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Frequent Questions

THE BEACH CLUB is a rare resort residence. Offering amenities you would expect from a giant property: like a restaurant and bar, beach cabanas, a large fitness center and Olympic pool to mention a few. The condominium is at the center of an exclusive, gated, private beach club. Here are the answers to some of the questions you might have.

WHAT ARE THE MONTHLY AND YEARLY EXPENSES OF OWNING A CONDO HERE?
Costs are low, compared with the US and Europe. This reflects the low overall prices of the country. Low holding costs means that the residences overall compare favorably with other investment choices. These costs depend on the size of your residence.
They are broken down as follows:

  • PROPERTY TAXES: On a studio residence, approx $40 yearly. On a two-bedroom residence, approx $70 yearly. For a penthouse, $200 yearly.
  • HOA FEES AND UTILITIES: Starting at $80 per month for smaller units, including all utilities (garbage disposal, unmetered use of electricity, all water). For a penthouse: $150 to $300 per month, depending on size, again with unlimited utilities included.
  • MARINA (OPTIONAL): A boat slip is less than $50 per month, and jetskis pay half.

CAN I LIVE FULLTIME AT THE BEACH CLUB IF I CHOOSE TO?
Yes. Most owners don't, and treat their units as either investments or vacation properties, or both. But some are fulltime residents.
The Beach Club is self-contained and its tower residences are suitable for primary living quarters. With good internet connectivity, the beach club residences are suitable for working remotely or for retirees (of any age).
Tax enforcement is lax. There is no tax for foreigners staying in the country less than six months per year. After that, income taxes are low, with some classes of foreigners or investments being granted absolute tax freedom.

HOW CLOSE AM I TO THE STATES?
Direct flight time from Miami, Florida is about 2 hours and 45 minutes, but depending on where you come from, expect to fly through places like Colombia, Panama or Brazil.

WHAT IS THE CLIMATE LIKE?
The average temperature ranges between 80 and 90 degrees Fahrenheit, and can jump into the 95's. A soft breeze keeps the climate at a very comfortable level.
There is a mild rainy season in the months of September to November, but in most years it is not at the level where it is bothersome: Usually, downpours are short and quick and the majority of the day is still sunfilled.
There are never any hurricanes. This part of the Caribbean is just outside the hurricane belt. When the rest of the Caribbean suffers hurricanes, we only get the tail winds. For property owners, this means peace of mind. For boat owners, this also means that our marina is a safe port: You can keep your vessel here year-round and still satisfy your insurance company's conditions for keeping it fully insured.
Apart from being a no-hurricane zone, we are also tsunami free. There has never been a tsunami in the Caribbean, due to it being geologically impossible for any tsunami activity to ever happen in the area.

WHAT IS THE AREA LIKE?
The closest settlement is the town of Rio Chico, "Little River". Rio Chico has a few small hotels, several restaurants, and the Los Canales development bordering our Beach Club to the west. Mercedes de Paparo, a gated community, is the Club's neighbor to the east. A nearby resort, Las Olas, is a time share facility. The golf club is five minutes away through the canals. Another five minutes over is the Tacarigua National Park, noted for its large population of tropical birds. For big-city getaways, Caracas is an hour driving or twenty minutes by helicopter from the Beach Club's own helipad.

CAN FOREIGNERS OWN REAL ESTATE? DO I HAVE TO GO THERE?
There are no restrictions on ownership, and the Constitution guarantees title. Even tourists can have houses, boats, planes or cars. In fact, under the country's Constitution, foreigners are granted the same legal right as citizens. There is not even a requirement that you visit the country in order to purchase, or that you must have a visa or any other formal documents. Any foreigners, anywhere in the world, can buy and own real estate here without the need for any prior approval and without as much as even visiting. Some Isla de Oro owners signed the deed in the States, in front of a United States notary public of their choice, and then mailed the deed to the Consulate for certification, prior to sending it to the local property registry in Rio Chico for proper filing.

