Guide to Holiday Homes in Venezuela
Venezuela is a very diversified
country with high mountain ranges covered in snow and tropical beaches lined
with palm trees, it features extensive plains and of course jungle. In the east,
can be found the hauntingly beautiful Gran Sabana plateau, you will instantly
notice its strange flat-topped mountains, along the Caribbean coast, miles of
white-sand beaches fringed with coconut palms, perfect for relaxation. Is it any
wonder that this country is considered by many to be one of the last great
wilderness countries and perhaps ,South Americas best kept secret.
It is bordered by Colombia to the west, Guyana to the east, and Brazil to the
south. Venezuela, boasts some wonderful unspoilt coast areas and is popular as a
holiday destination. The country is home to the world's highest waterfall, the
Angel Falls and this location in itself is the reason many people visit this
part of the world every year. The capital, Caracas, boasts many fine
historical monuments, an excellent collection of museums and art galleries, and
old architecture juxtaposed with modern developments. Holiday and second
home insurance for property in Venezuela is available from the United Kingdom.
Floods and Earthquakes can happen on a fairly regular basis in Venezuela and it
is thus important to source a good quality holiday or second home insurance
policy. Before you buy a policy, you should be presented with a key facts
document, this will enable you to study the cover on offer. As with all other
countries, discussing your plans for your property with a local solicitor is
advisable. You may wish to rent you property out on either a short term or long
term basis and a solicitor will be able to alert you to any local legal
requirements.
There are few restrictions on
buying property in Venezuela, anyone with a a valid passport, a tourist visa and
a Registro de Informacion Fiscal (RIF). The RIF is a tax identification for all
persons, and can be obtained free of charge by request at any Tax Administration
office or the Servicio Nacional Integrado de Aministracion or, when employing a
local solicitor, they should be able to help. Overseas investors are then free
to buy property indirectly, through local companies or through foreign
companies. The process of buying a property from then on, is fairly
straight forward, after you have located a property, the estate agent, will
inform the vendor of your offer with a written document (Informe de la
documentación). The estate agent should make all negotiations on your behalf.
One method
employed in Venezuela, is to offer the vendor a “opción a compra” or “option to
buy”, this document legally “locks” both vendor and buyer. In essence, the
vendor has to sell and you have to buy. It also “fixes” the price which you will
pay. An “option a compra” will usually require you to make a deposit of between
10% to 30% of the agreed selling price.
Buyers pay in advance all registration fees and legal expenses and the seller is
obligated to deliver the property unencumbered. You will be expected to pay in
cash in advance in local currency from 1% – 3%, to handle everything up to and
including closing the deal. After the final document has been signed, it is
notarised by the notary public, and the buyer is now the legal owner, the title
or deed is handed over by the seller
Information
about buying property in Venezuela can be obtained from the Real Estate Chamber
of Venezuela (Comisión de Intermediación y Asesoría Inmobiliaria de la Camara
Inmobiliaria de Venezuela)
The whole
process of registering a property in Venezuela takes just over a month to
complete from start to finish.
Assetsure provide overseas property insurance and holiday home insurance for the
following countries....
Australia, Austria, Belgium, Bulgaria, Brazil, Canada, Cape Verde, Chile,
Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France,
Germany, Greece, Egypt, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania,
Liechtenstein, Luxembourg, Malta, Monaco, Montenegro, Morocco, Netherlands,
New Zealand, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, South
Africa, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates,
United Kingdom (UK) and Venezuela.
