Margarita Island - Exclusive to Worldwidepropertyshop -hand picked for quality of construction and value for money - Another Great investment - All Permits are in place and available for inspection

Country/Development	English Speaking staff & lawyers	Potential high rental income	Beachfront Location or sea views	Buying Costs	Direct Flights From UK	Tax free/Duty Free	Freehold	High ROI (emerging Market)	Acceptable Entry and Exit Strategy	Starting Price for Offplan Units
Margarita Island La Ensenada		island		2%						£40,371 Stage Payments 50% developer finance available on completion

Click on the picture for the full brochure. La Ensenada is a beautiful beachside development with a whole host of facilities for all members of the family. Prices start from just £40,731 for a 1 bed apartment. We are nearly sold out 1st phase townhouses this is the last time you will be able to buy at these prices

Margarita Island, Spanish in its origins but it is Caribbean in essence and the whole island has the feel of a true tropical destination. The newest emerging market in the Caribbean. Situated just near to Trinidad and off the coast of Venezuela, out of the hurricane belt. It is a very green island with a gentle rolling terrain which is lacking in other nearby islands and two very different influences - the east of the island is very populated and has large shopping malls with all the well known designer names,casinos and names like the Hard Rock Cafe,Hilton Hotel etc and the west and North of the island is fishing villages, untouched landscapes and the true tropical feel of the Caribbean.

This video from "You tube" depicts the island, its wonderful beaches and gives you an insight into where you are buying. There are plenty more videos on "You Tube" showing Margarita Island

Why Invest?
Venezuela is of international economic strategic importance because it is a major petroleum exporting country. Venezuela exports not only crude oil, but also gasoline, lubricants, jet fuel, bunker fuel and a patented boiler fuel used by electric power plants.

Getting to Venezuela
Approximate flight time from London to is 13 hours (indirect). The main international airport is Simon Bolivar International Airport (locally known as Maiquetia airport) located in the Vargas state. Margarita Island is just 35 Minutes by plane.

POLITICAL SITUATION & SECURITY

For the last 6 years Venezuela has had a populist government who, depending on your view, is either hated or loved. This has caused a decrease in foreign investment and higher unemployment. We think that this is the right moment to invest in Venezuela.
A referendum (Aug. 20, 2004) gave the president a new political life although the opposition claimed that the results were rigged by new electronic voting machines. Regional elections on Oct. 31, 2004 further entrenched the President Chavez government with many additional governors and mayors being elected who support him. The good news for foreigners is that it has also caused a devaluation which has made the cost of living very reasonable in dollar, Euro or Sterling terms. Also all tourist places are very peaceful. Safety and security for tourists here are better than in many other vacation spots and certainly far better than in most major cities throughout the world. President Chaves has given a big input to the tourism business that has increased last year. We can generally say that tourist and foreign investors are over protected under the President Chaves government.

Private doctors are good, plentiful and reasonably priced - a typical visit currently costs around $10 - $15 for residents. (Many doctors have special tourist rates that are higher than what they charge residents). Things like eyeglasses and dental work are MUCH cheaper than outside Venezuela. We just purchased some new glasses and the prices were US$41 at the low end (reasonable frames with plastic lenses) to US$70 (lighter, thinner plastic lenses). Another pair with designer frames and multi focal progressive plastic lenses were US$125.

Gas, by the way, is only US$0.042 per litre (US$0.16 US gal) for 95 octane unleaded.

INVESTING IN VENEZUELA

Residents and non-residents may invest in Venezuelan real estate, directly or indirectly. You will need a RIF (Registro de Información Fiscal), granted by a local organism (SENIA) and that consist with an evidence and number. It is obtained with the presentation of a copy of the passport or identification card and filled in a special form.

Restricted Sectors
Since 1990, the government has eliminated - but not completely - most restrictions on foreign investment. Apart from certain strategic industries, such as petroleum and petroleum derivatives, most sectors are completely open to foreign investment.

Conversion and Repatriation Policies
There are very few exchange controls in Venezuela. Profits, royalty payments and capital repatriation are fully permitted at free market rates. All repatriation restrictions have been removed. The only exception to this is debt-to-equity exchanges, which is governed by special rules.

