May 27, 2010
Dutch real estate laws and taxes
When purchasing a private residence or land in your own name, you will need your passport or other accepted identification. Companies are welcomed and if buying in a company name, the present articles of incorporation and a statement showing the company is in good standing. Residence is not required to own property on St. Maarten.
Personal or business accounts can be opened at local banks as off shore accounts are not restricted to local foreign exchange taxes. Dollars can be moved freely from one country to another.
There are three 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. 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. The responsibility of clear title is with the Notary, thus title insurance is not needed. Closings take place on St. Maarten in under 45 day unless state otherwise by the Sales and Purchase Agreement. There is a one-time government transfer tax of 4%, plus the Notary‘s fee with the total of both amounting to no more than 5% of the gross sale price. The Notarial costs are paid by Buyer’s.
- Deed Types; Long lease ,Fee simple and Private long lease deeds
- Approximately 5% transfer fees; includes notary fees and transfer tax
- No annual land taxes or property taxes
- No capital gains tax
- Offshore companies and investors friendly
- Building permits and zoning are routine and done by Vrom and the Kadaster
Sunshine Properties will be your competent , reliable partner for St Maarten Real estate, offshore investment,
and property development and management.
Address: 93 Welfare Road, Cole Bay, St. Maarten, N.A.
Tel: (599) 544 4498/9
Fax: (599) 544 4544
Toll Free No. 1-866-978-6229
Exclusive Member of Leading Estates of the World