Additional rules and conditions land allocation policy

ORANJESTAD – To prevent and prohibit the sale, trading and economic transfer of land issued on a long lease (without building), the Ministry of Spatial Development, Infrastructure and the Environment introduced additional rules and conditions in the implementation of the land allocation policy.

The rules and conditions are as follows:

  1. As of September 1, 2019, it is not permitted without prior permission from the Minister for Spatial Development, Infrastructure and Environment,  to establish a right of mortgage, including collateral security and construction mortgages, by third parties that are not a financial institutions under the supervision of the Central Bank of Aruba, on leaseholds issued.
  2. As of 1 September 2019, it is not permitted party without the prior permission of the Minister of Spatial Development, Infrastructure and the Environment to transfer the shares of a legal  person being the leaseholder in economic ownership or to pledge them to a third party .
  3. Requests for prior permission for the establishment of a mortgage right, including collateral security and construction mortgages, on leasehold land, or the transfer in economic ownership or pledging of shares to a third party, must be submitted to the Department Infrastructure and Planning (DIP).

Ban economic transfer of land issued in leasehold without government permission

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