Tips for Buying Investment Properties in St Maarten/Sint Martin
Today we share tips about buying investment properties in “The friendly Island” St Maarten/Sint Martin. (French: Saint-Martin; Dutch: Sint Maarten) is an island in the northeast Caribbean, approximately 300 km (190 mi) east of Puerto Rico. The 87 square kilometers (34 sq mi) island is divided roughly 61/39 between France (53 square kilometers (20 sq mi)) and the Kingdom of Netherland (34 square kilometers (13 sq mi)the two parts are roughly equal in population. One Unique Island with two Sovereign Nations.
The economy of St. Maarten/Sint Martin is based almost entirely on tourism. It is estimated that 85% of all employment is related directly and indirectly to tourism. St. Maarten has one of the highest per-capita incomes in the Caribbean.Having been divided between the French and the Dutch since 1648.This 37 square mile island has an exceptionally cosmopolitan and diverse feel. A jet set crowd, which makes its way to St Martin / St Maarten via luxury yachts and private jets, dines on gourmet European cuisine and enjoys the island’s buzzing nightlife, 37 spectacular beaches and island-wide duty-free shopping. . St Maarten/ Sint Martin is an established luxury destination with buzzing nightlife and entertainment scene. French / Dutch territory with stable political and economic climate and no property or capital gains taxes (St Maarten).
Where are the best places to invest in real estate in St Maarten/Sint Martin?Real estate for sale in St Martin / St Maarten appeals to both European and North American buyers and includes beachfront and hillside luxury homes, as well as condos in marina resorts. Popular areas for foreign investors are Cupecoy beach, Oyster pond, Maho Bay, Simpson bay, Phillipsburg, Belair and Marigot.
Can foreign buyers acquire property in St Maarten/Sint Martin?
As in France and Netherlands, there are no restrictions on foreign ownership of properties in St. Maarten and Sint Martin. .
What is the process for buying property in Sint Martin/St Maarten
On both French St Martin and Dutch St Maarten real estate can be purchased fee simple or via long lease (government or private). Either way, buyers are responsible for paying a transfer tax. On French St Maarten transfer fees amount to 10%, whereas on Dutch St Maarten the transfer tax is 4% for fee simple deeds and 6% for long lease deeds. On both sides a notary is responsible for conducting a title search. The buyer is responsible for notary fees. On French St Martin there is a 33.5% capital gains tax.
Courtesy of Global Property Sint Martin (FRENCH)
|Registration Fees||0.60% – 4.89%||buyer|
|Notary Fees||3% – 10% (+ 19.6% VAT)||buyer|
|Land Registry Salary||0.60%||buyer|
|Real Estate Agent’s Fee||1.50% – 5% (+ 19.6% VAT)
1.50% – 5% (+ 19.6% VAT)
|Costs paid by buyer||6.58% – 23.43%|
|Costs paid by seller||1.80% – 5.98%|
|TRANSACTION COSTS||8.38% – 29.41%|
Courtesy of Global Property St Maarten (DUTCH)
|Notary Costs||1.0% – 2.0%||buyer|
|Registration Tax||ANG 5.0 per document||buyer|
|Costs paid by buyer||5.0% – 6.0%|
|Costs paid by seller||4.0%|
|TRANSACTION COSTS||9.0% – 10.0%|
How can I get to St Maarten/Sint Martin Are there direct flights?
St Maarten’s Princess Juliana International Airport is one of the region’s major hubs. From the USA, there are numerous direct flights from various cities, including Atlanta (Delta), Charlotte and Philadelphia (US Airways), Miami, New York and San Juan (American Airlines), Boston (JetBlue), Chicago and Washington (United Airlines). From Canada, fly to the USA and take a connecting or flight or, during high season, West Jet operates direct flights from Toronto. From Europe, Air France and KLM operate direct flights to St Maarten. From the Caribbean, LIAT operates flights from most islands and Insel Air operates flights from the ABC Islands.