Frequently Asked Questions (English)


  Do you offer financing ?

  I understand that it is not easy to pay cash for a property, there is however no financing available at this time. Please do check with your local bank.

I am from Bulgary / Sweden / U.S., what do I need to purchase property on Margarita Island?

  As a foreign citizen, all you need to buy is your passport and a RIF form, which can be obtained here personally or we can get it for you with a duly notarized authorization.

Are there any regulations that coud stop me from buying property on Margarita ?

There are no regulations that could stop you from buying here. There are no restrictions. You can buy with your tourist visa, which is the green form you get on the plane. Later on you can request for a residence permit. Please do contact your Embassy or Consulate.

 

I understand that water could be a problem? How much of a problem is it?
There are reservoirs in Margarita but we also receive water from the mainland. If it does not rain for a long period, then we don't get the regular amount of water through the pipelines. This is solved locally by hiring water trucks (lorries). If you purchase in a good condo, water will not be a problem. Each truck charges approximately 100.000 Bs. per load (at least 20.000 lts), and the costs are split between all owners.


Can you contact  me at my hotel ?

Could you please give me a call once you have settled. I prefer customers to call me when they are here, as hotels sometimes do not deliver messages or deliver them to the wrong rooms. If you call me then I will have the correct room no. to contact you. My cell is: 0414 7976829 or 0416 6955049. Even better, email me prior to your arrival. Do not call me to view properties if you are leaving the next day.


Is Margarita dangerous ?
Margarita has the lowest criminality rate in the country. I am from Caracas and can say that there is absolutely no comparison between Margarita and the big city. It is safe to walk around here, though I personally do not walk alone at night (except within a mall), but that is something that I would not do anywhere. What for ?


I have a condo on Margarita. I will travel and stay away for a couple of months. What can I do to keep it in good condition ?
If you have a property on the beach (or close to the beach) that will unhabited for a long time, it is advisable that you buy chemicals that absorb the humidity. That is all you need. Also, if the property has a/c, you can set the thermostat at 25 degrees Celsius, as modern a/c equipment also absorbs humidity (even better: get yourself a dehumidifier and leave it on). Of course you should leave the property clean. Most people here leave keys with someone to make sure their properties are cleaned once a week, plants watered, etc. We take care of your property (including keeping your utilities bills paid) for a fee of Bs. 250.000 per month.

Can I use my cellphone there ?
If you have a modern cell phone that uses gsm technology (chip card) you can bring it, buy a new card here and use it. It will cost you around 28 USD (Digitel, they are in Sambil). Do not forget to carry your passport for the procedure, as it is mandatory.

Are there any taxes that apply specifically to foreigners ?
There are no extra-taxes that would apply to foreigners.

Can I have a bank account in USD or EUR with a Venezuelan bank ?
No. You can have accounts with Venezuelan Banks only in Bolívares (our local currency).

There is a property that I like but I am not sure...
I would say come over and get a feel for the island. Then if you find a good property that meets your requirements, buy it before somebody else does.

I am abroad, but would like to buy a property. Can I send a Power of Attorney from here ?
You have to sign the power of attorney in front of a notary public (in your country) and have the Apostille (The Hague Convetion) added. Do not forget that because otherwise it will not be valid. Then we register the document with a local Registry Office.

Other webpages advise me to rent instead of buying. Why ?
If you are not sure that this is the place for you to live or spend your holidays, you should rent a suitable apartment before you commit to buying a property. The problem is, there are very few properties here available for fixed rentals. And remember, you can always re-sell your property.

Is ist difficult to re-sell a property ?
No, it is not if you place a realistic value on your property.