Barthelemy is a French island where anybody with a European passport can live and work. Tourists from the United States and Canada can remain for up to 90 days without a visa. In addition, US citizens can own a residence in Saint Barthelemy. Foreign purchasers are not subject to any limitations. Countries requiring French visas require those that indicate COLLECTIVITE DE SAINT BARTHELEMY ET SAINT MARTIN “valid for France except CTOM” or “DFA” (French Departments in the Americas). Before traveling, all visas must be obtained from the French Embassy.
Living Permanently in Saint Barthelemy versus Living Part-time
To become a resident of St Barths, you must spend at least 6 months of each year on the island for a period of five years. Once you become a resident in St Baths, you will be subject to a local tax law, which provides a variety of benefits. Residents in St Barths, for example, do not pay any income tax.
Average Cost of Purchasing a House in Saint Barthelemy
The average price for a secondary property is roughly 4.5 million euros.
Average Cost of Purchasing a Beachfront Condo in Saint Barthelemy
There are no condominiums on the beach. Beachfront villas are available, although they are scarce and expensive. People on St Barth are accustomed to driving to the beach from their hilltop villas because the island is so small. And if you change your mind along the way, Gouverneur Beach to St Jean Beach is only 5 minutes away!
Average Cost to Build a House in Saint Barthelemy
A new home costs roughly 8,000 euros per square meter to build. The structure is of exceptional quality. St Barth is home to outstanding architects, builders, and artisans who, owing to their local experience, can assist you with your project.
Real Estate Taxes in Saint Barthelemy
The Saint Barthelemy Tax Code is the code that applies to all properties on the island. There are no property taxes to pay each year. The one-time transfer tax is now 5% of the purchase price, to which the buyer must add various minor taxes and notary costs, for a total of around 6%.
A capital gains tax must be resolved with the local government in the event of a capital gain on a resale. While the current tax rate is 20%, it is crucial to note that a significant rebate is available, which increases over time based on the number of years the property has been owned. For instance, after 15 years of ownership for a secondary house and 10 years of ownership for a primary residence, there are no municipal capital gains taxes.
Social charges such as CSG and CRDS may be levied on capital gains depending on the seller’s residency.
Income Tax in Saint Barthelemy
Residents of Saint Barthelemy pay no income tax.
Healthcare in Saint Barthelemy
On the island, there is a tiny hospital. Patients must go to Martinique, Guadeloupe, the United States, or France to obtain particular care.
Saint Barthelemy for Children
There are three schools to select from, all of which teach the French curriculum. There are several activities to pick from for fun, including tennis, soccer, music, and the list goes on. Not to mention all the watersports and, of course, the beaches, which are their favorite playground!
Import Duty in Saint Barthelemy
Everything you bring to the island is subject to a 5% tax.
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