YOUR GUIDE TO BUYING PROPERTY IN ST ARUBA
The beautiful island of Aruba is notorious for being one of the more popular travel destinations in the Caribbean.
And this comes as no surprise, as its visitors are given the opportunity to discover a property market seeking to cater to the needs of every individual. Whether you are looking for a relatively low-priced condo on the beach or are looking to splurge on one of their more lavish residences, Aruba has it all.
So the question should not be, “do you want to buy a property in Aruba?”. But merely “how” and “where.” Our guide can assist you in that area.
Our guide breaks down everything you need to know regarding the process of buying property in Aruba, any relevant taxes that might concern you, and an insight into the country’s real estate market.
Table of Contents
OVERVIEW – ARUBA’S PROPERTY MARKET
The Island of Aruba is located in the Caribbean, just 27km from the coast of South America. The island stretches a distance of 180km² and is one of the better known of Europe’s overseas territories.
A country with rich Dutch roots stemming from as early as the 1800s, Aruba makes up what is known as the Kingdom of the Netherlands – alongside the Netherlands, St. Maarten and Curacao. In turn, the Dutch language, legal system, and even culture are integrated into the country, allowing for a multicultural experience sure to pique the interest of its visitors.
Having such close ties to Europe and the Netherlands also allows for a certain level of safety and security provided that is not available on every island, as well as more direct access to countries like the US, Canada, parts of Europe, and other Caribbean countries. The US is, in fact, in the process of funding a USD 1 Billion islandwide beautification plan. This plan would allow for further market opportunities for those interested.
Every year “The One Happy Island” receives an influx of tourists from all over the world because of its gorgeous beaches and luxurious living standards, providing massive potential for those working in the tourism industry.
From windsurfing to golf and islandwide duty-free shopping to dining out at high-quality restaurants, Aruba has something for everyone. It has a highly efficient health care system, which makes it notably perfect for those looking to retire or simply purchase a vacation home to die for.
THE BUYING PROCESS IN ARUBA
The process for Buying property in Aruba is broken down into several select steps:
- Start looking for property
- Make an offer on the property you like
- Confirm the sale/ Sign any Purchase Agreements
- Pay a 10% deposit to a Notary
- The Notary will then contact you (usually within six weeks) to sign the deed
- Then make your final payment
- Pay any required taxes and fees
BUYER’S FEES & TAXES
The Notary’s fees are around 2% of the property’s final price.
The Transfer Tax consists of around 3-6% of the purchasing price, depending on the property’s value.
The Property Tax is moderately low at around 0.4%, with a Land Tax of approximately 0.85 USD per m².
DISCOVER ARUBA’S REAL ESTATE LISTINGS
As experts in Luxury Caribbean Real Estate, Caribbean Escape can offer you a diverse range of the best residential property, commercial real estate, land for sale, and investment opportunities in Aruba.
ARUBA HOMES & CONDOS FOR SALE
If you are looking to buy one of Aruba’s homes or condos, contact us to discuss our collection of Homes for Sale and Aruba Condos for sale in Aruba.
LAND IN ARUBA FOR SALE
If you want to build up your dream home, you can access Land for Sale in Aruba. Having a vast amount of untouched and undeveloped land allows you to create your own vision of what you want your home to be.
From land on the beach to land in the city, we can give you options to find the land for sale in Aruba that is perfect for you and your wishes. And if you are looking into purchasing large areas of land for commercial purposes, we can introduce you to commercial real estate listings.
HOTELS FOR SALE IN ARUBA
Are you searching for a hotel to buy in Aruba? Register for hotels, guest houses and Bed, and Breakfasts (B&Bs).
FIND THE PERFECT PROPERTY FOR SALE IN ARUBA FOR YOU HERE
Search for your perfect property for sale in Aruba here, by discovering our Aruba real estate listings. Allow us to assist you with our insight about Aruba real estate investment opportunities and our understanding of the Aruba property market.
