Margarita is growing so quick, the many new developments are just a small sign of how fast this island is growing, still properties very cheap. We moved here from the Uk and loving it. If you need any information about the island pm me and I will try to help you.

Also we will love to meet foreigners living on the Island.

Take Care,

Anna

Hello there,

I have been looking to invest internationally and have researched Margarita Island. It sounds like a great place to invest for rentals, but I am concerned about the current political situation there. Are there any concerns about the government taking over property owned by foreigners (particularly Americans)?

Thanks.

Greg

Hi,

All I can say is at least were british and not american!

If the government there were to do this then once publicity got out about it then everything would backfire on them!!

People would not invest or travel there full stop- so unless they want to hang themselves then I dont think so???

All should be ok- they are investing millions in developing the island and tourism so I cant see that happening!!

Take care-D

Hi There,

D - Being an American, this is a concern for me, hence my question.

In any event, logic and smart thinking are rarely relevant when dealing with someone who looks like they want desperately to have absolute power. Everything Chavez has done up until now points in that direction (take a look at what he did with the oil industry there, while I'm no friend of Big Oil, it does make you worry that your investment could be taken from you at a moments' notice).

While many of his actions/plans are being done in the name of the people of his country, history tells us that these plans often backfire and that rulers who try to squash all opposition during their "revolution for the people" generally end up isolating themselves and their country. While this could take MANY years, it is still a possibility that needs to be accounted for. So while the action of government seizure of land sounds like lunacy to a rational-minded person, the mind of someone with such a large ego rarely works in the realm of reality.

Anway, I didn't want to get into a discussion of what is right or wrong politically. I just see things moving in a dangerous direction for anyone who could at some point be labeled a "wealthy foreigner/capitalist going into the country to take advantage advantage of the country's people and resources in the name of increasing their personal wealth (particularly if they plan to take the money out of the country)".

Maybe I'm completely wrong and am overreacting, but given Chavez's latest power grab moves, I'm more inclined to think otherwise. I would like to believe that he really does have the best interest of his people at heart, but as a foreigner (particularly an American), I have to ask the questions.

I just don't want to get in there, buy property, and then have Chavez proclaim that because of the bully tactics of the American government (I don't disagree that our government uses such tactics), he has decided to expel all Americans and seize their land and property holdings in the country. Remember, he has already talked about seizing property in the crowded urban areas so that he can provide for housing for the workers to solve the problem of the housing shortage. Oh well, I guess I'll have to do some on-the-ground research and talk to people who live there now, hence my participation in this forum.

Thanks again for your insight, anything I can learn is beneficial in the end.

Greg

Hi Greg,

You took the words out of my mouth about chavez- I know his irrashional temprement and you never know what his next move will be!!

He is a hot headed and arogant leader on a power trip!!

Didnt realise you were american either -otherwise my previous recommendation and response for you would have been completely different!!

Hope you didnt take my comment personally- But unfortunately you know as well as I do that he seems to dislike the USA intensely for whatever reason!!

Take care-D

You only have to look at Fiji to know nothing can be guaranteed.
Indians who lived their all of their lives where made unwelcome, many moved to New Zealand.

The whole country now suffers from lack of tourism but that never entered the equation with those seeking to take power. They did not care about the average islander they just wanted power.

Hey D,

No offense taken. I believe that our current government has given Hugo plenty of reasons to dislike our country. Trust me, I'm not scratching my head on that one.

Kiwi, you hit the nail on the head. When power-hungry people start eating, there's no telling when they'll be full and walk away from the table. It looks to me like he is set to become the leader of Venezuela for as long as he wants (i.e. a dictator).

I think I'll stay on the sidelines for now when it comes to Venezuela. I will, however, still think about planning a vacation there. That way, when it is time to move, I'll have a base of knowledge

Greg

We live in the US and are seriously looking into moving/buying a rental property on Margarita Island and being that we have no idea what that would all entail we need HELP lol ))) Can you truly earn a living by doing so? The logistics of island living... I have been looking at photos of the Island, supplies look to be plentiful, are they always? As a Property owner what are the taxes . If you would serve food and alcohol are there permits that you need? It is of coarse a new country to us and I am just trying to find out anything I can so as to make an educated choice on moving there. Knowing what the laws and regulations are for rental property would be very helpful. also the banking system is of interest i.e. how do most places deal with handling money and exchanges. also if you have any information about schools(we have a middle school age child) would be greatly appreciated. And of course if you think of anything that I really should know about and have not asked yet... that would be great!


Intresting btw about seizing property.... hmmmmm makes u think

Hey Timber,

As a fellow American, I would advise you to tread very carefully for the reasons I have posted above. Are you looking to move there now, or buy something to rent out until you are finally able to live there permanently?

I would do as much internet research on the island as possible, then would plan a trip to visit the island and do some on the ground research. There's nothing like being there to really get a feel for a place. I would also look for an accountant here who has some experience in dealing with international real estate holdings. That person should be able to give you advice on the taxation. Also, read through these posts and posts on other topics.

I know I didn't really give you any specific information, but I hope this at least points you in the right direction. I have a few websites that I have bookmarked on Margarita island. PM me and I'll send them to you.

Keep us posted on your progress. We are all learning!

Greg

Hi all,

Any pointers on prices on Margarita island,I was thinking about investing here a while back but lack of flights was my major concern,as well as security of my investment which seems to be a major issue for everyone by the looks of it.