Buyers Information on houses for sale on Curacao
Sotheby's International Realty will assist you to make your transaction go smoothly:
Good to know:
Curacao welcomes all foreigners and has no restrictions on purchasing and financing a property on the island. Dutch and U.S. citizens are allowed to stay in Curaçao without a visa or permit for a maximum consecutive period of 6 months each calendar year, while other nationalities can remain for a period of 90 days. Besides residency permit an investor permit with incentives is so available.
First step:
A preliminary Sale and Purchase agreement with the owner of the property should be signed, which contains the basic terms and conditions applicable for the purchase of the property. After signing this agreement, the seller is obliged to sell the property to the buyer.
Next step:
A security deposit of 10% of the sale price will be required. Pay or deposit the security deposit amount at the notary of your choice.
Required are the following documents:
A certified or verified copy of a valid identification not older than 6 months.
Personal data filled on the Buyer Information Form.
A recent proof of address (utility bill, bank statement, tax letter etc.).
Source of Funds form filled out with additional documents as proof of such funds.
Followed by
Notary process may take on average 3-5 weeks of which the notary will perform their own due diligence and request similar if not more documents.
Finally:
You will be contacted by the notary or your broker for an appointment to sign the deed and make final payments prior to the appointment date. Full payment is required in order to sign the ownership deed. In case you are not on the island a power of attorney is utilized for the transfer of property.
It is necessary that your financing is in place by the time that the official deed is signed at the notary office. *
Closing Cost
When buying a property, the following costs will be incurred by the buyer. These closing costs are approximately 5% of the purchase price. The closing costs are calculated as follows:
TRANSFER TAX | a one-time tax of 4% of the purchase price.
NOTARY FEES | fees for the transfer deed are approximately 1% of the purchase price.
ADDITIONAL FEES | notary fees for the mortgage deed, if applicable, are approximately 1% of the purchase price.
Taxes
The annual property tax is calculated over the tax value of the property (OZB), see below for the corresponding annual rates:
From ANG 0 to 250.000 USD 0 - 139,665 a tax of 0.2%
Above ANG 250.000 to 500.000 USD 139,665 - 279,330 a tax of 0.3%
Above ANG 500.000 to 750.000 USD 279,330 - 418,995 a tax of 0.4%
Above ANG 750.000 or USD 418,995 a tax of 0.5%
More information
If you have any further questions regarding buying a property, the permit process or taxes, feel free to call the office on 5999.7370104 or email info@curacaosothebysrealty.com for expert advice.