Residence permits can now be petitioned under Co-habitation agreements

Posted on December 13, 2023December 15, 2023 by BrightPath Caribbean

PHILIPSBURG–Couples no longer have to get married in order for the legal partner to apply for a residence permit for the undocumented partner.

A residence permit can now be applied for by using a [Co-habitation agreement] – an agreement indicating that couples are in a common law relationship. Permits can also be applied for under certain circumstances through what was described as “continued residence” of persons who once held a temporary residence permit.

These are amongst the areas regulated in a new Ministerial Decree signed by Justice Minister Anna Richardson on September 22, which is aimed at further improving the application process for residency permits. Some details of the new decree were provided in a press release issued to the media on Tuesday.

According to the press release, after extensive discussions with legal and policy advisors, one key aspect reintroduced in the Ministerial Decree seeks to offer applicants the option to apply for a residency permit through a concubine agreement (“samenlevingsovereenkomst”), eliminating the requirement for couples to marry to regulate their status. “Acknowledging past abuses of this criteria, the honourable minister, in conjunction with the Immigration Department, has implemented appropriate ‘checks and balances’ to confirm the legitimacy of relationships,” it was stated in the release.

Another significant reintroduction in the decree, the release continued, allows individuals to apply for their residence permit through continued residence, under certain circumstances. This applies to applicants who have held a previous temporary residence permit with the aim of family formation and family reunification. The permit for the purpose of continued residence will be granted for a period of at least two years without restrictions, the release stated.

Additionally, the decree also addresses requests from non-nationals whose marital or cohabitation status has changed in accordance with paragraph 4.6.2 of the guidelines. Exceptions, such as cases involving abuse and/or the death of a spouse, will now be granted for the purpose of continued residence. Specific requirements for eligibility under this category are further outlined in the ministerial decree.

The decree also regulates how dispensation (an exemption) from the out-of-country requirement is granted by the minister of justice. With the updated Ministerial Decree, once dispensation is granted, applicants will have eight weeks to regulate their legal status. Failure to collect the dispensation order within this period will result in automatic expiration, and the applicant will be deemed to have resided illegally in St. Maarten during that period.

The Ministerial Decree was published on Friday, September 29, in the National Gazette and the public is invited to view it. It is also available on the website of the Ministry of Justice and posted on the associated social media networks.

According to the release, the signing of the new Ministerial Decree followed the adoption of the Ministerial Decree on April 29, 2021, “wherein practical circumstances necessitated revisions.” The release stated that the primary objective of the new Ministerial Decree is “to provide applicants with a fair opportunity, better understanding and clear guidance on specific aspects outlined in the guidelines of the National Ordinance on Admissions and Expulsions LTU.”

– Source: Permission to republish full article obtained from The Daily Herald. Original article dated 13 December 2023.

Do you have any questions?

Contact us today for a free consultation and let us guide you throughout the process!

Moving to Sint Maarten: The Ultimate Guide

Posted on November 13, 2023March 19, 2024 by BrightPath Caribbean

Discover everything you need to know about relocating to the stunning island of Sint Maarten with this comprehensive guide. From how to obtain residency to the best neighborhoods, lifestyle, and culture, we’ve got you covered.

The Uniqueness of Sint Maarten: An Introduction to the Island

Sint Maarten is a unique island located in the Caribbean Sea. It is the smallest island in the world that is shared by two nations, the Kingdom of the Netherlands and France. This means that while the southern part of the island belongs to the Dutch side, the northern part is French territory, and you can freely transit between the two nations.

The island is known for its breathtaking beaches (37 in total), crystal-clear turquoise waters, and vibrant nightlife. Sint Maarten’s cultural heritage has been a for so many years a mix of influences from all over the world. From the native Arawaks and Caribs, to Spaniards, French, Dutch, British, and even the Danes and Africans, and their present reflection in the blend of cultures of all nationalities currently living on this Caribbean Island. Sint Maarten is the most beautiful expression of a multicultural community.

For those considering making Sint Maarten their home, at BrightPath Caribbean we understand how important and life-changing this decision could be and we are ready to guide you through the process. Whether it is retirement or you’re just looking for a relaxed style of living, this article will give you a better understanding of the process.

Legal Residency: Navigating the Legalities

In Sint Maarten, you can apply for legal residency under different programs, and it will all depend on what your plans are. We always recommend you book a consultation with our team to get tailored advice to your specific needs. The requirements are straightforward and like any other country, the documents needed go from a birth certificate and police record to health insurance and proof of savings. Let’s look at some of the programs under which you can apply for residency and how convenient it is to do it with BrightPath:

Managing Director Program

When your Sint Maarten dream includes setting up a business on the friendly island you will be able to apply for temporary residency under this program, after all, you might want to manage your business very closely, correct? The managing director program requires several steps and documentation that will need to be executed or requested in a logical order for the process to move forward seamlessly. This is when at BrightPath, the corporate services team and the Immigration team work together to provide you with the business incorporation and licensing process while getting started on your residency request as a managing director. Residency under the managing director program requires renewals and keeping your business active and fully compliant.

Penshonado Program

Hooray! You have decided to enjoy your retirement in Sint Maarten. The process for the pensioner program goes along with a real estate transaction. Once a temporary residency has been approved, you are allowed to live in Sint Maarten for the first year without having to buy property. This is great because this period will allow you to physically see properties and get to know the neighborhoods, giving you the perfect timeframe to find the property you’ve been dreaming of, however, when it’s time to apply for the residency renewal you will have to show the purchase of a property for a minimum amount of Naf 450,000 (equivalent to USD 250,000). The team at BrightPath can assist you with your residency request, and asset protection, and point you in the right direction for qualified tax advice. While the agents at our affiliate BrightFuture Realty can help you navigate the real estate market in St. Maarten.

