Your number 1 partner when buying property abroad
On the northern coast of South America, sits the mainland and numerous islands of Venezuela, which are bordered to the north by the Caribbean, to the east by Guyana, to the south by Brazil and to the west by Columbia. A former Spanish colony, it has a land area of 916,445 km2 and a population of roughly 27 million, with the largest city Caracas being it’s capital and centre for commerce.
It is a country that found wealth mainly through the petroleum industry
and contains some of the largest oil and natural gas reserves in the world,
ranking as one of the world’s top 10 crude oil producers.
Although the mainland has seen some political unrest, the largest of the
offshore islands is Margarita Island, and is considered to be part of
the emerging Caribbean market, often referred to as the Pearl of the Caribbean.
Part of the Tropics and close to the equator, this Island Paradise has
all the benefits of being associated with the Caribbean but very importantly,
without being part of the hurricane belt.
The tourist industry is booming and the 72 white sand beaches and 300
km of spectacular coastline, bask in what is probably one of the most
perfect climates in the world. The 340 days of sunshine a year produce
an average daily temperature of 28ºC, with cooling breezes, even in the
hottest summer months, making it an ideal location holiday location and
one of the world’s hottest investment areas.
TOP 10 REASONS TO INVEST IN MARGARITA ISLAND
Property on Margarita Island is considered one of the world's hottest investments, with tourists flocking to this island getaway, and it has now replaced the Dominican Republic as the cheapest place to buy a Caribbean beach property.
Buying property on Margarita Island is extremely tax efficient, as it is a tax and duty free zone and the local dollar currency makes it particularly attractive to the European investor and holiday maker.
With consistently strong economic growth, the average GDP has seen increases of 11.3% per year between 2004 and 2007. Property is set to increase in value by no less than 20% per year, and rental yields are expected to follow suit, from the current 6-8%, to 10-12% in the next 1-2 years.
Visitor numbers reached 2.3 million in 2007 and a recent tourism survey indicated a shortage of 110,000 beds on the island making it a great rental market and with direct flights from the UK, Europe, USA, Canada, Mexico and South America, this is expected to increase further.
Venezuela shows consistently strong economic growth, being the 8th biggest oil producer in the world and this intense emerging market has seen major investment from world leading brands such as Hilton Hotels, Cartier, BMW, Tiffany's, Hard Rock Café and MacDonald's.
Non-residents can invest in property by obtaining an RIF (Registro de Información Fiscal), which your lawyer can obtain with the presentation of your passport or identification card.
Venezuela's political situation should not discourage investors, as Margarita Island is considered a "safe haven" and safety and security for tourists here are better than in many other worldwide cities and holiday regions, with tourists and foreign investors actually over protected under the government of President Chaves.
A new Formula One track is now being constructed on the island as the chosen location for the Venezuelan Grand Prix, with an 800 million dollar investment in this alone, further investment is being made to the Island’s infrastructure and hotel and tourist sectors.
Year round sunny temperatures of 28ºC, spectacular scenery, unspoilt white sandy beaches natural parks, water sports and a golf course are just a few of the reasons why people are smitten with Margarita Island and the security of enjoying the Caribbean without being in the hurricane belt, makes this exclusive Island an increasingly popular tourist destination for investment in Margarita Island.
Download your FREE Investors Guide Now
