| Vanuatu
is situated between Australia and Fiji. Many years ago it was
set up as a tax haven and so far it has resisted pressures from the OECD
and the like to become more "transparent". Recently the government
of Vanuatu told the OECD to "Get Lost" as this small independent
country relies on financial transactions for a significant portion of its
income. Over the past 10 years real estate prices have dropped, mainly
due to the outflux of Japanese investors, who felt the need to return their
funds to Japan, where the economy was floundering.
As such real
estate prices hit an all time low and have only recently begun to recover
slightly.
Let's face
it, where else in the world can you buy 1 acre of superb beachfront land
(with your own white sand beach), less than 10 minutes from an international
airport, and fully protected from large ocean waves by a reef, for less
than US$20,000? The same land in nearby Australia (about 2-1/2 hours flying
time away) would cost at least $2m....if you could find a block with
a similar outlook and proximity to a major centre. |
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This
article presents two golden lifestyle opportunities for those interested
in a fabulous investment in one of the world's most secretive tax havens.
As a newly arrived permanent resident of Vanuatu I have selected two investment
situations that will probably appeal to offshore escape Artists. They are
the BUKURA ESTATE and the HILLTOP ESTATE. I recently
bought a 1 acre block of beachfront land in the Bukura Estate and I'll
tell you about it in a moment. The other estate on a hilltop is very close
to where I currently live and has some of the best views in the whole of
Vanuatu. Firstly, the HILLTOP ESTATE.
The photos
indicate the type of views available from every block in this small estate.
Basically this is an unrestricted harbour view situation and as Port Vila
(the capital of Vanuatu) has one of the world's cleanest and visually stunning
harbours, and if you acquire one of these you are truly "overlooking
paradise". This is a brand new subdivision situated on one of
the highest points above the commercial and population centre of Port Vila.
This small
subdivision contains only 12 blocks and is about a 4 minute drive down
to the main township. These 12 blocks face northwards and overlook the
main wharf where the cruise ships berth. They capture the prevailing breezes
and are way above the humidity laden air which builds up at the lower sea
levels. |
| The
actual live views are somewhat beyond belief.
Prices range
from US$27,000 to US$45,000 which is ridiculously cheap. All 12 blocks
will be serviced with water, electricity and phone and the road will be
tarsealed. As Vanuatu is basically an undiscovered tropical tax haven it
won't be long before any type of real estate with a harbour view will be
sold out.
The interesting
thing is that major world business players like Kerry Packer have moved
into Vanuatu. Packer has opened his internet gambling casino here after
finding the nearby Australian red tape too difficult and expensive.
It is easy to do business in Vanuatu because the government here welcome
entrepreneurs.
Once the EscapeArtist
types discover this place property prices will escalate dramatically. The
main commercial and population centre of Port Vila is currently undergoing
a burst of new development with a new sealed ring road through and around
the main town. The national airline of Air Vanuatu are reportedly planning
extra aircraft capacity in the near future. The near new Boeing 737 they
currently use is leased from QANTAS (who also handle the maintenance) and
covers the route to Australia and New Zealand on a daily basis.
Secondly, the
BUKURA
ESTATE.
This 80 block
oceanfront estate is diagonally opposite the Hilltop Estate, on the opposite
side of the harbour. The owners of this estate are now split up and living
all over the world. As such the pricing has been made extraordinarily cheap
so that they can collect their money and get on with their lives. People
who visit my 1 acre block at Bukura simply do not believe how little I
paid for it....especially when they view my private beach. The sizes of
these 80 blocks vary from 1 acre to 2 acres. Some have white sand beaches
but the majority have coral frontage. However it is relatively easy
to cut a track down through this coral to access the water. |
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All
lots are absolute oceanfront and a gravel road runs along the back of each
block so there is all-weather easy access to town. The drive to the International
airport takes around 10 minutes and it is about 15 minutes into Port Vila
itself. Traffic moves American style on the right hand side of the road
and there are no traffic lights or police speed cameras in Vanuatu. This
subdivision is inside the main harbour of Port Vila and is protected by
a reef. On the inland side of this estate is a 800ft - 900ft hill range
which protects the estate from the occasional cyclone which usually arrives
from the north. That is, from behind this hill.
The reef protects
the estate from the rare westerly cyclone. The area abounds in fish, coconut
crabs and lobster (I snorkel out and catch my own) and as the water is
fairly shallow due to the sloping reef it retains a warm temperature, even
in winter. At the edge of this reef there a brilliant scuba diving areas.
The internationally famous Hideaway Island is only a short distance away
(about 10 minutes in my Zodiac inflatable) where superb Island food and
scuba diving are the main attractions. I am currently having a 2 bedroom
bungalow built on my land. This is constructed out of rendered Besablock
and built to Australian cyclone standards. The whole job with septic tank,
electricity, phone, large outdoor patio and toolshed is costing me approximately
US$16,000 in total. |
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| The builders
set crab traps on the beach each night and in the morning collect all the
coconut crabs for lunch. They also borrow my fishing net and catch a batch
of fish several times a week. Takes them around half an hour to collect
a bucket of highly edible fish. The estate is loaded with natural foods
such as coconuts, lemons, grapefruit and there seems to be pumpkins growing
everywhere. The soil quality is excellent and everything I have planted
over the past 3 months has taken root. My block also has a fresh water
well. The pure water was reached at a level of only 23ft. I will use this
as a backup in case the main water supply should ever fail.
Prices of these
blocks vary between US$18,000 and US$25,000 which I think is ridiculously
low. At the time of writing half the blocks have been sold, mainly to Australians
and New Zealanders who are only 2-1/2 hours flying time away.
Having spent
42 years in business, five of those selling real estate in Australia, I
have concluded that my beach front land at Bukura is exactly what I have
been searching for the past 42 years. It is my personal piece of paradise!
James.
Recent photos
and tax haven data can be obtained from my website at http://www.mindtech.com.vu
-
Maps of
Vanuatu - Maps
of Vanuatu - A large number of differing Vanuatu Islands maps, including
city maps. |
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