Retire by the Beach in the Caribbean
You Can Afford to Retire by the Beach in the Caribbean
Relocating to a tranquil seaside location has been a common aspiration for many Americans and Canadians lately. The past three years of turbulence because of the pandemic and uncertainty in the global political climate may have increased the desire to escape this hectic and chaotic lifestyle and establish a new life in the perfect location.
For numerous individuals, residing by the beach in Sint Maarten embodies the ideal lifestyle they’ve sought, but are you aware it’s within reach financially?
Many people in the United States know that buying a beachfront home is costly. Areas that used to be affordable, like parts of Florida, are now too expensive. As real estate prices keep rising, options for retirees have nearly disappeared. This makes it hard for many retirees to afford their dream: a warm and relaxing retirement by the ocean.
This is why the Caribbean has become so popular for Americans and Canadians, it offers all they’re looking for. When we discuss about the Caribbean and retirement plans, the best place is without a doubt, the island of Sint Maarten. On Sint Maarten, you can find beautiful beachfront properties effortlessly, a lower cost of living compared to the US and Canada, and an appealing lifestyle. All of this makes the friendly island of St. Maarten a cost-effective destination for those who dream of living by the beach.
Retiring in Sint Maarten offers many advantages for U.S. citizens, starting with being able to purchase property at a lower cost than what it would cost in the U.S., the option for permanent residency with no renewals required, a big U.S. expat community, beautiful beaches, a vibrant culture, laid-back lifestyle and quality of life. For many Americans, retirement in the Caribbean is possible, and a smooth process when you do it with BrightPath.
Permanent Residency in Sint Maarten
Why you should consider it
Sint Maarten, a small island located in the eastern Caribbean, has garnered a reputation among many Americans considering relocation abroad as one of the premier destinations in the region. But what exactly makes this island so appealing?
First and foremost, the breathtaking views that Sint Maarten offers are nothing short of spectacular. With its stunning beaches, crystal-clear turquoise waters, and lush green hills, the island provides a picturesque backdrop that captivates both residents and visitors alike. The sunsets here are particularly renowned, painting the sky in vibrant hues of orange, pink, and purple, creating a serene and romantic atmosphere.
In addition to its natural beauty, the warmth and friendliness of the local people contribute significantly to the island’s charm. The residents of Sint Maarten, known for their hospitality, come from diverse cultural backgrounds, creating a rich tapestry of traditions and customs. This multicultural environment fosters a sense of community and inclusivity, making it easy for newcomers to feel at home.
Culinary enthusiasts will find themselves in paradise on Sint Maarten, as the island boasts an impressive array of top-notch restaurants. From fine dining establishments offering gourmet cuisine to casual beachside eateries serving fresh seafood, there is something to satisfy every palate. The island’s culinary scene is a delightful fusion of Caribbean flavors, European influences, and international dishes, making dining out an exciting adventure.
The weather in Sint Maarten is another significant draw for those seeking a more temperate climate. With warm temperatures and abundant sunshine year-round, the island enjoys a tropical climate that allows for outdoor activities and beach days throughout the year. This pleasant weather not only enhances the quality of life but also encourages a more active and outdoor-oriented lifestyle.
For those looking to establish a business or invest, Sint Maarten presents a wealth of opportunities. The island’s strategic location, coupled with its growing tourism industry, makes it an attractive destination for entrepreneurs. The government has implemented various incentives to encourage foreign investment, creating a favorable environment for business development. Whether in hospitality, retail, or real estate, the potential for growth and success is significant.
Lastly, the relaxed style of living in Sint Maarten is a major factor that draws many expatriates. The island’s laid-back atmosphere encourages a slower pace of life, allowing individuals to prioritize leisure, family, and personal well-being. This lifestyle shift can be refreshing for those coming from fast-paced urban environments, offering a chance to enjoy life more fully and appreciate the simple pleasures – living the retiree life in St Maarten can be both restful and lively all at the same time!
While it’s not the lowest-cost option for retiring on the beach, St. Maarten offers many advantages. The overall cost of living is about 28% lower than in the United States or Canada, and rent can be as much as 40% lower depending on the state with which you measure up.
Residents speak English, and merchants accept both local currency (NAF) and the U.S. dollar. The Penshonado Residency Program, an easy way to establish residency, requires an income of at least $20,000 annually along with a background check and accepted medical insurance.
Let us answer the most frequently asked questions many Americans ask on our consultations, and get to know the benefits of moving to Sint Maarten with the assistance of BrightPath Caribbean today!
Americans and Canadians Moving to SXM – Top Questions Answered
🔹Do I need to purchase Real Estate to become a permanent resident of Sint Maarten?
The short and sweet answer for Americans looking to obtain residency in Sint Maarten is, no. Purchasing real estate is not a requirement, although many Americans do so mostly as an investment opportunity. Sint Maarten does not have property taxes and property value is continuously increasing. On the other hand, purchasing property is a requirement for Canadian nationals, which in many cases is already something retirees are looking for and have already considered as part of the process.
🔹What is the legal currency in Sint Maarten?
The US Dollar is one of the two legal currencies in Sint Maarten. This is a great advantage for those moving to Sint Maarten from the USA. Not having to worry about exchange fees, always trying to do the exchange rate math in your head, and being able to keep and understand your finances just like at home, is a relief and a great advantage.
🔹What language do they speak in Sint Maarten?
English and Dutch are the two official languages of the Country. You can navigate your days just fine without worrying about getting lost in translation. Although people recognize English and Dutch as the official languages, many also speak Spanish and French widely. In Sint Maarten, you can have fun either learning new languages or putting into practice your Spanish or French from your school days.
🔹How long does it take to obtain permanent residency?
Processing your residency request with the assistance of BrightPath Caribbean can take you from 90 to 180 days, in some cases the team has been able to obtain residencies in as little as 60 days.
With BrightPath by your side, the process of your residency request can start today from the comfort of your home in the USA or Canada, and our team will handle everything, from assisting you with your documents to filing and following up on your file in Sint Maarten, all while obtaining contact updates from the team.
Canadian nationals must renew their residency permit until they qualify for permanent residency after five years, while US nationals will obtain permanent residency after their first request with the DAFT.
🔹How do I start the process of obtaining residency in Sint Maarten?
The initial step in beginning the process involves enlisting the services of BrightPath Caribbean. Once you decide to proceed, the team will draft your agreements and authorizations, process your payment, and provide status updates to initiate your document ordering, all within a single day.
As a BrightPath client, the team will take action, resolve any issues, and oversee your entire application, allowing you to concentrate on what truly matters: preparing to embrace and enjoy your new life in the Caribbean.
🔹Do I get tax incentives for retiring in Sint Maarten?
Yes. Especial tax regimes are in place for for retirees, asset protection options for your real estate investment (Private Fund Foundation), and in some cases tax exemptions for employees. Knowing how to qualify for a special tax regime or creating the best tax structure for your business or real estate investment should be done by the expert team at CaribTax. If you have more questions about taxes contact them at info@carib-tax.com.
Do you have additional questions?
Contact us today for a free consultation and let us guide you throughout the process!
Picture credits to: Astra Seafood Restaurant