With no property taxes, a lower tax bracket for those over 52, and the possibility of protecting your assets with a Private Fund Foundation, no wonder why, the retirement program is so popular.

Investor Program

Prior to applying for residency under the investor program, a real estate purchase of a minimum amount of Naf 900,000 (approximately USD 500,000) is required. Residents under this program are not allowed to work. This program is perfect for those looking to invest in real estate with the benefit of being allowed to reside legally on the island. The investor program requires renewals and unlike other Caribbean nations, it allows you to apply for an indefinite residency permit once you’ve reached the required number of residency permits without any gaps. Investing in Real Estate is a great move, especially in countries like Sint Maarten where homeowners don’t have to worry about annual property taxes, the real estate market is booming, and can protect their assets with tools like a Private Fund Foundation or a company.

Work Permit

Temporary residency under the work permit program is possible for those who have been offered a job opportunity with an organization on the island. Works permits require several steps from the applicant and the business. Both the work permit and the residency need to be renewed as required by the labor department and the immigration authorities. Work permits can be lengthy and confusing when they’re not done properly, if your company is considering bringing in a foreign employee, we recommend you book a consultation with our experts. Work permits in St. Maarten are requested by an employer looking to bring a non-resident into their staff, and not by individuals considering coming to Sint Maarten and finding a job.

Dutch – American Friendship Treaty for US Nationals

Due to the geographical proximity and Sint Maarten’s popularity as a vacation destination for US Nationals, residency requests under the DAFT program are quite common. Under this program, applicants are allowed to work without the need for a separate work permit, and no renewals are required. Applying for residency with BrightPath as a US National is convenient and hassle-free, you can start the process from the comfort of your home and our team will handle everything, including document ordering for your birth certificate, marriage certificate, police record, assistance with pets import if needed; we can refer you to a Sint Maarten tax advisor and put you in the expert hands of our real estate partners, whether you’re looking to sell your property in the US and make a full exit or just purchasing or renting in Sint Maarten.

In addition to the most requested residency permits, there are a few more options available for those looking to relocate to Sint Maarten. One such option is the student permit, which is designed for individuals who are enrolled in a local school or educational institution. This permit allows students to reside on the island while pursuing their education. Another option is the family permit, which is ideal for those who want to bring a direct family member to Sint Maarten. Whether it’s a spouse, child, or parent, this permit allows families to reunite and start a new life together on the island.

It’s worth noting that the process of obtaining residency can be time-consuming, so it’s important to start the application process well in advance of your planned relocation date. Working with a reputable immigration firm like BrightPath Caribbean can help streamline the process and ensure that all necessary documents are in order.

Whether you’re considering retirement, starting a business, or simply looking for a change of scenery, Sint Maarten offers a variety of residency options to suit your needs. With its stunning beaches, vibrant culture, and welcoming community, it’s not surprising that more and more people are choosing to make Sint Maarten their home. So, start planning your move today and prepare to embark on an exciting new chapter in your life on this beautiful Caribbean island.

Finding Accommodation: Your Home Away from Home

Relocation means, real estate. Finding suitable accommodation is an important aspect of moving to Sint Maarten. Whether you’re looking for a temporary rental or a permanent home, there are various options available to suit different budgets and preferences.

Popular areas for expats include Simpson Bay, Cupecoy, Guana Bay, Cole Bay, and Oyster Pond. These areas offer a range of housing options, from beachfront villas to cozy apartments. It’s advisable to engage the services of a local real estate agent who can assist you in finding the perfect place to call home.

When searching for the ideal neighborhood to purchase or rent a home, the decision can be a daunting task. There are countless factors to consider, including safety, proximity to work and schools, real estate prices, and traffic. Moreover, personal preferences play a significant role, such as desiring a pool, an ocean view, or direct access to the beach.

Before making your decision, it’s crucial to carefully evaluate all these factors and create a personalized checklist of your desires and must-haves. Do you picture yourself unwinding by a sparkling pool, savoring the awe-inspiring vistas of the ocean, or waking up to the serene beauty of the hills? Are you in need of the convenience of a garage or are you perfectly content with curbside parking? Take the time to thoroughly assess your preferences and needs, as finding the perfect neighborhood is key to creating a comfortable and enjoyable living experience in Sint Maarten.

Other aspects you need to consider when moving completely out of your country are your assets back home and in some cases tax exposure. If you are moving to Sint Maarten from the US, our multidisciplinary team can assist and guide you with the task of selling your property and making a clean exit, while requesting your residency permit and looking for your new place.

Quick tips on what to consider when looking for a property in Sint Maarten

When looking for a property in Sint Maarten, there are several factors to consider. First and foremost, it’s essential to determine your budget and your needs. However, these are a few things that you and your real estate agent need to keep in mind, especially if you’re a first-time owner in the Caribbean.

Maintenance and inspections: Don’t be afraid to ask how often or when was the last time something in a property had maintenance, houses in the Caribbean often require keeping up with the air conditioning, pool, septic tank, generator, solar panels, and if you’re buying, those are things you need to consider as well as a home inspection if the property has been through any natural disaster, a major repair or is older than 15 years.
Hurricane shutters: Yes, it is part of the Caribbean, and everyone has had to learn how to prepare for the hurricane season. One essential part is the protection that hurricane shutters give to your property, apart from making sure that your property is hurricane-proof, having properly installed and working shutters is important.
HOA Fees and Insurance: It’s very important to make sure you understand what the Home Owners Association fee includes, in most cases includes maintenance of common areas like pool, gym, and security, and in other cases also includes insurance for the property. Your realtor should be able to provide you with all the necessary information.
Is the property owned by an individual, a PFF, or a company: It might not seem like something of importance, since the basics of the real estate transaction are quite similar, however, it makes a world of a difference, and your realtor needs to be able to give you the correct information and to make sure that in all cases everything is up to date. For example, if the property is under a company or a private fund foundation, it is key to have all documentation, taxes, and banking details in good order, otherwise, you may have a sale-purchase transaction “jammed” for an undefined period of time.

