Your number 1 partner when buying property abroad
The 7,000 islands which Christopher Columbus named the West Indies is today collectively known as ‘The Caribbean’ and the Islands are distinctly different in many ways and stretch from Mexico to Venezuela. Many of them were once colonies of various European nations including France, UK, Spain and the Netherlands, and some of them remain sovereign states today, with each Island having a unique cultural identity shaped by the European colonialists, the African heritage of slaves, and the legacies of the native Indian tribes.
Many of the larger and more popular Islands are already favourite tourist
destinations, with an extraordinary blend of carefree living, laid back
charm and modern convenience, and this is just one of the factors that
has seen a huge interest in property investment in the region, with Dominican
Republic being one of the Islands leading the way as one of the most exciting
ho spots.
It is always a good time to visit the Caribbean, as the region enjoys
great temperatures and cool breezes all year round, and whether you are
looking for tropical rain forests; still, glassy lagoons; or wind and
waves, you can easily find weather in the Caribbean to suit your taste.
Contrary to popular belief, the chances of any single Island being hit
significantly by extreme weather at any given time are very slim. Direct
hits by major storms are actually very rare and more often than not, Caribbean
Islands will only get the heavy rains and rough weather that come on the
outskirts of a hurricane.
TOP TEN REASONS TO INVEST IN THE CARIBBEAN
A unique collection of tropical Islands and continental countries that border along the turquoise waters of the Caribbean Sea. Although each country has its own separate governmental system, it is considered extremely stable, many Islands with independent democracies, some members of the British Commonwealth and a few are considered territories of other countries such as the United States. This stability found within the region is very encouraging for investors and holidaymakers alike.
Most Caribbean countries encourage and welcome foreign investment and the individual governments have made it easy for investors to purchase property with favourable property laws, simple immigration regulations, and on the English-speaking Islands they are based on UK laws and regulations, providing stability, familiarity and easy understanding of the processes in place.nsidered stable, driven heavily by tourism, which is sustained and constantly growing. The Dominican government has extended its offer to overseas property investors by offering exemptions on capital gains tax, income and property purchase taxes for ten years. Although a small country, the Dominican Republic’s economy is considered quite solid and growing considerable with 2006 recording 11.3% GDP.
The Caribbean’s close links to Europe, mean that some of the Islands carry a distinctly British flavour whilst others have been historically influenced by Spanish, Dutch and French cultures and language. This lends to a sense of familiarity and helps investors feel confident in their purchases, whilst making holidaymakers feel right at home.
From Belize to the Dominican Republic, many of the small Islands are of strong interest to investors, holidaymakers and expatriates, with investors assured of a strong, sustained and growing tourism industry with the World Travel & Tourism Council, predicting good annual growth rates: Barbados is expected to see growth of 4.1% per annum through the year 2017; Belize, 3.8%; the Dominican Republic, 3.4%; Jamaica 2.7% and Antigua, 3.8%. This is encouraging for strong buy-to-let yields and maximum resale values being achieved.
The exchange rate with the Euro and Sterling does vary from country to country, but the British investors in particular, typically find their money spends incredibly well in the Caribbean region, being heavily influenced by the US Dollar which bodes well for investors looking for good returns.
The Dominican Republic has been named the ‘Number 1 Caribbean Destination’ by the World Tourism Organisation and has a strategic government plan in place to increase tourism arrivals to 5 million over the next 4 years. The country has enjoyed a stable democracy for several decades and its forward-thinking economic programmes and strong ties with other countries such as America and the UK help inspire investor and holidaymaker confidence in this destination. As tourism increases, the relations are growing stronger and a sign of this is the reopening of the British Embassy in 1995. Compared to other Caribbean Islands the Dominican is very competitively priced and the government has set out to attract upmarket tourism by lifting all restrictions on foreigners purchasing property and offering great tax incentives as well as spending millions implementing a modern infrastructure.Although the Dominican Republic has a sub-tropical climate like the rest of the Caribbean, it also benefits from "micro climates" making it a very diverse country with mountains, lakes, waterfalls and rivers. The average temperature the whole year round is between 18°C and 27°C and it is said that the Dominican Republic is lucky enoough to know only one season: summer.
Low-cost flights and favorable entry requirements enable Europeans and Americans to travel to the Caribbean easily and cheaply with regular year round flights from most major cities. Flying time from Europe is 8 hours, whilst American’s enjoy short hop-overs of only 3 hours from New York and 2 hours from Miami, making it a popular location for Americans to buy their second homes. Flights direct to the Dominican Republic are easily accessible from most major European airports and there are 9 international airports on the Island.
The Caribbean really is picture postcard perfect, with a diverse landscape offering palm fringed white sandy beaches and clear turquoise sea, lush rainforests, mountains, rivers and waterfalls, volcanic craters, hills, marshland, caves and more. The climate varies throughout the region, but with 320 days of sunshine a year and warm sea breezes , the weather is one of the biggest draws for holiday makers all year round. This paradise offers, great weather, stunning landscapes, deserted white sandy beaches, crystal clear seas, historic towns and a vibrant, infectious culture – the Caribbean really does have it all.
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