Tax Liabilities
Venezuela levies a progressive income tax. In Venezuela, the maximum income tax rate for individuals and corporations is 34%. Venezuelan law does not differentiate between foreign and Venezuelan-owned companies, except in the petroleum sector. Capital gains are taxed as normal income. A 5% tax is withheld at the source on interest paid to non-residents. There is a 0.05% tax on financial transactions, though dividends are tax-free. Luxury goods are liable to a 20% tax. Investors in some sectors can avail of tax credits for up to five years.

TAXATION

*Maximum rate of income tax is 34%.
*New investments in agriculture, industry, manufacturing, fishing, fish-farming, livestock and tourism receive a tax rebate of 20%.
*New investments in hydrocarbon production and related activities enjoy a tax rebate of 8%.
*Purchases of capital equipment and services, for new investment in oil, mining, agriculture and fisheries are exempt from the wholesale tax.
*Capital gains tax is 1%.
*Dividends are free of tax.
*The aim of the Special Customs Schemes is to promote the competitiveness of non-traditional exports by suspending or refunding payment of tariffs on goods or inputs imported for incorporation into national production and later placement on international markets. These schemes include Temporary Admission for Inward Processing (ATPA, in its Spanish acronym), Drawback, Replacement of Inventories, Bonded Warehouses.
Tax Brackets Income Tax
Up to $16k 6%
$16k-$24k 9%
$24k-$32k 12%
$23k-$40k 16%
$40k -$48k 20%
$48k-$64k 24%
$64k-$96k 29%
over $96k 34%

READ THIS : Tip for saving yourself £1000's of pounds when you buy a property abroad. If you use a lawyer - Use lawyers that are based in the country you are buying in, a lawyer that is based in another country giving you advice on a foreign contract will just use an associate lawyer based in the country of purchase, because they have to check local paperwork, ownership, rights etc and charge you effectively double or even treble the price and take twice as long to process all paperwork. If anything goes wrong the lawyer in the country of purchase will be the one to represent you as they are the ones that have the jurisdiction to oversee legal matters in that country. This is an example a UK based Spanish lawyer recently tried to charge a client of ours £3400 to oversee a Venezuelan contract, they have to use a local Venezuelan based lawyer because they do not have access to local documentation or have jurisdiction in Venezuela, a local Venezuelan lawyer charges less than a £1000 to do exactly the same work. More English buyers need to realise what a saving they could make if they go direct to an English speaking lawyer abroad. The above is a true example of what has happened to one of our clients recently and we saved them £2400 by advising them to use a Venezuelan based lawyer they can put that towards furnishings,flights and other expenses.

WHAT THE PRESS IS SAYING and what is happening on Margarita island

El Sol de Margarita Island - New motorway planned to link Pampatar - Asuncion and Juan Griego given the go ahead

A new formula one track is now being constructed on the island, it started in October and we are the closest resort to it - prices will increase shortly and rental returns are now on track to be above what is quoted

A 15% increase of tourism is now expected for the months of October and November as Margarita plays host to International Baseball http://www.elsoldemargarita.com.ve/Noticias.aspx?NoticiaId=3008&SeccionId=6 in Spanish

Venezuelan Grand Prix
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The Venezuelan Grand Prix is a project of automobile race track to be constructed in Margarita island, Venezuela and to be inaugurated in October of 2007. The project was approved by the Interior of the State Nueva Esparta, Circuit the Simón International Bolivar and by the National Institute of Deportes of Venezuela, that contemplates the investment of near 1,135 million dollars. [1] The automobile race track will fulfill the requirements demanded by Fédération Internationale of l'Automobile (IT TRUSTS) to make events automobile international, including a Great Prize of Formula 1.

The president of the Circuit, Caesar Galeano, had initially presented/displayed projects for the construction of the circuit in other places of Venezuela, such as the Peninsula of Paraguána, in the state Falcon, and Barcelona in the state Anzoátegui. Finally it was decided on the Margarita Island, to count this with one better hotel infrastructure, and for tourist reasons and of security.

Of the total investment, 800 million will be contributed by Formula 1, which will be financed by ENTRUSTS it through their vice-president Bernie Ecclestone. The number leaves a margin of participation for the Venezuelan government open, who could contribute through one of the filial companies of his oil state one Citgo. 60% of the investment that will become in this circuit will be into the hands of the National Institute of Deportes and the rest will be private capital, including the support of ENTRUST it.

