Saturday, January 30, 2010
Roatan Real Estate Cruise ships
Roatan Honduras, long a sleepy island in the Western Caribbean, is slowly
becoming the port of choice of the Cruise Ship industry. With the new
Mahogany Bay Port now open by Carnival Cruise lines and the expansion
of the Towne Center Port of Royal Caribbean thousands each week are
raving about this little known island location.
Called the "next it spot' by the Wall Street Journal and the development
of the Pete Dye Design "Black Pearl" Championship golf course the
inquiries in real estate for investment and retirement is on the
increase. Find it before the rest of the world does!
go to http://www.roatan-realestate.com
Do not miss out on the "Last Frontier of the Caribbean"
becoming the port of choice of the Cruise Ship industry. With the new
Mahogany Bay Port now open by Carnival Cruise lines and the expansion
of the Towne Center Port of Royal Caribbean thousands each week are
raving about this little known island location.
Called the "next it spot' by the Wall Street Journal and the development
of the Pete Dye Design "Black Pearl" Championship golf course the
inquiries in real estate for investment and retirement is on the
increase. Find it before the rest of the world does!
go to http://www.roatan-realestate.com
Do not miss out on the "Last Frontier of the Caribbean"
Labels: Cruise ship ports, Pristine Bay and the Pete Dye Black Pearl Gold Course, Roatan/Retirement/Real Estate Investment, Second homes
Saturday, October 24, 2009
Roatan Feeling Pretty Positive
-Market 'Feel' PMA
Things here are pretty optimistic and no doubt that a "PMA", Positive
Mental Attitude, is a very important factor. The world economy and the
political situation dampened the enthusiasm that was prevalent here for the
past decade, but overall most people here are pretty upbeat. It is pretty
hard not to be actually. The sand is still white, water is still aqua blue,
the weather is warm and sunny, the people are still as friendly as ever and
economically the island will do well this coming year. The losses that were
experienced due to the economic and political situation this year will fade.
You only need to look at the expansion of the Royal Caribbean cruise ship
dock and the opening, on November 20th this year, of the new Carnival Cruise
Line port to see how life can spring right back to normal.
The mid-island "Pristine Bay" Development will have a Pete Dye designed 18
hole golf course in full operation by mid 2010, (9 holes completed by years
end- '09). The developers of this project have two successful projects under
their belt (the latest is the Antigua Country Club in Guatemala). They will
have a company called Lancaster Group handling their property management.
Lancaster is a high-end, boutique Hotel Management company. (Both mentioned
businesses can be found online). They have 350+ full time people working
there daily on construction and golf course maintenance.
Carnival Cruise lines will open their new $67 million Port mid island this
November and Royal Caribbean is in the process of investing $30 million on
the expansion of the Coxen Hole Location. The Carnival project started
construction AFTER last Fall's "economic" crisis. By next season they are
projecting up to 6,000 cruise visitors a day seasonally. Carnival Corp. is
the largest cruise company in the world running seven different cruise ship
lines, one of which is Carnival. Their new ships have a cost that exceeds
One Billion dollars with over $250 million in "kitchen ware" alone.
Basically the above means hundreds of thousands of visitors who, like many
that come here, will fall in love with the place. Then you have the Pristine
Bay Development with the new Black Pearl Dye Design Gold Course. No layoffs
there. They are full speed ahead with over 350 people working there daily.
You can swing your clubs there by the end of the year and the week before
Easter will be the Grand Opening Celebration. I know that wherever it is you
are now, some of this may sound like pretty small potatoes. For the sleepy
little island of Roatan, however, it is news that economically is all
positive for the people on the island.
Things here are pretty optimistic and no doubt that a "PMA", Positive
Mental Attitude, is a very important factor. The world economy and the
political situation dampened the enthusiasm that was prevalent here for the
past decade, but overall most people here are pretty upbeat. It is pretty
hard not to be actually. The sand is still white, water is still aqua blue,
the weather is warm and sunny, the people are still as friendly as ever and
economically the island will do well this coming year. The losses that were
experienced due to the economic and political situation this year will fade.
You only need to look at the expansion of the Royal Caribbean cruise ship
dock and the opening, on November 20th this year, of the new Carnival Cruise
Line port to see how life can spring right back to normal.
The mid-island "Pristine Bay" Development will have a Pete Dye designed 18
hole golf course in full operation by mid 2010, (9 holes completed by years
end- '09). The developers of this project have two successful projects under
their belt (the latest is the Antigua Country Club in Guatemala). They will
have a company called Lancaster Group handling their property management.
Lancaster is a high-end, boutique Hotel Management company. (Both mentioned
businesses can be found online). They have 350+ full time people working
there daily on construction and golf course maintenance.
