The Caribbean Property Investor Issue 5 by 7th Heaven Properties

Money Retirement & Offshore Banking

Life & Style Golf, Fashion, Art & Private Aircraft

Prime Property Luxury Homes & Commercial Investments

The CARIBBEAN THE DEFINITIVE GUIDE TO PRIME PROPERTY & LUXURY LIFESTYLE

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

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DIAMONDS INTERNATIONAL, Antigua, Barbados, Cayman, Cozumel, St Lucia - GEMANI, Aruba - ULTRA JEWELS, Cancun - ROYAL CARIBBEAN, St Thomas - LITTLE EUROPE, St Marteen - FREEPORT JEWELERS, Curacao QUANTUM, Bahamas - CASA DE ORO, Jamaica - CARAT, Guadeloupe, Martinique - GOLDFINGER, St Barth, St Martin

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C ON T E N T S

IN BRIEF

MONEY

LIFE & STYLE

17 NOW Caribbean property market news and trends

37 Special Feature: Sunshine Years Retiring to Central America

49 Slice of the Caribbean 7 of the Caribbean’s top golfing destinations – exclusively in association with OMEGA

24 Why I Love the Caribbean An interview with “King of Magic” David Copperfield 30 New Wave of Water Toys Seven of the best water toys and accessories

37 Belize by Hon. José Manuel Heredia Jr., Minister of Tourism & Culture 38 Panama by H.E. Ambassador Daniel Fábrega, Ambassador of Panama to the UK 39 Special Feature: Heading Offshore An in-depth look at offshore banking in the Caribbean 39 Tried, Tested, True Barbados by Derek W. Cummins, J&T Bank and Trust Inc. 42 A Royal Reward Cayman Islands by Giselle Busby, Republic Bank (Cayman) Ltd 44 The Antigua Advantage Antigua by Michele Delco, PKB Privatbank

58 The Joy of Flight Travelling by private aircraft

62 Maritime Chic Fashion for her: Get ready for a summer of stripes 64 All at Sea Fashion for him: A classic, easy take on nautical style

66 The Sculptor Making a Splash An interview with underwater sculpture maker Jason deCaires Taylor 74 Bathe in Glory Expert ideas on how to create a blissful bathroom 80 Quest for Perfection Don Q’s journey to becoming Puerto Rico’s best-selling rum

Team

Founder: Walter Zephirin Editor-in-Chief: Robert Cooper Consultant: Brigitte Pool Design and Art Direction: Kuchar Swara, Ling Ko Illustration: Toby Morison Photo Retouching: Emily Zarb Advertising: +44 (0)20 8960 1010 Contributors

Mariel Asencio, Bailey S. Barnard, Leo Bear, Victoria Gaiger, Linda Garland, Zoe Dare Hall, Keith Hobbs, Ann Hodges, Fatima Thompson Copyright © 2014 7th Heaven Properties Ltd. All rights reserved. Whilst every effort has been made to ensure accuracy of all contents, 7th Heaven Properties Ltd cannot be held responsible for any errors or omissions. All material published in The Caribbean Property Investor is copyright and reproduction, in whole or part, without written permission is strictly prohibited. The editors and publishers of this magazine make no representations regarding any goods or services advertised in this edition. All prices are correct at time of going to print, but subject to change.

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

Antigua Abbott’s Jewellery • Aruba Gandelman • Bahamas John Bull • Barbados Little Switzerland Bermuda Crisson • Cabo San Lucas UltraJewels • Cancun UltraJewels • Cozumel UltraJewels Curacao Old Freeport Jewelers • Grand Cayman Kirk Freeport • Jamaica Tropicana Jewelers • Key West Little Switzerland Mexico City Saks, Centro Sante Fe • Playa Del Carmen UltraJewels • Puerto Rico Reinhold Jewelers St. John Little Switzerland • St. Lucia Harry Edwards Jewelers • St. Maarten Artistic, Art of Time St. Thomas Jewels, Little Switzerland • Tortola Little Switzerland • Turks & Caicos Jai’s

C ON T E N T S

PROMOTIONS 46 Building on Success Sales Director of The Landings in St Lucia announces the launch of new residences 56 One Week in… St Lucia The General Manager of St Lucia’s new Capella Marigot Bay resort on what to see and do while visiting the island 72 Get Fresh Customize your showering experience with Kohler’s new DTV+ Digital Showering System

92 Star Quality Celestial House, one of the most desirable homes for sale in the BVI

120 Welcome to Saint Lucia Why Saint Lucia is one of the best places to do business in the Caribbean

114

128

RESIDENTIAL

COMMERCIAL

85 86 87 88 89 90 91 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115

117 A Promising Pipeline STR Global analyses the Caribbean hotel sector

Anguilla Antigua & Barbuda Aruba, Bonaire & Curacao The Bahamas Barbados Belize British Virgin Islands Cayman Islands Costa Rica Dominica Dominican Republic Grenada Jamaica Mexico Montserrat Nicaragua Panama Puerto Rico Roatán St Barts St Kitts & Nevis St Lucia St Martin – St Maarten St Vincent & the Grenadines Trinidad & Tobago Turks & Caicos US Virgin Islands

118 Growth Opportunity An interview with Gabriel Torres, VP at Moody’s, on the Caribbean economy

122 Changing Rooms What developers need to know about the evolution of the resort bathroom 124 Dominica Beachfront hotel for sale

125 Jamaica 284 acres of beachfront land for sale 126 Montserrat 13 acres of seafront land for sale

127 Puerto Rico 205 acre beachfront development site for sale

128 St Lucia 30 acres of waterfront land for development 129 St Vincent & the Grenadines Private island resort for sale

130 Turks & Caicos Exclusive beachfront development opportunity

The Caribbean Property Investor Magazine is published by 7th Heaven Properties Ltd, the luxury Caribbean property specialist: www.7thHeavenProperties.com. Our extensive portfolio of residential and commercial property listings spans the entire Caribbean region, including the Central American countries with a Caribbean coastline. As experts in the market, we are ready to introduce you to the region’s most exceptional investment opportunities through our powerful network of handpicked, trusted partners. To enquire about all properties mentioned in this magazine, or to advertise in future editions, please contact: UK: +44(0)20 8960 1010, US/Canada: 855 364 8776, E-mail cpi@7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

Celestial House, Tortola, British Virgin Islands (page 92)

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Aruba - Barbados - Dominican Republic - Grand Cayman - Nassau Puerto Rico - St. Barthelemy - St. Maarten

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W E L C OM E & G U E ST C ON T R I BU TOR S GUEST CONTRIBUTORS Minister of Tourism & Culture Hon. José Manuel Heredia Jr. Hon. José Manuel Heredia Jr. is the Minister of Tourism & Culture of Belize. Certified in Mechanics, Navigation, and Cooperative Movement at St. Francis Xavier University in Canada, he was elected Mayor of San Pedro Town and subsequently elected three times as Area Representative. Minister Heredia has served as President of the Lion’s Club and Caribbean Fishing Cooperative, Vice-Chairman of the Belize Fishermen Association and he is a member of the Universal Peace Federation.

Welcome Welcome to the fifth issue of The Caribbean Property Investor magazine, the definitive guide to prime property and luxury lifestyle in the Caribbean from 7th Heaven Properties. After several years of caution, I am delighted to report some optimism in the air. The largely tourism-dependent Caribbean economy is showing signs of growth. Visitor arrival numbers are up, tourist spending is increasing and airlines are adding additional flight routes to the region. In a further demonstration of confidence in the region’s tourism sector, several luxury hotels are opening their doors – Capella Marigot Bay in St Lucia and Gansevoort Playa Imbert in the Dominican Republic to name just a couple. Where hotels lead, property buyers often follow. A raft of new resorts and residences have been announced by hoteliers such as Kempinski, Ritz-Carlton and Rosewood and investors are eyeing up new greenfield sites in Antigua, Turks & Caicos and Panama. In some cases, buyers are attracted to tax incentives and Citizenship by Investment schemes, but these are not the only factors at play. For many, the region’s main draws are its high quality of life, good value for money and stability. In a world of increasing volatility, this proposition has more appeal than ever before. Of course the Caribbean varies widely from location to location, but whether your preference is for unwinding away from the crowds on tiny, quiet Montserrat or soaking up the sun in sophisticated, cosmopolitan St Barts, 7th Heaven Properties would be delighted to assist you in your search for Caribbean real estate. To discuss opportunities aligned to your particular investment objectives and for details on any of the investment opportunities showcased in this issue, please do not hesitate to contact us. Our team of specialists in the UK, the USA, Canada and the Caribbean prides itself on offering a highly personalised service and dedication to matching you with the property of your dreams.

As part of our special feature on Retirement, the Minister introduces the benefits of Belize (page 37). H.E. Ambassador Daniel Fábrega Ambassador Daniel Fábrega is Ambassador of Panama to the UK. The Ambassador’s academic background combined with his distinguished career in both local and global business and finance, position him well to represent the people of Panama in the Court of St. James’s. Mr Fábrega was educated in Panama and the United States, earning a Bachelor’s Degree in Business Administration at Loyola University, New Orleans, followed by a Master’s in Business Administration at the ULACIT in Panama. Also part of our special feature on Retirement, the Ambassador discusses the incentives offered by Panama’s program (page 38).

We look forward to hearing from you. Walter Zephirin Founder 7th Heaven Properties The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

engineers of emotions

858 Fantom www.frauscherboats.com

F ROM T H E E DI TOR & G U E ST C ON T R I BU TOR S Gabriel Torres Holding a Master’s Degree in Economic Policy from Columbia University, Gabriel joined Moody ’s Sovereign Risk Group in 2007. His current portfolio is composed of credits in Latin America and the Caribbean, as well as the Middle East. Prior to joining Moody’s he worked as a sovereign and banking credit analyst at ABN Amro. He also has experience rating and structuring international securitizations. For this issue, Gabriel discusses the Caribbean economy (page 118).

From the Editor Well before the days of constantly ringing mobile phones and the unrelenting pressure to immediately respond to email and social media, Anthony Burgess (author of A Clockwork Orange) wrote: “To be left alone is the most precious thing one can ask of the modern world.” It’s almost three decades since he wrote those words and during the intervening years, peace and quiet has become more precious than ever. Today, technology intrudes on our lives in a way that Burgess could probably not have imagined. Privacy has therefore become a valuable commodity. While better connected by air links and Wi-Fi than ever before, the Caribbean can offer this in abundance. So, with that in mind, we begin this issue with a roundup of what’s new in the Caribbean property world (page 17), touching on the real estate sector’s antidote to intrusive modern life: private island homes. We also talk to David Copperfield, the most successful solo entertainer in history, on why he chose to acquire his own private archipelago in The Bahamas (page 24). Our Money section includes a special feature on the advantages of leaving behind a stressful lifestyle and retiring to Central America (page 37), as well as a series of articles on the privacy afforded by offshore banking in various Caribbean jurisdictions (page 39). In Life & Style, we present the Caribbean’s top golfing destinations to escape to exclusively in association with OMEGA (page 49) and take a look at the pleasure of travelling by private aircraft (page 58). We also talk to underwater sculpture maker Jason deCaires Taylor about his work in Grenada, Mexico and The Bahamas, including a piece commissioned by our favourite “King of Magic” for the Islands of Copperfield Bay (page 66). Finally, in our Commercial section, we talk to an expert from Moody’s about the outlook for the Caribbean economy (page 118), present a selection of the region’s most exciting commercial investment opportunities (page 124) and ask the experts about how resorts can create the ultimate private sanctuary from the troubles of the world around us – a breath-taking, blissful bathroom (page 122).

Derrick Cummins Derrick Cummins is the Interim CEO at J&T Bank and Trust Inc. He has over twelve years’ experience in portfolio management in the offshore sector in Barbados. He has worked as the Senior Economist at the National Productivity Council, Senior Research Officer at Barbados National Insurance Office and Associate Portfolio Manager at CIBC Offshore Bank. With a Masters in Finance and Management, he also tutors Financial Management at the University of the West Indies. Utilizing his expertise, he provides an overview of offshore banking in Barbados (page 39). Giselle Busby Managing Director of Republic Bank (Cayman) Limited, Giselle Busby has been a banker for 20 years and has extensive knowledge and experience in the areas of Trust and Asset Management, Treasury and Corporate Finance. Ms Busby holds a BSc in Management Studies from the University of the West Indies and a MBA from the University of Manchester. Also as part of our special feature on offshore banking, she clarifies the benefits of the Cayman Islands (page 42).

Robert Cooper Editor-in-Chief The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

IN BRIEF

NOW DAVID COPPERFIELD WATER TOYS

NOW ◊

◊

Parrot Cay, Turks & Caicos

A roundup of the latest market news & trends in brief from around the region by Zoe Dare Hall

Fantasy Islands The world’s wealthy are island-hunting for lifestyle and investment There are two ways to enjoy the luxury of private island life. The first is to own the entire island yourself and be the king of the castle. The second is to buy into a highend resort and share your gilded outcrop. Scarcity and exclusivity make private island homes an attractive investment – and there are some tempting opportunities of both types coming onto the market. Young Island in the Grenadines has 29 guest cottages and plenty of potential to build more. It also comes with a 48-year glittering track record and is now up for sale. Other islands on the market include the 435-acre Water Cay in the Turks & Caicos, plus several islands in the Grenadines, the Bahamian archipelago of The Exumas and Pana-

ma’s Pearl Islands. For those happy to share their island, Uptown Girl turned barefoot luxury queen Christie Brinkley is selling her 3 bedroom beachfront home on the award winning Parrot Cay in the Turks & Caicos. With a similar setting, there’s Pearl Island in Panama, a five-star resort with marina and nature reserve. For details on all these private island investment opportunities, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

Maho Beach, St Maarten, ©iStock.com/jcarillet

IN BRIEF NOW

Go Easy Cheaper flights and new routes could tempt more visitors to the Caribbean In times of austerity, cheaper flights to the Caribbean seems an unlikely Budget pledge – but that’s what Britain’s Chancellor of the Exchequer George Osborne promised, and from April 1st 2015, the tax on longhaul flights will be cut as part of reforms to Air Passenger Duty (APD). The move could save a family of four hundreds of pounds when flying to the Caribbean. New airports, upgraded terminals and new flight routes will also tempt more people to visit – and invest in – the Caribbean. In The Bahamas, Nassau’s Lynden Pindling International Airport has just completed a four-year, US $410 million redevelopment project to increase its capacity to 5 million travellers per year. Dominica is

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

working on plans to build its own international airport with its government in talks with Chinese private developers. The Dominican Republic, meanwhile, is among the islands to benefit from increased flights. BA has launched a new direct route from London Gatwick to Punta Cana, while United Airlines now flies to there from various US cities and United Airlines offers a year-round Saturday service from Houston. Other new Caribbean routes include seasonal Saturday services to Nassau from Pittsburgh and Indianapolis with Delta Airlines as well as new flights to Costa Rica, Puerto Plata (Dominican Republic) and St Lucia with JetBlue and Delta.

Image courtesy of the Haitian Ministry of Tourism

Turning the Tide New Caribbean markets are confounding expectations and opening up to investors While the Caribbean’s core markets dust themselves off, new markets are entering the fray to compete for foreign visitors and investors. Cuba is pushing ahead with its tourist drive by offering one-year ‘temporary residence’ visas to foreigners. Its new Foreign Investment Law also dangles a carrot in the form of tax breaks. Haiti is looking to challenge the preconceptions it has been hampered by and court tourism. There is a vision for the country’s biggest tourist development along the pristine coastline of Cotes-de-Fer, a new international airport and a cruise port on nearby Ile de la Tortue, and there are rumours that the Six Senses resort brand is eyeing up Ile a Vache for a future project. New

direct flights from Miami will help put the island on the map. Also one to watch is Nicaragua, which has been named by Huffington Post as one of the best ‘under the radar’ destinations of 2015 – a less expensive, less developed version of neighbouring Costa Rica. Plans for a Chinese-backed US $50 billion canal to dwarf Panama’s would be the largest infrastructure project in Latin America in 100 years. Honduras’s Caribbean coast also has something of interest to investors with plans for a 750-acre resort and the country’s first 18hole golf course.