The initial project had calculated a cost of 350 million dollars, in the proposal for design included an international automotive mechanics school, raised originally for Circuit the International of Shanghai and that did not get to be constructed. As it leaves from the project is considered the creation of a Bank of Tourism to mobilize the investments generated from the beginning of activities of the circuit. Also, IT ENTRUSTS it will contribute with the extension of those hotel companies that require investments to offer more and better rooms.

There are two sites that are had visualized to construct the automobile race track. One is the Peninsula of Macanao and the other is a land located next to Marine the Santiago airport. The director of Formula 1, ENTRUSTS and the German designer Hermann Tilke they will visit both places to make the final decision and to begin the works.

14th April 2007

A haven of delights plus duty free
They tick all the boxes. Unspoilt, blue seas and year-round sun.

Island living, especially in unspoilt, sparsely populated sunny climes, is the ultimate dream of many foreign property buyers. The Caribbean paradise of Isla Margarita has all this and more.

Island living, especially in unspoilt, sparsely populated sunny climes, is the ultimate dream of many foreign property buyers. The Caribbean paradise of Isla Margarita has all this and more.

Sparkling turquoise seas and sandy white beaches fringe an island on which more than three quarters of the land is undeveloped. Owned by Venezuela, it is about 30 miles off the north-eastern coast and provides a great taste of Caribbean life – with added bonus of being out of the hurricane belt.

There are only 400,000 inhabitants, but it’s a popular and established spot for holidays (particularly with Venezuelans and passing cruise ships) and saw two million visitors in 2006 and expects 2.5 million in 2007. “The Caribbean and South America, especially areas popular with tourists, are good investments,” says Liam Bailey, from Knight Frank. Until recently, Isla Margarita has been relatively untouched by European property investors, but with properties costing a mere snip compared with those in other Caribbean islands, it’s hard to understand why. “Prices in Isla Margarita are cheap,”

“A two-bed furnished 90sq metre villa with a pool and barbeque starts at £44,000. In Barbados, an off-plan studio would cost £200,000. Even in the Dominican Republic, you’re talking £150,000.”

The climate here is perfect for those seeking warmth, with year-round sunny weather ranging from 25-32C. Getting there isn’t tricky, with direct flights operating from Gatwick and Manchester, and an additional 18 indirect flights from other UK airports, mostly going via Caracas in Venezuela. Once you’ve bought a property, living here certainly won’t break the bank.

“Venezuela is the only country where petrol is cheaper than water,”“Filling up a four-wheel drive with 80 litres of petrol costs only £1.55 and a meal for two costs £6.”

The eastern part of the island is more developed, so its not surprising that most of the resident live here, in the capital, La Asuncion, Porlamar and nearby Pampatar. The opportunities for renting property are good, particularly in the 20-week peak season covering Christmas, Easter, Carnival time and summer, as well as from October to March, when Europeans and Canadians look to escape cold winters. The rental potential is six to eight per cent per annum and current figures show capital growth of 32 per cent. Buying is straight forward and cheap, as anyone can own property and there’s no need for residency to live on the island.

“Isla Margarita has been a tax, VAT and duty free zone since the Sixties. The purchaser of a property doesn’t pay any tax on the purchase, only a normal 0.5 per cent sales tax, one percent for land registry and $100 for the notary,” he says. “Plus there’s an annual property tax of about $100. Isla Margarita is certainly one to watch,” he adds, “especially with the news that a $350 million Formula One circuit with race academy will be built shortly.
That could boost the market further.”

With a great standard of living and fantastic beaches, this island paradise has a lot to offer.

6th August 2007

It's Va Va Voom in Venezuela
This exotic outpost has all the benefits and few of the pitfalls of some overseas favourites closer to home - and a property sector that's revving up…

Even for seasoned overseas property buyers, South America may seem like a continent too far – and Venezuela an outrageously exotic option for an investment or holiday home. But look closely at a map of the region and suddenly the attractions of this classy corner of the Caribbean become obvious.

The country, which covers much of the northern coast of South America, has 2,800 kilometers of coastline washed by the same tropical seas as nearly by Barbados and Trinidad. It has all the advantages of the Caribbean islands, yet without the hurricanes. Furthermore, it’s a country that has long been a stable, prosperous part of an often troubled continent, and while other international property markets are faltering as they reach the far extremes of affordability, Venezuela has plenty of room for Capital growth. Venezuela has plenty of room for capital growth.

