St. Maarten Real Estate Laws, Taxes and Island Information
Summary - Dutch St. Maarten Real Estate Laws, Taxes and Island Information
If buying private residence or 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.
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. 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 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 no more than 6% of the gross sale price. These costs are the Buyer’s responsibility.
- Long lease and fee simple deeds.
- Approximately 6% transfer fees; includes notary stamp and all fees.
- No land taxes what so ever.
- No capital gains tax.
- Offshore companies and investors welcome.
- Building permits and zoning are routine.
Island Information for Dutch St. Maarten and French St. Martin
St. Maarten/St. Martin is the smallest island in the world to be divided
between two different nations. The island is split between the Dutch and French, and the
two cultures live very peacefully together on 37 square miles. In fact, the island's inhabitants
are quite proud of their nearly 350-year history of peaceful co-existence. The island's
two sides offer you the culture and lifestyle of both the Dutch and the French. There are
approximately 35,000 inhabitants on each side of the island, and 82 nationalities are
represented. Located 18.5 North and 63.5 West, in the heart of the Caribbean, this small island
dual nation has been a prestigious tourist haven for years. The capital of the Dutch side
is Philipsburg and the capital of the French side is Marigot.
Both sides of the island have their own official language (French and Dutch)
but English is spoken everywhere. Both sides have their own currency ( French Franc and
Netherlands Antilles Guilder), but U.S. Dollars are accepted everywhere. It is very easy
to exchange currencies in banks, hotels, and "Exchange Desks. The island is on Atlantic
time, one hour ahead of eastern standard time in the US. The climate is tropical and constant
all year long, the average temperature is around 80 degrees (F).
St. Maarten/St. Martin has 37 beaches that are secluded areas of beautiful
white sand. All kinds of water sports are available including; windsurfing, swimming,
sailing, jet skiing, diving and snorkeling. Half-day or full-day sailing excursions to
undeveloped beaches nearby are also available.
St. Maarten's/St. Martin's climate and natural beauty make it a perfect place for
other sports and recreation. Golf, tennis, biking, hiking and horseback riding are other
activities that allow you to explore the island's natural splendor.
St. Maarten/St. Martin has the best of nightlife on both sides of the island.
Casinos (on the Dutch side), nightclubs and dance bars are just some of the
attractions available on the island. In addition, there are literally hundreds of fine
restaurants to choose from.
REMAX ISLAND PROPERTIES WILL BE THERE FROM
THE BEGINNING OF EACH DEAL TO THE CLOSING. WE SPECIALIZE IN ST. MAARTEN REAL
ESTATE, OFFSHORE INVESTMENT, PROPERTY MANAGEMENT AND PROPERTY
DEVELOPMENT. CALL OR E-MAIL FOR MORE INFORMATION.
Main Office: 011 (599)544-4062
Or
1-800-STMARTIN
info@remaxislandproperties.com
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