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Buying or selling apartments is one of the most common ways to make a profit. Such favorable offers today attract more and more wealthy owners of capital, who want to obtain more rights and freedoms. However, to find the right Caribbean island to buy real estate, it is necessary to analyze the market and consider many options. Here are some real estate business options for Caribbean residents.
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Investing in residential or non-residential properties can help those seeking to get Caribbean citizenship. Those wishing to obtain new civil rights should approach such a case especially responsibly. This will help them achieve their goal and not end up at a loss.
Caribbean Property Market Review
Caribbean investment property market is extremely favorable for wealthy investors. As noted by an expert on the investment program St. Lucia Acyr Jardim – representative of Imin Caribbean, its tangible advantages include:
- gentle real estate taxes;
- attractive tax incentives that allow the entrepreneur to make the most attractive purchase;
- the favorable location of the resort, thanks to which more and more travelers want to buy a second home here;
- the opportunity to use luxury residential real estate not only for vacation, but also for remote work.
All these advantages create many additional privileges to those wishing to buy a house or other apartments on the cozy shores of the island to get all the rights of a citizen of the exotic Caribbean country.
Types of Real Estate Business Ventures
The Caribbean islands differ significantly in their climatic conditions. This has an impact on the real estate available to investors and its cost. Choosing a location is a crucial step if you want the purchased apartments to bring you not only the benefits of a permanent place of residence, but also direct practical benefits.
Studying Caribbean real estate investment guide, it should be taken into account that the price per square meter will be significantly higher if the object is located in the central part of the state capital or directly on the territory of the business center. Today there are many goals pursued by participants of the business, engaged in the trade of property. Usually they buy such objects:
- for direct residence;
- for subsequent renting out;
- for parties and celebrations;
- for business purposes, which includes organizing offices or businesses.
For each case, you need to individually consider the interest paid to your agency, the peculiarities of the legislation, and the local credit policy.
Exotic islands are characterized by a special variety of offered real estate. Here at the disposal of buyers a sufficient number of options for wealthy business people. You can buy or rent:
- belonging to the elite segment of villas;
- boutique hotels of various classes;
- separate private islands or apartments especially for vacationers;
- houses or apartments in ordinary neighborhoods, belonging to the budget segment.
Thanks to such a wide range of choices, any participant of the second passport program can always make the best decision.
Caribbean real estate values vary quite a bit. While some apartments have an average price of over $200,000 it is also easy to find properties priced at less than $100,000. The price of luxury properties is very closely related to their location. For example, in the Dominican Republic you can easily find a luxury oceanfront villa with a beach nearby. It will cost you an average of 160-165 thousand dollars, while for a more modest house away from the coast you will have to give $130,000.
Opportunity to Obtain a Passport in Addition
Additional residency rights granted after the purchase of luxury real estate are among the basic conditions of the programs of exotic island states of the American continent. The requirements vary significantly depending on the country in which you want to obtain citizenship in this way. Most often you will be offered to buy a prestigious apartment in the amount of 100 to 400 thousand dollars and, in addition, to make a contribution to a charitable foundation. The terms of obtaining a passport after the execution of such a transaction may vary. However, they usually do not exceed 6-12 months. After several years, the investor has the right to sell the property purchased earlier, without losing the right to permanent residence in the country.
Change of residence programs bring huge benefits to wealthy exotic lovers. Buying luxury real estate, they get the right to stay in an exotic country for an unlimited period of time. Especially for them exciting trips to different countries with minimal restrictions. For example, the passport of a citizen of the Dominican Republic, St. Kitts and Nevis and other Caribbean countries gives the right for tourists to visit more than 150 countries without a visa.