Trinidad is an island country located 11 km (6.8 mi) off the northeastern coast of Venezuela. The capital city is Port-of-Spain.
It's area is 4,768 km2 (1,841 sq mi) making Trinidad the fifth largest island in the West Indies.
Trinidad and Tobago was granted self-governance in 1958 and independence from the United Kingdom in 1962.
Citizens of the USA, Canada, UK, EU countries, and most Commonwealth & South American countries can stay on vacation in Trinidad for 3 months on a tourist visa which is automatically given on arrival.
Visitors wanting to stay longer than one month can apply for an extension.
Individuals who are retired from work, financially independent and a person of good character can apply for Trinidad permanent residence.
Individuals who have permanent residency and have resided in Trinidad for 8 years or more are eligible to apply for citizenship by naturalization.
There are no restrictions on foreign buyers acquiring real estate in Trinidad. The Government of Trinidad welcomes investment from overseas investors.
Search for your perfect property.
Make an offer to purchase the property with the Real Estate Agent.
Engage a lawyer to perform a title search and land survey.
After signing the Agreement for Sale, pay a 10% deposit.
On settlement pay all taxes and fees.
Pay the balance of the purchase amount.
Please seek the advice of a local lawyer. Legal fees depend on the complexity of the transaction and the amount of work performed.
Transfer tax ranges from 0% to 7.5% depending on the value of the property.
Property taxes are 3% of the property's Annual Rental Value. The rental value is a calculation of the rent the property will obtain on the open market.
In Trinidad, long-term capital gains on residential property are not subject to income tax. Gains made within 12 months will be subject to tax.
No inheritance or gift taxes are levied in Trinidad and Tobago.
Personal income tax under TT$72,000 is tax-free. Income between TT$72,000 and TT$1million is taxed at 25%. Income over TT$1million is taxed at 30%.
Trinidad permits dual citizenship.