DISCOVER THE BEST LOCATIONS TO BUY PROPERTY IN ARUBA
EAGLE BEACH real estate
MALMOK real estate
ORANJESTAD real estate
TIERRA DEL SOL real estate
SAVANETA real estate
ARUBA RESIDENCY & CITIZENSHIP
CAN I BUY PROPERTY IN ARUBA IF I AM A FOREIGNER?
Yes, you can buy Property in Aruba if you are a foreigner / not a citizen of the country. There are no restrictions put in place against foreign buyers buying and acquiring Aruba real estate – the buying process is the same as that of its citizens. The Government welcomes any overseas buyers and investments, allowing foreigners to buy freehold property land or lease government-owned land (Though in the case of leasing, you require a lessee to pay the annual fee for the lease rights).
HOW LONG CAN I STAY IN ARUBA IF I AM A FOREIGN CITIZEN?
If one is a resident of the USA, UK, Canada, EU, or specific regions in South America, you would be permitted to stay in Aruba for three months without a visa.
DO FOREIGN CITIZENS NEED A VISA TO LIVE IN ARUBA?
If you are looking to live in Aruba more permanently, you would have to apply for a Residence Permit. The resident permits last one year, and then subsequently need to be renewed. In the case of retirees over 55, the permit does not allow for one to work in Aruba, so in order to apply applicants must show a steady and guaranteed income from a pension with an annual yield of at least 50,000 Aruban Florin(Afl) or its equivalent. Citizens of the Netherlands, St Maarten, Curacao, Bonaire, St. Eustatius, Saba, and any other municipality of the Netherlands may apply for a declaration that would allow them to be exempt from needing a permit.
HOW DO YOU BECOME A RESIDENT OF ARUBA?
If you have lived in Aruba with your temporary Residence Permit from at least 12 years, you are able to apply for a Permanent Residence Permit to live in the country indefinitely.
CAN YOU BECOME A CITIZEN OF ARUBA?
Yes, you can apply for your citizenship via naturalization if you are aged 18 and over and have resided in Aruba for at least five years continuously and have a sufficient understanding of the Dutch language.
For more information: DIMAS
FUNDING YOUR PROPERTY PURCHASE WITH A MORTGAGE
Are you looking to source a mortgage to fund your purchase in Aruba? As a foreign national, you can apply for a mortgage to buy a property in Aruba.
For more on this, contact us to discuss Caribbean mortgages
SENDING MONEY TO ARUBA TO BUY YOUR PROPERTY
If you intend to save money when you buy property in Aruba, you will need to consult a foreign exchange specialist to get the best rate for your money.
FLIGHTS TO ARUBA
There are a considerable amount of direct flights coming to Aruba from countries such as the US, Canada, and from Europe.
International Flights arrive at Reina Beatrix International Airport (AUA), Oranjestad, which has recently been renovated due to the US’s $1 Billion Beautification plan.
Most flights from North America, Europe, or the Caribbean fly directly to the airport. There are more than 100 direct non-stop flights from the US to Aruba every week.
Direct flights from South America & the Caribbean
Airlines from Argentina (Airolineas MAS), Venezuala (Aserca Airlines), Panama (COPA Airlines), Curaçao (Insel Air, The Dutch Antilles Express) & Tiana Air Aruba, amongst others, all operate flights to and from the Caribbean and South America.
Direct flights from Europe
From Amsterdam (11 hours and 50 minutes)
Or fly to Bonaire or Curaçao and take a connecting flight. (A flight from Amsterdam to Bonaire or Curaçao is approximately 10 hours and from Bonaire or Curaçao to Aruba is 45 or 25 minutes respectively).
Direct flights from North America
From Atlanta (3 hours 52 mins)
From Charlotte (4 hours 5 mins)
From Miami (2 hours 55 mins)
From New York (4 hours 50 minutes)
From Toronto (7 hours 55 minutes)
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