The British Virgin Islands, has agreed to ease some restrictions on foreign real-estate buyers.

Qualified buyers willing to pay $2m to $25m for a lot in Oil Nut Bay, an 88-home, low-density development under construction in Virgin Gorda, will benefit from a new 90-day automatic approval for a landholder license. The government also is expanding the local airport and is providing better cellular service and high-speed wireless access for smart-phone use.

'The government realised, given the current economic climate and given that we live by tourism, that we want to have these investors come in,' says Clyde Lettsome, permanent secretary for the Ministry of Natural Resources and Labor.

Wall Street Journal