Caribbean (Margarita Island) FAQ's

Q1 - Are there any tax incentives associated with the purchase of a property in Margarita?

Margarita Island is a tax and duty free zone. There is also no VAT on the island. The
purchaser of a property does not pay any taxes on the purchase. There is a minimal
annual property tax of US$100.

Q2 - How popular is Margarita as a holiday destination?

Margarita is very popular for its all year round weather, beautiful beaches and very friendly people. Playa el Yaque is one of the world’s most popular places for windsurfing. First Choice Holidays take UK holiday makers to a number of high quality all inclusive hotels.

Q3 - Where do the tourists come from?

Visitors come from all over the world, the main countries are Germany, Netherlands, Spain, Switzerland, Canada, United Kingdom, Venezuela and Russia.

Q4 -How easy is it to get flights to Margarita Island?

There are direct flights to Margarita from Canada, Germany, Denmark, United Kingdom, Finland, Netherlands, Russia and Argentina. The majority fly through Caracas, Venezuela, from there it is only a 35 minute flight to Margarita Island. Many airlines are now operating daily flights.

Q5 - Is it easy to get around Margarita Island?

Getting around the island is very easy. There are several car rental companies, taxis are also available at low cost.

Q7 - Do the developments have the support of the Government and local planners?

The developments have full support of all government offices on the island. The development company have also secured full legal title to the land.

Q9 - Can I live on Margarita Island and do I need to apply for residence?

Anyone can own property on the Island regardless of their nationality. There is no need for residency to live on the island. The process is very easy, a temporary residents visa is issued for the first five years, renewed annually. After five years the status changes to permanent residency.

Q10 - Are there modern facilities on the Island?

Margarita Island has all the facilities you would expect from a vibrant holiday island. Large modern shopping centres, with all the well known stores such as: Bulgari, Versace, Tommy Hilfiger (all of which enjoy duty free status). There are a great number of restaurants andbars, many specialising in seafood, but also international cuisine, such as Japanese, Chinese and Argentinean food. A good choice of hotels including five stars hotels with casinos. Cinemas, cultural centres, museums,amusement and theme parks can also be found on the island. The island also has an international airport, several marinas and is a favorite stop off for cruise ships.