By considering these factors when looking for a property in Sint Maarten, you can ensure that you find a home that fits your lifestyle and provides a comfortable and enjoyable living experience on this beautiful Caribbean Island.

Working Or Starting a Business in Sint Maarten: Job Opportunities and Business Environment

Sint Maarten offers job opportunities and a favorable business environment for those looking to work or start a business on the island. The tourism industry is a major contributor to the economy, providing employment opportunities in various sectors such as hospitality, entertainment, and services.

In addition to the tourism industry, Sint Maarten also has a growing cargo and travel sector and opportunities in construction, and the marine industry. It’s important to research and book a consultation with our team, to understand the requirements for working or starting a business in Sint Maarten. Depending on your nationality your employer might need, or not, to request a work permit, and in all cases if you are not born on the island or any of the Dutch island that only requires proof of registration, you will have to go through an immigration process.

Starting your own business in Sint Maarten is possible and you’ll find opportunities in a wide range of sectors. Foreigners can own 100% of their business and can request a residency permit under the managing director program for up to two non-national directors. Starting a business in Sint Maarten requires quite a few properly executed steps for the process to move smoothly, particularly when your business incorporation is the starting point for an immigration process. At BrightPath, the Corporate Services team can assist you with all the legalities, such as incorporation, licenses, banking, and registration in other departments, so you can focus on what’s important; your business.

Settling In: Embracing the Sint Maarten Lifestyle

Once you’ve made the move to Sint Maarten, it’s time to embrace the island’s unique lifestyle. The laid-back Caribbean vibe combined with the influences of both Dutch and French cultures creates a vibrant and welcoming community. Take the time to explore the island’s stunning beaches, try local cuisine, and participate in festivals and events. Engage with the local community and make new friends who can help you settle into your new life in Sint Maarten

How easy it is to integrate into the Sint Maarten Community?

Cultural integration in Sint Maarten is a fascinating experience. The island is a melting pot of cultures, with influences from European and Caribbean traditions. As a result, residents and visitors can easily immerse themselves in a diverse and vibrant community. From the colorful local festivals and events to the various languages spoken.

In terms of languages, English is widely spoken and understood on the island, making it easy for English-speaking individuals to communicate and navigate their daily lives. However, due to its history and cultural diversity, you will also hear Dutch, French, Spanish, and Papiamento being spoken (just to name a few). Embracing the local language and learning a few key phrases can greatly enhance your experience and help you connect with the community on a deeper level.

When it comes to cuisine, Sint Maarten offers a mouthwatering mix of flavors. From traditional Caribbean, Spanish, French, Italian, and even Indian dishes to the most amazing fusion cuisine proposals Indian-Caribbean or Mexican-Caribbean, or street food with Caribbean twists, authentic Italian gelato, first-class French Baked goods, and Island-made chocolate treats. in Sint Maarten, there is something to satisfy every palate. When we talk about traditional Sint Maarten cuisine don’t miss the opportunity to sample local specialties such as saltfish and Johnny cakes, jerk chicken, and delectable seafood stews. The island’s vibrant food scene is a true reflection of its multicultural heritage. Sint Maarten’s culinary proposal is among the best in the Caribbean!

Education system

In terms of education, Sint Maarten offers a range of educational institutions, including international schools, public schools, and private schools. The primary and high school education system follows the Dutch, American, or Canadian model depending on the institution. Families relocating to the island can rest assured that their children will have access to quality education.

Medical care

When it comes to healthcare, Sint Maarten offers a comprehensive healthcare system. The island has the main Hospital “Sint Maarten Medical Centre” and several Doctor’s offices conveniently located all over the Dutch side. It’s important to note that healthcare in Sint Maarten is not free, so it’s advisable to have health insurance coverage to ensure that you have access to affordable healthcare whether it is private insurance or through the government’s medical insurance called SZV.

What about shipping my belongings or buying them online?

Shipping and buying online on the island is relatively straightforward. Sint Maarten has the best-developed cargo infrastructure for the Eastern Caribbean and is well-connected to major shipping routes. This makes it easy to ship goods to and from the island. Additionally, Sint Maarten has no import/export taxes, which means you will only pay for the cargo company services. It is very common for residents to buy online in any online shopping platform and bring it to the island using one of the many cargo companies, allowing residents to conveniently purchase items online.

Events

In terms of events, Sint Maarten is known for its vibrant and lively festivals and events throughout the year. From Carnival celebrations to music festivals and regattas, there is always something exciting happening on the island. These events provide opportunities for residents and visitors to immerse themselves in the local culture, enjoy live music, indulge in delicious food, and connect with the community.

Overall, Sint Maarten offers a unique and enriching lifestyle for residents. The island provides a welcoming environment for individuals looking to relocate. Whether you’re seeking adventure, relaxation, or a fresh start, Sint Maarten has something to offer everyone.

FAQ’s

What are the residency options available for individuals moving to Sint Maarten, and how does BrightPath assist in navigating the legalities associated with each program? Residency options in Sint Maarten include the Managing Director Program, Penshonado Program, Investor Program, Work Permit, Dutch-American Friendship Treaty for US Nationals, as well as student and family permits. BrightPath provides tailored guidance and support for each program, assisting with documentation, real estate transactions, and asset protection.

