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VUDA POINT OCEAN VIEWS ESTATE
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KPG CAPITALS' WEALTH CREATION PHILOSOPHY:
TAX EFFECTIVE INVESTMENT COUPLED WITH
SUPERANNUATION & RETIREMENT STRATEGIES.
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KPG CAPITAL has interests in two projects located at Vuda Point , Nadi , Fiji .
Vuda Point is located on the western side of the main island of Fiji adjacent Nadi and is only 15 minutes from Nadi International Airport and is the “ step off to the most popular island resorts”
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PROJECT 1 First Landing Beach Resort Development
An established 3½ star resort destination located 15 minutes from Nadi International Airport on the PURE WHITE SAND BEACH at Vuda Point, adjacent to the yacht club and marina. www.vudamarinafiji.com A master plan for the site proposes a staged development into an international standard 5 star resort which will include 2 NEW MAN MADE ISLANDS framed by an exquisite “Maldives” style turquoise blue lagoon with over water accommodation. www.firstlandingfiji.com
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OVERWATER OPTIONS!OVERWATER OPTIONS!
PROJECT 2. Vuda Point Ocean Views Estate 180 LOT STAGED HOUSING DEVELOPMENT Located in close proximity and overlooking First Landing Resort, the land subdivision project has been planned as a high quality 5 precinct residential and resort development in a gated secure community in the theme of the highly successful Denarau Island residential and tourism project (www.denarau.com) The Vuda area has a country living appeal, which is different to other built up tourism and residential integrated developments in the Nadi area.
The Vison Developments master plan implements the philosophy of the Denarau Resort & Residential Precincts
Design Objective
To create a quality environment, building on the lands natural attributes which include unsurpassed westerly views over the South Pacific Ocean, to Bligh Water, the Mamanuca & the Yasawa Island chains and the Garden of the Sleeping Giant Mountain Range famous for its orchid gardens to the east.
Protective Covenants Neighborhood friendly architecture & building guidelines to enhance street appeal.
Integrated landscape design Using native theme that anchor the houses in their sites and create a superior outdoor living environment
Sustainable & eco-friendly environment
Grey water & recycle waste management policy
Botanical gardens & park incorporating a bike track
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Recent devaluation of the FJD and a growing understanding that the retirement industry as well as the
prosperous tourism sector are important sources of overseas funds mean that retirement in Fiji remains
a viable option. A number of high standard developments are available and this would be a good time to
buy in.
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180 LOT STAGED HOUSING DEVELOPMENT
Integrating 5 neighbourhoods
with the versatility of the management expertise of First Landing Resort for the purpose of a tourism income return
PRECINCT 1 : Stage I & II : 40 lots : Vuda Ocean Resort & Appartments.
Two stages of 20 Purpose built one bedroom apartments accompanied by a reception and corporate
centre plus centralized pool & recreation area.
PRECINCT I1 : Stage I, II & III : 36 lots: Vuda Fairway Gardens Residential Neighbourhood. Three stages of 12 two & three bedroom luxury villas, includes corporate facilities , private pool , gymnasium , private golf hole & fairway.
PRECINCT III : 10 lots : Vuda Point Residential Neighbourhood. Opulent acre residential lots specifically designed for expats and as a potential immigration destination.
PRECINCT IV: 40 lots : Vuda Retirement Resort & Spa. Retirement enclaves & cluster development.
PRECINCT V: 30 lots plus 24apartment sites : Dreketi Inlet Residential Neighbourhood . A mix of Terrace Apartments & 500 square meter lots.
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Vuda Ocean Resort & Apartments
Invitation Release
RESTRICTED TO 20 ONLY
Leased 3 yrs at $6,500 pa gross
Currency up side $1.00 Aud =$1.80 Fjd Syndication alternative Off shore finance .conditions apply.
Free flight to all option holders
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Option to purchase fee $ 5000.
KPG CAPITALS' WEALTH CREATION PHILOSOPHY:
TAX EFFECTIVE INVESTMENT COUPLED WITH
SUPERANNUATION & RETIREMENT STRATEGIES.
