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Overseas buyers searching for luxury property in the Caribbean should take a good look at Tobago. This small island has so many benefit

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

s that overseas investors have been buying land in Tobago at an alarming rate. The Trinidad and Tobago Government have now started a li

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ensing system to monitor international buyers so that the small island does not become so expensive that local people could not buy pro

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

erty on their island. So why is Tobago so popular?

Tobago is still an unspoilt place of natural beauty eco tourism alongside beach hol

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

iday is part of its attraction. Real estate in Tobago is still relatively inexpensive compared to islands such as Barbados for example.

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

The tropical climate, easy access and strong, well-rounded economy combine to make it one of the best investments in the Caribbean.

Th

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

process of buying land and property in Trinidad and Tobago is straightforward and similar to many other Caribbean nations. Foreigners

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

and foreign companies may purchase up to one acre of residential land and/or up to five acres of commercial land without applying for a

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

license. Any purchases over these amounts and you must apply for an Alien Landholder License through the government.

When you find you

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

desired property and agree on terms with the seller, you both sign a Sales Agreement. The buyer pays a 10% deposit to be held in escro

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

and the contract is binding on both parties. Traditionally the final payment is paid on closing 90 days from the signing of the Sales

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

Agreement to allow time for all the necessary searches and records work.

After signing the Sales Agreement, the buyer instructs a loca

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

lawyer to perform a title search. At the same time, your lawyer should conduct a record search from the utilities and Water and Sewage

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

Authority (WASA) and make sure all taxes are paid. Getting clearance from WASA is probably the longest part of this process, and can ta

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

ke as long as six weeks. It will also cost TT$ 575 for the certificate. Once the title of the property is verified and all records chec

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ed, you may proceed to closing.

Closing Fees include a Stamp Duty, any legal fees, typically 1-2%, and insurance costs for the dwellin

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

. A Memorandum of Stamp Duty should go to the Board of Inland Revenue for assessment of Stamp Duty prior to closing so you will know ho

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

w much to pay. After closing you take the memorandum to the Board of Inland Revenue and pay the duty. Upon payment, the Memorandum of T

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ansfer is stamped and you can now present this for registration with the Land Registry.

The Land Registry prepares a Return of Ownersh

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

p form, showing change in ownership for paying property taxes. This document is filed with the District Revenue Office and you are done

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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