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in Aruba
Real estate
acquisition in Aruba (the Caribbean Holland)
Aruba (or
the Caribbean Holland) is a small island, is near Venezuela. This island in 1986 left federation of the Antilles
(Netherlands) though to this day both of these islands are components of the
Kingdom of the Netherlands. Legislative,
political, and also administrative systems in a bigger measure correspond to
the Dutch original, having thus some differences in the sphere of civil law
that is caused by the offshore status of the country. On Aruba the financial system and
professional consulting an example for which are the Dutch systems (in
particular civil law) are very developed.
It is possible to call the island taxation (the most part of its
offshore activity) accepted, but it is all the same considerable. On Aruba there is the free zone which is
successfully attracting production companies, whose successful sales markets
consist both in the European community, and in the United States of America.
Aruba is a
demanded tourist direction which attracts with the sandy dunes, hilly coast,
thickets of exotic plants, the cactaceous fences, constantly blowing light
breezes thanks to what Aruba by right is considered Mecca of sailing. The purest sea water, lack of sharks, and
also surprising beauty coral reeves made this island an ideal place for the
most interesting occupations by windsurfing, and also scuba diving.
Let's give
some advantages of acquisition of real estate on the island of Aruba (except an
offshore zone and the most picturesque nature):
- steady rise in prices for the real estate,
varying in a year within 3-5%;
- the housing can freely be leased, thus such
kind of activity isn't taxed whereas brings in rather essential income;
-
having bought island real estate and having opened own firm the foreign
citizen can receive residence permit, and already through five legal stay here,
the foreigner can apply for obtaining nationality.
Considering
all above-mentioned advantages of this island, absolutely no wonder that
businessmen and simply tourists on Aruba with pleasure acquire real estate
especially as its cost in comparison with other islands of the Caribbean Sea is
very available. And for the last decade
real estate cost on Aruba grew for 30-40%, thus the tendency of growth doesn't
hand over the positions. So, the square
meter of real estate on the island costs about 1000-1500 c.u. whereas the square
meter of real estate of the class "luxury" will cost to the happy
owner only 4000 c.u.
Concerning
real estate acquisition by foreign citizens it should be noted that fact that
no restrictions on Aruba exist. Thus it is possible not only to buy many objects,
but also to take in so-called "long-term rent" which will cost
600-700 c.u. a year for apartments in new buildings. This rent is provided for
a period of 60 years.
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