Question 1

What is the Property Transfer Tax rate on real estate conveyances in Barbados?

Accepted Answer

Transfer tax is paid by the vendor (seller): 2.5% on shares or improved land/property value exceeding $150,000 BBD (first $150k exempt).

Question 2

What is the Stamp Duty rate on property transfers and legal deeds in Barbados?

Accepted Answer

Property conveyances attract a statutory Stamp Duty of $10 BBD per $1,000 BBD (1.0%) on the total transaction purchase price.

Question 3

What transfer tax rate applies to sales of unimproved vacant land?

Accepted Answer

Sales of unimproved vacant land are subject to a 2.5% transfer tax on the full gross purchase price without the $150,000 exemption.

Question 4

How are Bar Association legal fees regulated for real estate purchases in Barbados?

Accepted Answer

Attorneys follow the prescribed scale of legal charges, typically 1.5% to 2.5% of the transaction value for title search and deed conveyance.

Question 5

What documentation is required to record a conveyance deed at the Land Registry?

Accepted Answer

Recording requires the authentic conveyance deed, certificate of tax clearance from BRA, proof of stamp duty payment, and survey plot plan.

Closing Cost Head	Payable By	Statutory Rule	Amount (BBD)
Property Transfer Tax (PTT)	Vendor (Seller)	2.5% on value over BDS$150k	BDS$0.00
Stamp Duty	Vendor (Seller)	1.0% of gross consideration (BDS$10/k)	BDS$0.00
Attorney Legal Conveyance Fee	Buyer & Vendor	Bar Association standard scale	BDS$0.00
17.5% VAT on Legal Services	Buyer & Vendor	VAT on legal fees	BDS$0.00
Total Statutory Closing Charges			BDS$0.00

Barbados Property Transfer Tax & Stamp Duty Calculator

Real Estate Closing Costs Breakdown