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LAND TENURE
Purchasers will receive a native lease title to their lot under an arrangement similar to strata title. The term of the sublease will expire in 99 years. Native title comprises approximately 85% of the land in Fiji. All native land in Fiji is administered by the Native Land Trust Board who issues all leases. Many of the large integrated tourism and residential developments in Fiji are on Native Land, including the Sheraton Villas, Hilton Villas, and Radisson Apartments. The nature of the title allows for use as either residential or income as the lot is within the First Landing Integrated Tourism and Residential Development at Vuda Point. Owners can, in the future, sell their property for which a sale premium is paid to the Native Land Trust Board. This premium for on sale by the owner is 5% of the unimproved capital value if the land is used primarily for residential purposes and 2% of the sale value if the land is used primarily for tourism purposes. Owners can also use the land as security for bank finance. Foreign investors are able to borrow funds in Fiji to purchase their land subject to commercial bank lending policies and requirements in addition to Reserve Bank of Fiji approval. KPG can recommend local law firms experienced with the sales documents and process to act for the purchaser . Annual rent payable to the NLTB is $F1000 for a quarter acre lot . In addition there is a modest contribution to the maintenance of any common areas If the lot is used for income purposes the annual rent is calculated as a percentage of gross revenue earned (2.75% up to3.5%).
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www.tourism.gov.fj/.../Strategic%20Directions%20Brochure.pdf
Fiji’s tourism development plan 2007-2016 www.fijime.com/tourism-resources/tourism-forum/GuyChester.pdf Fiji’s National Tourism Development Plan indicates the importance of the area where Vuda Point and First Landing Beach Resort is located (within the Nadi Corridor) stating :
The proposed vision for tourism in the Nadi Corridor is to be Fiji’s tourism gateway, offering a thriving Fijian resort destination and provide the hub for access to the rest of Fiji”.
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ANNOUNCING LOOP ROAD PROPOSAL
FOR FULL REPORT www.kpg.net.au click fiji, loop road
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Foreign Investment A move to a foreign locale can seem like a daunting task. For those who are seeking the adventure of either relocating for their retirement or wanting a second home in the island, it is recommended to use the services of a professional company that can assist with all aspects of the purchase of property, immigration and moving logistics. KPGCA IMMIGRATION SERVICES is in the business of assisting overseas buyers and investors in the Fiji Islands. All persons who qualify for "Residence on assured income" in Fiji are granted an automatic year-round visa to reside in the Fiji Islands. A qualified resident is be exempt from the payment of all taxes and duties on all income or receipts which accrue to him or her from a source outside of Fiji whether that income is generated from work performed or from an investment. In addition to that there are NO property taxes in the Fiji Islands. For 12 months after the residency is granted, residents are allowed to import personal belongings duty-free as outlined by the Fiji Customs department . Incentives for Retirees and Overseas Investors in Fiji (2009) A residence permit on assured income may be issued to a person who has assets, realizable to the satisfaction of the Director of Immigration, outside the Fiji Islands at his/her disposal of an amount sufficient to ensure that he/she will not become a charge on public funds. Permits in this category are normally issued to people who are not likely to apply to work in the Fiji Islands. They may invest in any business venture approved by the Fiji Islands Trade and Investment Bureau. The policy on residence permit on assured income is as set out below: * the principal applicant must be at least 45 years of age and carry health insurance; should have an assured income and should not seek employment in the Fiji Islands; must deposit a sum of $100,000.00 in a resident account of a local bank upon approval of the application; or purchased a property in the Fiji Islands, the sum of F$100,000.00 may be waived, however documentary proof of the purchase and value of property is required; * an additional F$30,000.00 for a family of two (2) or F$40,000.00 for a family of up to five (5) members must be deposited annually in the resident account of a local bank; and * the permit holder must obtain clearance from the Immigration Department for any repatriation of funds out of the country before the application is considered by the Reserve Bank of Fiji. Source: (Fiji Immigration) Working in the Fiji Islands: If you feel like you are missing work, you can start a business in Fiji. Foreigners are allowed to start certain businesses by themselves, for certain other a Fijian partner is required. For more information, contact the Fiji Investment Bureau.
