Buying Property in Aruba is Extremely Easy
Many times we think that to buy a property in Aruba people have to be permanent residents in Aruba and the truth is very different, you only need to be over 18 years old, have the resources and have a valid passport.
As a non-resident in Aruba you can buy, sell and rent your properties, both houses, land or commercial properties. The purchase process is the same for both locals and foreigners, all processes are carried out in the same way and are carried out by the offices of local notaries public.
In Aruba, notaries (there are only 6 and are appointed by the kings of Holland directly, M. Tromp, H. Rodriguez-Taekema, T.R. Johnson, R. Yarzagaray, M. Marugg-Helmeyer and C.A. Tromp.) are in charge of carrying out the buying and selling processes, thus ensuring that the properties can be transferred to the new owners without legal ties of the past, no outstanding debts, no previous legal claims, no mortgages, legal problems etc. Notaries prepare property deed titles and ensure their transfer, as well as the corresponding mortgages if there are any.
Closing Fees (Transfer taxes and notary fees)
The flat trasfer tax rate for non-residents is 6% of the value. The trasfer tax for residents is 3% untill the value of 250.000 florins and then residents pay 6%over the balance of the value above 250.000 aruban florins.
Notary fees trasfer deed: 1-2% of the value
Notary fees mortgage deed: 1-2% of value
Annual Property Tax
It is one of the biggest and best attractions to invest in Aruba in Real Estate, as a non-resident the annual property tax rate is only 0.6% of the value of the property. You can already see why investing in Aruba is so attractive.
Residents have a different tax rate that varies depending on the price of the property:
Value Tax Rate
Awg 0 to 250,000 0%
250,001 to 500,000 0,2%
500,001 to 750,000 0.4%
750,001 and above 0,6%
If you buy a property in Long lease land, then you will have to pay every year a very moderate fee for the annual lease land. Minimum could be said.
