FREQUENTLY ASKED QUESTIONS
When taking advantage of the excellent investment opportunities with the ever increasing popularity of Roatan, as a prime Caribbean destination, requires making well informed decisions. We are happy to help you make sound decisions. The following are a few typical questions asked by prospective buyers. We are happy to answer any questions you may have by clicking here:
Q - Can a Foreigner actually own property in the Bay Islands?
A - Yes any foreigner has been able to own property in Honduras since 1991.
Q - How do you form a Honduran Corporation?
A - This is a simple process which can be accomplished by a local attorney, costs vary. If you do not speak Spanish, an English speaking lawyer is essential as all documents have to be written in Spanish. By forming this corporation you are entitled to all the rights of a Honduran citizen regarding ownership of your property.
Q - Is Roatan safe to live on?
A - In general, Roatan is a safe island, however, petty theft can be an issue, like anywhere else in the world. It's always best to be aware of your surroundings, especially tourist areas, where you are most likely to leave items of value in the open. Common sense is always best!
Q - What is the ‘cost of living’ in the Bay Islands?
A - The cost of living varies depending on your lifestyle and needed comfots. If you live a modest life, you can easily live on a budget of $1500 per month, if you live in modest island style home. However, dining out, and partaking in social outtings can significantly increase your cost of living, as well as your style of home. Monthly budgets can inflate to $2500+ per month. It really depends on your lifestyle and property maintenance requirements.
Q - How does the price of Gasoline compare to purchasing in the United States?
A- It is slightly higher than the US, but it is comparable. Most vehicles on Roatan use diesel versus gasoline which is cheaper than the gasoline.
Q - Do I need Residency to have a Property in Honduras?
A - You do not need a legal Residency to visit here or be in the country for 90 days or less, (extensions can be obtained for additional 30 day periods). If you wish to move here or stay for extended periods of time it would be advisable.
Q - Can I set up a Bank Account there on the island?
A - Yes, every bank on the island has slightly different requirements, however, your passport and a bill from your residence will suffice to open an account.
Q - What is internet like on the island & can I call Internationally at a reasonable price?
A - There are several internet providers on the island, with varying options to suit your needs. You can chose Tigo's USB modems that plug into your laptop, computer, or wifi modem, which is a very popular option. There are also a few high speed companies that offer you large packages, for example if you work from home, online. For phone service, most opt for the prepaid option, with recharge cards. It gives you more flexibility in usage, and you are able to call North AMERICA for a minimal fee. Skype and other new app's like facetime have become the best communication options, technology is ever changing and Roatan does it's best to keep up.
Q - The Language and Currency?
A - Though the official language of Honduras is Spanish, the most common language spoken on Roatan is Creole English. The official currency is the Lempira, but U.S. dollars are used just as frequently for all transactions. Credit/Debit ATM cards are also accepted at bigger businesses.
Q - What is the Electricity like? And is it reliable?
A - Roatan has 110-volt electricity so a converter is not needed for U.S. appliances, however, you might consider a voltage regulator or surge protector for any delicate electronics. The electricity has become much more reliable over the years, however, we still have the highest electricity costs in the Caribbean. Average monthly bill (non-air conditioned home), is $350 and up.
Q - What is the Year-round Climate
A - Roatan has a typical Carribean climate, and is very humid. The rainy season is from mid October to December. The median temperature is 83°F/30°C. Keep this in mind when planning your clothing. Items that dry easily when hung are best.
Q- Is it difficult to purchase property on Roatan? What is the process like?
A - Purchasing property as a vacation investment, or private retirement home or condo, buyers receive a ‘Title’ registered with the National Government within about 120 days after closing, with copies of the closing documents generated immediately. Closing documents in this country are generated by a Honduran Attorney, witnessed by a ‘Notary’. Our team has many years experience and are here to help make your move to Roatan as seamless as possible!