Fiji Government Online Portal www.fiji.gov.fj Official Fiji Government website with information about departments, ministries, news briefs, and press releases
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----- Original Message ----- From: YVONNE To: 'David Kirkham' Cc: [email protected] Sent: Wednesday, January 20, 2010 8:57 AM Subject: RE: OUR MEETING ON WEDNESDAY 13TH JAN Bula David, How are you? It was nice meeting you too especially with the inspiration of investing in Fiji. For foreign investors purchasing land and or house and land packages at Vuda point, if it’s a personal investment to reside only then you need not come through FTIB. However you will have to go through the Native Land Trust Board leasing procedures. Procedures : The investor will buy from the developer, subsequently, they enter into a sale and purchase agreement. Once that documented is firmed up, it is then presented to the Native Land Trust Board [NLTB]. The Board will then issue a lease direct to the purchaser as per sale and purchase agreement conditions. The lease will be a 99 year lease. You can always liaise further with NLTB for more information/clarification. I have a document attached for your perusal on guidelines in obtaining Ministerial consent for dealings in Crown/State and Freehold land. It does not really matter where your purchasers are from. They can purchase for personal investment. But once you engage in it commercially for eg: renting and selling then obviously you will require FTIB registration approval to engage in that particular activity. I am attaching the application form for that as well. Take note that on page 5 of the application form are the requirements/documents that need to accompany their application. An application fee of $2812.50 is applicable yet not refundable. I trust that the above will suffice. Please do not hesitate to contact us if you need further assistance. Kind regards Yvonne Ravaga FTIB - LTKA
From: David Kirkham [mailto:[email protected]] Sent: Tuesday, January 19, 2010 9:04 AM To: [email protected] Cc: Fiji Jim Dunn Subject: OUR MEETING ON WEDNESDAY 13TH JAN Bula Yvonne Thank you for your time the other day, it was nice to meet you. Re : Foreign Investors. Please confirm FTIB conditions and regulations for foreign investors purchasing land and or house and land packages at Vuda Point. These potential purchasers will be from but not limited to Australia , NZ, China and South East Asia. Is there a standard application document for foreign investment in Fiji, if so please attach a copy to your letter. David Kirkham
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KPG CAPITAL AUSTRALASIA
----- Original Message ----- From: Sadhna Naidu To: David Kirkham Cc: Fiji Jim Dunn Sent: Monday, January 25, 2010 6:38 AM Subject: RE: OUR MEETING ON WEDNESDAY 13TH JAN Bula David, As per the issues /queries raised by you I believe the land in question is the development lease and the sale would be after the development in your lease conditions is complied with. Therefore:
1. You will have to prepare scheme plan for the s/d to be approved by local authority and Town & Country Planning after sorting the necessary survey approval from us
2. NLTB to be provided with the approved survey plan before we issue registered lease on individual lots subject to payment of our fees/cost as per the condition of your development lease.
3. According to the conditions of residential lease, tenant will have 2 years from date of commencement of lease to erect building for dwelling purpose after building plans are approved by NLTB
4. The current procedure on renewal after expiry is tenant will have to inform us in writing not earlier than 2 years and not later than one year before expiry of their intention to renew and the Board will at that time decide whether to renew or not to renew the lease and the issue of compensation will be discussed then.
