The citizenship of Aruba for investment.

The citizenship of Aruba for investment.

The citizenship of Aruba for investment.
Immigration to the island of Aruba, located in the Caribbean, is not very popular among Russians. Basically our compatriots come here who have relatives among the local, or with the aim of managing foreign branches. For investors, a rather interesting program for the issuance of the residence permit for Aruba with the subsequent possibility of obtaining the citizenship of the Kingdom of the Netherlands, and hence the European Union, is envisaged here. First of all, it concerns businessmen who are ready to develop their business on the island, as well as investors who have the opportunity to invest their money in local real estate. On how to obtain citizenship on the island, and will go further.
The state is located in the southern part of the Caribbean coast, near Venezuela. This territory was discovered in the 15th century by the Spaniards. But in the XVII century was colonized by Holland with the support of the local population. At the beginning of the 20th century, the oil industry began to develop rapidly. During the war, the largest oil refinery was located here, to which allied troops paid great attention. Lago’s plant produced fuel for aircraft of the anti-Hitler coalition, because of which the territory of the island was constantly attacked by the Germans.
The whole second half of the XX century was held in conditions of achieving full independence. And when an appropriate decision was received from the Dutch authorities, the local governments refused to completely separate from the European power. To this day, Aruba is a subject of the Kingdom of the Netherlands. The head of state is the Dutch King, who appoints the governor to manage the internal affairs of the island. Foreign policy is the responsibility of the Ministry of Foreign Affairs of the Netherlands.
The area of the country is 193 sq. Km. The climate is dry tropical. The average air temperature is +28 degrees. And regardless of the pores of the year.
The territory of the island is inhabited by about 111 thousand inhabitants. The main part is made up of descendants of Venezuelans, Spaniards and Dutch. More than 66% of the population speaks Papiamento (a combination of Spanish and Portuguese). He and the Dutch are considered the official languages of the state.
The basis of the economy is the services sector (more than 60% of GDP), namely tourism, banks, storage and processing of oil. The national currency is florin.
Pros and cons of emigration.
Immigration to Aruba promises such advantages:
A beautiful climate, the absence of natural disasters typical of most other islands in the Caribbean region. A decent level of local education. The Aruban Diploma of Higher Education is recognized in Europe and America. The level of medical services is quite high. Every working person holding a residence permit card can count on providing free medical care. Non-working citizens must arrange insurance (about $ 300 per month for the whole family). The presence of a wide variety in terms of leisure. In addition to beaches (which are considered the cleanest in the Caribbean), there are golf, bowling, windsurfing, museums, restaurants, playgrounds for children and much more. Prices at the level of Moscow rates. A fairly developed economy, a reliable banking and judicial system. The application for residence permit is considered quickly, there are no requirements to the residence rate. After 5 years of residence in the status of residence permit you can get a passport of a Dutch citizen who opens the doors to all EU countries.
Flag and coat of arms of Aruba.
Emigration to Aruba has such disadvantages:
Distance from Russia. Aruba does not recognize dual citizenship. Unaccustomed to the Russian mentality culture. The residence permit is subject to an annual extension. Without a visa, it is mostly possible to visit the states of South America, the Schengen area for citizens with an Aruba residence permit or permanent residence is open only when obtaining a visa. To obtain a local passport, you need to know the Dutch language.
Ways of immigration.
The main ways to move to permanent residence in Aruba:
Employment. Most often, foreigners find themselves in the field of tourism or services. For highly qualified specialists, privileges are provided. Unemployment here is small – at the level of 5-6%. Marriage with a local citizen. The easiest way to obtain the citizenship of Aruba, and hence the Netherlands Kingdom. For this, one must marry an Aruban and pass a lot of tests and interviews in order to prove the truth of their intentions. Business and investment. Acquisition of real estate.
Economic ways of moving to permanent residence in Aruba will be discussed below.
Business immigration.
Most often, foreigners who plan to develop their business in this Caribbean region, pay attention to such areas of activity:
tourism; the sphere of servicing the oil industry (companies engaged in processing and storing oil); banking sector.
To obtain a residence permit in Aruba, you must meet at least one of the following requirements:
Be the company’s CEO, whose annual turnover is at least 10 million florins (just over $ 5 million). Be an investor who has the right to obtain a license from the National Ordinance of Establishment of Companies, and owns shares worth 125,000 florins (70,000 dollars). Be an investor who is not eligible for a license from the National Ordinance of Establishment of Companies, but owns more than 40% of the shares of an Aruban company for at least 50,000 florins (28,000 dollars).
Another important condition is the availability of real estate for living. At the same time, it does not matter whether the dwelling will be privately owned or received on a long-term lease basis.
The list of basic documents for registration of residence permit:
birth certificates and foreign passports of all family members; information on the absence of previous convictions; an extract from a bank account.
Documents are considered fairly quickly – within just 3 months a decision will be made. The residence permit is initially issued for a period of 1 year and is renewed annually. Requirements for the period of residence are not required.
After 5 years of permanent residence in Aruba, you can get a passport of the Netherlands. But for this it is necessary to pass a rather difficult examination for the knowledge of the Dutch language. Usually for this purpose, foreigners take special courses on the island.
Acquisition of real estate.
Aruban real estate is not only an opportunity to quickly and easily obtain a local residence permit, but also an additional source of income. Since the foreigner is not required to a minimum period of residence in the country, the acquired property can be quite profitable to lease and receive a monthly and at the same time a rather large income – approximately 12% per annum. You will have to come to the country at least once a year – to extend your residence permit.
Another advantage of owning local real estate is a small tax. From the value of ownership it is necessary to pay only 0.4% per year. At the same time, the first 35 thousand dollars are not subject to market valuation. Yes, and when buying real estate tax is small: 3% for objects worth less than 250 thousand florins (140 thousand dollars), 6% – if the cost is higher. There is no capital gains tax at all.
The scheme for obtaining a residence permit by purchasing a real estate object is standard:
Purchase of housing for the amount of 200 thousand dollars. Submission of documents. Issuance of residence permit (approximately 4 months). Annual renewal of residence permits 4 times. In the fifth year, preparation for citizenship.
After 5 years of residence in the status of residence permit – the issuance of the passport of Holland (subject to passing the language exam and the absence of convictions).
Obtaining an Aruba residence permit is likely to be of interest to those investors who want to obtain a European passport, but the question “does not burn.” It is known that more rapid investment programs (in Cyprus, Malta) require significant investment – 1.5-2 million euros. If you follow the path described above, you can get an excellent place for an annual holiday and in 5 years the passport of an EU citizen. And with very modest costs.
Useful video.
Real estate, business and tourism on the island of Aruba:
Our articles reflect only the main aspects of obtaining citizenship in various countries. In each investment program there are nuances that can change and affect the final result.
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