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

Villa Sales & Rentals • Resort Developments Estate Property • Holiday Homes

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T: (268) 562 8474 • F: (268) 562 8473 • E: info@ilis.ag • Suite 201, Village Walk Mall, Friars Hill Road, Antigua

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Image courtesy of St Kitts Tourism Authority

IN BRIEF NOW

Roads to Citizenship Islands want some of St Kitts’ citizenship scheme success Such has been the success of St Kitts & Nevis’s Citizenship by Investment Program that the islands have repaid some US $17.1 million of debt to the IMF ahead of schedule – the first time any payment of this magnitude has been made early by a Caribbean nation. St Kitts & Nevis is estimated to have seen the strongest economic growth in the Eastern Caribbean in 2014 at 3.5% – with a similar outlook for 2015 - according to the IMF’s World Economic Outlook Report. Much of its growth is attributed to overseas investment through the passport program, which offers citizenship in return for a minimum US $400,000 investment in property. Many other islands have followed St Kitts’ lead in launching citizenship by investment programs, including Antigua, which is seeing an influx of foreign money as a direct result of launching its program in 2013, in-

cluding an expected US $1 billion from Chinese group Yida International Investment for a mega-resort and the Caribbean’s biggest casino. Such investment, says Prime Minister Gaston Browne, will “transform Antigua into an economic powerhouse”. St Lucia is considering adopting a similar Economic Citizenship Program. Governor General Dame Pearlette Louisy has stated that “this matter will be addressed with urgency during the current parliamentary year”. For details on qualifying property developments, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

Above: David Copperfield Left: Beach at Musha Cay, Aerial

IN BRIEF DAVID COPPERFIELD

Why I Love the Caribbean

An interview with “King of Magic” David Copperfield, the most successful solo entertainer in history, on his private archipelago of 11 enchanting islands in The Bahamas RO B ERT CO O P ER

Musha Cay and The Islands of Copperfield Bay are absolutely spectacular.Why did you choose these islands in particular? I searched around the world visiting various islands. I visited the classic places: Tahiti, Bora Bora, Fiji, the BVI… They’re all really beautiful and have their own unique traits. In The Exumas in The Bahamas you have a unique combination of water that looks amazing, like the Maldives, and I was able to find a string of islands that also had elevation – height for the islands themselves. Often you find really beautiful water but the actual land is flat, or amazing jungle but the water is less special. I wanted to find a grouping of islands where the centerpiece islands looked like an island you dreamed of as a child. A very unusual combination. And I just fell in love with the people and the opportunity to create amazing things.

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

IN BRIEF DAVID COPPERFIELD

It wasn’t just how many islands – it was a palette to create a different kind of magic, a different kind of experience for people. So that’s where it began. When you first visited the islands were they completely undeveloped, completely uninhabited? No, one of them was being developed at that time for someone’s personal use. And then years passed after I first saw it and it had been turned into a bespoke chartering experience, much like chartering a yacht. The island would be rented to one family or group at a time. They were looking to sell it. I realized that I could also acquire the islands around it. So, if I were to make it an experience to share with other people I could give them real privacy, because not only could I secure one island with staff quarters, but the islands around it for people who might be interested in enjoying the hard work I was about to put into it. So, we embarked on a 5-year, $35 million renovation, changing every generator, every piece of furniture, every wall covering, every towel, the water makers, the generators, the golf carts – every single thing was transformed, little by little, step by step over a period of 5 years. I got a chance to put my own stamp on it. The bones were great, but, with island properties, it is important to face the challenges of salt air and salt water. It takes a bit of understanding of those challenges. But, for me, it is extremely worth it. There are design influences from everywhere from Bali to Burma? What were your main sources of inspiration? As I travelled the world as an entertainer, I met a lot of people with a lot of gifts and saw a lot of things that represent vacation, wonder, travel, exploration. The entire island has become an adventurer’s club. There are rooms based on Africa, rooms based on Burma, rooms based on Bali. When you go there you feel a lot of soul. There’s lots of art and artefacts I discovered around the world. Every room has a story. There are rooms dedicated to Houdini – a very important figure in my business. Houdini’s pool table is there. All the artefacts on the wall belong to Houdini so when you are playing pool in the room you are surrounded by the belongings of one of the legends of my business. The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

“When you go there you feel a lot of soul. There’s lots of stuff I discovered around the world. Every room has a story.”

Left: Flight Team Right: David Copperfield in Rudder Cave

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

IN BRIEF DAVID COPPERFIELD

Above: Palm Terrace Living Room, courtesy of Homer Anthony Liwag Left: Welcome Statue, courtesy of Homer Anthony Liwag

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

So you’ve managed to sprinkle a little bit of magic on the islands as well? I guess you could put it that way. Everywhere you look, even the gym is based on Jack Johnson, the famous boxer played by James Earl Jones in the movie The Great White Hope. There is a statue in front of the gym of the fighter that was beneath the Eiffel Tower a hundred years ago. If you want to read the story and hear about his journey, you can choose to do that. If you want to hear about Houdini, you can do that. If you want to hear about the stories of the island, you can do that. Many people just feel the detail, but if you want to look deeper, there is a lot to discover. Well, you have done an amazing job. I love your attention to detail, not only to the property, but to everything around it as well. I know, for example, that you worked with Jason Taylor on an underwater sculpture… He is a brilliant, brilliant guy and we collaborated. Not only is it a sculpture, it is a sculpture that is a piano and, the lower you get, you can actually hear the piano playing. There was a book that I wrote that was illustrated by a friend of mine, the Director of Shrek II, about a sailor, a grand piano and a mermaid, so you swim down to the mermaid at the bottom of the ocean and you can hear the piano playing. It is an immersive, interactive experience. With multiple live shows on every day at the MGM Grand in Las Vegas, you are an incredibly busy man. How much time do you actually get to spend on the islands? I go there up to 10 weeks a year. When it is chartered, obviously I don’t go there. During the 10 weeks I’m not performing I either go there or travel with my family. How do you like to spend your time there? With what we’ve designed, it can be anything you want it to be. It is really a bespoke experience – it really becomes fantasy island. If you want to go there and be James Bond, we’ve got helicopters that appear on the beach. We’ve got laser tag experiences – all themed to a James Bond kind of adventure. We’ve got a treasure hunt experience where you can hear music as you travel around the island uncovering clues, some of which are magical. You can levitate on the beach, you can watch your friends head get cut off on a giant guillotine. We have a movie theatre that appears on the beach. But, many people choose to do absolutely nothing, which is as good as anything. Just having the privacy of the island is experience enough. So, every time I’m there, to answer your question, I take some of the ideas I’m working on, and try the experiences out. Are you planning on developing any of the other islands? Perhaps - We do have plans. Taking it little by little. Some of the plans we have for the other islands we might be doing on Musha, the main island. Although the island next to us is 450 acres, which is a great opportunity. A lot of the ideas are being put on the original island, which allows us to leave the other islands pure and unspoiled.

Musha Cay and the Islands of Copperfield Bay are available for private hire. For details, see www.mushacay.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

IN BRIEF 7 OF THE BEST WATER TOYS

New Wave of Water Toys Caribbean living is ideal for relaxation, but for a little more adventure, the world’s ultimate water toys and accessories can provide hours of amusement. Here are 7 of the best BAILEY S. BARNARD

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Powered Surf â&#x20AC;&#x2122;s Up Over the last few years, the recreational powered surfboard has spawned a global professional circuit, with boards that can reach speeds as fast as 60 km/h. The Czech company Jet Surf is among the leading manufacturers and produces boards for professional and recreational riders. Though designed for more casual users, its US $15,000 Jet Surf Ultra Sport model still tops out at about 48 km/h and zips through turns. Like the other

Jet Surf models, it is shaped more like a wakeboard than a surfboard and features a small low-emission gas-powered engine; the handheld control device is tethered to the board and runs on a rechargeable battery. The Ultra Surf â&#x20AC;&#x2122;s 2.5-litre 86 cc motor allows for about 1.5 hours of riding. The Ultra Surf is simple to learn and so fun that buying a pair of them is likely to incite some amateur competition. www.jet-surf.com

Underwater Power Seabob underwater scooters are practically requisite aboard mega yachts and at many Caribbean beach resorts. Users hold onto the device (and are secured to it via a safety-release belt) and it pulls them using battery-powered water-displacement propulsion. The US $13,000 Seabob F5 S can reach speeds up to 20 km/h on the surface and 15 km/h below water, and it can dive as deep as 40 metres. Steering grips, trigger thrusters, six power levels, and a heads-up colour display give users the utmost control of the experience, which can last a full hour on a single charge. Seabobs are the ideal companions for diving, snorkelling, or simply cruising around the water. www.seabob.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

IN BRIEF 7 OF THE BEST WATER TOYS

Video Extreme The miniature, rugged video cameras from GoPro instantly turn any activity – from extreme sports to snorkelling – into something that must be captured in high-definition. Among its newest cameras is the $500 top-of-the-line GoPro Hero4 Black, which beautifully captures high-frame-rate 4K video, 12-megapixel photos, and professional-grade audio, and it offers a number of settings to adjust the image. With built-in Wi-Fi and Bluetooth, the camera easily syncs with a supplied remote and the GoPro smartphone app. Accessories include high-impact cases, one waterproof down to 60 metres, and GoPro offers mounts for everything from bikes and boards to hats, helmets, and even dogs. www.gopro.com Water Spark Sea-Doo personal watercraft have become essential water toys for yacht owners, beach-home owners, or just about anyone who regularly takes lakeside or seaside vacations. The Sea-Doo Spark is perhaps its most versatile model. Available in either two- or threeperson configurations, the Spark is light enough to be towed behind even a small sedan, though its 899 cc Rotax engine gives it a potent power-to-eight ratio. It can reach about 64 km/h and it burns about 35 percent less fuel than most competitors; it is able to operate for about 4 hours on a single tank. Priced starting at US $5,000 (MSRP), the Spark is available in a variety of vibrant colors and with plenty of customization options and upgrades, including multi-color geometric paint schemes and Sea-Doo’s patented Intelligent Brake and Reverse system. www.sea-doo.com

Under Pressure Form meets function in the IWC Aquatimer Deep Three, which utilizes a complex mechanical system of internal spring membranes and levers to display the wearer’s depth with a blue indicator on the left side of the watch face. Meanwhile, a pawl keeps a red mark in place on the same dial to indicate the greatest depth achieved (down to 50 metres); a button on the side of the case resets the depth. This system allows divers to accurately time their decompression stops. And with a matte titanium case, black rubber strap, antireflective sapphire glass, and a sturdy but understated design for the case and watch face, the Aquatimer Deep Three is sophisticated enough to pair with both causal and formal attire. www.iwc.com The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

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©2014 Bombardier Recreational Products Inc. (BRP). All rights reserved. ™, ® and the BRP logo are trademarks of Bombardier Recreational Products or its affiliates. Products are distributed in the USA by BRP US Inc. †GTX is a registered trademark of Castrol Limited used under license. 1Intelligent Suspension (iS) available on the GTX Limited iS 260. Manual suspension available on the GTX S 155. 2Suspension travel changes per suspension type. Always ride safely and responsibly. Not all riding conditions are appropriate for inexperienced or beginner riders. 2107420

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

IN BRIEF 7 OF THE BEST WATER TOYS

Beautiful Beast The Frauscher 747 Mirage is the newest day cruiser from the Austrian builder. The 7.47-metre boat delivers sporty handling and a smooth, wave-cutting ride. Extended water lines and dual spray rails settle the bow for stability at high speeds. It reaches a top speed of 104 km/h with the most potent of three engine options, a 430 HP Mercruiser 8.2l petrol engine. An optional bow thruster makes for easy docking and low-speed manoeuvring. The cockpit is lined with teak, with seating for up to six passengers. The backrests folds down to create a large padded lounge aft, and the cushion can be relocated to create an additional sunbed. Niceties include a stereo system with Bluetooth and iPhone connectivity, a small refrigerator, and a fold-up bimini top for shade. The 747 Mirage starts at about US $150,000. www.frauscherboats.com

Rare Bird The roughly US $1.7 million Deep Flight Super Falcon winged submersible – only three of which are currently in operation – is the ultimate water toy. Using principals of reverse lift, the 1.6-metre sub flies under water like a fixed-wing aircraft flies in the sky, its batterypowered thrusters pushing it downward as it accelerates to a cruise speed of 4-6 knots and to depths of 120 metres. All Deep Flight craft are positively buoyant, meaning they automatically float to the surface in case of mechanical failure. Though learning to pilot the sub requires a detailed training course, it is fairly intuitive to operate. Its two crew sit tandem with their legs extended, and the sub’s dual acyclic canopies give them both unrivalled views of the ocean’s depths and marine life. www.deepflight.com

As a staff editor at both Robb Report and TONEAudio magzines, Bailey S. Barnard has a keen eye for craftsmanship and quality. He is also a self-proclaimed tech junkie and hi-fi nerd, a lover of music and movies, and an aspiring novelist.

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

R E L O C AT I N G O F F S H O R E

Idyllic

Finding a location that offers the very best tax advantages might be your driving force, but choosing a jurisdiction that is to become your home is about much more. The key is to settle somewhere that works for your wealth but, first and foremost, works for you and your family too. The British Virgin Islands, Cayman Islands, Guernsey and Jersey are independent, low or no tax jurisdictions. They are cosmopolitan islands that offer a beautiful, secure place to live with traditional values sitting at the very heart of our contemporary lifestyles. Respect and privacy are enjoyed. Business and leisure opportunities abound, the schools are superb and the health services on these islands are first class.

International Law Firm of the Year

Ogier Contacts For more information about relocating offshore please contact: David Cooney Counsel - High Net Worth Relocation Asia and Caribbean

Jonathan Hughes Partner - High Net Worth Relocation Europe

+1 345 815 1851

ogier.com

+44 1534 504111

Information on the Ogier Group and details of its regulators can be accessed via our website.

Private Client and Trusts Law Firm of the Year 2014 in Cayman and Guernsey

MONE Y

SPECIAL FEATURE:

Sunshine Years Each year millions of people from across North America and Europe visit the Caribbean and Central America. In search of a laid back lifestyle in the sun and higher quality of life, thousands choose to stay for good by participating in programs which incentivise retirees to relocate. Here, the Tourism Minister of Belize and Panama’s Ambassador to the UK outline the benefits of their countries’ respective programs

SUNSHINE YEARS: BELIZE & PANAMA HEADING OFFSHORE: BARBADOS, CAYMAN & ANTIGUA

BELIZE

Hon. Jose Manuel Heredia Jr. Minister of Tourism & Culture Home to vast forests, endless Caribbean beaches and the world’s second longest barrier reef, Belize is a land of intoxicating natural beauty. It also offers one of the region’s most attractive retirement programs. Here, the Central American country’s Tourism Minister explains how it works Located on the eastern coast of Central America bordering Mexico to the North, Guatemala to the West and the crystal clear Caribbean Sea to the East, Belize is a strikingly beautiful country with a vibrant culture and unique appeal for visitors, investors and retirees. The only English speaking country in Central America, located just hours from all major U.S. hubs, Belize boasts a growing economy, booming tourism sector, captivating Mayan ruins, long white sand The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

MONEY SUNSHINE YEARS beaches fringed by gently swaying palms and a coral reef-filled underwater world that has to be seen to be believed. With all this, it’s no wonder that we attracted over a million visitors in 2014. It’s also little wonder that many choose to stay. We are considered one of the best places in the world to retire. Belize was, for example, ranked among the top 20 countries in the world for Quality of Life in Natixis Global Asset Management’s 2014 Global Retirement Index – ahead of Australia and the USA. Thousands of retirees (primarily from the USA and Canada) have chosen to retire here, including 700 participants of our Qualified Retired Persons (QRP) program. The QRP program, which was introduced by the Belize Tourism Board (BTB) in 2000, allows expats from any country to relocate to Belize as a ‘Retired Resident.’ The program also offers a wide range of incentives, including exemption from tax on all income from sources outside Belize, as well as duty and tax free importation of a vehicle, a boat and a light aircraft. Retirees under the QRP program can also import their

personal effects and household items duty and tax free during the first year of moving to Belize. To qualify for the QRP Program applicants must be over 45 years old and have a minimum monthly income of US $2,000, generated from investments, pensions or annuities. The spouse of the applicant, as well as any children under the age of 18 or children enrolled in college, can be included in the application. Once a complete application is received by the BTB, the entire process takes about 4 to 6 weeks for approval. To keep QRP status, retirees are required to spend at least one month in Belize. Important to note, QRPs are considered non-residents for purposes of banking, which means they can open a U.S. dollar bank account with a local or offshore bank in Belize. QRPs are also allowed to engage in gainful employment as long as most of their business activity takes place outside of Belize and is conducted exclusively with non-residents of Belize. So, with a stable, growing economy, stunning natural beauty and highly attractive retirement program, Belize is one of the best places in the world to retire.

