Currently there are several condo projects in development on Aruba.
For more information about these projects, you can contact us and we will be more than happy to assist you.
Taxes The cost of the ownership of a house, land or commercial building are very low.
The yearly tax you have to pay is called land tax.
This land tax is based on the selling price or the tax value, which ever is higher.
Non-residentspay a tax rate of 0.6 % of the value.
The rate for commercial buildings is also 0.6 % of the value.
Residents pay the following rate:
|Afl 0 – Afl 250.000||0%|
|Afl 250.001- Afl 500.000||0.2%|
|Afl 500.001- Afl 750.000||0.4%|
|Afl 750.001 and above||0.6%|
Note that when you purchase lease land in Aruba, you have to pay besides the land tax also a yearly lease fee.
Closing Costs (transfer tax and notary fees)
When you are considering buying a house in Aruba, you have to realize that there are closing costs involved besides the selling price. These closing costs, are approximately 7 % to 10 % depending on the value and the status of the Buyer (resident or non-resident). The closing costs consists of transfer tax and notary fees.
The flat transfer tax rate (one time tax) for non-residents is 0.6 % of the value. The transfer tax rate for residents is 3% till a value of Afl. 250.000 and they pay 6% over the balance of the value above Afl. 250.000.
In Aruba you need the services of a public notary when you want to transfer the ownership of real estate in Aruba. Four notaries are appointed by the King of the Netherlands, M. Tromp, H. Rodriguez-Taekema, T.R. Johnson and R. Yarzagaray. The Buyer pays for the notary services and can therefor select the notary office to handle the transaction. The notary will assure that the Buyer will receive a clean title. The notary will prepare the deed of transfer of ownership and if necessary the mortgage deed. The rates of all notaries are the same for non-residents and residents and are as follows:
Notary fees transfer deed 1%-2% of value
Notary fees mortgage deed 1%-2% of value