A clear blue sea off white coral shores, rays of bright sunlight penetrating palm leaves, a gentle tropical breeze, a glass of rum punch, ice cubes and a slice of fragrant pineapple ... See and feel it all while relaxing in a hammock after a leisurely game of golf or a refreshing morning bathing - isn't this your "island" dream? Or are your dreams associated with low taxes, minimal risks and maximum returns on real estate investments? In the Caribbean, you can realize both of these desires at once. In total, the Caribbean archipelago includes more than 1200 islands, which are divided between 24 countries. Each country has its own laws on real estate, its own taxation, mostly borrowed from British, French, Dutch, Spanish and American law, but with numerous local characteristics. The length of the archipelago is more than 2,400 km, which is comparable to the distance from Moscow to Paris, and the islands are located in two different time zones. And yet there are more similarities between them than differences. All these are small sunny states in the tropical sea, with low taxation or no taxes at all, which is attractive for foreign investment in real estate. Another positive factor is the limited amount of land on the coast or a short distance from the sea, which leads to an inevitable increase in prices. Note that foreign property owners usually live here only in winter - at the best time of the year. Of all the islands, we have selected four located in the southeastern part of the archipelago. These are Barbados, Saint Lucia, Tobago and Antigua. All of them were once British colonies, have a similar climate and are considered true pearls of the Caribbean. Barbados - next to the stars Barbados is the easternmost of all the Caribbean islands. Its dimensions are 34 km by 22 km. Mainly flat, it has a highest point of 340 m (Mount Hillaby). In 1625 the British settled on the island, now the local population is 270,000 people. The official language of Barbados is English, there is a good free education system, so all the inhabitants of the island are literate and qualified. The climate is close to ideal. The average air temperature rarely exceeds 30 ° C and almost never falls below 23 ° C. Although heavy showers are frequent in Barbados during the rainy season from July to November, hurricanes rarely visit the island. Already from the 20s. of the last century, Barbados was a vacation spot for the rich and famous and still retains this reputation. It is here that the best restaurants in the Caribbean, the most exciting nightlife, excellent conditions for sports. And the best neighbors are also here. When buying a property, you can count on excellent quality and exceptional investment security. But don't expect to find cheap deals here. For example, you can buy a one-bedroom apartment in the popular resort of Sugar Hill and become a neighbor of Cliff Richard for $ 425,000. Two-three-bedroom apartments on the coast sell for between $ 850,000 and $ 1.2 million. As for the villas, then you won't find a three-bedroom mansion on the coast for less than $ 3 million. Barbados is especially attractive for those who have no problems with the purchase budget. Here you can buy the most beautiful properties that have huge plots of land and have stunning views. Cost - from $ 10 million. The process of buying real estate in Barbados is only slightly different from the scheme adopted in England. Once the price has been agreed upon, a lawyer must be hired to check the seller's ownership and revise all required documents, and a 10% deposit must be paid. If everything is in order, the seller's lawyer draws up a sales contract, and after signing it, the buyer pays the rest of the value of the property. Before buying, it makes sense to consult a good specialist about the possibility of creating an offshore company and registering real estate in it. This can provide significant tax benefits. If you are purchasing a piece of land or intending to rebuild your property, then you need to obtain planning permission - this can take from two to six months. Local mortgage loans have rather high interest rates - about 12-14%, are issued for a period of up to 15 years, and as a rule, they can finance no more than 60% of the value of real estate. Saint Lucia - for walking and diving Saint Lucia is located in the middle of the Caribbean island chain. Its territory is 43 by 22 km, on the east coast of the island is washed by the Atlantic Ocean, while to the west there is a calmer Caribbean Sea with excellent opportunities for scuba diving. The island is mountainous, its highest point, Mount Gimi, rises more than 900 m above sea level. It is covered with moist forests, perfect for walking. The rainy season lasts from May to August, and hurricanes are likely to occur. The first European inhabitant of Saint Lucia was the bloodthirsty pirate Franois le Clair, nicknamed the Wooden Leg, who built a hut here in the 1550s. The Dutch, British, and French all sought to subjugate the island, so Saint Lucia was a battlefield for a long time until the British secured ownership in 1814. This little story explains why many of the 170,000 locals speak Creole, a language derived from French, even though English is the official language. Compared to Barbados, Saint Lucia is not fashionable enough, so property prices are lower here. For less than $ 500,000, it is quite possible to buy a villa with three bedrooms and a pool, however, a similar offer on the first line from the sea will cost about $ 2 million. The purchase process is almost the same as in Barbados, but a foreigner must obtain permission to own land. which takes at least three months Antigua - a sailor's dream Antigua - one of the Windward Islands - is about 22 km long and 17 km wide. Its territory is hilly, and the highest point - Boggy Peak in the south-west of the island - has a height of 402 m. The largest city of St. John's is the capital of the state of Antigua and Barbuda. Located 48 km to the north, the flat coral island of Barbuda is about half the size of Antigua. It is one of the driest islands in the Caribbean, with only 115 cm of precipitation per year and average midday temperatures of around 24 ° C in winter and 30 ° C in summer. The British colony in Antigua was founded by Admiral Nelson in 1784 and was used primarily as a naval base. Today, Antigua's location, coupled with superb harbors, makes it the center of yachting in the Caribbean. It is safe to say that buyers choose this island for investment mainly for sailing. The service industry is less developed here than in most other Caribbean islands, although some large-scale resort projects are gradually improving the situation. Yet in order to truly enjoy life in Antigua, you need to understand and love the charm of Third World countries. Prices in Antigua are almost the same as in Saint Lucia. Depending on the location and infrastructure, a three-bedroom house will cost from $ 350,000 to $ 1 million or more. As in Saint Lucia, non-residents must obtain permission to own land. Virgin Tobago Tobago is a thin, hilly strip of land, only 40 km long and 14 km wide. Tobago claims to be the last unspoiled Caribbean island - it is here that the oldest protected rainforest in the region is located. The dry season lasts here from January to May, and the rainy season lasts from June to December, and at the end of September the showers stop for several weeks. Here, off the coast of Venezuela, hurricanes are rare. A good quality, four-bedroom house on the coast costs about $ 1 million here. Non-residents only need permission to purchase more than five acres (about 2 hectares) of land. At the same time, the purchase of real estate does not give the right to visa-free entry into the country.
Caribbean resorts
01.07.2006
Author: Peter MCBRIDE
119
Hardly anyone need to explain what exactly is so attractive about buying property in the Caribbean. If you can imagine heaven on earth it's the Caribbean. But when dreams start to become a reality, the buyers face the problem of choice - a lot of Islands, objects even more. How to get out of this predicament?
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