Frequently Asked Questions (FAQ's)
What is the ratio between feet and meters, or square feet and square meters?
Meter to feet Length ratio=3.3 (One meter equals 3.3 feet) Sq.meter to sq.feet area ratio= 10.76 (One square meter equals 10.76 square feet) In order to get the feet equivalent, you just have to multiply the meter amount with the length ratio (3.3) to get the amount of feet, or divide the feet amount by the length ratio to get the meter amount. For areas and spaces, just multiply the square meter amount with the area ratio (10.76) to get the amount of square feet, or divide the square feet amount by the area ratio to get the square meter amount. E.g., a 4.5 meter wide room is almost 15 feet wide; a 243 square meter house has an area of 2,615 square feet.
Can a foreigner buy real estate in Aruba?
Yes, there are no restrictions with regard to foreign real estate purchases in Aruba.
Is it possible to become a resident of Aruba?
Yes, it is of course possible. You must however apply for a residence permit if you are not an Aruban born Dutch citizen. Usually it is not a problem to obtain the permit, as long as you comply with certain requirements which are established by the government and which may vary from time to time. Your Prestige agent can help you with the process of permit request.
What kind of legal property ownership types are there in Aruba?
In Aruba, similar to the Dutch system, there are basically three types of real property ownership. These are freehold property land ('eigendomsgrond'), long lease land ('erfpachtsgrond') and short lease land ('huurgrond').
What is freehold property land?
Freehold property land entails legal full ownership by the title holder. Such property is relatively more expensive than the other types of property, when comparing in same location.
What is long lease land?
Long lease land is actually government owned land on which a right of long term (60 years) lease is granted to the title holder. A fixed yearly lease sum is paid by the title holder to the government. This type of ownership however provides the title holder to act as full owner with regard to the property, as such the title holder may sell, encumber, mortgage or negotiate its rights the same as with any real property ownership.
What is short lease land?
Short lease land is same as long lease land, government owned land on which a right of lease is granted to the title holder, however this right is granted usually for an undetermined period of time. Mostly this type of lease right is granted for agricultural or temporary purposes. The short lease rights are not destined for real estate development and transactions, and actually any real estate built on such land is not marketable without previously converting it (with permission of the government) into long lease land.
What are the extra costs involved with real estate purchase in Aruba?
The transfer costs of real estate are charged by the Civil Law Notary that handles the transaction. The total charge depends on the purchase sum and varies currently between 4 to 7.5 percent of the transaction sum; this includes the governmental transfer tax which is subject to the real estate value.