Margarita is a great place to spend the winter months or even to retire. (Margarita is out of the hurricane belt, too !) Margarita is blessed with a wonderful warm climate, great beaches, affordable fine restaurants and lots of services. The cost of living is reasonable, so one can really dine out frequently and hire help at low fees for almost everything: cleaning, driving, Spanish lessons, etc. Anybody with a Transient Visa (Visa de Transeúnte) can buy property in Venezuela. You just need your passport, the a.m. visa, which is easy to obtain from the Venezuelan Embassy or Consulate nearest to the city where you reside, usual requirements are: your passport, two pictures, proof of income or letter of recommendation. Or you can register your own corporation and buy on its behalf. You will also need to register with the tax authority (SENIAT) and they will issue a R.I.F. (Registro de Información Fiscal) after you fill out the NIT-N-15 form on their webpage. We can obtain your R.I.F. for you with a notarized authorization. When you find a property that you would like to buy and get to an agreement with the seller, you should take a look at the legal history of the property (this is done at the Registry Office of the jurisdiction where the property is located). We do this in advance for all properties we list. We can do this for you (if you find your own property) or you can hire your own attorney. It is very important to ensure that the person that is selling to you is the real owner of the property; if that is not the case, then you should verify that the seller has a registered power of attorney to sell. After that is done, you can go ahead and sign an option to buy agreement. Some deals, however, are done in only one step. At this stage you are supposed to make a downpayment of usually 30% of the value of the property. Or full payment if the property shall be transferred to you in one step. Usually the seller will give you between 30 to 45 days to register the negotiation, and make final payment, and it is his duty to hand over the property free of lien. If you cannot be present at the agreed date and time, you can issue a power of attorney specifically to register on your behalf. The power of attorney only entitles us only to BUY AND REGISTER for you (it does not entitle us to sell). You see, it is not that complicated, and it is even easier if you hire a pro who is qualified to take care of the procedure. Should you have any questions on buying real estate on Margarita Island, please do not hesitate to email me at: marina_kallabis@hotmail.com for an honest response. |