PANAMA

H.E. Ambassador Daniel Fabrega Ambassador of Panama to the UK With a rapidly expanding economy that has consistently outpaced most of Europe and the Americas, the Central American powerhouse of Panama is pivotal to world trade. Each year thousands of vessels pass through the world-famous canal. However, it’s not only cargo ships that are making a beeline for Panama. Well over three quarters of a million tourists visit each year and thousands of foreign retirees have made Panama their home. Here the Ambassador explains how any why so many people make the move Located at the southern tip of Central America, the Republic of Panama lies at the intersection of the Caribbean Sea and the Pacific Ocean, as well as at the crossroads of North and South America. Thanks to its geographic location, we have inherited one of the most ecologically diverse environments in Central America and have developed one of the world’s most vibrant economies. Panama has been recognized as one of the world’s top overseas retirement destinations. Why Panama? Well, besides benefiting from an economy that is expected to grow at a faster rate than anywhere else in the Western Hemisphere in 2015 and a colourful landscape varying from rainforests to

reefs, Panama offers the opportunity to live well for less, whether you choose the fast pace of Panama City or the laid back lifestyle of our beachfront communities. Hospitals and schools are international standard, and modern amenities from shopping centers and restaurants to banks and high speed internet are easily accessible. Not only does Panama offer a high quality, but affordable lifestyle, but living here is uncomplicated too. People are friendly and welcoming and the country has a low crime rate. We’re easily accessible too. Tocumen International Airport outside Panama City is only a 2.5 hour flight from Miami. A thriving economy and beautiful landscape have produced happy people. According to a poll of 133,000 people in 135 countries conducted by Gallup-Healthways Global in September 2014, Panamanians were ranked first for wellbeing. Panama was also ranked 7th out of 151 countries in the most recent Happy Planet Index which ranks countries according to the extent to which they produce long, happy and sustainable lives for people. It’s therefore little wonder that we are so often included in lists of the world’s top retirement destinations. So, how would you go about relocating to

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

Panama? We offer foreign nationals a number of different . residency options. One option that offers a wide range of benefits is the “Pensionado” Program, which is considered by many to be one of the most attractive programs of its kind in the world. Foreign nationals who obtain residency in Panama through the Pensionado Program are eligible to apply for a host of deep discounts, including 50% off selected entertainment activities, 30% off the cost of bus and train travel, 25% off air fares, 25% off water and energy bills and 15% off hospital bills. There are a range of additional benefits too, including discounts of hotels and restaurant bills. Resident pensionados (retirees) are also entitled to a one-time exemption from duties on the importation of household goods worth up to US

$10,000, as well as duty-free car imports or car purchases (every 2 years). Another bonus, pensionado status is guaranteed for life, so long as recipients continue to meet the requirements. To be eligible for the Pensionado Program, applicants must be over the age of 18 and be able to demonstrate an income of at least US $1,000 per month from a pension (plus $250 per month for each dependent). Spouses, parents or dependent children can also be included in the applications. The application process is fairly straightforward. All required paperwork should be submitted to a Panamanian attorney who will handle your application. Within a few months, you could be approved and be well on your way to a new life in Panama.

SPECIAL FEATURE:

Heading Offshore Synonymous with fine living, the Caribbean is also as a major player in offshore banking. Here, experts from Barbados, the Cayman Islands and Antigua explain each location’s benefits

TRIED, TESTED, TRUE

Barbados by Derrick W. Cummins CEO, J&T Bank and Trust Inc. OECD, FATCA, FATF… acronyms that we have come to know all too well in the offshore banking sector. For sure they cause a lot of frustration and grief. Yes, they engender undeserved rhetoric aimed at maligning, and adherence certainly requires a lot of effort, time and exThe Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

MONEY HEADING OFFSHORE pense. However, these developments are not to be seen in a negative light. Rather, just like taking any strong medication or undergoing intrusive surgery, they help to make offshore banking operations stronger, more secure, more compliant, more transparent and trustworthy. With all these innovations, investors, corporations and individuals can now seek out the services of offshore banks with greater confidence and a greater sense of security than ever before. No longer shrouded in a cloak of secrecy and mentioned only in hushed tones in corridors, operations like J&T Bank and Trust Inc. continue on to new levels, adding new products and attracting a broader range of clientele. The earliest contemplation when considering offshore banking is confidence of jurisdiction. The island nation of Barbados meets all of the necessary criteria. Barbados boasts the third oldest political system within the Commonwealth and, with that, a perennially stable political climate. Long term favourable economic conditions have contributed to the developed state of the island – it’s road infrastructure, housing stock and accessibility both by sea and air. Traditionally supported by its sugar and fishing industries, tourism is today the leading economic contributor, with substantial support provided by the thriving International Business Sector. Up-to-date information technology and a highly educated local workforce make business execution seamless and reliable. All this along with compliance with international standards and regulations, and a strongly regulated international banking and international business sector means confidence of doing business is as good as it gets. Barbados’ high standard of living and low crime rate makes it good not only for doing business, but also for residency. Exquisite architecture, tropical beachfront living, and an excellent school system await the fortunate professionals who make the choice to setup business in Barbados. Welcoming incentives to high net worth individuals provided by the Government add to the lure of this Caribbean gem. Wherever you may reside, travel or do business, offshore banking locates you and your money at the centre of your world. With easy ability to make international payments in multiple currencies, your global reach is expanded. Offshore banking opens up and facilitates many opportunities for the investor, whether a high net worth individual or a corporation. Not Just Banking Offshore banking is often partnered with other offerings such as trust services, corporate services and active busi-

ness management in addition to investment management. In this network of services, your offshore bank sits at the center of all your dealings, operations and goals. For the Corporation, your bank supports your payroll, international payments, treasury and ultimately your growth. For the individual, it provides support between your estate planning, asset management and current financial requirements. As with J&T Bank and Trust Inc., families and individuals are facilitated in many areas through interaction with a single trusted manager. Estate Planning In estate planning the overall goal is the attainment of certainty and retention of maximum value when currently considering the future movement of assets. Asset Protection International banking in politically and economically stable jurisdictions like Barbados eliminates the risk of possible public sequestration in areas of political or economic unrest. The employment of an offshore trust can be used to mitigate the risk from future legal claims against the client. Thus the individual or corporation receives comfort and assurance of the safety of their assets. Tax Efficiency This is not to be shied away from because of the rhetoric alluded to earlier. The reality is that tax treatment is a critical part of financial planning, whether it is for individuals, families or corporations. Legitimate comprehensive tax planning should always consider the use of low tax jurisdictions. Today’s astute high net worth individuals and corporations understand their role in contributing to the tax revenue of their country of citizenship or residence, but are also aware of the need to not leave much more on the table than they have to. This must hold true for individuals at every income strata as well as corporations, big or small. Barbados boasts many bilateral treaties that greatly enhance the opportunities available for efficient tax management. Investment Management Having funds available offshore opens up an entire world of investment opportunities not readily available to funds kept onshore. Unheralded in some quarters though it may be, and demonized in others, offshore banking remains a pillar of global capitalism and finance. Offshore banks with professional and committed teams, modern banking systems and flexibility will continue to innovate and bring solutions to their astute and demanding clients.

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

MONEY HEADING OFFSHORE

A ROYAL REWARD

Cayman Islands by Giselle Busby Managing Director, Republic Bank (Cayman) Ltd Legend has it that in 1797, King George III of Britain and Ireland granted the Cayman Islands permanent tax immunity. Whether there is truth in this story or not, the Cayman Islands has since emerged as one of the world’s leading banking hubs. The Islands are home to many of the giants of international finance and Cayman has been awarded first place, six years in a row in the annual survey of the world’s top specialised financial centres by leading industry publication, The Banker. Offshore Banking allows bankers to capitalise on advantages offered outside of their home countries. While this genre of banking has often come in for criticism because the banks are located in low tax jurisdictions, the fact is that Offshore Banking is a legal option, offering a wide range of benefits and the Cayman Islands, in particular, offer distinct advantages. Taxation If you are thinking of buying property in the Cayman Islands, you will be pleased to learn there are no annual property taxes and no restrictions on non-residents owning land. Exchange Control There are no exchange control regulations and funds may be transferred in and out of the country in any currency Currency The principal currency used in the offshore industry is the US dollar, although transactions are undertaken in virtually any convertible currency. The local currency, the Cayman Islands Dollar, is pegged by law to the US Dollar. The current exchange rate to the US dollar is US $1.20 = CI $1. Legislation The Cayman Islands have gone to great lengths to ensure that legislation in the financial services arena is responsive to the needs of the industry, while encouraging only legitimate practitioners and legitimate business. There is specific legislation in place, covering the areas of banking, trusts, company formation, mutual funds and insur-

ance companies, and much of this legislation has been used as a model for similar laws in other offshore centres. The Legal System The legal system is based upon British law and the ultimate court of appeal is the British Privy Council. The quality and depth of the Islands’ legal profession are two of its great strengths, with expertise in every aspect of financial, corporate and trust work. Professional Support The legal profession has been mentioned but other professional services are equally well represented. There are also various quality local firms specialising in other areas, such as company management and insurance. Ownership of Assets There are no restrictions on non-Caymanians owning property assets for their own use (although there are restrictions on owning and operating businesses). Supervision Confidence in a financial jurisdiction is a fragile thing and can only be maintained if good legislation is backed by good supervision. The regulatory authority in the Cayman Islands is the Cayman Islands Monetary Authority, an independent body with close links to the Bank of England. The banking industry culture has experienced monumental changes, during the past decade. The world’s regulatory bodies have become the driving force behind the way in which banks carry out their normal business. Some of the world’s prominent players have buckled under major sanctions and penalties, due to their lack of diligence in anti-money laundering and counterterrorist financing. The Cayman Islands, the fourth largest banking center in the World, is renowned for its banking practices and sheer volume of banks. The laws in the Cayman Islands have had a compliance-driven focus since the early 1990s and the Island’s regulatory body – Cayman Islands Monetary Authority (CIMA) – maintains

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MONEY HEADING OFFSHORE tight control over the banks under their jurisdiction, including Republic Bank (Cayman) Ltd. Another recent change saw the 2010 Foreign Account Tax Compliance Act (FATCA) passed in the U.S., requiring foreign banks to disclose to the Internal Revenue Service (IRS), the names of all account holders with U.S. ‘indicia’. The Cayman government recently signed the Intergovernmental Agreement with the U.S. – thereby mandating all banks operating within their jurisdiction to comply with FATCA regulations. Even though the process has become challenging for clients to establish a relationship with bankers in the Cayman Islands, Republic Bank (Cayman) Ltd. continues to be innovative in making the process as seamless as possible to clients in the Caribbean and around the

World. A wholly-owned subsidiary of Republic Bank Ltd that was established in 1992, to serve the needs of high net worth clients in the Caribbean, Republic Bank (Cayman) Ltd. has adapted its wide range of products and services in all lines of business to suit its clients’ needs while meeting all the regulatory requirements for the Cayman environment. The Bank can be contacted for a confidential consultation to discuss your needs, whether your interest lies in an offshore bank account; trust or investment fund account; international trade services; or assistance in company formation and management (Its clients are always assured of the strict confidentiality that is inherent in forming a relationship with bankers in the Cayman Islands).

THE ANTIGUA ADVANTAGE

Antigua by Michele Delco Manager, PKB Privatbank Ltd With its 365 beaches, the world renowned annual Antigua Sailing Week and a recently introduced Citizenship by Investment program, Antigua has become well known as one of the Caribbean’s premier tourist destinations with a revitalized second homes market. Unlike other locations in the region, it is less well known for its banking sector. However, the island is home to a branch of PKB Privatbank, a Lugano-based Swiss private banking specialist with branches in Geneva, Zurich and Panama City. But why Antigua, you may ask? Firstly, as an independent member of the Commonwealth, the Caribbean Community, the OECS and the OAS, with a stable political system and solid currency (Eastern Caribbean Dollar) that is pegged to the US Dollar, Antigua provides a low risk environment, both for clients and for PKB Privatbank. The country offers a healthy, well regarded jurisdiction for offshore banking where strong banking secrecy ensures customers can be assured of discretion. From this solid base, PKB Privatbank is able to offer a wide range of diversified products and services required by private banking customers, as well as access to stock markets, commodities and forex. As part of a Swiss private banking group with a 50 year pedigree, we provide a conservative, prudent approach and the first class service customers expect from a Swiss private bank. Our people are critical to our business success and

Antigua also provides a pool of talent, from which we can carefully select the individuals who are best qualified and most closely aligned to the Group’s philosophy. We invest in our people, each year sending staff to Switzerland for training in our offices in Lugano, Zurich and Geneva. We are therefore able to offer our customers first class Swiss standards surrounded by Caribbean comforts. It is not just our people who operate according to the highest standards. As in other parts of the world, in recent years the financial services landscape has changed significantly in Antigua, and, as a consequence of recent events, the supervisory authorities have become increasingly strict. The authority, known as the FSRC (Financial Services Regulatory Commission), is extremely professional and competitive and easily comparable to authorities of larger financial centers. The FSRC offers the transparency and high standards both we and our customers require. The relatively small size of the sector in the Caribbean has meant that the region has been able to emulate the new approaches of countries such as Switzerland, Hong Kong and Singapore and to move fast and adopt new systems of control without the complications experienced by those larger territories. So, while a walk on the beach or a day out on a yacht might well be the Caribbean’s main appeal, without a doubt there is much more to the region that demands your attention.

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Jacques Herni Lartigue My Brother, Zissou, Gets His Glider Airborne, Chateau de Rouzat, October 1908 Collection PKB

We share your passions, wherever they take you.

By tradition. PKB Privatbank Lugano Genève Zürich Bellinzona Antigua Panamá Milano Montevideo

PKB Privatbank ltd 10 Redcliffe Quay St. John’s Antigua (west Indies) Tel. +1 268 481 12 50 62 Fax +1 268 481 12 63

www.pkb.ag

Financial Advisory Asset Management

P RO MOTI ON THE L ANDIN GS

Building on Success The Landings, one of St Lucia’s most well established and highly regarded beachfront resorts, is releasing a limited number of new residences. Sales Director Michael Green talks to The Caribbean Property Investor about what’s on offer for buyers at this awardwinning resort

Home to the prestigious St Lucia Golf Club, white sand beaches and a variety of attractions, the northern coast of St Lucia is extremely popular with the 300,000 tourists that head to the island each year. Conveniently located just five minutes from the golf club and a cluster of restaurants, bars and shops at Rodney Bay Village, The Landings has emerged as one of St Lucia’s most well established luxury resorts. The Landings enjoys a prime beachfront location on the north-western coast of the

island. Approximately 10 years ago, a total of 142 residences were built in 2 separate phases which were completed in 2005 and 2007 respectively. All 142 units sold out. Owners enjoy use of a host of amenities, including 3 swimming pools, tennis courts, a kids club, 7,000 square foot spa and health club, water sports and a 35-slip yacht marina (depending on size). A 5 star, professional rental program also generates income for owners year-round when not in residence – an added bonus.

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The Landings is currently planning a third phase of residences, offering a limited collection of just 7 apartments for sale. We asked the Sales Director of The Landings about the new residences. “Following the successful completion of the first 2 phases, we are working on the third phase of development at The Landings,” Michael Green explains. “Phase 3 will comprise a total of just seven brand new 2 and 3 bedroom apartments which will be available from 2015. The 2 bedroom units

start at US $600,000 (plus furniture) and the 3 bedroom units start at US $900,000 (plus furniture). We expect the residences to be completed in 2015. There are also a number of resale properties available, both on the marina and beachfront,” he adds. “For the first time in nearly 10 years there will be some very exciting new beachfront residences available too from 2016-2017. Details will be available in 2015.” Besides working on phase 3, The Landings, which has recently come under new

ownership, is bringing in a range of general improvements. I ask Green what the new ownership means for potential buyers. “Stability, safety and security,” Green explains. “The Landings is now 100% owned and controlled by the individual owners, so everything from HOA fees and the management rental structure is now controlled by the owners board.” Besides stability and safety, The Landings offers buyers a range of other benefits. “We are located on the best beach on the

island and offer the only freehold beach title in St Lucia,” Green says. “It is a very secure development with 5 star facilities built to the very highest construction standards. Most importantly, an investment in The Landings offers peace of mind. Right now, the rental pool is covering all running costs including insurance. When complete, we expect returns upwards of approximately 2%. So, not only does The Landings offer direct access to the beach, marina, spa and restaurants, but significant income generating potential too.”

