Roatan Frequently Asked Questions

Where is Roatan?

Roatan is located in the Western Caribbean approximately 35 miles off the coast of Honduras. It is nearly 32 miles in length, and is 3 miles at its widest. A natural mountain ridge runs down the center of the Island reaching 700 feet at its highest point. The hillsides display a spectacular view of the reef and ocean on the north side, the reef and the mountains of mainland Honduras on the south side. The Island sits on a reef system second only in size to the Australian Great Barrier Reef. This reef begins off the coast of the Yucatan Peninsula of Mexico, continues past Belize, and then runs through the Bay Islands, nearly surrounding Roatan.

Is the Honduran government stable?

For the past 20 years, Honduras, a Republic, has elected a President every 4 years. The President appoints a 13 member cabinet which advises him in the governing of Honduras. The Legislative (Congress) and Judicial (Supreme Court) branches also aid the President in running the country. Honduras has two major political parties, both of whom support foreign investment.

What is the currency used?

The Lempira is the official Honduran currency. Currently, the exchange rate is U.S.$1 = 18 Lempiras. The U.S.$1, as well as major credit cards, are widely accepted by businesses, resorts, hotels and diving operations on Roatan.

What are the land ownership laws?

Foreigners may own land under a freehold title. Individuals may purchase property in their own name of up to 3/4 acres. Anything over 3/4 acres may be owned by individuals, or groups, who have formed a Honduran corporation. This is easily done with the help of a Honduran lawyer who will charge you somewhere between $1200 and $1500. Your lawyer will research your land document to be certain the title is clear, and that it is properly registered in the appropriate Municipality. After you have purchased your property, you will receive an Escritura Publica which is your legal deed. All legal documents are written in Spanish making them acceptable in the law courts of Honduras. It is very important to hire a reputable lawyer when dealing in property transactions for your protection as well as your peace of mind.

What about banking and Property Financing options?

Roatan offers you several banking options. Honduran banks are becoming computerized, and can now offer a variety of services including U.S. dollar accounts, credit cards, wire transactions and certificates of deposit, all at very competitive rates.

Financing a property purchase through a local financial institution, however, is a difficult process. With the average interest rates for real estate transactions in the 30% plus range, it doesn't make sense financially. There are many property owners and developers who will offer you owner financing over several years. You can expect an average interest rate of 10% with the owner holding the mortgage until the property has been paid for in full. Most people either use this method in buying on Roatan, or make loan arrangements in their home country.

What are the Residency Laws?

Visitors to the Bay Islands may remain up to 30 days without a visa. You may extend your stay for up to 6 months by simply visiting the Honduran Immigration Office in Coxen Hole on Roatan. Should you need longer, simply travel across the border for a day to be eligible to return for another 6 month stay.

To become a permanent resident is more involved and requires the services of a Honduran lawyer who will facilitate the application process for you. You will need to start the filing procedure by contacting the nearest Honduras Embassy or Consular Office in your home country. They will supply detailed information along with a list of the excellent incentives offered by Honduras.

What are the available Medical Facilities?

Roatan has two small hospitals along with several clinics. There is a decompression chamber for scuba divers at Anthony's Key Resort. Larger hospitals, providing a full range of services, may be found on the mainland in La Ceiba, San Pedro Sula and Tegucigalpa. Should an emergency occur, there is an air ambulance available which can fly you to the mainland in less than 30 minutes. Hospitalization costs are a fraction of what they are in the United States. Expect to pay about $10 for an appointment with a doctor, and nearly 40% less than you would expect to pay for prescriptions in the States.