Investment

Fourleaf Holdings is held by a corporation, meaning the sale would involve a simple transfer of shares offering significant financial advantages.

Offset

Receive up to 100% corporation tax relief on your purchase as this is sold as a commercial expense saving you 19%

International purchase information

There are no restrictions on foreign buyers acquiring real estate in Jamaica and foreign buyers enjoy the same rights as Jamaican citizens.

Portfolio Management

Gross rental yields on apartments range from 9.67% to 13.24%, according to the Global Property Guide research
The gross rental yield is the rental return that a landlord will make on his property, before repairs, taxes, empties, and other costs. Tourism is Jamaica’s largest earner of foreign exchange and the second largest employer in the country. Stay-over visitor arrivals rose 9.1% to reach 1.87 million people in the first 9 months of 2019 compared to the same period last year, causing tourism revenues to surge 12% to US$2.39 billion.

“Tourism is growing at a phenomenal rate,” said Jamaica’s Minister of Tourism Edmund Bartlett. “The impact of this is seen in the growth of the small and medium enterprises across Jamaica.”

buying-process

BUYING PROCESS

Buying property in Jamaica is a relatively simple process, which typically involves the following steps:

  1. Begin your property search.
  2. Find your perfect property and make an offer.
  3. Once you have made an offer on a property and that offer has been accepted, the seller’s attorney will prepare an Agreement for Sale.
  4. Upon signing you will typically need to pay a deposit of 10% to 20% and the balance will then be paid in installments.
  5. Pay all required taxes and fees.
stamp-duty

STAMP DUTY

Total stamp duty amounts to JMD $5,000 which is split equally between buyer and seller – Buyer JMD $2,500; seller JMD $2,500.

taxe-transfer

TRANSFER TAX

There is also a Transfer Tax of 2% of the purchase price of the property, which is paid in its entirety by the seller.

legal-fees

LEGAL FEES

The fees are calculated for acting on your behalf in relation to the property transfer, for preparation of the Agreement for Sale and for preparing and reviewing all required documents typically amount to 2% to 3% of the purchase price plus 16.5% Consumption Tax.

registeration-fees

REGISTRATION FEE

A registration fee amounting to approximately 0.5% of the purchase price is payable to the Registrar of Titles.

This fee is also split equally between buyer and seller – Buyer 0.25%; seller 0.25%