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

CARIBBEAN BEACHFRONT LIVING at its finest

The Landings is St. Lucia’s most prestigious 5-star luxury private marina resort on the island's finest beach. Unrivalled quality, finishes and amenities and conveniently located near the bars and restaurants of Rodney Bay and the St. Lucia Golf Club. A fabulous freehold home with all the trimmings that is yours alone – no time-sharing – with tax advantages and strong potential for rental income in a successful existing rental programme. All earlier phases sold out. So beautiful, it’s unreal.

For a private showing or more information, please visit www.landingssalesvillas.com or contact our Sales Office on +1 (758) 716-0799 or email: info@thelandingsstlucia.com

L IFE TRAVEL FASHION ART INTERIOR DESIGN RUM

TRA VEL

Slice of the Caribbean LEO BEAR

STYL E

With courses in breathtaking locations, the Caribbean is one of the world’s top golfing destinations. Exclusively in association with iconic watchmaker OMEGA, which supports many of the game’s most high profile events and personalities, we flag up seven of the Caribbean’s top spots in which to tee-off… The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE TRAVEL

St Kitts & Nevis Described as the world’s most edible golf course, Irie Fields on the pristine island of St Kitts is part-golf course, part-working farm. Players weave their way through rows of crops and fruit orchards, which not only makes for a scintillating game but also reduces the course’s overall environmental impact. Win-win! Not to be underestimated though, Royal St Kitts Golf Club located on St Kitts’ south east coast, has been receiving golfing royalty since 1976. In 2002 it was revamped by architect Thomas McBloom to grand effect playing as a fantastic 18 hole par-71 course. On neighboring Nevis, one of the Caribbean’s least spoilt islands, Four Seasons Nevis makes the most of the island’s colourful history. Highlights include Nevis Peak, where you can practice your swing to a backdrop of abandoned sugar mills and, if you’re lucky, impress an audience of green vervet monkeys. Puerto Rico A Robert Trent Jones Jnr designed masterpiece, Bahia Beach is a top choice for eco-conscious travellers – it’s actually won awards for its preservation of the local environment. Featuring scenic lakes and gently undulating fairways, it’s a putter’s paradise and is suitable for all abilities. Puerto Rico’s Dorado Beach is equally blessed by Mother Nature, and benefits from not one but four, championship golf courses. The best of these are the East and West courses occupying a secluded bay within the former Rockefeller estate. Not to be eclipsed, Trump International, a 36-hole championship course, and the location of the Puerto Rico Open, delivers plenty of Trump’s trademark luxe and is conveniently placed just 20 minutes from the airport. The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

Previous: Four Seasons Nevis, Copyright Four Seasons Left: OMEGA Brand Ambassador Greg Norman Above: Bahia Beach, Puerto Rico

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE TRAVEL

Jamaica Popular with bohemian jetsetters, Jamaica has also plenty going for it golf-wise. Sitting between the rolling green hills and the white-sand shores of Montego Bay, Rose Hall Plantation offers a triptych of delightful courses. There’s Cinnamon Hill and White Witch, both designed by Robert von Hagge and Rick Baril, or Robert Trent Jones Snr’s award-winning Half Moon course recently renovated by Jones’ protégé, Roger Rulewich. Nearby at Tryall Club, even the most accomplished golfers will be challenged by the tight fairways bordered by swaying palms. Nine of its 18 holes are caressed by the shoreline; the other nine meander through lush tropical hills. The Bahamas With 700 swoon-worthy islands making up The Bahamas, it’s hard to know which to choose. For golfers, the star has to be the private isle of Great Guana Cay, home to Baker’s Bay. Laid out by Tom Fazio in 2010, every one of its 18 holes is to be savoured – and its Atlantic-facing first

nine holes are certain to test skills. But the real beauty of this course is that it is completely void of stuffiness. Similarly inviting, Abaco Club on the island of Abaco in the northern realms of The Bahamas, which was designed by Tom Mackenzie and Donald Steele, is the first Scottish-style links course in the region.

Green Monkey at Sandy Lane, Barbados, used with kind permission of Sandy Lane Hotel Co. Limited

Barbados Named after Barbados’s ubiquitous cheeky primates, Sandy Lane’s Green Monkey course designed by Tom Fazio draws VIP golfers from across the globe. Carved out of an old quarry, the terrain makes for exhilarating play and the spectacular scenery makes this 72 par course a must-try. Neighbouring Royal Westmoreland created by Robert Trent Jones Jnr summons a Caribbean of yesteryear thanks to its grand colonial clubhouse, which is still the place to be seen at drinks-o-clock. Comparative newcomer, Apes Hill Club, is also worth jeeping over to. It benefits from smashing views thanks to its elevation at 1,000 metres, and allows players of all abilities to enjoy a first-class game.

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

Picture the blue sky imagine the sound of the oceanâ&#x20AC;&#x2122;s beat from the ideal location of your beach front home. Make memories with loved ones celebrating a champagne toast watching the sunset from the ocean view balcony of your Caribbean villa.

DOMINICAN REPUBLIC HAS IT

Email: uk@godominicanrepublic.com Visit: www.godominicanrepublic.com

LIFE & STYLE TRAVEL

Upcoming Golfing Events from around the World PGA of America Events Senior PGA Champ 76th – French Lick Resort, Indiana, USA 21-24 May 2015

Ryder Cup 41st Ryder Cup Hazeltine National Golf Club, Chaska, Minnesota, USA 27 September – 2 October 2016

PGA Professional National Championship Philadelphia Cricket Club – Philadelphia, PA, USA 28 June – 1 July 2015

European Tour Events Omega Dubai Desert Classic Emirates Golf Club, UAE 26 January – 1 February 2015 Omega European Masters Golf Club Crans-sur-Sierre – Crans Montana, Switzerland 23 – 26 July 2015

PGA Championship 97th PGA Championship – Whistling Straits,Kohler, Wisconsin, USA 13-16 August 2015

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El Camaleón, Mayakoba, Mexico

Mexico The electrifying Riviera Maya has fast become a trendy holiday destination and El Camaleón promises an appropriately thrilling game of golf. The course, designed by OMEGA brand ambassador Greg Norman, is dazzling. It meanders through jungle, mangroves and beach – just be sure to give the four cetones (natural caves) a wide berth. With state-of-the-art golf buggies that let you know how other players are faring (and from which you can order a beer), it’s somewhat ahead of its time. In contrast, over on Mexico’s west coast in Cabo San Lucas, golfers can find something more traditional at Dunes Course nestled among voluptuous sand dunes. Previously playing host to the World Club Championships in 2012, it’s definitely one to add to the wishlist. Meanwhile, across the gulf, there’s a truly unique experience to be had at Four Seasons Resort Punta Mita: during high tide, players are whisked offshore to play hole 3B (aka the ‘tail of the whale’) on a rocky landmass out at sea.

The Dominican Republic The Dominican Republic is one of the most popular destinations in the Caribbean and year-round golf courses are a large part of its allure. Teeth of The Dog is not only ranked as one of the best courses in the Caribbean, but also the world. Located within the estate of the idyllic Casa de Campo resort on the island’s south east coast, legendary designer Pete Dye made sure he incorporated plenty of his trademarks including a fiendish dogleg, making this course particularly tantalizing. Over on the eastern tip of the island, players can test-drive Jack Nicklaus’s signature course at Punta Espada where eight holes are played shoulder to shoulder with the shimmering Caribbean Sea. Meanwhile on the north coast, the Playa Grande golf course, designed by Robert Trent Jones, deserves a look-in for its equally handsome cliffside fairways and curvaceous sloping greens.

OMEGA & Golf A passionate supporter of many of golf ’s most celebrated personalities and events, OMEGA has a longstanding association with the game. As part of a partnership extending to 2022, OMEGA is, for example, Official Patron and Official Timekeeper of the PGA of America and Official Timekeeper of the Ryder Cup when it takes place in the USA. The iconic watchmaker is also title sponsor of many of the game’s most prestigious events in Europe and the Middle East, including the OMEGA European Masters, the OMEGA Dubai Desert Classic and the OMEGA Dubai Ladies Masters. OMEGA is also set to be Official Timekeeper when golf makes its return to the 2016 Olympic Games in Brazil after a hiatus of more than a century. In its support of a roster of ambassadors which includes legendary player Greg Norman, leading lights Rory McIlroy, Sergio Garcia, Stacy Lewis and Michelle Wie, as well as rapidly rising stars Harris English and S.Y. Noh, OMEGA has helped to raise the profile of golf as a global sport. Globetrotting travel writer Leo Bear also writes for Condé Nast Traveller, Sunday Times Travel Magazine, House & Garden, Aspire and The Mayfair Magazine. Follow her on Twitter @leobear

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

PROMOTION CAPELLA MARIGOT BAY

One Week in… St Lucia Jeroen Quint, General Manager of the newly opened, ultra-luxury Capella Marigot Bay, gives us his recommendations on how to enjoy an unforgettable week on the island

How would you recommend spending a relaxing first day in St Lucia? When you get to St Lucia, enjoy a nice meal and if you are at our property, Capella Marigot Bay, why not take a walk around the Capella Marina boardwalk and enjoy the fresh, warm breeze. At Capella, our team of personal assistants will call you 2-4 weeks before you arrive to make sure that everything from airport transportation to what you would like stocked in your kitchen is pre-arranged according to your personal preferences so you can relax trouble-free by the pools which overlook beautiful Marigot Bay and maybe even have a jetlag massage treatment at the Auriga Spa. How about a quiet first evening to re-charge after a long flight? Enjoy dinner at our dockside Rum Cave. It is casual, relaxed and friendly, but refined at the same time. You can enjoy a selection of small dishes that can be shared and, as St Lucia is home to rum, a refreshing rum cocktail is a must. Where are your personal, favourite places to explore in St Lucia? Some of my favourite places in St Lucia, and there are many, include the majestic Pitons mountain tops, which have become

an icon of St Lucia, the Sulphur Springs and the Rainforest. Our personal assistants know beautiful spots which are off the beaten track and can connect you with guides who can immerse you in authentic local experiences and educate you on the history of this vibrant, fascinating island. In addition at Capella, we have a diverse array of exciting activities – everything can be custom-tailored to your needs. Your personal assistant at Capella can create a tailored experience just for you or your family, whether you would like to blend your own bottle of spiced rum, explore nature trails, learn about the flora and fauna on the island or learn to pilot a yacht. How easy is it to travel around? At Capella, we have access to luxury vehicles with professional drivers that are handpicked for their friendliness and knowledge of the island. But, personally, my preferred way to get around St Lucia would be to charter a beautiful sailing or motor yacht. The team at the Capella Marina can create a memorable experience for you and your family aboard a boat or yacht depending on your needs and also prepare meals for you – from casual to gourmet. How about a day at sea? Again, the possibilities are endless. A per-

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

sonal favourite of mine is to charter a fishing yacht and spend a half day deep sea fishing, but a sunset sail on a catamaran is also hard to beat especially for couples - it is incredibly romantic. Any dining recommendations for an unforgettable meal in St Lucia? At Capella, make sure to try our Grill, for the freshest seafood, steaks cooked to perfection on a wood burning stove or excellent cuts of meat slow-roasted in the rotisserie. The culinary team at Capella Marigot Bay can custom create dishes as well in accordance with your preferences. In Marigot Bay itself, there are also a range of wonderful dining options: Chateau Mygo’s dockside restaurant, Rainforest Hideaway, Doolittles Restaurant as well as the Indian restaurant Masala Bay right in the Marina Village itself are great dining options to experience. Where are the best places to get a little something to take home and what would be your suggestions for gifts? Capella’s Marina Village has a diverse selection ranging from jewellery and fashion to souvenirs and local arts and crafts. I personally can highly recommend Michelle Elliot’s pottery. She has a shop in the Village as well as at Pink Plantation House in Castries.

The TheCaribbean CaribbeanProperty PropertyInvestor, Investor,Issue Issue55 | 7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE TRAVEL

The Joy of Flight The Caribbean is a tropical paradise beckoning visitors from across the world, but getting there can be a headache. Travel in and out of private airports and aboard personal aircraft, like those from Gulfstream Aerospace, can make the taxing journey swift, painless, and even downright enjoyable BAILEY S. BARNARD

The Caribbean is well known as one of the world’s most alluring destinations, offering warm weather year round and an abundance of crystalline blue waters and white sand beaches. But, actually escaping to the Caribbean and returning back home can be a burden, sometimes cumbersome enough to spoil the entire experience. Between transportation to and from large, crowded airports, long and uncomfortable commercial flights, airline food and jetlag, the journey to the Caribbean is often anything but luxurious. Flying privately – aboard aircraft such as the popular jets from Gulfstream Aerospace – significantly eases many, if not all, of the annoyances and inconveniences associated with commercial air travel. Whether chartering a Gulfstream jet, joining any number of jet membership or fractional-ownership programs, or purchasing a plane outright, flying privately offers countless benefits. In addition to providing sole use of an aircraft, it enables travellers to avoid crowded airports by utilizing small private facilities at or near public terminals or fixed-based operators (FBOs), often located closer to the final destination. Many FBOs also provide on-site customs, catering and ground transportation services, among other amenities. The number of these private terminals in the Caribbean has expanded in recent

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE TRAVEL

years, with new or recently renovated examples in Antigua, Nevis, St Kitts and Turks & Caicos. The Provo Air Center at Turks & Caicos’ Providenciales International Airport is the only FBO on the island and one of the busiest private terminals in the world. It serves as a convenient jumping-off point to reach other islands in the archipelago. As part of a major renovation that the facility recently completed, the internal passenger area was expanded to nearly 870 square metres. Among its services and amenities are laundry and catering, conference rooms, multiple passenger lounges, private parking and discreet entrance and exits. And its ramp space can accommodate jets as large as a private Boeing 777. Another world-class FBO in the Caribbean is the newly opened Yu Lounge at the Robert L. Bradshaw International Airport on St Kitts. As its name suggests, the Yu Lounge feels more like a lounge or a private club than a terminal. In its well-appointed passenger area, the Yu Lounge offers travellers gourmet snacks and libations, as well as access to a concierge able to make reservations and book local activities. Perhaps the most significant development for Caribbean private travel in recent years is the recent expansion of Signature Flight Support, a U.S.-based FBO network with more than 60 locations in the United States and dozens of others around the globe, including five in the Caribbean. This past summer, the

company acquired three of its Caribbean locations – at the V.C. Bird International Airport in Antigua, the Robert L. Bradshaw International Airport in St Kitts and the Vance W. Amory International Airport in Nevis – and subsequently renovated them. A major Signature Flight Support facility at Providenciales International Airport in Turks & Caicos is currently under construction, marking the company’s sixth Caribbean facility. It will include a stylish 632 square metre terminal, luxurious lounges and office space and a substantial amount of hangar space and parking, plus a membership program. While private airport facilities like these can make a world of difference, the level of benefit of travelling privately is largely determined by the quality of the aircraft and flight service employed. Private flight gives travellers sole use of a plane, for themselves and their family or travel companions, and the industry’s top examples offer a wealth of amenities designed to maximize comfort and productivity and reduce fatigue. Gulfstream, a leading manufacturer located in Savannah, Georgia, builds some of the finest jets in the world for private or business use. Its broad fleet of eight jet models – including two new designs not yet in service – range from an eight-passenger mid-size model to a large-cabin, ultralong range jet able to carry as many as 18 passengers in 12 different cabin configurations.