What factors should individuals consider when choosing a neighborhood to live in Sint Maarten, and how can a local real estate agent assist in finding suitable accommodation? Factors to consider include safety, proximity to work and schools, real estate prices, and personal preferences like beach access or ocean views. Local real estate agents can help individuals navigate these factors and find the perfect neighborhood and accommodation that suits their lifestyle and budget.

What are some important considerations when purchasing a property in Sint Maarten, and how can BrightPath’s multidisciplinary team assist in the process? Important considerations include property maintenance, hurricane preparedness, HOA fees, and understanding property ownership structures. BrightPath’s team can provide guidance on property inspections, insurance, and ensuring legal compliance with property ownership structures.

What job opportunities and business environments are available in Sint Maarten, and how does the immigration process work for individuals seeking employment or starting a business? Job opportunities exist in sectors like tourism, cargo and travel, construction, and the marine industry. The immigration process involves obtaining work permits or residency permits under specific programs. BrightPath offers consultation and assistance to navigate the requirements for working or starting a business in Sint Maarten.

How does the lifestyle in Sint Maarten reflect its multicultural heritage, and what are some key aspects to consider regarding education, healthcare, shipping belongings, buying online, and community events? Sint Maarten’s lifestyle reflects its diverse cultural influences, evident in its cuisine, languages, and community events. Key aspects to consider include the education system, healthcare access, shipping logistics, online shopping convenience, and participation in vibrant local events and festivals.

Do you have additional questions?

Contact us today for a free consultation and let us guide you throughout the process!

Expert Tips for a Seamless Real Estate Transition from USA to St. Maarten.

Posted on August 9, 2023October 19, 2023 by BrightPath Caribbean

Breathtaking views, sun-kissed shores, and tranquility, combined with the potential of a wise real estate investment, makes St. Maarten an irresistible destination for property enthusiasts and people looking to relocate to this unique island.

BrightPath Caribbean offers complete relocation solutions with our team of experts and professional referral partners. Book a consultation today and start a flawless transition from the USA to St. Maarten.

Now, let the expertise of American real estate attorney, André Williams, be your compass to the best direction with three tips if you have been contemplating relocation from the USA to St. Maarten while managing real estate assets.

Why does André Williams like St. Maarten? And what are his expert tips?

I am attracted to St. Maarten like you because of its perfect climate, azure ocean views, and secluded tranquility. It also affords an incredible opportunity to buy a primary or second home or purchase commercial property with a high rate of return. If you are seriously interested in purchasing a property in St. Maarten, you want to engage BrightPath Caribbean to help you find a property. Similarly, I am a real estate attorney and real estate investor so I can help you navigate the process of compliance with US tax rules and provide guidance on estate planning and corporate structuring for your real estate purchase in St. Maarten.

Finding a Property

You should think about purchasing property of any kind in St. Maarten much like pursuing a long-term relationship. You should research the demography of the island and its culture, visit the island and stay in a prospective location long enough to become familiar with the area. You may also want to explore the community of expatriates here and local customs. Vivian and her team at BrightPath Caribbean can help you learn the market and evaluate whether you are getting a “good deal”. The good news is that you have an excuse to pack your bags for this due diligence.

Foreign Ownership Rules

Many countries have specific limitations on foreign ownership of land. For example, in Mexico, there are limitations on foreign ownership of property within 31 miles of the coast. In other countries, non-citizens may be required to obtain special residence permits or register with a government agency prior to closing a home purchase.

St. Maarten has no restrictions on foreign ownership and encourages real estate investment by persons from other countries.

U.S. Tax Rules/ Estate Planning/ Corporate Structure

The last piece of foreign property ownership is accounting for any income or gain you may accrue due to the property. As a U.S. citizen, you are required to report to the IRS on your worldwide transactions. In addition, there are some other very onerous reporting requirements and penalties of $10,000 or more so please consult with me at the beginning of a transaction to ensure that your transaction is structured properly, and you are protected from exposure.

Foreign real estate can be a smart investment – as long as you do your due diligence upfront, consult with an experienced US-based real estate attorney and advisors, and keep good records as you go.

Do you have any questions?

Contact us today for a free consultation and let us guide you throughout the process!

How does banking in Sint Maarten work?

Posted on June 8, 2023March 19, 2024 by BrightPath Caribbean

The Caribbean region is a diverse and enchanting destination that not only boasts stunning natural beauty but also holds significant economic potential and investment opportunities. Year after year, more and more individuals are turning their attention to this vibrant area, whether it’s for significant real estate projects or the desire to start a business or retire in a place that offers a better quality of life. As the team at BrightPath Caribbean engages with clients and conducts consultations, one of the most frequently asked questions is: What about banking?

The answer to this question is not straightforward and depends on several factors. Let’s delve deeper into the world of banking in the Caribbean, with a specific focus on personal and business banking in Sint Maarten.

When it comes to personal banking in Sint Maarten, opening a personal bank account is only possible if you are a legal resident. The process is quite similar to that of any other banking institution. You will need to provide documents such as your identification or residency document, proof of income, and perhaps a letter of recommendation from another bank. Additionally, you may be required to make an initial deposit to the account. All of these requirements must be fulfilled in person at the bank branch of your preference. If you are interested in opening a bank account but need assistance becoming a legal resident first, we are here to help. Request your free consultation with us, and we will guide you through the process step by step.