Venezuela was named “Little Venice” by Columbus as the native houses, built on stilts above the water, reminded him of his Italian hometown. The far north-east of the country is also the northern extreme of the Andes, with a high point of nearly 6,000 metres at Pico Bolivar. To the South is the Amazon Basin bordering Brazil, where you can find Angel Falls, the world’s highest waterfall. In the middle are the plains of Los Llanos. Most of the 26 million, Spanish, Italian and Amerindian descended population live along the northern coast, including Caracas, the endearingly chaotic capital city.

However, most British property buyers will be looking at Venezuela’s holiday island, Isla Margarita. It’s the largest and most developed of the country’s 72 Islands, and has been described as being like the Dominican Republic – only smarter. It boasts daytime temperatures that vary during the year from 24C to 38C (75F to 100F), yet there is no rainy season. Crucially, it’s outside the hurricane belt that causes so many problems for homeowners elsewhere in the Caribbean. Oddly, Isla Margarita is also one of the largest importers of Scotch whiskey in the world!

Venezuela has been a beacon to the rest of South America for many years. While its neighbours suffered coups and dodgy dictators for decades, Venezuela was a democracy. While those same neighbours suffered poverty and low living standards, in Venezuela, they discovered oil – lots of it. Now they can afford to invest in their infrastructure, hospitals, schools and social programmes – and the Head of State (and one of the world last remaining socialist leaders), Hugo Chavez, can afford to openly criticise George W Bush. Luxury indeed!

It may be critical of the Western governments, but Venezuela is now enjoying a distinctly capitalist-style economic boom – and Margarita is where a lot of that wealth gets spent. Entry levels prices are under £50,000, sound investment villas can be had for just over 100,000, and you can live in the lap of luxury in a top-spec mansion for under £200,000.

The island is 67 kilometres long and 32 kilometres across at it’s widest point. There were a grand total of 1.5 million visitors in 2005 and it is the number one holiday destination for Venezuelans. The city of Porlamar has the usual collection of shopping malls, hotels, restaurants and nightlife, as well as an international airport. The islands capital, Las Asuncion, is set on a hill overlooking its eastern tip. Perhaps the most beautiful town is colonial-style Pampatar, with its pretty harbour. Here you can sit and watch the fishermen haul in their catch before dining on fresh fish in the waterside restaurants. Another fishing village along the coast is west-facing Juangriego, renowned as a place to watch the sunsets over the tropical seas. The crystal waters offer excellent sailing and scuba diving.

Venezuela is coming late to the property party, with capital growth of around ten per cent in 2004-05 doubling to 20 per cent in 2006, at the same time as other Caribbean prices rises were slowing down. More northerly Caribbean destinations seem to have priced themselves out of the market. And while Florida’s property boom has hit the buffers, investors have been looking elsewhere for capital growth and seen this equally beautiful – but in many ways safer – place to put their money on the other side of the Caribbean. A simple buying process, based on Spanish Law, the low property-buying taxes (under £200) and the rental guarantees that companies like this offer. “The local hotels are not very high quality, yet still achieve 70 per cent occupation levels. While Spanish is the default language here, many people understand English, which is another advantage.

It isn’t just Isla Margarita that looks good for continued growth. According to The Economist: “Emerging-market indicators show that Venezuela is the fastest- growing country in the world. GDP growth is up 11.2 per cent year on year (2005 figures), and it is the only country in the world that registered a double-digit growth rate.”

06th September 2006

The Independent
A new isle of plenty

We'll be hearing a lot more of Margarita. It's almost the Caribbean, properties are cheap and the authorities welcome foreign buyers.

There's a new South American holiday-home location being launched the autumn to tempt Britons' demand for exotic overseas property. But despite being a classic location for locals, few in Europe have heard of it.

Make it your holiday destination or your home - Margarita Island is definitely an location you should seriously consider for investment and a fantastic place to visit and enjoy with all the family.

Mortgages and finance: we can obtain part mortgages on this development please enquire.

Entry Requirements: A valid passport and a visa or tourist card are necessary to immigrate to Venezuela. Tourist Cards are provided by the airlines on international flights to Venezuela. According to Immigration, in order to obtain a Retirement Visa, you must prove a monthly income of $1,200 U.S., and an additional $500 per month for each dependent. You can get a visitors visa good for 90 days. You can leave and return the next day for another. Sometimes immigration will give an extension without leaving. If you invest in or start a business you can apply for a residency visa.

Can I buy or start a business?