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

For passengers flying from Europe, Gulfstream’s G450 offers an ideal range of more than 8,000 km when carrying eight passengers and cruising at Mach 0.80. (The jet can hold as many as 16 passengers.) In most configurations, the G450 offers an abundance of cabin space that can be outfitted with plush leather couches and seats that can lay completely flat, two lavatories, a fully equipped galley, a Honeywell satellite communication system and multiple high-definition flatscreen TVs with access to a library of on-demand movies. And while such amenities are indeed relaxing, lengthy highaltitude flights and a lack of natural light in the cabin can cause fatigue. The G450 counteracts this with fresh air circulating through the cabin, advanced enginenoise suppression, a pressurization system that keeps the cabin feeling like it is never at an altitude higher than about 1,830 metres (even when cruising at more than 13,000 metres) and 12 large, oval windows – a signature feature of Gulfstream. Though a smaller aircraft, the Gulfstream G280 – which entered service in 2012 – has 19 cabin windows letting in an abundance of natural light. It also offers 100% fresh air, and industry-leading low cabin noise and pressurization, all to help passengers feel less fatigued when arriving at their destination. The G280 carries as many as 10 passengers and has a shorter ranger than the G450, making it better for flight to the Caribbean from

the United States or most areas in South America and ideal for taking quick jaunts between islands. It cruises at the same speed as the G450, but it has a shorter take off and landing distance, which enables it to land at most paved airstrips. The aircraft is available with a wide assortment of first-rate amenities and materials, and like the rest of the Gulfstream fleet, is outfitted with the company’s cabin-management system, which allows control of everything from its temperature to its entertainment systems via a smartphone app. In October, Gulfstream and Flexjet announced Gulfstream would supply the Texas-based fractionalaircraft-share and flight-service provider with up to 50 jets. The order will provide Flexjet members with access to Gulfstream’s newest and most-advanced jets. The service will be ideal for travellers who may not be quite ready to purchase a Gulfstream jet outright, but who are ready to experience the myriad benefits of private air travel to the Caribbean and destinations around the globe. Gulfstream Aerospace www.gulfstream.com Flexjet www.flexjet.com Provo Air Center www.provoaircenter.com Yu Lounge www.stkittstourism.kn/explore-st-kitts-yulounge.php Signature Flight Support www.signatureflight.com The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

Corelli rope triangle bikini by HEIDI KLEIN

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE FASHION

Maritime Chic VICTORIA GAIGER

“There is nothing - absolutely nothing - half so much worth doing as simply messing about in boats. In or out of ‘em, it doesn’t matter. Nothing seems really to matter, that’s the charm of it.” Kenneth Grahame’s famous line from the children’s classic Wind in the Willows conjures up hazy images of long summer days with the sound of lapping water and the smell of fresh varnish on decking. But now Ratty and Mole’s secret is out. From menswear to womenswear, this season fashion wants us to hoist our sails. A raft of designers have dredged up a classic palette of navy, white, cream and reds with splashes of metallic buttons and seaside motifs. This is chic French seaside dressing, the Riviera at its best. Subverted by designers to give a modern cool edge. At Rodarte there were punk mermaids caught in rope netting. Rope trims and nautical motifs surfaced at Christopher Kane and ropes used as belts at Veronique Branquinho. J W Anderson’s collection was exquisite with nautical detailing. Knotted rope snaked through button holes and gold buttons on the back of sailor pants. At Lanvin a double breasted jacket featured the classic seafarers gold buttons. Ralph Lauren added wide stripes and wide legged sailor pants to their take on the look. Stripes were everywhere from Victoria Beckham, Michael Kors and Sonia Rykiel to Emporio Armani. Even swimwear took us on a horizontal journey with Heidi Klein’s Riviera-style bikinis and Melissa Odabash’s striped figure-hugging beachwear.

Short beach dress by MELISSA ODABASH 5.

Catwalk shot by RALPH LAUREN 6.

1. Limited Edition Ladies Gondolo watch in blue by TIFFANY & PATEK PHILIPPE 2. Chain link necklace by ALTUZARRA 3. It’s Gorgeous multicolor sandals by AQUAZURRA

4. Sunglasses by MARC BY MARC JACOBS 5. Christal blue watch by DIOR 6. Scarf by KENZO 7. Bracelet by CARTIER 8. Hat by MELISSA ODABASH

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

Catwalk shot by PHILIPP PLEIN

LIFE & STYLE FASHION

All at Sea VICTORIA GAIGER

1. Sea Hawk watch in blue by GIRARD PERREGAUX 2. Shorts by ORLEBAR BROWN 3. Knife edge signet ring with Pietersite by DAVID YURMAN 4. Sunglasses by DIOR HOMME

5. Bracelet by GUCCI 6. Loafers by GUCCI 7. Duffle bag by GUCCI 8. Double Split watch by A. LANGE & SOEHNE

A new confidence is sweeping menswear and nowhere was it more obvious than on the catwalks for this season. Nautical style is back in the form of crisp white and navy with a splash of red. The palette is both classic and easy to wear. It’s a look that works everywhere from an urban office to a yacht club lounge. There was braiding on cuffs at Gucci and nautical inspired accessories. Old school luxury in the form of white (Gucci) or navy (Balmain) double-breasted blazers and gold buttons on trousers. Whilst luxe loungewear pieces from Phillip Lim oozed laid back summer style, Etro’s luxurious navy and white knits and toweling tops added more nautical charm. Ralph Lauren added stripes to linen blazers worn with essential white trousers while Gucci showed wide-legged trousers and oversized duffel bags suitable for months at sea. Stripes are a key trend and were seen everywhere from Haider Ackerman to Missoni. Thom Browne assayed a more regimented look with bold stripes on sleeves and trousers. At Dior, Chris Van Assche subverted the theme with toggles on classic navy suiting and striped vests styled over classic shirts. And the ultimately versatile traditional stripe was worn layered under navy jackets and shirts. Orlebar Brown added marine inspired prints to their musthave swimwear. Accessories followed suit with nautical rope bracelets, boat shoes, loafers and seafaring watches, for a look that is timeless as well as classic. Fashion Editor Victoria Gaiger travels the world shooting the latest trends for some of the world’s biggest brands. Her next trip to the Caribbean will see her setting sail to Antigua to photograph some of these nautical themes. She is currently the Fashion Editor at Harrods magazine and Editor of Harrods Man magazine. 5.

T-shirt and shorts by ORLEBAR BROWN 7.

Catwalk shot by RALPH LAUREN 8.

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE ART

The Sculptor Making a Splash An interview with underwater sculpture maker Jason deCaires Taylor ROBERT COOPER

From Hokusai’s “The Wave” to Turner’s seascapes, the allure and mystery of the world’s waterways have inspired some of the most influential artworks ever created. As French filmmaker and photographer Jacques Cousteau once said, “the sea, once it casts its spell, holds one in its net of wonder forever.” For one artist, the underwater world is not only his source of inspiration but his canvas and gallery too. Jason deCaires Taylor creates sculptures that are submerged underwater where, over time, they become entwined with the marine landscape. He spoke to us about his work in the Caribbean and his plans for the future. Ever since the Ancient Egyptians produced frescoes of the Nile, artists have been fascinated by rushing rivers, placid lakes and stormy seas, giving rise to a distinctive genre referred to as marine art, which encompasses prints, paintings, drawings and sculptures. Inspired by a passion for sea life, British-Guyanan sculptor Jason deCaires Taylor has given the term marine art a whole new meaning. Taylor, has dedicated the best part of his career to creating underwater sculptures that promote reef conservation and regeneration. As a student of Sculpture at the London Institute of the Arts, Taylor had been interested in how changing the setting of an installation could heighten its impact, but it was when he began to submerge his work underwater that he found true purpose. As Taylor explains, “it was only when I started to think about sculpture as an artificial reef, as a form of conservation, that it started to really become exciting for me.”

A fully qualified diving instructor and award-winning underwater photographer, Taylor is keenly aware of the damage to reef systems caused by unsustainable levels of diving, over fishing, pollution and climate change: “I am inspired by what is happening to our environment and how we are losing great swathes of coral reef across the Caribbean. 80% is at risk or has already been degraded, so that is definitely at the forefront of my work.” Taylor set out to create underwater attractions in barren areas to lure divers and snorkelers away from natural reefs under stress and stimulate the regeneration of reefs by encouraging coral growth. “The aim is to try and bring people away from the healthy, natural reefs and bring them to an area where they can’t cause so much damage.” The Caribbean was a natural place for Taylor to start. With a Guyanese mother and family in Barbados, Taylor says he has a close affinity to the Caribbean. He spent two and a half years living on the island of Grenada, where in 2006, he used marine-grade concrete to create the world’s first underwater sculpture park just off the coast. “For me it all started in the Caribbean. When I got to Grenada, it was such a beautiful place. I really loved living there and it inspired me to actually do what I wanted to do. I started there and that’s where I did my first test pieces. I got a very positive response from the Government and the dive community. If that hadn’t gone well I doubt I would have embarked on this career. It all took off from there.” Since then Taylor has been commissioned to produce sculptures which have been installed in locations across

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE ART

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

All images courtesy of Jason deCaires Taylor Previous page: Ocean Atlas, Nassau, Bahamas Top & Bottom: The Silent Evolution, MUSA Collection, Cancun/Isla Mujeres, Mexico Left: Viccisitudes, Grenada

the region, including a collection of 500 sculptures for MUSA, the Museo Subacuatico de Arte, located off the coast of the Mexican city of Cancun. Taylor explains how his sculptures encourage reef regeneration: “The sculptures in Cancun are situated downstream from one of the biggest reefs. The idea is that the eggs and sperm head towards the artificial reef. We also encourage it by using rough textures which give the coral a better chance to adhere to them. And, in many of the pieces, such as The Resurrection, I actually plant coral. It is very common that fan coral is ripped off the reef during a storm and thrown down on the sand where it eventually dies. After one storm we went around and collected pieces and re-planted them. Once they have a stable surface to grow, they can thrive again.” Taylor’s projects have been a great success. It has been estimated that 250,000 people now visit MUSA in Cancun each year, contributing $20 million USD to the local economy. Some of Taylor’s greatest personal marine protection successes have been with crustaceans. For example, in a once barren area, he installed a sculpture in the form of a Volkswagen Beatle with entrance holes large enough for lobsters but small enough to prevent fishermen from catching them with hooks. “It took about a year or two but when I visited there last time there were about 100 lobsters living inside the car.” Taylor has experimented with all kinds of new ideas and technology too. He was commissioned by the illusionist David Copperfield to create a stand-alone piece which has been submerged off the coast of Musha Cay, his private island in The Bahamas. The piece is a real size replica of a Steinway Concert Grand piano that plays soft classical music “a bit like whale sounds or dolphin sounds” as a diver approaches. One sculpture in Cancun works in almost the opposite way: “It has a microphone inside and a hard drive. It’s constantly recording the environment as part of a study in collaboration with the University of North Carolina to understand how coral reefs work in relation to sound and how sounds affect navigation.” An above water sculpture installed in Brazil depicting a man walking on water incorporates solar panels to light it up at night. Taylor’s latest work is the largest underwater sculpture ever created. Referencing the Ancient Greek legend of Atlas the Titan who was condemned to bear the heavens upon his shoulders, the 60 tonne, 18-foot-tall “Ocean Atlas” depicts a kneeling Bahamian girl holding up the ocean ceiling. As Taylor explains, “it’s a really ambitious project for me. It goes from the seafloor to the surface of the sea. It stretches from top to bottom. It was a massive challenge to install in the sea.” The hand-crafted sculpture joins several others by Bahamian artists Willicey Tynes and Andret John in the Coral Reef Sculpture Garden just off the coast of New Providence, the most populous island in The Bahamas. The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE ART

It was commissioned by the Bahamas Reef Environment Educational Foundation to create an eco-friendly attraction to divert divers away from natural reefs suffering from stress and to educate visitors on how our failure to address threats to marine life places a heavy burden on the next generation. For Taylor, this is the key message he wants people to take away from his work. “It’s all about us trying to live in a more symbiotic and harmonious way with nature rather than working against it. As technology and cities evolve we are divorcing ourselves from nature and I hope my work reminds people of our dependency on the natural world and how spectacular it is.”

Resurrection, MUSA Collection, Punta Nizuc, Mexico

Visit www.underwatersculpture.com to see more of Jason deCaires Taylor’s work The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

PROMOTION KOHLER

Get Fresh With Kohler’s new DTV+ Digital Showering System, water temperature and pressure, sound, steam and light can all be customized at the touch of a button for a fully immersive, multi-sensory experience. Clean has never felt so good

A dip in Dominica’s Emerald Pool with the sound of the waterfall tumbling into the cool water. A visit to the hot springs in St Lucia or Grenada with the steam rising up to cleanse your face. An evening spent on a quiet beach as the waves roll in and the warm spray cools your skin. These are some of the most precious, memorable, relaxing moments to savour in the Caribbean. Now, those soothing sensations can be enjoyed in the privacy of your own home. The new DTV+ from Kohler is the most advanced digital showering system the company has ever produced and offers a fully customizable spa-like experience at home. From precision temperature and pressure control to selection of light, steam, color and audio settings, DTV+ enables complete personalization of your showering experience. Every element is controlled by an intuitive touchscreen interface. At the touch of a button you can, for example, switch from a gentle rain shower to a highly targeted jet stream or spa-like hydrotherapy.

DTV+ offers a fully immersive experience with SoundTile speakers for music, a steam generator for steam experiences and WaterTile Ambient Rain shower panel for chromatherapy. An additional range of pre-programmed showering experiences create professional spa-like experiences to help you unwind. Enjoy a series of alternating bursts of hot and warm water designed to soothe, revitalize, exhilarate or invigorate – whichever you choose. You can create and set bespoke experiences too to jump-start your morning or wind down at night. You can set up unique “his” and “hers” showering experiences. Or, you can create a totally unique experience for every member of the household. So, whether you’re in need of the power of water to rejuvenate at the start of the day or to soothe your tired body at the end of it, the Kohler DTV+ showering system revives, refreshes and renews. The choice is yours and the possibilities are endless. www.kohler.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

When you take a shower, where does your shower take you?

The remarkable DTV+™. A simple touch takes you worlds away to a showering experience you can only get from Kohler. Discover yours at KOHLER.com/DTVplus.

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Left and Right: Images courtesy of GoldenEye, Jamaica

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LIFE & STYLE INTERIOR DESIGN

Bathe in Glory We asked the experts to share their approaches to creating blissful bathrooms for three Caribbean resorts

Linda Garland, Ann Hodges The Garden of Eden

In 1946 James Bond author Ian Fleming built a house in the quiet town of Oracabessa on the northern coast of Jamaica. He was so taken the area’s natural beauty, that he intentionally kept the design of his home “GoldenEye”, simple. Living, Fleming said, would be as much outdoors as indoors. GoldenEye’s new owner – Island Records Founder Chris Blackwell – has since built on Fleming’s legacy, developing it into a 52-acre beachfront resort. When Blackwell invited his friend Linda Garland to redesign the interiors, she stayed true to Fleming’s vision of outdoor living. “I envisaged it like the Garden of Eden,” she says, “where you could wander naked picking fruit and herbs.” Working with architect Ann Hodges, Garland expanded the bedrooms into the

outdoors, creating private garden bathrooms fenced with bamboo. “In each we placed a clawfoot tub sitting on a timber deck, a rainhead shower with a duckboard base, a stone sink and a lounging area on a shaded terrace of cut stone protected by a roof of bamboo matting on a timber frame,” Hodges explains. “Stones and pebbles made pathways among the groundcover and the gardens were planted with green and white fragrant and medicinal plants, vines, palms and other trees.” For details on residences for sale at GoldenEye, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE INTERIOR DESIGN

Below and right: Images courtesy of Parrot Cay by COMO, Turks & Caicos

United Design Partnership Sophistication in Simplicity

London’s United Design Partnership was responsible for the refined interiors of the beach houses and villas at Parrot Cay by COMO in the Turks & Caicos Islands. When designing the bathrooms, CEO Keith Hobbs used an understated approach to allow the stunning surrounding landscape to take center stage. “The pared-down, contemporary interiors are designed as a restful escape from the brilliant sun,” Hobbs explains. “The delineation between indoors and outdoors was blurred with the use of windows or rooms that literally open onto a private garden

complete with shower or bath.” “A simple aesthetic combines white marble and natural, warm wood finishes for a modern, clean look which allows the guest to connect with nature and admire the beautiful views of turquoise water and white sand beaches.” For details on residences for sale at Parrot Cay, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE INTERIOR DESIGN

Left and right: Images courtesy of Sugar Beach, St Lucia

Mariel Asencio Classic Elegance One of the finest resorts in the Caribbean, Sugar Beach is nestled between the iconic Pitons and surrounded by acres of pristine rainforest on the south-western coast of St Lucia. The resort, which is owned by Roger Myers, is home to a collection of stunning residences designed with a classic French colonial feel, brought up to date for the ultimate in contemporary luxury living. The design of the interiors, including the bathrooms, was primarily directed by Myers and interior designer Mariel Asencio who took inspiration from traditional Caribbean design, updated with a modern twist.