On the other hand, establishing a business bank account in Sint Maarten is a slightly more complex procedure. Fortunately, at BrightPath, our corporate services team is well-equipped to handle your banking needs from start to finish. Setting up a business bank account in Sint Maarten requires an operational business or private fund foundation with all the necessary documentation to prove proper incorporation and fiscal activity. Our team can provide expert guidance and support throughout this process, ensuring a smooth and hassle-free experience for your business.

When it comes to selecting the right banking institution for your business, it is essential to consider various factors. You will need to assess the services and rates offered by different banks, taking into account the specific requirements of your business model. For example, if your business relies on receiving credit card payments, you may need a bank that provides suitable merchant account services. Alternatively, if your business operates predominantly online, you may require seamless access to online banking facilities. Keep in mind that each service may entail additional documentation and paperwork, so it is crucial to be prepared for these requirements.

Navigating the process of setting up business bank accounts in Sint Maarten can be quite arduous without proper assistance. That’s where our corporate services team comes in. With our in-depth knowledge of the local banking landscape and our strong network of banking partners, we can guide you through the process, ensuring that you meet all the necessary requirements and can focus on running your business smoothly.

Banking in the Caribbean, including Sint Maarten, presents a diverse range of opportunities for individuals and businesses alike. The Caribbean banking sector continues to evolve and adapt to the changing needs of its customers. Whether you are a resident, investor, or entrepreneur, exploring the banking options in the Caribbean can provide you with a solid foundation for financial growth and prosperity.

At BrightPath, we understand the importance of personalized guidance when it comes to banking in the Caribbean. Our dedicated team of experts is here to help you navigate the intricacies of the banking industry, ensuring that you make informed decisions that align with your financial goals. Book a free consultation with our team today, and let us help you explore the exciting world of Caribbean banking. With our support, you can seize the opportunities that this beautiful region has to offer and embark on a path of financial success.

FAQ’s

1. What are the requirements for opening a personal bank account in Sint Maarten, and what assistance does BrightPath offer for individuals who need help becoming legal residents?
To open a personal bank account in Sint Maarten, one must be a legal resident and provide documents such as identification, proof of income, and potentially a letter of recommendation. BrightPath offers assistance in becoming a legal resident through a free consultation, guiding individuals through the process step by step.

2. What is the process for establishing a business bank account in Sint Maarten, and how can BrightPath’s corporate services team simplify this process for businesses?
Establishing a business bank account in Sint Maarten requires an operational business or private fund foundation with proper documentation for incorporation and fiscal activity. BrightPath’s corporate services team can provide expert guidance and support throughout this process, ensuring a smooth and hassle-free experience for businesses.

3. What factors should businesses consider when selecting a banking institution in Sint Maarten, and how can BrightPath assist in navigating these considerations?
Businesses in Sint Maarten should consider factors such as services offered, rates, and specific business requirements like merchant account services or online banking facilities. BrightPath can assist by providing insights into the local banking landscape, helping businesses choose the right banking partner, and guiding them through the process to meet all necessary requirements.

Do you have additional questions?

Contact us today for a free consultation and let us guide you throughout the process!

What is a Private Fund Foundation and why should you consider it as an option to protect your assets?

Posted on May 19, 2023November 13, 2024 by BrightPath Caribbean

For many years, BrightPath Caribbean remains recognized as the most trusted corporate and immigration services provider for St. Maarten and the English Caribbean. For this reason, is that we have in-depth knowledge and proven efficiency and skillset to offer you integrated services such as real estate sale and purchase (in participation with our affiliate BrightFuture Realty), and in the interest of your assets and investments, services such as the creation of Private Fund Foundations, are executed by BrightPath within very short timeframes and with your wishes and estate planning needs in mind.

Every day, a good number of real estate transactions happen in Sint Maarten, and do you know what most big investments have in common? A Private Fund Foundation protecting the asset.

A Private Fund Foundation (PFF), known in Dutch as “Stichting Particulier Fonds” (SPF), is a legal entity protecting assets, investments, or funds. With the assistance and experience of the team of professionals at BrightPath Caribbean, foreigners can create and fully participate in a PFF without the required participation of any external members or shareholders.

Private Fund Foundations can make distributions to the incorporators and others without having a social or charitable purpose. Beneficiaries, if named, can have general or limited rights. When discussing the intents and purposes that you wish to accomplish in the formation of your PFF, rely on the expertise of BrightPath and schedule your free consultation here. Our tax advisory team at CaribTax can support our efforts and offer you the monthly and annual services required to maintain the compliance of your PFF with the local tax authorities.

A Private Fund Foundation can own real estate. However, actively buying and selling real estate may be considered a business or enterprise. Collecting rent from tenants in owned real estate is not a business or an enterprise. If you are considering purchasing real estate in Sint Maarten, your representative at BrightPath can work in collaboration with one of our real estate agents at our affiliate BrightFuture Realty to synchronize the establishment of your PFF before submitting an offer to purchase. This is important to consider especially when you want to ensure that your real estate purchase offer and the establishment of your PFF are contingent upon each other. Short-term rental is subject to a 5% turnover tax (TOT). Rental for permanent residence is exempt from TOT.

Private Fund Foundations are exempt from profit taxes (corporate and income taxes). This exemption rests upon one condition: the PFF does not operate a business or an enterprise for profit. However, the law states that investment activities and acting as a holding company do not qualify as a business or an enterprise. One-time or periodical distributions by a PFF to a resident of Sint Maarten are subject to personal income tax. However, non-resident beneficiaries are not liable to income tax on Sint Maarten if they receive distributions from the PFF. (Please note that this income might be subject to income tax in the country of residence.)

What are the benefits of a Private Fund Foundation in Sint Maarten?

Yes, it is important to point out that you can own real estate in your name (private ownership) and a PFF is not required, especially when considering there are up-front fees involved. Therefore, establishing the benefits of a PFF is essential before deciding to create one with BrightPath.

