There are very few restrictions when investing in St. Maarten Real Estate, in the Caribbean. If buying your St. Maarten villa, condo, villa lot in your own name, you must present your passport or other pictured identification. If buying in a company name, you must present articles of incorporation and a statement showing the company is in good standing. You need not become a resident to own property on St. Maarten or St. Martin. There is no limit to the amount of property one wishes to own on the island.
Personal or business accounts can be opened at local banks as off shore accounts not restricted to local foreign exchange taxes. Dollars can be moved freely from one country to another.
There are three basic types of deed transfers for real estate on St. Maarten: fee simple, government long lease, and private long lease. All deed types give registered ownership and are recorded in the Land Surveyor’s Office . Properties in protected subdivisions are fee simple (same as in U.S.). Properties are always closed using the European system where the Civil Law Notary, appointed by the Queen of Holland is responsible by law, to both parties and is obligated to do a proper title search to insure a clear title transfer.
A personal attorney is not necessary. The responsibility of clear title is with the Civil Law Notary, thus title insurance is not needed. Closings take place on the island of St. Maarten (Dutch side) in English within the time frame set by the Sales and Purchase Agreement. Closing costs are minimal. There is a one-time government transfer tax of 4%, plus the Notary's fee with the total of both amounting to approximately 5.5% of the gross sale price. These costs are for the Buyer's account.
We can provide referrals to qualified architects, investment counselors and contractors.
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