The Surest Way To Pass On Your Wealth

3 bedroom house with a pool owned by a baby boomer that secured her wealth by owning BVI property in 1995. After years of appreciation its now listed for sale! see Romney Park House

I imagine a wave of baby boomers (over 60 million Americans and over 100 million in other countries around the world) all in worry over their retirement or their children's future. The current pandemic has changed the way we all look at life.  Those that own real estate are much less worried than those that do not own any. I could get into that the fact that because the banks are doing whatever they can to help home owners depicts a certain level of value within the economy that a homeowner carries but we wont get into that.  Under the current conditions we are all equally at risk to this deadly disease, whether it be via or health, or businesses and our families, and we all had to quarantine or stay home at home point.  In times like this its only natural to think about one's legacy. It makes us ponder, well , If I died, what am I leaving my children, grandchildren or even my nieces and nephews. You could leave them stocks in a company, a pile of cash or an antique car. Stocks historically always go up but it takes tremendous poise and a bit of studying to be successful in that industry, can we guarantee that our equity holdings are taken care of or that those that inherit our wealth dont sell to soon, what if they sold in a downturn? A pile of cash seems to always be a good option until we consider lottery winners and how majority of them go broke after winning it all ( an inheritance of cash might have the same affect) . There is also inflation, $1,000,000 not invested eventually will have the buying power of $700,000 in less than 30 years. Antique cars can be expensive to maintain and appreciation is not guaranteed. If you considered real estate, depending on the country its in it appreciates more than the stock market, if it doesn't, then its tangible, easier to understand and isn't as fragile as an antique car. Now I do understand that because of the appreciation, real estate in countries like America can come with large capital gains taxes that ride alone with gifts and inheritances. 

Now there are countries like the British Virgin Islands that do not tax on capital gains or inheritances. If I were a Millennial from America , Canada, Europe or one residing in the UK ( I'm by default a British Millennial)  I would be screaming to my parents and grandparents to buy property in the BVI! Without bias its probably one of the safest parts of the world to buy property. We would still be considered an emerging market as our modern economy is hardly 60 years old. However our emerging market has properties listed and sold for over $4 million dollars every year, See Shannon House , Mango Manor , and  Waters Edge.  If these properties were passed on within a BVI company there wont be any inheritance tax or capital gains tax within the BVI. It's not income , so worldwide income tax wont apply.  Why isn't everyone doing this? Besides still being considered as Nature's little secret, it's because we are only 60 years old and we still have some of our electricity poles above ground ( which will eventually go underground) , we still had frequent power outages up to a few months ago until the government started making adjustments to the power supply ( still in progress). Our top allies and competitors are Cayman Islands and Bermuda which are both more developed. But I believe I might rather buy Amazon stock for less $80 n 1998 than at $2000 a share in the year 2020 while a major pandemic is going on.  Foresight tells us its one of the best investments in the stock market anyone could make outside of the S&P and the DOW.  It was the stock markets little secret! The BVI in 20 years could be a similar play, the major difference would be far less taxes. Real estate taxes are very nominal and the HNW buyers that come here find themselves with million dollar properties paying less than $1000 a year in BVI property taxes. 

It's universally agreed that the best way to create and secure wealth is through appreciation , income , stability and less taxes.  BVI properties offer all of that especially as short term rentals. God does not have to tell us that travel will return. I think we all know that. As travel returns, sellers in the British Virgin Islands  become more confident.  Currently with no travel most sellers are willing to negotiate quite a bit. For those of you with a medium sized budget ( by BVI standards)  of $735,000  to $999,000  see Arturo Estate. 

Unless there is a total wipe out on humanity "a la the rapture" then because of the baby boomers the next generation will always be bigger than the next. So millions of baby boomers mean even more millennials and even more millennials means more of generation Z. This could either mean more diminishing wealth through taxation and wild spending or an increase of wealth passed from generation to generation by owning real estate in countries like the British Virgin Islands.  

I am Rico Garcia, a local Broker and RE/MAX Regional Owner in the British Virgin Islands. My desire is to help other dominate, not through the means of our forefathers in the developing ages but privately and safely through acquiring property all around the Caribbean. I often help many people start that journey in the British Virgin Islands. 

Click below to see our full range of available property https://remax-bestpriced-bvi.com/

Email ricogarcia@remax.net or call our offices at 1-284-346-2444