Non-Belongers Land Holding License also known as NBLHL
Purchasers, who are not belongers or British Virgin Islanders, must obtain a Non-Belongers Land Holding License, (specific to property they are buying), from the BVI Government, in order to close on the purchase. You apply for this after you agree terms and price with the Seller.
The attorney who is assisting you in the purchase of the property, will also assist you with your NBLHL application and guide you to obtain all of the necessary documents, references, surveys etc. that are required to make the application. The attorney will follow through, answering any questions raised by the ministry and after many steps and about 6 months, obtain the NBLHL for you.
Undeveloped land: you must commit to spend $250,000 or more, specify details like how many bedrooms, baths, state if they plan to build a a pool, guest house or garage. The Government will specify a time usually 3 years for the construction to be completed. Sub-division of land is not permitted.
If you do not build what you said you would and sell your property, the penalty will be 40% of the sale price.
NBLHL application fee of $200.00 for each person named in the application and $300.00 for companies.
NBLHL cost to collect final document $600.00 for each person or company or director or shareholder.