WHAT DO I GET AND WHAT CAN I DO WITH IT?
You get straightforward real estate: A condo unit that you can use 100% freehold (not timeshare or any kind of fractional ownership). This is private property, so you're obviously allowed to live part time, live full time, rent it out, remodel it, etc.

CAN I PURCHASE MY RESIDENCE IN THE NAME OF A LEGAL ENTITY?
The easiest way is to register ownership in your own name or in the name of another physical person (nominee). But having a company hold your real estate is also allowed, it just means more paperwork. If you have one or make one, a local corporation is less red tape than a foreign company, whose documents would need to be translated unless they are already in Spanish. There is no requirement that the company or trust be Venezuelan: If you wish to operate with a foreign legal entity, this is allowed, too, under local law. When it comes to owning real estate, there is no discrimination between citizens or foreigners, nor any discrimination between foreign companies or local ones.

IS PARKING INCLUDED?
Each apartment is sold with its own parking spot, located within the gates of the complex and guarded by inhouse security staff. You hold full title to both the property and the parking space assigned to the property. There are no extra fees for parking.
When you have visitors or if you have more than one vehicle, you may park in the Visitor's Parking area. The ratio of parking spaces to apartments is approximately 3 to 1, so there is plenty of space available.

WHO OWNS THE BEACH CLUB?
The members do. That includes you, too: As an owner of a tower residence, you are automatically also a member and shareholder of the Beach Club. As a member and shareholder, this means you are part owner of the joint assets of the Club and its residence towers: Assets that are currently valued at roughly USD $47 million (the investment needed for building a similar project today). As such, at the current prices investors are -- in addition to their residences -- actually also acquiring a share of a larger asset for pennies on the dollar.

CAN I RENT OUT MY APARTMENT WHEN I AM NOT USING IT?
Yes. There is a small management company in Rio Chico who does that for some owners, and you may also use the popular STR platforms for renting out either by yourself or with a local co-host of your choosing.

WHAT IS COST OF LIVING LIKE?
Low. Most food and locally produced items cost less than in the States. Imports are usually either about the same, or else at times slightly more due to added freight. Labor is a lot less than in the States, so labor-intensive goods and services are significantly better priced.

SHOULD I BE WORRIED ABOUT THE COUNTRY'S POLITICS?
Like Hugo Chavez before him, Venezuela's current president, Nicolás Maduro, has closer ties to Cuba and Russia than to the U.S. Politically, he is similar to Daniel Ortega in Nicaragua, where many foreigners live well as long as they don't get involved in day to day politics. In spite of its leftist rhetoric, the "Bolivarian Revolution" maintains a foreigner-friendly immigration policy and is one of the most open countries in the world for obtaining easy residency and double citizenship. There are pros and cons to the political situation, but from an value-investing viewpoint the pros outweigh the cons and risk-seeking investors see the current situation as more of a once-in-a-lifetime opportunity than a problem. What comes after Maduro will almost certainly boost the value of real estate as foreign interest in tourism increases, and as many of the country's emigrants return.

SO WHAT IS THE NEXT STEP?
First, decide if owning a residence at the Beach Club is right for you either as an investment, or a place to spend time, or both. Then, find out what is available at the price point you're comfortable going in with. If your Spanish is weak, having a local English-speaking lawyer to help with the details of property registration is worth it and can save you an extra trip.
If you don't plan on living fulltime, having a local "gofer" to help with practical details of maintenance and ownership is also a smart idea. If you offer $100 a month, you can have your pick of the litter -- a small expense that will earn itself back many times in the comfort of having someone at your beck and call to keep your place ready for your own use, for friends to use and for rentals.

MORE QUESTIONS?
Get in touch! Send an email or a text, or call us and let's talk. And, for even more answers, also click here now to read the EXECUTIVE SUMMARY




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Tower residences feature panoramic elevators overlooking the ocean. THE BEACH CLUB is a rare resort residence. Offering amenities you would expect from a giant property: like a restaurant and bar, beach cabanas, a large fitness center and Olympic pool to mention a few. The condominium is at the center of an exclusive, gated, private beach club. Here are the answers to some of the questions you might have.

