In such times when your financial future remains ever unpredictable, an investment gives you much-needed peace of mind. Are you a U.S. citizen looking to invest abroad? Here are six countries where U.S. citizens can buy property:
- Anguilla
- Barbados
- Bermuda
- Cayman Islands
- Mexico
- Turks and Caicos
Anguilla
Anguilla is a tiny island in the Caribbean. This location stands out because of its delicious food, tasty rum, crisp waters, and colorful culture.
U.S. citizens who want to invest in Anguilla can buy up to half an acre of land. The land laws require one to build an external floor area of 2000 sq. ft. The construction must be complete within 18 months after receiving the Alien Landholding License.
Barbados
As an independent commonwealth country, Barbados is in the sights of many U.S. citizens seeking to invest abroad. What makes this location attractive to investors is its beautiful warm weather, thriving tourism culture, and distance from the U.S. A flight from New York to Barbados takes about five hours.
Tourism is the leading revenue earner for Barbados. The locals are welcoming and ever-ready to socialize.
To buy real estate in Barbados, non-residents must seek permission from the Caribbean Country’s Central Bank. Should you skip this step, your purchase is rendered null and void.
Bermuda
The Bermuda currency is directly tied to the U.S. dollar. This explains why you can use the U.S. dollar in Bermuda without issues.
Bermuda is a distinct tourist destination with the most attractive beaches, beautiful culture, and modern infrastructure. Thousands of tourists visit this paradise island every year.
There are plenty of U.S. citizens already living in Bermuda. Bermuda is a high potential location for investors to avoid lengthy processes in their quest to purchase property here.
The Cayman Isles
The Cayman Brac, Little Cayman, and Grand Cayman make up the Cayman Isles. It has a paltry 55,000 people and is the closest Caribbean location to the United States.
If you are a U.S. citizen purchasing property in the Cayman Isles for personal use, you will have a smooth, stress-free process during the transaction. However, if you want to buy a commercial property, you may become frustrated. The process is lengthy, and there are numerous requirements you must present to the relevant authorities before successfully buying a commercial property.
Mexico
A good fraction of Americans and Canadians visit Mexico either as tourists or as permanent residents after retirement. Mexico’s growth rate has been constant as more U.S. citizens seek to invest in local tourism.
The laws of Mexico prevent foreigners from purchasing properties less than 31 miles from the coast. Also, you cannot buy real estate if the property you want is 62 miles or a shorter distance away from the international border. However, should you seek to buy any property via the Mexican Corporation or the Mexican Land Trust, these rules don’t apply.
Turks and Caicos
Located north of the Dominican Republic, Turks and Caicos is an excellent place to purchase a property. The pristine beaches, warm climate, ocean views, and unchartered territories make this land ideal for U.S. citizens who want to change their scenery. It’s also ideal for people planning to set up hotels and beachside villas to offer accommodation for visiting tourists.
Turks and Caicos have banks that do not mind lending to non-residents. Investing in property, especially in more developed areas like Providenciales Island, sets you up for future success. The island of Providenciales features infrastructure, accommodations, stores, and utilities that show its exponential potential to grow.
Real estate prices here differ depending on the location of the property you want to buy. The less developed and further away the property is from the main island, the cheaper it likely is.