When owning property in your name, outside of a PFF, income from real estate may be taxed at progressive rates of up to 47,5%. For persons who intend to purchase real estate for vacation or investment purposes, this alone may be a key deciding factor.

Additionally, matters regarding inheritance tax may also surface without the protection of a PFF. So, if you are considering retirement and/or estate planning it is essential to mention that a PFF is not subject to inheritance tax, alleviating your beneficiaries of any financial burdens in your inheritance planning.

When selling one or more real estate assets held by the PFF, transfer tax that is usually absorbed in full by the buyer (four percent of the value of the sale-purchase transaction) will not be applicable, as the PFF can be transferred with all assets it holds. This adds a layer of benefit to any prospective buyer on the property as the savings on the transfer tax would be attractive in the form of savings to any interested buyer.

The PFF is a legal entity, and therefore the assets contributed to the PFF are considered assets of the PFF and no longer of the contributor. Without a PFF in place, it is important to consider that you may be exposed to minimal or no asset protection in case something happens with your investments (for example, bankruptcy and/or legal or federal claims).

Other benefits of a Private Fund Foundation to consider include:

Total Foreign Participation: A Sint Maarten PFF can be formed by a foreign founder and have foreign beneficiaries and a board of directors.

Privacy: If beneficiaries are appointed, their names never appear in any public records. Additionally, you can use BrightPath’s registered address service, adding an extra layer of privacy to your PFF.

Time for Formation: With BrightPath, a Sint Maarten Private Fund Foundation can be formed and registered as fast as two business days if required by our client(s).

Private Fund Foundations are widely used in Sint Maarten to protect real estate assets and appoint specific beneficiaries.

A PFF will help you protect your investment for future generations.

Start Today!

Start the process for your Private Fund Foundation today with our group. Many clients looking for properties for sale in SXM as an investment or for personal use, book a consultation with BrightPath Caribbean and its affiliate companies, CaribTax and BrightFuture Realty.

BrightPath can offer you the necessary services to create your Private Fund Foundation and offer you real estate, banking, and tax advisory services if you require them.

CaribTax can assist you with the annual declarations for your PFF, and the agents at BrightFuture Realty will help you in your search for the perfect property.

Book a consultation with our team and let us assist you in the formation of your PFF to protect your real estate investment. If you already own real estate in your name and you wish to transfer the ownership out of your name and into a PFF, BrightPath can assist with this process too in conjunction with the closing agent (notary) of your choice. Our experience and services are available for the protection of your valued assets and with consideration for your planning and it’s one free consultation away, by starting here.

FAQ’s

What is a Private Fund Foundation (PFF) and how does it protect assets in St. Maarten? A Private Fund Foundation (PFF) is a legal entity designed to protect assets, investments, or funds in St. Maarten. It allows individuals to create and participate in a PFF without requiring external members or shareholders. The PFF can distribute funds to designated beneficiaries and is exempt from profit taxes as long as it does not engage in business activities for profit.
What are the benefits of establishing a Private Fund Foundation in St. Maarten for real estate ownership? Establishing a PFF in St. Maarten offers several benefits, including exemption from profit taxes, protection against inheritance tax, and avoidance of transfer taxes when selling property held by the PFF. Additionally, a PFF provides asset protection in case of bankruptcy or legal claims and offers privacy for beneficiaries as their names do not appear in public records.
How quickly can a Private Fund Foundation be formed in St. Maarten with BrightPath’s assistance? With BrightPath’s assistance, a Private Fund Foundation in St. Maarten can be formed and registered in as fast as two business days if required. BrightPath offers services for creating PFFs, as well as real estate, banking, and tax advisory services, ensuring a comprehensive approach to asset protection and estate planning.

Do you have additional questions?

Contact us today for a free consultation and let us guide you throughout the process!

Planning to Relocate? Choose the Caribbean for These Reasons

Posted on June 26, 2022August 22, 2024 by BrightPath Caribbean

In 2020, more Americans left the country than those who were born. According to estimates, some 6,000 Americans gave up their citizenship and moved abroad. If you are also among those huge number of Americans looking to relocate, choose the Caribbean.

You may have visited the Caribbean for vacation and liked the vibe. But now, as you’re thinking of immigrating to another country, consider moving to the Caribbean. And we have some solid reasons to back our advice!

Read below to find out why you should relocate to the Caribbean.

Close Proximity to the U.S.

The Caribbean is located in the south of America, and it’s fairly easy to travel to and from the states. If you want to relocate but don’t want to go too far away, then immigrating to the Caribbean may work for you.

Dual Citizenship

Caribbean countries like Antigua and Barbuda allow you to acquire a second passport without giving up your first. So if you want to play it safe and test the waters first, consider moving to the Caribbean.

Cultural Diversity

Now that we have spoken of the benefits that will help you stay connected to your roots, here’s what the future will hold. Living in the Caribbean will mean encountering multiculturalism at its best and enjoying diversity every day.

Relaxed Lifestyle

Despite the buzzing tourism industry and hustle-bustle, moving to the Caribbean will let you enjoy a relaxed and laid-back lifestyle. It’s ideal for those who want to ditch the robotic 9-5 routines and get refreshed.

Expanding Economy

If you want to start a business, then moving to the Caribbean will give you plenty of options. Some of the Caribbean countries, such as St. Maarten, have a rapidly booming economy and a lot of growth across many sectors.

Affordable Cost of Living

Living in the Caribbean is affordable and simple. If you want to enjoy sunsets, seafood, and serenity, then move to the Caribbean right away.