WHAT ARE THE MONTHLY AND YEARLY EXPENSES OF OWNING A CONDO HERE?
Costs are low, compared with the US and Europe. This reflects the low overall prices of the country. Low holding costs means that the residences overall compare favorably with other investment choices. These costs depend on the size of your residence.
They are broken down as follows:

  • PROPERTY TAXES: On a studio residence, approx $40 yearly. On a two-bedroom residence, approx $70 yearly. For a penthouse, $200 yearly.
  • HOA FEES AND UTILITIES: Starting at $80 per month for smaller units, including all utilities (garbage disposal, unmetered use of electricity, all water). For a penthouse: $150 to $300 per month, depending on size, again with unlimited utilities included.
  • MARINA (OPTIONAL): A boat slip is less than $50 per month, and jetskis pay half.

CAN I LIVE FULLTIME AT THE BEACH CLUB IF I CHOOSE TO?
Yes. Most owners don't, and treat their units as either investments or vacation properties, or both. But some are fulltime residents.
The Beach Club is self-contained and its tower residences are suitable for primary living quarters. With good internet connectivity, the beach club residences are suitable for working remotely or for retirees (of any age).
Tax enforcement is lax. There is no tax for foreigners staying in the country less than six months per year. After that, income taxes are low, with some classes of foreigners or investments being granted absolute tax freedom.

HOW CLOSE AM I TO THE STATES?
Direct flight time from Miami, Florida is about 2 hours and 45 minutes, but depending on where you come from, expect to fly through places like Colombia, Panama or Brazil.

WHAT IS THE CLIMATE LIKE?
The average temperature ranges between 80 and 90 degrees Fahrenheit, and can jump into the 95's. A soft breeze keeps the climate at a very comfortable level.
There is a mild rainy season in the months of September to November, but in most years it is not at the level where it is bothersome: Usually, downpours are short and quick and the majority of the day is still sunfilled.
There are never any hurricanes. This part of the Caribbean is just outside the hurricane belt. When the rest of the Caribbean suffers hurricanes, we only get the tail winds. For property owners, this means peace of mind. For boat owners, this also means that our marina is a safe port: You can keep your vessel here year-round and still satisfy your insurance company's conditions for keeping it fully insured.
Apart from being a no-hurricane zone, we are also tsunami free. There has never been a tsunami in the Caribbean, due to it being geologically impossible for any tsunami activity to ever happen in the area.

WHAT IS THE AREA LIKE?
The closest settlement is the town of Rio Chico, "Little River". Rio Chico has a few small hotels, several restaurants, and the Los Canales development bordering our Beach Club to the west. Mercedes de Paparo, a gated community, is the Club's neighbor to the east. A nearby resort, Las Olas, is a time share facility. The golf club is five minutes away through the canals. Another five minutes over is the Tacarigua National Park, noted for its large population of tropical birds. For big-city getaways, Caracas is an hour driving or twenty minutes by helicopter from the Beach Club's own helipad.

CAN FOREIGNERS OWN REAL ESTATE? DO I HAVE TO GO THERE?
There are no restrictions on ownership, and the Constitution guarantees title. Even tourists can have houses, boats, planes or cars. In fact, under the country's Constitution, foreigners are granted the same legal right as citizens. There is not even a requirement that you visit the country in order to purchase, or that you must have a visa or any other formal documents. Any foreigners, anywhere in the world, can buy and own real estate here without the need for any prior approval and without as much as even visiting. Some Isla de Oro owners signed the deed in the States, in front of a United States notary public of their choice, and then mailed the deed to the Consulate for certification, prior to sending it to the local property registry in Rio Chico for proper filing.

