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Why you should buy a House in St Barts

Posted by Estelle D on August 15, 2022
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St Barts offers some of the best luxury accommodations in the Caribbean. A popular investment destination, it is home to boutiques, restaurants, and charming huts marrying French culture with Caribbean beauty.

Several luxurious houses on St Barts allow buyers to live an upscale lifestyle while generating revenue. You might consider several other islands as well as Jamaica, such as Colombier, Corossol, Flamands, Jupiter Island, Guadalupe Island, Lorient, Lurin, and Toiny. This guide will explain the St Barts houses for sale, taxation, and the housing market.

1. An Open Island

A foreign investor does not have to pay a fee for St Barts houses for sale or movables in Saint Barth. It is also possible for Americans, Canadians, and Europeans to run local businesses—EU citizens wishing to stay in Saint Barth longer than 90 days do not need an extended visa.

why buy house st barth

2. Schooling in St Barts

In addition to two private schools, the Island also houses multiples primary and secondary schools. For the higher education, St Barts do not have universities. However, many families on St Barts send their children to universities outside the Island.

3. No Tax Exemption

The media portrays Saint Barths as a tax-free Caribbean island without income taxes. Despite this, it is entirely untrue. 

As a French overseas territory with specific characteristics and a high cost of living, Saint Barts has a special autonomous status. A Territorial Council is responsible for local affairs in taxation, urban planning, environmental law, transportation, and tourism. Despite these local laws, Saint Barths remains governed by French law. It is not possible to maintain bank secrecy, offshore banking is prohibited, and all professionals on the Island are expected to follow anti-laundering laws. 

Due to its good governance, no income tax has been needed. Registration taxes on property sales are the primary tax resources of the Island.

Check out villa for sale and land for sale in St Barts

4. Life’s aspects in St Barts

St Barts is a sailing and surfing paradise. On St Barts, ocean charters include boat charters in Gustavia, the Island’s capital. There are over 200 boutiques downtown offering everything from luxury cosmetics to local wear. 

There is a spa built into the rocks on the Island and superb cuisine at SandBar. Many of the Island’s hotels serve gourmet cuisine, including Hotel Le Sereno and Hotel Le Toiny. While hiking along the coast, you can see the Caribbean sea and volcanic rocks. Toiny beach, Grand Fond beach, Pointe Milou, Cul de Sac and Colombier beach all have hiking trails.

5. Multiculturalism

La Chorale de Bons Choeurs, the Island’s choir, was formed during Sweden’s colonial rule and gave panoramic views of the city. Gourmet restaurants serve French-style dishes and Creole dishes. Le Ti St Barth fuses a circus with a moulin rouge.

6. St Barth’s inheritance tax-free

A Saint Barths estate is tax-exempt for all of its rights, moveables, and occupied houses. Incorporation of a Saint Barths company, held through one or more foreign corporations, may be required before signing a purchase agreement. Banks will not open bank accounts if they cannot identify all beneficial owners, so ownership in Saint Barths should be in a simple shareholding chain.

7. Cost-effectiveness

The majority of British flights from the UK, United-States or France stop in Antigua or St Martin. The Island’s unregulated taxi fares make car rental a necessity. Travelers can reach St. Martin by ferry. If you are looking for home for sale in St Barts, contact Wimco Real Estate !

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