Tax Benefits

The Caribbean has a tax haven status, and most Caribbean countries have minimal or no income taxes. The laws vary from country to country, but you can find a tax system that best suits your needs.

Gain Residency Permit in the Caribbean

You can connect with us at BrightPath Caribbean to immigrate to the Caribbean. We can help you move to St. Maarten and five other Caribbean countries. Reach out to us for a retirement consultation or start a business in the Caribbean.

Five Most Scenic Caribbean Islands You Should Have On Your Bucket List!

Posted on June 24, 2022August 22, 2024 by BrightPath Caribbean

Turquoise-blue water, pearl white sand, and lush palm trees. We all dream of visiting the Caribbean at least once in our lifetime. Some are lucky enough to not only visit the gorgeous Caribbean islands but also find a home to move to the Caribbean permanently.

But let’s not get ahead of ourselves right away. While you may want to immigrate to the Caribbean one day in your life, now let’s talk about a much-deserved vacation to the Caribbean islands.

So how do you pick the best Caribbean islands out of the 28 countries and 750 islands? It’s simple: take inspiration from this blog and add these five stunning Caribbean islands to your bucket list. We also have a reason for you to visit each of these places!

St. Kitts and Nevis

St. Kitts and Nevis is a sister island in the Caribbean that’s known for one of the richest heritage and architectural buildings. St. Kitts and Nevis is also a golfer’s paradise as the island has a wide range of golfing activities you can indulge in. Do you want to transport yourself back to the 1800s? Visit the historical sites on this sister island.

Anguilla

If you want to live in the Caribbean like a free spirit, visit Anguilla. Anguilla is the dream destination for sports enthusiasts, known for some of the best water sports activities, including snorkeling and scuba diving.

Belize

Belize is known for its coral reefs, buzzing nightlife, and great contemporary infrastructure. If you want to experience a luxurious vacation in the Caribbean, then Belize is the place you need to be. Offering a wide range of activities, beaches, and cuisine, Belize has it all in one place.

Antigua and Barbuda

The land of 365 beaches! Antigua and Barbuda is presumably the only island in the world with 365 beaches. So if you’re a fan of exotic scenery, delicious Caribbean cuisine, and ferry boats, head over to Antigua and Barbuda. This island will offer you both a boho-chic feel and a metropolis vibe with its unique island life.

St. Maarten

And if you ever want to move to the Caribbean for good, then visit St. Maarten once. This part Dutch and part French island is known as the Friendly Island and is a hub of everything amazing. From vibrant city life to multiculturalism, St. Maarten has everything you wish for in a place.

At BrightPath Caribbean, we offer immigration consultancy and business incorporation services. If you wish to relocate to the Caribbean and start a new life, reach out to us.

Don’t Make These Five Mistakes When Immigrating to the Caribbean!

Posted on June 22, 2022August 22, 2024 by BrightPath Caribbean

With an affordable cost of living, a peaceful and laid-back lifestyle, and tempting exotic cuisine, living in the Caribbean is surely a dream come true for many. And this is why many Americans and Canadians have packed their bags in recent years and moved to a Caribbean island. Many Americans aren’t even aware that moving to the Caribbean is easy, with the team at BrightPath Caribbean and BrightFuture Realty at your availability!

While the dream of living on the beach and soaking in the sunshine is great to keep you up at night, there’s something you need to achieve this goal. From making solid financial plans to securing the right residency opportunity, immigrating to the Caribbean requires you to be diligent and rely on the expertise of BrightPath.

So if you have decided that the Caribbean is the land of your dreams, look at these five rookie mistakes many ex-pats make.

Don’t Undermine the Research

We get it; the idea of beaching your day away is enough to keep you motivated. But research is crucial to decide which island you want to move to, what kind of weather you’ll experience, the law and order situation, and yes, taxes. Further, Caribbean islands have multiple countries with multiple laws. So make sure to research enough to know your options. BrightPath Caribbean is a one-stop shop with real estate and tax advisory services all under one roof. Based in Sint Maarten, and with relationships in Dominica, St. Kitts, Antigua, Anguilla, and Belize – your most trusted relocation and immigration services partner in the Caribbean is the team of professionals at BrightPath!

Remember You Need to Set Goals

Living in the Caribbean isn’t just about beaches and parties. You need to consider practical goals if you’re moving to the Caribbean. You may want to consider your housing, medical insurance, and education system if you have small children.

For example, you may want to move to St. Maarten if you want to start a new business. Or you may want to consider Antigua and Barbuda if you want your children to enjoy free education. Health insurance, proof of sufficient funds, and education planning are all an integral part of an immigration program. As a part of establishing realistic goals and timelines, schedule your free no-obligation consultation with the team of experts at BrightPath Caribbean. Click here to learn more.

Think Long-Term Income Source

Although living in the Caribbean is more affordable than in the United States and Canada, you still need to have a steady income stream. You will need to think about long-term financial stability and start a business in the Caribbean or get a job. If retiring or investing, a tax structure to support your financial plans is essential to your decision to relocate. Sint Maarten offers tax incentives for investors and retirees alike and these services can be available to you all under one roof with BrightPath Caribbean.

Do More than Just Daydreaming

Dreaming about Caribbean life is great! But here’s what you need to do. Make financial plans, compile all the necessary documents, and choose an immigration path that best suits your interests. You also need to pick a country to know the specific immigration requirements.

Don’t Forget to Hire an Expert Consultant

Now you may think you have it under control. But the truth is that hiring a Caribbean immigration consultant will benefit you in more ways than you can imagine. You can contact us at BrightPath Caribbean to get immigration and business consultancy and immigrate to the Caribbean without hassle. BrightPath has key knowledge of different immigration programs such as Sint Maarten’s Dutch-American Treaty, citizenship by investment in Dominica, or starting a business in Belize.