Carnival Cruise lines will open their new $67 million Port mid island this
November and Royal Caribbean is in the process of investing $30 million on
the expansion of the Coxen Hole Location. The Carnival project started
construction AFTER last Fall's "economic" crisis. By next season they are
projecting up to 6,000 cruise visitors a day seasonally. Carnival Corp. is
the largest cruise company in the world running seven different cruise ship
lines, one of which is Carnival. Their new ships have a cost that exceeds
One Billion dollars with over $250 million in "kitchen ware" alone.
Basically the above means hundreds of thousands of visitors who, like many
that come here, will fall in love with the place. Then you have the Pristine
Bay Development with the new Black Pearl Dye Design Gold Course. No layoffs
there. They are full speed ahead with over 350 people working there daily.
You can swing your clubs there by the end of the year and the week before
Easter will be the Grand Opening Celebration. I know that wherever it is you
are now, some of this may sound like pretty small potatoes. For the sleepy
little island of Roatan, however, it is news that economically is all
positive for the people on the island.
Labels: foreign country adventures, Real Estate Investment, Roatan/Retirement/Real Estate Investment/Off Shore Baby Boomers/Caribbean, Second homes, tax haven
Thursday, February 05, 2009
Roatan Honduras Taxes Offshore
-Tax Time
Both here and there it is time to start thinking about taxes. Many times real estate people will talk about forming an Honduran corporation when purchasing property here. It originally was thought of in regard to the original law in 1991 allowing foreigners to purchase property here in excess of .72, (3000 square meters) and was used as such. This widely used maneuver allowed a foreigner to become “Honduran” in the corporation was a Honduran entity. Although now it is also used by savvy Buyers for an advantage when selling, a way to purchase a property with part of it being owned by an IRA and part personally, and lastly to be wise in estate planning and elimination of taxes for the state in both countries.
What the real estate people sometimes fail to mention is that although setting up a Honduran Corporation is the right move more times than not, that with that set up also comes the responsibilities of owning that corporation. By that I mean legally the corporation is required to file it’s annual taxes, (due April 1st) and having an annual board meeting recorded by minutes. Now the reality of this is that you use the corporation for various present and future value but it is still a corporation. Just like where ever it is you come from, you need to do what you need to do. Most of the time you will really not have much for income if any at all, (e.g. buy a lot and it sits there for a year or buy a condo and property management it here), there normally is not a great deal of money or income to report, but the fact of the matter is that you still need to do it.
The chatter among the legal circles nowadays has been how DEI, (the Honduran version of the IRS), will be coming to the island to the Registry of corporations to check on, audit, all the corporations used to purchase land to see if people have been filing their taxes. If you have not to date, you need to.
I guess the bottom line is owning property here is not much different than owning property anywhere. There are property taxes to pay, taxes to file, things to keep up with.
Our company, which is a full service real estate company can, if you wish help out with this process. For those who have invested but do not visit regularly, we can help out with this process or other requirements like paying property taxes. We do this now for many of our clients and if you need us to give you a hand or need guidance feel free to email us and we will provide the details.
Both here and there it is time to start thinking about taxes. Many times real estate people will talk about forming an Honduran corporation when purchasing property here. It originally was thought of in regard to the original law in 1991 allowing foreigners to purchase property here in excess of .72, (3000 square meters) and was used as such. This widely used maneuver allowed a foreigner to become “Honduran” in the corporation was a Honduran entity. Although now it is also used by savvy Buyers for an advantage when selling, a way to purchase a property with part of it being owned by an IRA and part personally, and lastly to be wise in estate planning and elimination of taxes for the state in both countries.
What the real estate people sometimes fail to mention is that although setting up a Honduran Corporation is the right move more times than not, that with that set up also comes the responsibilities of owning that corporation. By that I mean legally the corporation is required to file it’s annual taxes, (due April 1st) and having an annual board meeting recorded by minutes. Now the reality of this is that you use the corporation for various present and future value but it is still a corporation. Just like where ever it is you come from, you need to do what you need to do. Most of the time you will really not have much for income if any at all, (e.g. buy a lot and it sits there for a year or buy a condo and property management it here), there normally is not a great deal of money or income to report, but the fact of the matter is that you still need to do it.
The chatter among the legal circles nowadays has been how DEI, (the Honduran version of the IRS), will be coming to the island to the Registry of corporations to check on, audit, all the corporations used to purchase land to see if people have been filing their taxes. If you have not to date, you need to.
I guess the bottom line is owning property here is not much different than owning property anywhere. There are property taxes to pay, taxes to file, things to keep up with.
Our company, which is a full service real estate company can, if you wish help out with this process. For those who have invested but do not visit regularly, we can help out with this process or other requirements like paying property taxes. We do this now for many of our clients and if you need us to give you a hand or need guidance feel free to email us and we will provide the details.
Labels: retirement Homes, Second homes, Vacation
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