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 it’s 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.
Holiday Home Insurance from Assetsure.