Please note that most of the answers to your questions raised herein is already in your lease document. I have attached a copy of same and highlighted in red some conditions that you may need to go through. I hope I have managed to clarify your queries and please feel free to contact me if you still have any questions. Vinaka Sadhna Naidu Estate Officer (NW) Phone: 6661744 ext 107\ From: David Kirkham [mailto:[email protected]] Sent: Tuesday, 19 January 2010 9:27 AM To: Sadhna Naidu Cc: Fiji Jim Dunn Subject: Fw: OUR MEETING ON WEDNESDAY 13TH JAN Bula Sadhna Thank you for your time the other day, it was nice to meet you. Re : Foreign Investors. Please confirm NLTB conditions and regulations for foreign investors purchasing land and or house and land packages at Vuda Point. These potential purchasers will be from but not limited to Australia , NZ, China and South East Asia. Is there a standard NLTB application document for foreign investment in Fiji, if so please attach a copy to your letter. Please also detail the procedure from approval at Lautoka Ruaral Authority for the land sub division to the issuing of the new 99 year leases and the sub lease to the new forigen investor/ purchaser . Please also confirm, from the issue of the new sub lease to the land purchaser, how long before they have to commence building Some of our clients have asked how they re new the 99 year sub lease at its expiration .Could you state NLTB policy on this issue
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David Kirkham KPG CAPITAL AUSTRALASIA
----- Original Message ----- From: Rigamoto Motufaga To: David Kirkham Cc: Fiji Jim Dunn Sent: Wednesday, January 20, 2010 12:59 PM Subject: RE: OUR MEETING ON THURSDAY 14TH JAN Dear Mr Kirkham As per your enquires we advise as follows:
the policy on borrowing to purchase land and house requires that this is to be fully financed from offshore;
where there is a policy allowed for borrowing by non‐resident individuals as per the attached guidelines, applications are to be vetted by the bank to ensure that it falls within our policy and submitted to Reserve Bank;
For future remittance of funds from sale of property, approval is readily given provided the investor has recorded their investment with Reserve Bank (on Form I.3, attached) and is subject to tax clearance from Inland Revenue Department;
Approval of the Reserve Bank is not required for sale of land but requires Minister of Land’s consent;
Exemption for approved project status may be considered if sufficient evidence is provided to satisfy our requirements as per a) in the attached guidelines.
Please let me know if you require further clarifications. Regards Rigamoto Motufaga Manager Exchange Control Financial Markets Group Reserve Bank of Fiji Pratt Street, Suva, Fiji Islands Phone: (679) 322 3368 Fax: (679) 330 7210 Email: [email protected] Website: www.reservebank.gov.fj From: David Kirkham [mailto:[email protected]] Sent: Tuesday, 19 January 2010 10:08 AM To: Rigamoto Motufaga Cc: Fiji Jim Dunn Subject: OUR MEETING ON THURSDAY 14TH JAN Bula Rigamoto Thank you for your time the other day, it was nice to meet you. Re : Foreign Investors. Please confirm RBF conditions and regulations for foreign investors purchasing land and or house and land packages at Vuda Point. These potential purchasers will be from but not limited to Australia , NZ, China and South East Asia. Is there a standard RBF application document for foreign investment in Fiji, if so please attach a copy to your letter. Some of our clients have asked, on the future sale of there land and or it's inprovements, can they retreive their initial capital investment plus profit and capital gains after tax assesment . Could you state RBF policy on this issue At our meeting yesterday with ANZ & BSP they questioned if we require RBF approval for Vuda Ocean View Estates Ltd.( the owner of the land ) to sell to foreign investors and also for those instituitions to supply funding for land purchase and house construction. Is ther a requirement from the RBF for approved project status for Vuda Ocean View Estates Ltd. ( Fiji )
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David Kirkham KPG CAPITAL AUSTRALASIA / VUDA OCEAN VIEW ESTATA
Vuda Point Ocean Views Estate Stage I : Vuda Ocean Resort & Apartments
OPTION TO PURCHASE NAME(S): -------------------------------------------------------------------------------- (in full) ------------------------------------------------------------------------------- ---------------------------------------------------------(“option holder”) ADDRESS -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EMAIL -------------------------------------------------------------------------------- PHONE w------------------------------- H-------------------------------------- SOLICTOR -------------------------------------------------------------------------------- ADDRESS ------------------------------------------------------------------------------- PROPOSED LOT NO ------------------------------ PURCHASE PRICE $------------------------ In consideration of the OPTIONEE paying AUD $5,000 to the trust account nominated by KPG Capital,
KPG Capital grants the option holder an option to purchase the apartment at the purchase price specified above on the following terms. The optionee has 21 Days to execute a contract of sale, the consideration paid pursuant to this option shall be credited to the balance of 10 % deposit being ($)…………….. which is payable on signing of said contract o sale. If the optionee does not proceed, the option fee of $5,000 is forfeited and the optionee agrees that the $5,000, is transferred to an account nominated by KPG FOR THE USE OF SAME FOR KPG EXPRESSED BENEFIT
Date : -------------------------------- KPG Capital Option holder Authorised representive Signiture
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Vinaka Vaka Levu!Vinaka Vaka Levu!
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