“We used a backdrop of cool white walls, hardwood floors and natural stone vanities, to showcase the clean, modern style of the bathroom fixtures,” she explains. “The architecture of the Residences has its roots in the French colonial style traditional to the Caribbean and we echoed this through the interior design.” For details on residences for sale at Sugar Beach, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE RUM

Quest for Perfection In 1865 Don Juan Serrallés set out to create the perfect rum. Approximately 150 years later Destilería Serrallés continues to produce a range of rums inspired by one of the world’s most famous adventures

In Miguel de Cervantes’s world-famous 17th Century book Don Quixote, the novel’s bumbling hero and namesake sets off on a journey atop his old horse with his faithful “squire”, the simple peasant Sancho Panza. Quixote’s search for chivalry in a world which he felt had lost the noble virtues of the past is considered to be one of the world’s greatest works of fiction and a major influence on generations of writers. The tale has inspired plays, ballets, films and works of art, as well as one of the Caribbean’s finest rums: Don Q. Named in honour of Cervantes’s hero, Don Q is produced in the town of Ponce in the fertile valleys of southern Puerto Rico, where founding father Juan Sebastian Serrallés’s own journey from Spain led him. It was Juan Sebastian’s son Don Juan who first produced rum in Ponce in 1865, establishing a tradition that has been maintained and built on by successive generations of the

Left: Don Juan Serrallés

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE RUM

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

LIFE & STYLE RUM

Serrallés family. Just as Don Quixote travelled in search of a perfect world, six generations of the Serrallés family have contributed to a quest to produce the perfect rum, using only the purest of ingredients, the fresh water flowing from the Río Inabón and a copper still imported from France. Over the years, Destilería Serrallés’s journey has seen them grow from being local sugarcane growers to their current status as one of the largest rum producers in the world and one of the oldest familyowned and operated companies in the USA. Along the way Don Q has inspired the creation of iconic cocktails. In 1954, for example, Ramon “Monchito” Marrero

used Don Q to make the world’s first Piña Colada in San Juan. Today, Don Q is Puerto Rico’s best-selling rum. It is available in all 50 states of the USA and is expanding overseas. The portfolio includes the smooth clear rum Don Q Cristal, the classic Don Q Gold, the complex Añejo which is aged up to 10 years, the elegantly powerful 151º and a range of rums infused with the natural flavors of coconut, mint, passion fruit and lime. One of the most highly acclaimed products in the range is Don Q Gran Añejo – a masterful blend of rums aged for 6 to 12 years in charred American white oak barrels and rums aged for up to 20 years in Spanish

sherry casks. Gran Añejo is blended to great effect according to the solera (“fractional” aging) system to produce a golden hue, a complex nose of molasses, cigar tobacco and dark caramel and a smooth taste with pronounced notes of vanilla, cinnamon and honey. The result is the only rum in the world to win the coveted 5 Star Diamond Award. In the past five years the family’s rums have received plenty more awards too – in total, over 200 awards and accolades. Each bottle is a testament to the family’s dedication and commitment to craftsmanship. It is this commitment that has made Don Q the spirit of Puerto Rico and a testament to their quest for perfection.

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PR IME PROPE RT Y A showcase of the finest Caribbean homes for sale, directory of investment locations and the regionâ&#x20AC;&#x2122;s most sought after commercial investment opportunities

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Anguilla Antigua & Barbuda Aruba, Bonaire and CuraĂ§ao The Bahamas Barbados Belize British Virgin Islands Cayman Islands Costa Rica Dominica

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The Dominican Republic Grenada Jamaica Mexico Montserrat Nicaragua Panama

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18. 19. 20. 21. 22. 23. 24. 25. 26. 27.

Puerto Rico Roatan St Barths St Kitts & Nevis St Lucia St Martin / St Maarten St Vincent & The Grenadines Trinidad & Tobago Turks & Caicos US Virgin Islands

PRIME PROPERTY RESID ENTIAL

Life of Luxury — Anguilla New Beachfront Apartments Shoal Bay East Located directly on Shoal Bay Beach which was voted by the Discovery Channel as the best beach in the world, these 2 and 3 bedroom residences are some of the only newly built beachfront apartments for sale on the island of Anguilla. The apartments range in size from 2,500 to 3,800 sq ft and feature contemporary bedrooms, bathrooms, living and dining rooms offering panoramic views of the lush gardens, cascading pools, white sand beach and Caribbean Sea. Forming part of a new 5 acre boutique resort, these properties enjoy access to 2 restaurants, destination spa, state-of-the-art fitness centre and beach club, as well as concessions on stamp duty. When not in use owners can generate income via a rental program operated by the management. Offered at: From US $2,200,000 Anguilla Opulent Escape Measuring just 35 square miles and home to 15,000 people, the British Overseas Territory of Anguilla boasts 33 pristine, unspoilt and uncrowded white sand beaches leading down to tempting crystal clear turquoise waters and spectacular coral reefs. With beaches internationally recognised as some of the best in the entire world, plus superb spas, tennis, golf and sailing facilities, this quiet luxury hideaway attracts the jet set crowd from visiting Hollywood stars to luxury yacht owners. The real estate market is geared towards the luxury end of the market. Foreign buyers must apply for an Alien Landholders License. Why Buy in Anguilla?  Tax haven with no capital gains tax, estate tax or any other

form of direct taxation on individuals or corporations.

 World class beaches, crystal clear turquoise sea and

spectacular coral reefs.

 Friendly local people and low crime rate. For details on this property and many others in Anguilla, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

PRIME PROPERTY RESIDENTIAL

Sun, Sand & Citizenship — Antigua & Barbuda Lavish 17 Acre Estate Half Moon Bay Gracefully occupying more than 17 acres of land which slopes toward a picturesque bay and one of the most secluded and stunning white sand beaches in the Caribbean, this magnificent private estate is situated in a private area adjacent to Antigua's highly exclusive Mill Reef Club. Considered one of the most prestigious estates in the Caribbean, the property comprises a main residence, guest house with 3 bedrooms, staff house, music house and multiple outbuildings, each built in an understated style which fuses classic British-Colonial design with refined tropical elegance. Indoor and outdoor spaces, including a courtyard, orchard, manicured gardens and substantial pool, exude a sense of laid-back elegance and sophistication. Offered at: US $6,950,000 Antigua & Barbuda Besides the Beach Famed for its 365 beaches, Antigua and Barbuda is the epitome of the Caribbean dream. Antigua also offers attractive tax benefits, a stable political system and world famous sailing events. As a consequence, Antigua’s well established real estate market has attracted some of the world's icons of music and fashion, including Eric Clapton and Giorgio Armani. An almost undiscovered paradise, neighbouring sister island Barbuda remains off the beaten track. Its pristine beaches are a treasure to be enjoyed by the lucky few. All foreign buyers require an Alien Landholding License, which costs 5% of the property’s value, plus 2.5% stamp duty and legal fees. Why Buy in Antigua & Barbuda?  Established real estate and rental market with income

generating potential.

 Regional hub with international flights from the Caribbean,

Europe and North America.

 Recently introduced Citizenship by Investment Program

stimulating the market.

For details on this property and many others in Antigua & Barbuda, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Triple Delight — Aruba, Bonaire & Curacao Waterfront Luxury Home Sabadeco, Bonaire Located in a prime waterfront position in a residential area on the western coast of divers’ paradise Bonaire just north of the capital Kralendijk, this luxurious family home enjoys panoramic views of the turquoise sea. The property features 5 bedrooms, 5 bathrooms, spacious living room, dining room and fully equipped open kitchen. Interiors open on to large covered terraces overlooking the property’s elegant infinity pool, Jacuzzi, gazebo and staircases which lead directly to the water’s edge. The grounds also house a pool-side outdoor kitchen with BBQ area – ideal for eating or drinking in the shade – plus a 1 bedroom apartment. Offered at: US $3,100,000 Aruba, Bonaire & Curaçao Go Dutch Culturally and geographically distinct from other Caribbean islands, the “ABC Islands” have historical ties to the Netherlands, the legacy of which has resulted in Dutch place names and architecture. All three share a warm, dry climate, arid landscape dotted with cacti and divi-divi trees, and location outside the hurricane zone. From the property buyer’s perspective, there are no limitations on buying property. Buyers must pay a 3% transfer tax and notary fees of 1%. Foreign buyers are generally not required to obtain a license, although in Aruba buyers acquiring more than three acres for business, or one acre for residential purposes, will need an Alien Land Holding License. Why Buy in the ABC Islands?  Highly developed economies with sophisticated

tourism and financial sectors.

 Some of the best diving sites in the Caribbean.  Miles of beaches, unique rugged landscape and

fascinating colonial architecture.

For details on this property and many others in the ABC Islands, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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PRIME PROPERTY RESIDENTIAL

Warm Welcome — The Bahamas Opulent Beachfront Estate Paradise Island Located in a prestigious gated community on Paradise Island, this ultra-luxury home is situated in a prime beachfront location and enjoys beautiful views of Salt Cay, Athol Island and the turquoise waters. Exquisitely finished with marble floors and Venetian plaster, this elegant home includes 6 bedrooms, 6 bathrooms, spacious living and family rooms, home theatre, 2 offices and elevator. The property also features 2 pools – 1 outside and 1 indoor exercise pool. Residents enjoy access to a world-class 18-hole championship golf course, tennis courts and private beach club. Offered at: US $18,500,000 The Bahamas Archipelago of Advantages Comprised of hundreds of islands, rocks and reefs sprinkled like jewels in the turquoise sea, The Bahamas is breathtakingly beautiful. Countless pink and white sand beaches entice over 1.3 million tourists to visit each year. The archipelago is popular with property buyers too. Besides the beaches and clear sea, investors prize the tax benefits, stability and high standard of living. Property for sale includes some of the finest real estate in the Caribbean, including spectacular waterfront homes, private islands for sale and luxurious condos in beachfront resorts. Foreign nationals can become resident through an investment of $500,000. Buyers are required to pay a small registration fee, stamp tax ranging from 4 to 10% and legal fees. Why Buy in The Bahamas?  Offshore tax haven with no income tax,

VAT or capital gains tax.

 Less than 50 nautical miles from Miami with direct

daily flights to North America and Europe.

 Very high quality beachfront real estate and private

islands for sale.

For details on this property and many others in the Bahamas, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Beyond Compare — Barbados 5 Bedroom Beachfront Home Queen’s Fort, St James A very rare opportunity to acquire a magnificent property which enjoys a coveted, direct beachfront location on Barbados’ Platinum West Coast. Set on over an acre of private, quiet grounds filled with palms, mahogany and tropical flowers, this luxurious home is designed in a classic, elegant Barbadian style. The main house features 3 spacious bedrooms, each with en suite bathroom, plus great room and dining room opening on to a coral stone patio and the pool. A separate detached cottage houses 2 additional bedrooms. A golf course, restaurants and shops are all within easy reach. Offered at: US $12,500,000 Barbados Gem of the Caribbean With its rolling green hills, golf courses, polo fields and close historical and political links to the UK, Barbados is often referred to as Little England, but with the added benefits of sun-soaked pristine white sand beaches, world-class golf courses and polo fields. Having firmly established its luxury property market ahead of many Caribbean neighbours, Barbados has not lost its lustre. High net worth home buyers continue to value the stability and strong fundamentals of the island. There are no restrictions on non-nationals buying property, which ranges from luxury apartments to historical plantation homes. Buyers are liable for 1.52% legal fees and an annual property tax. Why Buy in Barbados?  Regional hub with international flights from the

Caribbean, Europe and North America.

 Established, stable and secure prime property market.  No inheritance, capital gains or gift taxes and new

incentives for high net worth investors.

For details on this property and many others in Barbados, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

PRIME PROPERTY RESIDENTIAL

Reefs & Rainforest — Belize Private Island Homes for Sale Placencia, Belize A limited number of 2-3 bedroom homes for sale on an idyllic, 15 acre private island formerly owned by Beatles drummer Ringo Starr. Surrounded by coral reefs, the island is located just 12 miles off the coast of a 6,500 acre resort in Belize’s Placencia Peninsula. Lining the beach, these 19 luxurious homes are designed in a stunning island style with thatched roofs and dark woods and enjoy breath-taking views. Ranging up to 5,000 sq ft, the properties feature well-appointed kitchens and plunge pools. They also enjoy access to the resort’s amenities: 24 hour concierge, beach club, golf course, marina, hotel, casino, tennis, spa, shops, restaurants and an international airport. Offered at: From US $2,500,000 Belize Jaguar Country Bordered by Mexico and Guatemala, Belize is unique in being the only English-speaking country in Central America. It has a long Caribbean Sea coastline, fringed with white and golden sand beaches. With ancient Mayan ruins hidden away in lush, old growth rainforest and the second largest barrier reef in the world just off shore, Belize is a nature lover's and a diver's paradise, attracting over 300,000 visitors per year. An attractive package of tax incentives for retirees and direct access from North America has further stimulated the real estate market. Belize is an emerging investment location with great potential. Property can be purchased in the name of an individual or a corporation. Why Buy in Belize?  English-speaking tropical paradise with miles of

beaches and rainforest.

 No inheritance or capital gains taxes.  Attractive retirement program offering residency and

exemption from Belizean income tax for participants aged 45+ with a non-Belizean based income of US $2,000 per month.

For details on this property and many others in Belize, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Vestal Vistas — British Virgin Islands 8 Bedroom Property with Sea Views Nora Hazel Point, Tortola Perched on a gentle bluff overlooking the Sir Francis Drake Channel, this magnificent, sprawling property comprises a 6 bedroom main house plus 2 bedroom independent guest house. Set on almost 2 acres of landscaped grounds filled with 20-30 foot royal palms, fruit trees and an elegant dining gazebo, the home features interior coy ponds, well-appointed kitchen, office and library. The dining room and living room open on to the swimming pool and spacious deck, ideal for enjoying the ever-changing views of passing yachts or dining under the stars. Located only a short distance from the airport, several beaches and Tortola's capital, the property enjoys privacy within a secure gated community and would make an ideal family estate or rental villa. Offered at: US $6,695,000 British Virgin Islands Yachtie’s Utopia A British Overseas Territory offering no income tax, VAT or capital gains tax, the BVI has emerged as a highly successful offshore financial centre. With 4 main islands, 11 smaller inhabited islands and 35 beachfringed islets and cays scattered in turquoise waters, the BVI is also renowned as one of the world's best sailing and diving destinations. The alluring combination of a barefoot chic lifestyle and an attractive tax regime, has helped the BVI establish itself as a real estate investment location of choice for high net worth property buyers. Non-residents require a Non-Belonger’s Land Holding License, for which there is a small application and license fee, plus legal fees and stamp duty (12%). Why Buy in the BVI?  Low tax jurisdiction with no income, capital gains,

value added, sales, inheritance or gift taxes.

 Stable property market geared towards the luxury

end of the market.

 Thriving financial centre with prosperous economy. For details on this property and many others in the BVI, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

P RO MOTI ON BVI

Star Quality With classically designed interiors radiating refined luxury and a jaw-dropping location on Tortola’s northern shore which boasts expansive views of neighbouring islands, Celestial House is, without a doubt, one of the most desirable properties in the British Virgin Islands

Incomparable Location Perched on a hilltop overlooking Long Bay in Tortola’s prestigious West End, Celestial House enjoys magical seclusion and some of the best views in the entire British Virgin Islands. From this vantage point, the property enjoys panoramic views of nearby islands which are sprinkled like emeralds on the turquoise-hued sea as well as the voluptuous rolling hills of Tortola’s verdant coastline. Exquisite Design This 5 bedroom home has been exquisitely designed and appointed throughout in classic West Indian style, making it one of the finest private residences ever to come on to the BVI real estate market. The property comprises a cluster of separate pavilions – all set in luscious, tropical gardens. Interiors feature marine-inspired designer fixtures and fittings complemented by a light, pastel colour palette that exudes understated elegance. The Ultimate Caribbean Getaway At the heart of Celestial House there is an opulent, open plan living and dining room with soaring cathedral ceiling and a spacious, gourmet kitchen, both of which open on to an expansive, wrap-around veranda, stunning semi-circular infinity edge pool and covered cliff-side gazebo. A private observatory for gazing at the

stars that gives Celestial House its name it located above the study in the main house. The bedroom suites are housed in separate casitas for privacy and come complete with features such as air-conditioning, en suite bathrooms, indoor and outdoor showers and balconies to take in the spectacular views. With two private offices and some of the most amazing views in the islands, the current homeowners find it difficult to venture away from their hillside retreat. The 60 foot curved infinity edge pool sets the dramatic stage for this "Garden of Eden" oasis, above the most picturesque shoreline views in the whole of the BVI. Upon arrival, many guests also find it impossible to venture out from the tranquil nirvana found within the hilltop grounds of this private estate home. Gateway to All the BVI has to Offer Celestial House is located a short 5 minutes’ drive to Soper’s Hole Marina with its fine restaurants, gourmet food or gift shops and yacht docking facilities. The mile long beach at Long Bay (together with its restaurant and spa amenities) is only minutes below, as is the secluded pristine beach at Smuggler’s Cove – which is protected by the BVI National Parks Trust, along with the flatlands between the two beaches. This private estate home is also situated just 40 minutes’ drive to Beef Island Airport or a short 5 minutes’ drive to the West End Ferry dock. From there, St Thomas

