Can I own real estate in Roatan if I am not a native to Honduras?
- Yes, you can own property in Roatan even if you are not a Honduran national. You can purchase up to ¾ acre in your individual name. If you want to own larger tracts of land, then you have to simply purchase a Honduran Corporation to hold your real estate.
What does a Honduran Corporation cost and how long does it take to get a corporation?
- A Honduran Corporation will cost approximately $1300 USD. A corporation is prepared by a local attorney and is typically returned with an RTN (revenue tax number) and the original corporate documents within approximately 10 to 15 days. Documents are sent to Tegucigalpa for final approval of the RTN before being returned to the requesting attorney.
How do I know I am buying land with a good title?
- The process for purchasing land is Honduras is very similar to those processes in the US. A title search is completed and a legal opinion is rendered as to the status of the title. Because of the legalities and formalities of land ownership, it is strongly suggested that a real estate professional and an attorney review the documents before any purchase is made. Property cannot be conveyed if the land does not have clear title. Be sure to have a professional check your purchases before signing a contract for purchase.
Is there title insurance available?
- Yes, you can get title insurance and also other insurance to cover your property for damages. There are several very good insurance agents on the island that would be happy to assist with your insurance needs.
Can I buy real estate with my IRA?
- Yes, you can purchase real estate with an IRA. There are some extra steps and conditions that must be followed to ensure you are protected. Contact your accountant to discuss the potential for purchasing foreign land through your IRA.
What if I still have questions?
Buying Real Estate on Roatan FAQ’s
