St Maarten real estate market and opportunities have never been better. There are very few restrictions when purchasing real estate in St Maarten. Anyone can own a property on St Maarten island.
Furthermore, there are no annual property taxes, no personal capital gains taxes and Sint Maarten (Dutch side) is a duty free port making the owning of real estate here all the more appealing.
St Maarten Real estate transactions are always closed using the European system where the Civil Law Notary (appointed by the queen on the Dutch side or by the Interior Minister on the French side) 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. All Notaries have the same legal backgroung as lawyers which means a personal attorney is not necessary. St Maarten real estate closings are in English within the time frame set by the purchase agreement. St Martin (French side) closing are in French.
On St Maarten (Dutch side) closing costs are minimal and are the buyer’s responsibility. Closing costs include a one time government transfer tax, plus the Notary’s fee with the total of both amounting to approximately 5-6% of the sale price.
There are three basic types of deed transfers for St Maarten real estate transactions :
– fee simple (Same as in the US)
– Government long lease
– Private long lease.
You may purchase your St Maarten real estate property in your own name or in the name of a business. Personal or business accounts can be opened at local banks. All in all, the process of purchasing St Maarten real estate is quite simple.
The French side of St Martin real estate market is somewhat different than Dutch side of the island. In St Martin, real estate transactions are always handled by the Notary. The Notary is responsible for preparing the final deed and obtaining all relevant searches about the property. The French notary must check that each party has full capacity or the right either to sell or purchase property. Like on the Dutch side of St Maarten, the French notary is responsible, by law, to both parties and is obligated to do a proper title search to insure a clear title transfer. A personal attorney is not necessary.
The greatest difference from St Maarten the Dutch side is that St Martin the French side has an annual real estate tax, annual living taxes and substantial capital gains taxes. Despite that the St Martin real estate market has many attractive opportunities and is where the most St Maarten stunning villas are located.
You will discover here the most beautiful villas for sale or rent in St Maarten St Martin.