Trinidad & Tobago

Trinidad and Tobago

Trinidad and Tobago are the most southerly islands of the Windward Island chain near the coast of South America (less than 10 miles from Venezuela). Trinidad is the far larger of the two, vastly more populated and has a fairly thriving economy thanks to rich petroleum and natural gas deposits. Tobago is quiet, sparsely populated or developed and much more laid-back. Trinidad has more of a business feel to it and Tobago more of a vacation getaway. Few real tourist-oriented resorts are available on Trinidad and Tobago gets the lion's share of tourists, particularly those from Europe who seem to have discovered Tobago before much of North America has.

There is limited real estate demand here overall, but some have chosen to make it a home away from home, particularly if they are involved in the oil and gas industry. Of note, many Trinnies have been investing their new found oil money in nearby St Lucia and other Caribbean islands, which have more of a touristy allure and have more developments catering to resort living; golf courses, spas, great beaches, casinos or the like.

map of Trinidad and Tobago

Access to Trinidad (via Piarco International - POS) is of medium difficulty via air from the US and Canada, as well as points in South America. Tobago requires a short-hop flight from Trinidad. Currency is the Trinidadian dollar (though US dollars can be used in some locations) and the official language is English.

Government stamp duties are as follows:

Residential - homes under $850,000 TTD = $0; from $850,000 to $1,250,000 TTD = 3%; to $1,750,000 = 5%; and amounts above $1.75m TTD = 7.5%
Commercial and raw lands - 2% under $300,000; 5% between $300,000-400,000; and 7% above $400,000 TTD

Additional fees include a 1.5% or less fee to the lawyer who handles the transaction and a valuation charge of 0.25% of the value.