WHAT DO I GET AND WHAT CAN I DO WITH IT?
You get straightforward real estate: A condo unit that you can use 100% freehold (not timeshare or any kind of fractional ownership). This is private property, so you're obviously allowed to live part time, live full time, rent it out, remodel it, etc.

CAN I PURCHASE MY RESIDENCE IN THE NAME OF A LEGAL ENTITY?
The easiest way is to register ownership in your own name or in the name of another physical person (nominee). But having a company hold your real estate is also allowed, it just means more paperwork. If you have one or make one, a local corporation is less red tape than a foreign company, whose documents would need to be translated unless they are already in Spanish. There is no requirement that the company or trust be Venezuelan: If you wish to operate with a foreign legal entity, this is allowed, too, under local law. When it comes to owning real estate, there is no discrimination between citizens or foreigners, nor any discrimination between foreign companies or local ones.

IS PARKING INCLUDED?
Each apartment is sold with its own parking spot, located within the gates of the complex and guarded by inhouse security staff. You hold full title to both the property and the parking space assigned to the property. There are no extra fees for parking.
When you have visitors or if you have more than one vehicle, you may park in the Visitor's Parking area. The ratio of parking spaces to apartments is approximately 3 to 1, so there is plenty of space available.

WHO OWNS THE BEACH CLUB?
The members do. That includes you, too: As an owner of a tower residence, you are automatically also a member and shareholder of the Beach Club. As a member and shareholder, this means you are part owner of the joint assets of the Club and its residence towers: Assets that are currently valued at roughly USD $47 million (the investment needed for building a similar project today). As such, at the current prices investors are -- in addition to their residences -- actually also acquiring a share of a larger asset for pennies on the dollar.

CAN I RENT OUT MY APARTMENT WHEN I AM NOT USING IT?
Yes. There is a small management company in Rio Chico who does that for some owners, and you may also use the popular STR platforms for renting out either by yourself or with a local co-host of your choosing.

WHAT IS COST OF LIVING LIKE?
Low. Most food and locally produced items cost less than in the States. Imports are usually either about the same, or else at times slightly more due to added freight. Labor is a lot less than in the States, so labor-intensive goods and services are significantly better priced.

SHOULD I BE WORRIED ABOUT THE COUNTRY'S POLITICS?
Like Hugo Chavez before him, Venezuela's current president, Nicolás Maduro, has closer ties to Cuba and Russia than to the U.S. Politically, he is similar to Daniel Ortega in Nicaragua, where many foreigners live well as long as they don't get involved in day to day politics. In spite of its leftist rhetoric, the "Bolivarian Revolution" maintains a foreigner-friendly immigration policy and is one of the most open countries in the world for obtaining easy residency and double citizenship. There are pros and cons to the political situation, but from an value-investing viewpoint the pros outweigh the cons and risk-seeking investors see the current situation as more of a once-in-a-lifetime opportunity than a problem. What comes after Maduro will almost certainly boost the value of real estate as foreign interest in tourism increases, and as many of the country's emigrants return.

SO WHAT IS THE NEXT STEP?
First, decide if owning a residence at the Beach Club is right for you either as an investment, or a place to spend time, or both. Then, find out what is available at the price point you're comfortable going in with. If your Spanish is weak, having a local English-speaking lawyer to help with the details of property registration is worth it and can save you an extra trip.
If you don't plan on living fulltime, having a local "gofer" to help with practical details of maintenance and ownership is also a smart idea. If you offer $100 a month, you can have your pick of the litter -- a small expense that will earn itself back many times in the comfort of having someone at your beck and call to keep your place ready for your own use, for friends to use and for rentals.

MORE QUESTIONS?
Get in touch! Send an email or a text, or call us and let's talk. And, for even more answers, also click here now to read the EXECUTIVE SUMMARY


 

HOME | HISTORY | LOCATION | THE BEACH CLUB | THE RESIDENCES | F.A.Q. | ABOUT | CONTACT    


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