What You Need to Know When Purchasing a House in Aruba

Owning property in the stunning Caribbean island of Aruba is more accessible than you might think! JZ Realty Aruba is here to guide you through the buying process, whether you’re a local resident or a non-resident, ensuring a smooth and transparent experience. Here’s what you need to know about real estate in Aruba.

Non-Residency No Barrier

Contrary to popular belief, you don’t need to be a permanent resident to purchase a home or land in Aruba. Non-resident homeowners can stay on the island for up to 180 days per year, making it an ideal vacation or investment property destination.

Lease Land: A Unique Opportunity

Properties in Aruba are available on both property land and lease land, which is owned by the Government of Aruba and leased for 60 years at a time. This offers a unique investment opportunity, especially in sought-after areas like Arashi, Malmok, Tierra del Sol, and Palm Beach.

Aruba Tax Advantages

Aruba offers attractive tax benefits for property owners. The land tax is generally low and is based on the property’s selling price, with various tax brackets depending on the property value.
Understanding the Costs

Buying a property in Aruba involves additional costs besides the selling price, usually amounting to 5-8% of the selling price. This includes transfer tax, notary fees for the transfer and mortgage deeds, and if financing is needed, a potential additional cost.

Financing Options

Properties in Aruba can be purchased either in cash or financed through local banks, requiring a 40% down payment with interest rates between 5% to 7%.

Compliance and Documentation needed when buying a house

Personal Compliance:

• Passport
• Proof of address (Utility bill)
• Bank statements
• Latest tax return
• Source of funds (bank statement)

Buying as a company:

• Shareholder register
• Deed of incorporation or article of association
• Chamber of commerce
• Passports of all shareholders
• Source of funds (bank statement)

JZ Realty Aruba’s Commitment

At JZ Realty Aruba, we are committed to making your property buying experience in Aruba as seamless and stress-free as possible. Whether it’s your dream home or an investment property, we are here to guide you through every step of the process, ensuring all legal and compliance requirements are met with utmost professionalism.Discover exclusive Homes for Sale in Aruba.

Contact us today to start your journey towards owning a piece of paradise in Aruba!

Looking forward to Real Estate in Aruba? Contact Jorge Zarraga today at +297 7300077