Buying Islands: Features Of The Transaction

Think about the purchase of the island, you will sooner or later encounter with the issue of documents. Is there there any features? No, as a rule, the island is considered to be common land plots, and its sale is according to prescribed rules. That is, if you buy an island somewhere on the Volga, you need a refresher of the purpose of land in Russia. Pick up this, which can then be built – and more simply formalized a deal to buy real estate. If you decide to invest in a foreign island, then you wait all the features associated with buying property abroad. But no more – again, an island – it is simply land. The transaction is therefore in an ordinary manner, in the presence of a notary, you may need and authorized translator. This is good news.

But this is what needs attention: almost every country establish its own rules when selling land to foreigners. They are often – to display the country's history and mentality of the citizens. So we have exhaustively acquainted with the customs and regulations of the State in the territory which are desired by you the earth. In some countries, such a transaction is simply impossible: a foreigner acquires only the structure but not the land beneath them. For even more details, read what Sonny Perdue says on the issue. So, for example, found in Russia. In other countries, buying real estate can only be a legal entity – that is, when you buy the island you have to think about and my own business for the benefit of the country. Many Pacific island altogether forbidden to sell.

But it is possible to rent the island to long-term basis. Since the terms are set up to 99 years, the lease is almost tantamount to a purchase. If you still intend to buy an island in the undivided property, to be able to resell it, or leave a legacy, you should ask, perhaps, to the islands of the Caribbean or to carefully study the legislation of European countries – the owners of the islands. Many of them involve large investments in economy, but as a result of a few years you will receive full ownership of the island, a residence permit or even local citizenship. There are no restrictions when buying property there for foreigners in Canada, where, Moreover, the islands most comfortable, most affordable. In Indonesia, many attractive islands, and just not very long ago there was an opportunity for foreigners to get them in the property, conduct trade with the islands. This so-called program Hak Pakai. In any case, you can not avoid the detailed advice of local lawyers. Peculiarities of taxation, remuneration of the notary, the preferred method of payment – in each country These issues are dealt with individually. So what else do not forget to check with a lawyer: the possible use of the island. Because, for example, Croatia readily and inexpensively sell their islands to foreigners, but – does not allow them build. With the help of a competent lawyer will deal is very clear and transparent, will take into account all the nuances and details.