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

Airport is a 40 minute ferry ride away, offering direct flights to the USA, South America and multiple destinations across the Caribbean. Celestial House is the ideal base from which to discover the rest of the British (and U.S.) Virgin Islands. The 52 islands and cays which make up the BVI are considered to be one of the worldâ&#x20AC;&#x2122;s finest sailing and diving destinations, abounding with breath-taking beaches, pristine reefs and world-class marinas which are just a short journey away. So whether you would like to jump on a yacht to explore a new beach or discover the numerous restaurants and bars, Celestial House is a rare gem for its prime location, high quality finishes and well-engineered construction. Investor-Friendly Destination For property buyers, the appeal of the British Virgin Islands extends well beyond its

beautiful beaches and reefs. As a British Overseas Territory with a prosperous economy, very high standard of living and well established prime property market, the BVI offers stability and an unparalleled track record. An investor-friendly, tax-neutral territory, it also offers freedom from income tax, capital gains tax, VAT and inheritance tax. Celestial House is therefore that very rare real estate investment opportunity: an exceptional home in an unrivalled setting with unique investor benefits. It is truly a star quality property. Offered at: US $7,775,000 For details on this property, please contact: Maritha Keil, Broker/Managing Director BVI Sotheby's International Realty Office (284) 494-5700, Cell (284) 340-5555 maritha@bvisir.com, www.bvisir.com

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PRIME PROPERTY RESIDENTIAL

Unsurpassed Sophistication — Cayman Islands Opulent Beachfront Home Grand Cayman Encompassing over 15,000 sq ft of living space offering panoramic ocean views, this beachfront home is one of the finest on Grand Cayman. Located in a quiet, exclusive neighbourhood on the southern coast close to the capital George Town and the international airport, the property features 8 bedrooms, 10 bathrooms, vast open plan living room and dining room, gourmet kitchen, home theatre, library and gym. The home is finished to an exceptional standard throughout with beautiful marble and custom furnishings and offers fully automated control of temperature, lighting, blinds and security. The property opens on to an infinity pool, Jacuzzi, tennis court and outdoor kitchen with just a few steps leading directly to the white sand beach below. Offered at: US $11,995,000 Cayman Islands Life at the Top With a highly successful offshore financial centre and a tourism industry that grew 7.4% in 2013, the Cayman Islands offers one of the highest standards of living in the Caribbean. This British Overseas Territory boasts long stretches of undeveloped coastline, 300 dive sites and freedom from direct taxation – a powerful combination that has created a buoyant luxury real estate market. According to the Cayman Islands Real Estate Brokers Association, there was a 45% increase in sales in the first 6 months of 2014. The buying process is relatively simple with no restrictions on non-nationals. Property can be acquired in the name of an individual or corporation (which does not reveal ownership). Why Buy in the Cayman Islands?  Easily accessible, with one hour direct flights from

Florida and other world destinations.

 No inheritance, income, property or capital gains taxes.  Extremely safe with sophisticated infrastructure. For details on this property and many others in the Cayman Islands, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Tropical Escape — Costa Rica 3 Bedroom Mountain Retreat Tamarindo / Hacienda Pinilla This 3 bedroom contemporary home is located in a spectacular mountain setting between Tamarindo and Hacienda Pinilla in the popular Province of Guanacaste on Costa Rica's Pacific coast. Designed by a renowned French designer, the villa encompasses 3,445 sq ft of expertly appointed living space and enjoys 270 degree views of the magnificent mountains. The property features 3 bedrooms, 3.5 bathrooms, spacious reception rooms, fully equipped contemporary kitchen, plus separate 1 bedroom caretaker house. This property, which is set on 1.26 acres of superbly maintained land with an orchard and 969 sq ft infinity pool, offers excellent value for money and is located within easy reach of several beaches, a golf course, the town of Tamarindo, Liberia international airport and the American Hospital. Offered at: US $795,000 Costa Rica The Happiest Place in the World With beautiful beaches and stunning mountains, Costa Rica offers the best of laid back tropical living with the benefits of contemporary comforts. A stable democracy with one of the most prosperous economies in Latin America, this Central American country is progressive, friendly and welcoming. Education and health care is also both affordable and high quality. So, it's no surprise that Costa Rica was ranked first in the global Happy Planet Index. Across 4 mountain ranges, 800 miles of coastline and hundreds of national parks, Costa Rica also contains 5% of the world’s biodiversity. The alluring combination of landscape and lifestyle attracted 2.4 million tourists to Costa Rica in 2013 and tens of thousands of property buyers, including many from the USA. Why Buy in Costa Rica?  Stunningly beautiful, varied landscape.  Direct flights from the US, Canada, UK and Europe into

3 international airports

 Temporary residence program for retirees. For details on this property and many others in Costa Rica, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 5 | 7thHeavenProperties.com

PRIME PROPERTY RESIDENTIAL

Rainforest Retreat — Dominica 6 Acre 4 Bedroom Luxury Home for Sale Antrim Valley This 4 bedroom luxury home for sale is nestled in 6 acres of exquisitely landscaped grounds filled with fruit trees and flowers between 2 mountain peaks in the verdant Antrim Valley. Encompassing 6,700 sq ft of living space, the property includes 4 bedrooms, 4.5 bathrooms and great room with living and dining areas, 2 kitchens and family room, all enjoying spectacular views across to the sea. Outside, a gazebo provides shade from the sun and a staircase carved into the natural landscape leads down to a private waterfall, mountain stream and moss lined wading pool. With solar water heating, water treatment system, internet, air conditioning, security and hurricane shutters installed, this unique, custom built property offers complete self-sufficiency in paradise. Offered at: US $1,500,000 Dominica Untouched Island Dominica is a spectacularly green island of rainforestcovered mountains, 365 waterfalls, rushing rivers and black sand beaches. A nature lover's paradise, the island has made a great effort to preserve the pristine environment and to avoid mass tourism, preserving the spectacular natural beauty for the lucky few. The market largely comprises individual homes and beachfront lots nestled in nature rather than resort property of the kind that is common elsewhere. Buyers purchasing more than 1 acre of land for residential purposes or 3 acres of land for commercial purposes require an Alien Land Holders Licence, costing 10% of the property value, plus, in some cases, additional government fees. Why Buy in Dominica?  Untouched, pristine environment both on land

and underwater.

 Good value for money with no capital gains tax,

estate tax or death tax.

 New international airport expected to boost tourism

and real estate markets.

For details on this property and many others in Dominica, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Intelligent Investment — Dominican Republic 6 Bedroom Contemporary Home Las Terrenas Nestled in lush tropical greenery just a stone’s throw from the beach at Playa Bonita in Las Terrenas, Samaná province, this beautiful property is a masterpiece of contemporary design. The property features 6 bedrooms, 6 bathrooms and spacious living and dining rooms enjoying magnificent ocean and beach views. Fully equipped and beautifully decorated, the property opens on to a large terrace with 70 sq m swimming pool - ideal for Caribbean living at its best. Famous for its palm-fringed beaches, beautiful homes and whale watching, the Samaná peninsula on the north-eastern coast is one of the fastest growing residential areas in the Dominican Republic. Offered at: US $3,700,000 Dominican Republic Caribbean Powerhouse With thousands of miles of Caribbean beaches, stunning mountains and 30,000 square miles of lush, tropical islands to explore, the Dominican Republic is the Caribbean's top tourist destination. The country is popular with property buyers too and its real estate market has grown considerably in recent years. Investors are drawn not only to the beaches, but to the wide range of attractions, including world class championship golf courses, hotels, spas and marinas. The country also offers political and economic stability. The buying process is relatively uncomplicated and there are no restrictions on foreign nationals. Overseen by a notary, a 6-8 week purchase process involves payment of a 10% deposit (held in escrow), Transfer Tax, Stamp Duty and Notary fees by the buyer. Why Buy in the Dominican Republic?  Huge tourism sector providing high rental income

generating potential.

 Good value for money.  Excellent links: 9 international airports with 70+ flights

to the USA and Europe per day.

For details on this property and many others in the Dominican Republic, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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PRIME PROPERTY RESIDENTIAL

The Spice of the Isles — Grenada 5 Bedroom Luxury Beachfront Homes Carriacou, Grenada Grenadines Set on half an acre of grounds, these beautiful French colonial style homes enjoy magnificent views of the sea and coastline – just footsteps from the beach. The properties feature 5 bedrooms with en suite bathrooms plus a separate 1 bedroom studio. An open plan kitchen and living room opens on to a wraparound covered terrace with steps leading down to a large sundeck, infinity pool and beach deck. This property is located within a 3 acre boutique resort on the idyllic island of Carriacou – one of the world's finest sailing and diving destinations. Offered at: US $3,500,000 Grenada Un-crowded, Un-contrived, Un-commercial Grenada, known as the "Isle of Spice" because of the nutmeg, cinnamon and cocoa produced on the island, is lush and green, with verdant rainforests, spectacular waterfalls and more than 45 beautiful beaches. The waters surrounding Grenada and sister islands Carriacou and Petite Martinique are equally spectacular, renowned for some of the world’s best diving and first underwater sculpture park. The islands also offer a tranquillity and friendliness that has been lost elsewhere. Non-nationals need an Aliens Land Holding Licence and are required to pay an Alien Land Holding Tax amounting to 10% of the purchase price plus 1% Stamp Duty. Why Buy in Grenada?  Affordable real estate market in stable economic

and political climate.

 Spectacular scenery of lush rainforest covered mountains

and unspoilt beaches.

 Relatively new Citizenship by Investment programme. For details on this property and many others in Grenada, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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One Love — Jamaica Lagoon & Beach Cottages Oracabessa Bay A selection of cottages located in a boutique resort on Jamaica’s north coast, including 2 miles of coastline with coral cliffs, sheltered sand beaches, secluded coves and a lagoon – ideal for all kinds of water sports or simply relaxing in the sunshine. Cottages are situated along an emerald lagoon or the beach and are available in either 1 or 2 bedroom formats. All homes offer spectacular views, luxurious details and casually chic, environmentally friendly design. The resort is conveniently located 5 minutes from Ian Fleming International Airport. Offered at: From US $1,700,000 Jamaica Blue Mountains & White Sands From the cool hills of the Blue Mountains to the white sands of Montego Bay, Jamaica is simply stunning. Its landscape seduces the senses and has lured Hollywood royalty for decades, notably Marlene Dietrich, Marilyn Monroe and Sophia Loren. Jamaica's idyllic beaches, crystal clear sea, cascading waterfalls and lush mountainous backdrops have made the island the destination of choice for countless weddings, honeymoons and family vacations. In 2013, 2 million arrivals were recorded by this giant of Caribbean tourism. Jamaica also has a well-established second homes market. Several luxury gated communities enjoy access to championship golf courses, restaurants and spas which cater to those who plan on staying for longer than a vacation. Why Buy in Jamaica?  One of the Caribbean’s top tourist destinations with

established attractions and strong rental income generating potential.

 No restrictions on foreign nationals purchasing property.  Regular direct flights from Europe and North America,

including London, Miami, New York and Toronto.

For details on this property and many others in Jamaica, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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PRIME PROPERTY RESIDENTIAL

Mayan Magnificence — Mexico 3 Bedroom Ocean View Home Punta Sayulita, Nayarit Located in Punta Sayulita in the State of Nayarit on Mexico’s western Pacific coast, this spectacular property enjoys expansive views of the ocean, coastline and sunset. Spread across 2 levels under Palapa roofs, this 8,675 sq ft home features 3 bedrooms, 3 bathrooms, 2 outdoor showers and spacious living, dining and kitchen areas opening on to a beautiful infinity pool. The property is located within easy reach of several popular beaches and not far from the Four Seasons Punta Mita and Puerto Vallarta International Airport. Offered at: US $3,350,000 Mexico Tried & Trusted With a population of over 112 million, Mexico has the second largest economy in Latin America - predicted to be the fifth largest in the world by 2050. The landscape is as varied as the country is vast. It is one of the 18 mega diverse countries of the world and home to 10–12% of its biodiversity. The ruins of ancient empires, combined with the white sands and coral reefs attracted nearly 24 million visitors in 2013. This steady stream of visitors provides property owners with a large rental market to tap in to. A proposal to enable direct foreign ownership of beachfront property is stimulating interest in Mexico's real estate market. Why Buy in Mexico?  Top 10 world tourism destination and growing.  Established second home market with luxury facilities

and miles of Caribbean beach.

 Gateway to North, Central and South America. For details on this property and many others in Mexico, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Sea Close Up — Montserrat 3 Bedroom Sea Front Villa Olveston Located in the quiet area of Olveston, this secluded luxury villa is positioned in a breath-taking waterfront location and enjoys magical views of the Caribbean Sea and Montserrat’s dramatic coastline. The property is located on a 2/3 acre sized lot with 200 ft of sea front and well landscaped gardens, set against a backdrop of majestic, green mountains. Encompassing a total of 3,600 sq ft of interior space, designed for open plan living, dining and entertainment, the property features 3 bedrooms, 3 bathrooms, large indoor living areas and a fully equipped modern kitchen. Outside there is 3,700 sq ft of outdoor space, including an expansive covered terrace with comfortable dining and sitting areas and wet bar overlooking a large swimming pool and gazebo. Offered at: US $1,600,000 Montserrat The Emerald Isle The green-carpeted island of Montserrat was first propelled into the limelight because of its recording studio, which during the island’s 1970s and 1980s heyday, played host to countless stars of the music industry, from the Beatles and Elton John to Sting and Eric Clapton. While AIR Studios was formerly the main draw, the quiet “Emerald Isle of the Caribbean” still attracts a dedicated set of snow birds who return to soak up the sun at their spacious villas each year, the main attractions being friendly local people, rugged beauty and peace and quiet away from the crowds – qualities that are perhaps even more rare than the sighting of one of the Beatles these days. Sea front villas can be snapped up at a fraction of the cost of similar properties on other islands, and, with few remaining waterfront homes available, properties are expected to rise in value. Why Buy in Montserrat?  The ideal place to relax and forget about your worries.  Safe and secure.  Excellent value for money - prices significantly lower

than other destinations.

For details on this property and many others in Montserrat, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Opportunity on the Horizon — Nicaragua 3 Bedroom Ocean View Home Emerald Coast Located within a 2,700 acre gated residential community with 5 breath-taking beaches on Nicaragua’s Emerald Coast, this 3,290 sq ft home boasts spectacular views of the Pacific Ocean. Situated on a 0.25 acre lot with an additional 0.25 acre lot also included in the sale, this home features 3 bedrooms, 3.5 bathrooms, fully equipped kitchen and indoor living room. The property opens on to a large deck with bar, dining area, lounge area and infinity edge pool – all overlooking the Pacific Ocean. The community enjoys access to 2 oceanfront clubhouses with pools, food and drinks, riding stables, spa and yoga, tennis, plus several nature trails. Offered at: US $639,000 Nicaragua Land of Lakes The largest country in Central America, Nicaragua is sandwiched between Honduras and Costa Rica, with long Caribbean and Pacific coastlines. With a tropical climate and varied landscape the country is extremely biologically diverse, hence its nickname “the land of lakes and volcanoes”. Rich in wildlife and culture, Nicaragua was recently named by the Huffington Post as one of “the best underthe-radar destinations of 2015.” The growing tourism sector already attracts well over 1.2 million tourists per year and plans for a trans-continental canal to rival Panama’s, would, if realised, provide a major boost to economic growth. Foreign nationals can acquire real estate either personally or using a Nicaragua registered corporation and, for the time being, property prices remain low. Why Buy in Nicaragua?  Emerging real estate market with comparatively low prices.  Rapidly growing tourism destination with direct flights

from North, Central and South America.

 Attractive retiree incentives, including duty-free import

of household goods, vehicles and building materials

For details on this property and many others in Nicaragua, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Crossroads of the World — Panama Private Island Homes Pearl Islands A selection of brand new homes for sale located in a private island community in Panama's stunning Pearl Islands. Set on 0.22 acre (900 sq m) lots of land, these 3,541 sq ft (329 sq m) homes will feature 3 bedrooms, 3.5 bathrooms, opening on to over 2,000 sq ft of open and covered terraces and an infinity pool overlooking the sea and white sand beach. The homes, which will be built to US standards, are located in a community set to include a 5 star ultraluxury resort, 1,000 meter private airstrip, marina for vessels up to 150 ft, 15 separate beaches and 100 acre nature reserve. Offered at: US $950,000 Panama Ripe for Exploration Thanks to a business-friendly environment and a strategic location at the crossroads of North and South America, Panama’s US Dollar based economy grew by more than 8% per year from 2005 to 2010 with ongoing expansion of the Panama Canal expected to drive additional economic growth. With a low cost of living, low crime rate and good quality healthcare added to the mix, Panama offers a very high standard of living. Tourism is also expected to grow significantly but for the time being, the country’s breath-taking beaches, 1,800 islands and islets, thousands of miles of Caribbean and Pacific beaches and vast rainforest are still considered off the beaten track and ripe for exploration. Why Buy in Panama?  Good value but rapidly growing real estate market.  Attractive retiree scheme with duty-free imports and

discounts on healthcare and utilities.

