Earlier this year, I heard about the islands temporarily accepting two investors sharing a $400,000 approved real estate project, which makes it more affordable for each investor. Has this program been renewed? What are its requirements? Do the investors have to split equal amounts, or can one submit $100,000 and the other $300,000? Can each investor on a joint project also bring dependents with them, and is there a limit to how many dependents?
Yes, the co-investor program has been renewed through Oct. 31, 2019. Two applicants can apply as long as they apply at the same time using the same licensed agent. Each investor must contribute at least $200,000 toward a real estate investment and the total must be at least $400,000. However, if the total investment was $500,000, then it could be split $200,000/$300,000. Each investor on a joint investment can also bring dependents with them, and there is no limit on the number of dependents.
Yes, the limited-time offer for joint investments of $200,000 U.S. dollars each was extended for 12 months, until Oct. 31, 2019. Both parties must, however, invest at least $200,000 each. The number of dependents allowed is exactly the same as a regular real estate investment and unlimited, provided the dependents meet the criteria.
Yes, until Oct. 31, 2019, it is possible for two CIP applicants to base their applications on 50 percent ownership each of a property with a minimum whole ownership value of $400,000. Both applicants must invest a minimum of $200,000. The applications should be submitted concurrently via a licensed agent. If one application is not approved, a replacement applicant must be found for the other half share of the property. Passports for both applicants will only be issued once that replacement applicant (and his/her family, if applicable) is approved as well. The minimum investment is $200,000 for a property share under the amended legislation, so the cost of the property cannot be split $100,000 and $300,000. Each applicant can apply with his or her family and there is no upper limit on the number of applicants as far as I am aware. Dependent parents over the age of 58 years and children up to 28 years can be included. Dependent children over 18 years must be in full-time higher education and have at least six months remaining in their studies at the time the application is submitted.
+1-800-347-9390
