St Maarten

St Maarten

Population 44,058
Area 34 km sq
Timezone GMT -4
Language English and Dutch
The Island of St Maarten is politically stable and unique in that it is the smallest landmass in the world shared by two different nations. This gives it great diversity. St Maarten in the North is part of the Netherlands and in the South, Saint Martin is a French overseas collectivity. Together they make up the smallest country in the world by land area.
St Maarten’s capital is Philipsburg, with colourful colonial style buildings and popular cruise stop. In addition to the natural beauty of lagoons and coastline, the numerous dive sites and options for water sports, there is duty free shopping, highly rated restaurants and nightlife. The region’s largest annual Regatta, the Heineken Regatta, is held here. The International airport, Princess Juliana International Airport, is famous for its low approach over the beach.
Property choice ranges from affordable apartments to luxury waterfront villas. There are very few restrictions when buying property in St Maarten as a foreigner. Visas are required to work or stay longer than the tourist allowance. It is possible to retire here, have a holiday home, earn rental income as you wish and there is a Residence by Investment scheme, which includes an investment in real estate of at least USD$500,000. Fees, terms & conditions apply.
The tenure tends to be freehold, recorded in the land registry, although some may be available on a Long Term Land Lease. A notary performs the legalities around the sale with transactions usually completing in around five to six weeks. The buyer pays the transfer tax and the notary fees. Allow around 10% on top of sale price to cover costs.
There are no property or capital gains taxes. Residents are taxed on their worldwide income while non-residents are taxed on income sourced in St Maartin, including income from property lets. There are exemptions and allowances.

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