A. Yes, I estimate that more than 50% of business on the island are foreign owned

Q. Is there good medical care available.

A. Yes it has excellent Medical Facilities, and it is affordable, but being able to speak Spanish is necessary in most cases.

Q. Can I bring my dog, cat?

A. Yes, but you need to check with the closest Venezuelan consulate for the permits and requirements

Q. Is it a good place for a vacation?

A. Yes, absolutely! Margarita is a great place to vacation. It’s beautiful, cheap, tropical, and the people are friendly. From windsurfing/watersports, to bingo palaces, there’s lots to do!Climate: There are no marked seasons in Venezuela and Margarita Island. The temperature on the island varies from 32º C in September and 30 º C in January. We recommend being cautious when exposing to the sun, because radiation is stronger as in places with similar location.

Extension: The island has a surface of 940 km2. It is well worth to drive around it and discover all its charm. Generally the roads are good, the largest north-south extension is 33 km, and maximum east-west distance is 64 km.

Population: Approximately 350.000 inhabitants.

Currency: Legal currency is Bolívar. There are bills for 5, 10, 20, 50, 100, 1.000, 2.000, 5.000, 10.000 and 20.000 Bolívares.

Currency restrictions: Money exchange is done at Commercial Banks and Exchange Houses at the official exchange rate.

Credit Cards: Visa, MasterCard, Diners Club and American Express cards are accepted in almost all shops, stores, restaurants, hotels, bars and night clubs, as well as traveler checks. Credit cards are accepted by most tourist establishments. Outside of larger cities a good supply of Bolívar is required.

Tips: Bills from restaurants, bars and clubs include a 10 % service fee. It is still customary to tip attentive services of waiters, tourist guides, maids and bell boys.
Water: Tap water is not recommendable for human consumption. It is preferable to drink only Mineral Water or filtered water.
Transportation: Public transport in Margarita will take you everywhere on the island at a real moderate cost. It is the best way to move within the city of Porlamar (Fares from 170 Bs. To 200 Bs.), but to travel from one town to another one it is very slow, because no stops are respected and the driver will stop wherever a passenger asks to.
Electricity: Voltage on Margarita Island as well as in the rest of Venezuela is 110 Volts.
Country code for Venezuela: +58
Area code for Margarita Island: 295
High Season: December to April and July to September
Low Season: Rest of the year

Direct flights from Caracas and other Venezuelan cities, as well as scheduled or charter flights from a number of North American and European cities, make Isla Margarita an easy destination. Ferries from Puerto La Cruz, Cumaná, and La Guaira also travel to the island. Roads on Isla Margarita are good, which means a car is the easiest way to venture out on your own. Taxis and vans serve as public transportation throughout the island.

Porlamar

Porlamar, with about a third of Isla Margarita's population, is the island's center of commerce. Since it was granted free-port status in 1973, its boutique-lined avenues have been mobbed with tourists in search of tax-free bargains. Many of the goods found here are no cheaper than on the mainland, however. Porlamar is also the most cosmopolitan city on Isla Margarita, boasting countless restaurants, bars, clubs, and casinos.

A few blocks east of shady Plaza Bolívar is the Museo de Arte Contemporáneo Francisco Narváez, named after the native Margariteño sculptor whose works also can be viewed on the grounds of the Bella Vista Hotel. Here you'll find a permanent collection of Narváez's works, plus a rotating exhibit of national and international artworks. Calle Igualdad at Calle Fraternidad, Porlamar, Venezuela. PHONE: 0295/261-8668. COST: Free. OPEN: Tues.-Fri. 9-5.

The mangrove forests of Parque Nacional Laguna de la Restinga cover the 20-km (12-mi) thread of sand that makes up the tenuous link between the main part of the island and the Península de Macanao. Here you'll find a variety of colorful birds, such as the scarlet ibis. The park has an unspoiled beach and a sprinkling of fishermen's huts where you can buy the catch of the day.

In Boca del Río, 50 km (30 mi) west of Porlamar, stands the Museo Marino de Margarita, a museum whose eight exhibit halls serve as a repository for Venezuela's astounding variety of marine life. As aquariums go, this is a small facility, but you can find everything from barracudas to flying fish. Many of the exhibits focus on the history of sea exploration in northern South America. PHONE: 0295/291-3231. COST: Bs2,000. OPEN: Dec.-Apr, daily 9-5:30; May-Nov., daily 9-4:30.