By Vince DePietro-www.bonairebeachcondo.com (Extraordinary BonaireTalker - Post #2438) on Thursday, September 17, 2009 - 5:33 pm: |
Very interesting article in the Reporter outlining a new entry permit system for those foreigners who would like to stay in the Netherland Antilles without choosing to take up residence. Looks like the sole criteria is a business or real estate investment of ANG 650k.
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By superd (Experienced BonaireTalker - Post #110) on Sunday, September 20, 2009 - 2:06 pm: |
Vince
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By Vince DePietro-www.bonairebeachcondo.com (Extraordinary BonaireTalker - Post #2439) on Sunday, September 20, 2009 - 5:16 pm: |
Superd..yea it sounds a bit bizarre..But obviously no one knows exactly how this is going to "shake out"; or be enforced once the transition with Holland takes place at the end of 2010. I guess it pays to "stay tuned" as they say.
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By Bruce Zavon (BonaireTalker - Post #83) on Saturday, September 26, 2009 - 9:00 am: |
There's a second criteria beyond the NAf 650,000 investment. An investor would need to contribute NAf 50,000 annually to the crime fighting fund. I can appreciate the concept, trying to build some financial support for anti-moneylaundering (or maybe it's just general crime fighting) but structuring it this way is not good from a tax standpoint. Even though it is a mandatory annual payment to the government, it would not be considered an income tax and so a wealthy investor would not be able to take a foreign tax credit for the contribution in their country of residence. A bit expensive at US$28,000/year, even for a "powerfully wealthy foreigner."
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By elaine sculley (Extraordinary BonaireTalker - Post #1098) on Saturday, September 26, 2009 - 12:27 pm: |
is that every year 28,000 dollars besides taxes
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By Bruce Zavon (BonaireTalker - Post #86) on Saturday, September 26, 2009 - 3:32 pm: |
That's what the St. Maarten Daily Herald article says, but the Curacao Amigoe article on the 9th just says NAf 50,000 without an indication of whether it's one time or annual. I don't know for sure which is correct.
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By Vince DePietro-www.bonairebeachcondo.com (Extraordinary BonaireTalker - Post #2450) on Saturday, September 26, 2009 - 4:33 pm: |
Thanks Bruce for your input. I think conceptually it's really a great idea, but as they say the devil is in the details. If someone has to pay 28k annually on top of their initial investment, then in my book it's bupkis (that's the technical term)!
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By CaribJim (New BonaireTalk Poster - Post #4) on Thursday, October 22, 2009 - 3:45 pm: |
Vince, Why is it that you want to see Bonaire grow? We came to Bonaire because it is the most laid back, least populated island of the ABC islands. We don’t have a sewer system on the island, which means that we already have too many people, both local and tourists, for the island to handle the waste. We also have way too many cars. This island’s road system was built over donkey/goat trails. It doesn’t take many cars to plug up the system – which is rather obvious with the current downtown parking situation on any given day.
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