FAQ’s

What are some essential factors to consider when researching potential Caribbean destinations for immigration?

When researching Caribbean destinations for immigration, it’s crucial to consider factors such as weather patterns, local laws, tax regulations, and residency options. Each island may have different laws and requirements, so thorough research is necessary to make an informed decision.

How important is it to set realistic goals when planning to immigrate to the Caribbean, and what aspects should individuals consider when setting these goals?

Setting realistic goals is essential when planning to immigrate to the Caribbean. Individuals should consider practical aspects such as housing, healthcare, education, and long-term income sources. Factors like starting a business, retirement plans, and children’s education should be part of the goal-setting process.

Why is it crucial to have a steady income stream or financial plan when considering immigration to the Caribbean?

While living in the Caribbean may be more affordable than in the United States and Canada, having a steady income stream or financial plan is crucial for long-term financial stability. Whether starting a business, getting a job, or retiring, individuals need to consider their financial situation and explore options such as tax incentives and investment opportunities offered by their chosen destination.

Do you have additional questions?

Contact us today for a free consultation and let us guide you throughout the process!

How to Retire in the Caribbean, Everything You Need to Know About Caribbean Retirement Programs

Posted on June 20, 2022August 22, 2024 by BrightPath Caribbean

Are you among the 36 percent of Americans who have a solid retirement plan in place? Or are you among those who wish to live to a 100 with 29 years of retirement life? Does the serenity of the Caribbean island attract you to pack your bags immediately?

If the answer to the above questions was yes, chances are you’re planning your retirement right now. Even if you want to work for another decade, starting right away to plan retirement in the Caribbean is surely a smart call!

But the process of retirement planning can be daunting and overwhelming. You want to get the best at the end of your work life but hesitate to put all your eggs in one basket. This is where this blog comes in.

Read it and learn everything you need to retire in the Caribbean.

Pick a Destination!

This is where it all starts from, right? Having a retirement destination in mind is the starting point of your retirement plan. However, you need to make a pick after asking yourself these questions:

What is my top-most priority? Social life, business opportunities, tax benefits, or affordable cost of living?
What will I do in my retirement life? Start a business, work remotely, or fund through my savings?
How much do I have in savings to opt for a Residency by Investment Program in the Caribbean?

Decide on Relocation Route

When relocating to the Caribbean, you have plenty of routes to choose from. You can opt for Residency by Investment, that’s offered by some Caribbean countries. Or you can opt for the Retirees Program, which allows you to purchase a property on a Caribbean island and apply for residency.

Hire a Retirement Consultant

Moving to the Caribbean may be daunting, but with the right retirement consultant by your side, you can find ease. A retirement consultant can help you in picking the ideal location based on your lifestyle, tax preferences, and retirement needs. Likewise, the consultant can help you in the process of applying for a residency permit in the Caribbean.

We Are Happy to Help!

BrightPath Caribbean is a retirement consultant in the Caribbean. Over the years, we have helped numerous American and Canadian clients immigrate to the Caribbean. Whether you want to retire in the Caribbean or set up an offshore company to enjoy tax benefits, reach out to us.

5 Things That Make Antigua and Barbuda an Ideal Place to Relocate to

Posted on June 17, 2022July 4, 2022 by BrightPath Caribbean

Known as the land of 365 beaches, the islands of Antigua and Barbuda have recently garnered a lot of popularity among those looking to relocate to the Caribbean. White sandy beaches, crystal blue water, and a laid-back pristine lifestyle make Antigua and Barbuda a favorite for ex-pats and tourists.

But when making a decision as big as immigrating to the Caribbean, one needs more than gorgeous beaches and simple life, right? So here’s why we have jotted down five practical reasons that make the islands of Antigua and Barbuda a great choice to move to the Caribbean.

Lucrative Citizenship by Investment Program

Antigua and Barbuda has one of the oldest Citizenship by Investment Programs in the Caribbean. Moreover, the dual-citizenship accorded by Antigua and Barbuda allows foreigners to maintain their native country’s citizenship and earn a passport of Antigua and Barbuda. This passport can help you travel visa-free to over 130 countries!

Free, Quality Education

Antigua and Barbuda have free, mandatory education till 16 years of age and over 90 percent of students obtain it. Most schools on the island are run under the British, American, or Canadian education system. It’s safe to say that families with young kids may find Antigua and Barbuda a favorite place to move to the Caribbean due to the availability of free, good-quality education.

Excellent Healthcare

Antigua and Barbuda have remained independent territories of Britain. This is why the healthcare system on the island is highly influenced by the British healthcare infrastructure. You can find excellent healthcare facilities while living in Antigua and Barbuda.

Ideal Geographic Location

One thing that may stop you from relocating to the Caribbean is the difficulty of traveling to the U.S. or elsewhere. Located at an interesting crossroad, Antigua and Barbuda can be easily accessed from Europe or North America. And there are plenty of choices, including by air, sea, and road to travel to the island.

Cuisine, Culture, and 365 Beaches!

And lastly, one must have fun while living in the Caribbean! Antigua and Barbuda offer a diverse culture, an array of experiences, and exotic cuisine. You can choose to live in Antigua to enjoy a metropolis life with hustle-bustle. Or find a place in Barbuda to live close to nature. Anyway, you will have a new beach to visit every day for a year!

Move to the Caribbean Now

If living in the Caribbean is your lifelong dream, then get in touch with us at BrightPath Caribbean. We are a Caribbean immigration consultancy and can help you get a residence permit in the Caribbean. Talk to us today for a free initial consultation.