 Progressive environment offering immigration, tax and

legal incentives to businesses.

For details on this property and many others in Panama, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Isle of Enchantment — Puerto Rico 5 Bedroom Luxury Residences Dorado Beach A selection of 5 bedroom single family homes for sale within a gated enclave of Dorado Beach, a Ritz-Carlton Reserve, on the northern coast of Puerto Rico. Set on approximately 1 acre lots, these luxurious residences start from 8,400 square feet and enjoy views of the golf course and the Atlantic Ocean. The properties feature 5 bedrooms, a dramatic double-height living room and separate maid’s quarters. Residents also enjoy access to all the amenities of this world-class beach and golf resort, including beach club, spa, restaurants and 3 legendary golf courses running through lush jungle and oceanfront coconut groves. Offered at: From US $10,000,000 Puerto Rico “Singapore of the Caribbean” Puerto Rico, together with smaller sister islands Vieques, Culebra and Mona, is beautiful and diverse, varying from sun-kissed sandy beaches to lush rainforest. A melting pot of American, Latin and Caribbean traditions, Puerto Rico is well connected to the US mainland and attracts millions of tourists each year. Having added an extra layer of appeal by introducing a range of tax incentives for investors in 2012, the territory has succeeded in luring high net worth property buyers and setting Puerto Rico on a path to becoming, what some have called, "the Singapore of the Caribbean." Foreign buyers have the same rights to purchase property as in the USA and property can be purchased through a corporation, which reduces the time to completion. Why Buy in Puerto Rico?  Strong tourism and real estate sectors fed by

the USA market.

 Direct flights from Europe and North, Central

and South America.

 Quality property for sale including beachfront

condominiums, golf villas and cliff top homes.

For details on this property and many others in Puerto Rico, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Laid Back & Low Key — Roatan 4 Bedroom Home with Guest House Lawson Rock Located in the prestigious Lawson Rock, the finest residential community on Roatán, this beautiful beachfront home enjoys spectacular views of the sea. This home, which was extraordinarily designed and constructed for durability and ease of maintenance, features 4 bedrooms, 4 bathrooms plus 2 living rooms, 2 kitchens and dining room. The property is offered fully furnished and turn key – ready for immediate occupancy or rental. The owner will enjoy use of the many amenities of Lawson Rock, including 3 shared swimming pools, 800 meters of beachfront, gym, concierge service, 24 hour security and more. Offered at: US $1,500,000 Roatán Life’s a Beach Located 30 miles off the coast of Central America, Roatán is the largest of the Bay Islands and renowned for its lush forests, beaches and 34 miles of coral reef. Laid back, low key and relatively undeveloped, Roatán is ideal for laid back island living. The tourism, cruise ship and real estate sectors have been boosted by its status as a tax free and duty free zone and the recently expanded international airport which welcomes direct flights from various cities including Miami, Houston, Atlanta, Toronto and Milan. Foreign nationals can acquire up to 3,000 sq m of land and larger areas via a corporation as either sole or joint owner. Fees typically amount to approximately 6% of the purchase price. Why Buy in Roatán?  Beachfront real estate offering excellent value for money.  Direct international flights from multiple cities in the

USA and Canada.

 Rapidly developing tourism sector with world class

diving and golf.

For details on this property and many others in Roatán, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Historical Home — St Barts 6 Bedroom Beachfront Estate Lorient Beach Located just 100 yards from beautiful Lorient Beach, one of the finest beaches in St Barts, this magnificent property is a Normandy manor house dating from 1610 which was painstakingly shipped, plank by plank, and reassembled in Lorient, St Barts in the 1980's. The 32,000 sq ft property has since been expertly modernised and transformed into a spectacular private home, featuring bedroom suites housed in a cluster of separate pavilions, spacious open living and dining spaces, lush tropical gardens and a huge swimming pool. Interiors are designed in an chic and contemporary, understated palette of whites, greys and blacks that are the perfectly complement to the rustic simplicity of the home’s historical feel. Offered at: US $19,700,000 St Barts Jewel of the French West Indies In its mere 8 square miles, tiny St Barthélemy manages to exude a distinct Frenchness, from the glamour of the capital Gustavia, with its designer boutiques and restaurants, to the Gallic charm of the island’s red roofed cottages. Its rugged coastline, beautiful bays and 17 beaches have been a playground of the rich and famous for years. While more affordable condos are available, the average transaction ranges from €5 to €10 million but prices regularly soar north of €30 million, reaching as high as €65 million. A bonus for owners: No annual property tax. Once a contract has been signed, the buyer pays a deposit of at least 10% into an escrow account held by a Notaire (Notary). Legal fees and taxes typically amount to 6.5% of the purchase price. Why Buy in St Barts?  Established world class tourism destination with an

extremely high standard of living.

 Palatial estates can provide owners with significant

rental income.

 Part of the Eurozone and subject to French law. For details on this property and many others in St Barts, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Best of Both — St Kitts & Nevis 6 Bedroom Beachfront Property Nevis Set on almost 2 acres of mature, landscaped gardens planted with royal palms and flowers, this spacious family home enjoys a rare beachfront location and beautiful sea views. The property consists of a main house plus 2 guest cottages tucked away in the peaceful garden, with a total of 6 bedrooms and 6 bathrooms. The main house also features a large kitchen and living room which opens on to a covered terrace with sitting and dining areas overlooking the pool and the sea. The grounds also house a tennis court and gate leading to an intimate sandy beach. Offered at: US $5,250,000 St Kitts & Nevis Fertile Ground With golden sand beaches set against a dramatic backdrop of rainforest covered mountains, St Kitts and neighbouring sister island Nevis are blessed with a truly spectacular landscape. Thanks to a successful Citizenship by Investment program, St Kitts & Nevis is also enjoying economic growth and has flourishing luxury real estate and tourism sectors. Add to this beautiful coral reefs, golf clubs, colonial fortresses and plantations, varied dining options, hospitable people and an attractive tax regime and it’s clear why the twin islands have become such an appealing proposition to both property investors and the half a million tourists who visit each year. Why Buy in St Kitts & Nevis?  World’s longest established Citizenship by

Investment programme.

 No income, inheritance or wealth taxes and low

annual property tax (0.2% of market value).

 Rapidly developing tourism and property market

with significant potential.

For details on this property and many others in St Kitts & Nevis, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Lushness & Luxury — St Lucia 5 Bedroom Luxury Home Cap Estate, St Lucia Set on 2.5 acre grounds planted with palms, flamboyant and frangipani, this outstanding home is located in the prestigious area of Cap Estate. The property features an 8,000 sq ft contemporary plantation style main house with 4 bedroom suites, triple height atrium, formal and family living rooms, dining room, chef 's kitchen and office. A wrap-around terrace leads down to the gazebo, manicured gardens, cottage and pool with spectacular views of Pigeon Island and the Caribbean Sea. Conveniently located close to a golf course, several beaches and Rodney Bay Marina, and with approved plans in place for 6 additional split-level cottages, this property offers tremendous potential. Offered at: US $3,500,000 St Lucia Soaring Beauty With the iconic Pitons, breath-taking beaches set against lush rain forest covered mountain backdrops and thundering waterfalls, St Lucia is blessed with dramatic scenery. Highly regarded hotels, spas, marinas and a championship golf course have created a flourishing tourism industry and enticed many others to invest in real estate. The market expanded rapidly up until cooling at the time of the 2009 financial crisis. As the economy in the USA and Europe has improved, the St Lucian real estate market has begun to recover too. Property prices remain highly attractive. Buyers are required to cover the cost of stamp duty (2%), legal fees and an Alien Landholders License. Why Buy in St Lucia?  Easily accessible with direct flights from the UK, Germany,

the USA and Canada.

 Stunning natural beauty combined with wide-ranging

cultural and entertainment options.

 Rapidly growing property market with high probability

of long-term price appreciation.

For details on this property and many others in St Lucia, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Twin Beauties — St Martin St Maarten 5 Bedroom Beachfront Estate Baie Longue, St Martin Located 10 minutes from Marigot and 15 minutes from the airport directly along the white sands of Baie Longue Beach, this magnificent estate is just footsteps from the reef-protected Caribbean Sea. The property features 5 air conditioned bedrooms all with en suite bathrooms, living room, dining room and fully equipped kitchen, gym and tennis court. A covered terrace offers spacious areas for lounging in the shade. The terrace encloses a garden on 3 sides that is filled with elegant palms and tropical flowers and leads to a large pool deck, pool and gate to the beach. Offered at: US $6,500,000 St Martin / St Maarten The Jet Set Island Having been shared by the French and the Dutch since 1648, this 37 square mile island has an exceptionally cosmopolitan and diverse feel. The Dutch side is an autonomous country within the Kingdom of the Netherlands. The French side is an overseas territory of France. French St Martin is renowned for luxurious estates, calm beaches, boutiques and bistros, whilst Dutch St Maarten is known for its cruise port, colonial buildings and casinos. The 470,000 visitors (including a large number of property owners) that head to the island each year, enjoy the best of both worlds: gourmet cuisine, buzzing nightlife, spectacular beaches and island-wide dutyfree shopping. Why Buy in St Martin / St Maarten?  Established tourism and property market with varied

dining, shopping and entertainment options.

 French / Dutch territory with stable political and

economic climate.

 No property or capital gains taxes (St Maarten). For details on this property and many others in St Martin / St Maarten, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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The Joys of Spring — St Vincent & the Grenadines 3 Bedroom Luxury Home Spring Estate, Bequia Nestled within 2 acres of lush gardens, this beautifully designed home hugs a hillside in the quiet, private Spring Estate on the island of Bequia. The location offers panoramic views over Spring Estate, Spring Bay and the nearby islands of Battowia and Balliceaux. Designed in a style that blends Caribbean casual elegance with contemporary flair, the property features a spacious open plan living and dining room with gourmet kitchen and bar seating 4. French doors lead to a large pool deck and infinity pool. Located just 5 minutes’ drive from several beaches and restaurants this property has a successful rental history. Offered at: US $1,600,000 St Vincent & the Grenadines Dive In With pristine beaches, turquoise sea and verdant, green mountains, the 32 unspoilt islands of the Grenadines have long been a favourite of royalty and well known personalities, most famously Princess Margaret, Mick Jagger and Bob Dylan. Untouched by mass tourism, the islands offers some of the Caribbean’s best diving and sailing Caribbean and are beloved for their natural beauty and authenticity. The archipelago has already established itself as one of the world’s most desirable real estate investment locations. A new international airport scheduled to open in St Vincent will only enhance its appeal. The purchasing process is straight forward. Nonnationals require an Alien Land Holding License, Why Buy in St Vincent & the Grenadines?  Unspoilt landscape with affordable virgin beachfront

land available at comparably low prices.

 No inheritance or capital gains taxes and low

property tax.

 New international airport in development For details on this property and many others in St Vincent & the Grenadines, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Perfect Pair — Trinidad & Tobago 4 Bedroom Cliff-Top Home Tobago Spectacularly positioned on a bluff 5 minutes from Tobago's capital Scarborough and 20 minutes from the airport, this opulent 4 bedroom home enjoys sweeping 180 degree views of the Atlantic Ocean. Designed by one of the Caribbean's most renowned architects, this 7,000 sq ft (650 sq m) property comprises a cluster of Balinese style pavilions set within 1 acre of lush tropical gardens with steps leading down to a small sandy cove, protected by a reef just out in the bay. 4 lavishly furnished en suite bedrooms surround a large sun deck with 2 infinity edge pools, large gazebo, Jacuzzi and 20,000 gallon koi fish pond. Offered at: US $4,500,000 Trinidad & Tobago Nation of Contrasts While the much larger Trinidad is famous for its spectacular carnival and as the birthplace of the steel pan, the smaller Tobago is better known as a sanctuary for 6,000+ species of wildlife, from spectacular coral to rare birds. The twin island nation is a melting pot of cultures. Over the years, large communities of Europeans, Africans, Chinese and Indians have settled, each making their mark on the country's food, culture and music. Trinidad has a number of high quality residential developments in its cosmopolitan capital, Port of Spain. More oriented towards tourism, property for sale in Tobago includes villas with high rental income potential. Foreign nationals require an Alien Landholding License to acquire more than 1 acre of land. Why Buy in Trinidad & Tobago?  Sophisticated infrastructure and developed economy.  Direct flights from Europe, the Caribbean and many

North, Central and South American cities.

 Strong rental market driven by expat community. For details on this property and many others in Trinidad & Tobago, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Postcard Perfect — Turks & Caicos 4-5 Bedroom Beachfront Home Grace Bay, Providenciales Directly fronting on to one of the most idyllic beachfront sites in the Turks & Caicos Islands (TCI), this majestic, Colonial-style home enjoys panoramic views of 7 miles of white sand and the glittering turquoise sea. The 5,159 sq ft property is set on 0.7 acre grounds with 133 feet of prime beach frontage. It features 4-5 bedroom, 4-5 bathroom, masterpiece kitchen, expansive casual dining and living space – exceptionally finished with hardwood floors, doors and staircase, stone countertops and elegant slate tiled bathrooms. A screened indoor/outdoor living room overlookings the 42 foot heated swimming pool and beyond to Grace Bay. Offered at: US $8,450,000 Turks & Caicos True Blue Comprised of 40 islands and cays with 230 miles of pristine white sand beaches and beautiful coral reefs, the Turks and Caicos Islands (TCI) is home to a population of 37,000. This includes a large expatriate community drawn to the stunning landscape, sophisticated infrastructure, world-class resorts and attractive tax environment. As a British Overseas Territory with a US Dollarbased economy located just 75 minutes from Miami, the TCI has established itself as a firm favourite with American, Canadian and British real estate buyers. Property offers high rental income generating potential and non-residents, who can purchase absolute freehold title, may be eligible for permanent residency. Residence Certificate. Why Buy in Turks & Caicos?  Easily accessible, with 75 minute direct flights from

Florida and other world destinations.

 No inheritance, income, property or capital gains taxes.  Stable British Overseas Territory with sophisticated

property market and tourism industry.

For details on this property and many others in Turks & Caicos, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Charming Escape — US Virgin Islands 4 Bedroom Mediterranean Style Villa Peter Bay, St John Located less than 300 feet from the beach and just minutes from Cinnamon, Trunk, Maho and several other beaches on the northern coast of St John, this elegant Mediterranean style villa offers spectacular views of the neighbouring British Virgin islands. Set on 1 acre of landscaped grounds nestled in lush greenery within the gates of Lower Peter Bay, the 6,350 sq ft property features 4 bedrooms, 4.5 bathrooms and spacious living and dining rooms. The property opens on to a spacious terrace with infinity pool, hot tub with waterfall, gazebo, outdoor kitchen and plenty of space for eating, drinking and relaxing while enjoying the view of passing yachts Offered at: From US $5,250,000 US Virgin Islands American Archipelago Comprising the main islands of St Thomas, St John and St Croix, plus several smaller islands, the U.S. Virgin Islands is an American territory in the Caribbean. Each island has its own unique character and features. St Thomas is famous for its beautiful harbour area offering fine dining, shopping and nightlife. St John is home to the 7,000 acre Virgin Islands National Park, while historic St Croix is renowned for its well preserved colonial architecture. The real estate market in the U.S. Virgin Islands is largely driven by American buyers, so, as the U.S economy has returned to growth, the property market in the USVI has begun to benefit from the upswing. Why Buy in the US Virgin Islands?  Strong tourism industry (nearly 2 million tourists per year)

providing rental income generating.

 No passport required for US citizens.  Secluded beaches, world-class diving and superb sailing. For details on this property and many others in the US Virgin Islands, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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PRIME PROPERTY COMMERCIAL

A Promising Pipeline With a strong pipeline of new hotel rooms and improving performance data, tourism in Central America and the Caribbean is poised for growth, says hotel research expert STR

Source: STR & STR Global

FAT I M A T H O M P S O N

Turks & Caicos

560

Existing Supply

Haiti

593

Pipeline

Puerto Rico

697 870

Dominican Republic Jamaica

980 1,224

Costa Rica Cuba

1,576 2,880

Bahamas Panama

2,934

Mexico

19,443 0

50,000

With 439 hotels projects in development in Central and South America totalling 70,970 rooms and 167 hotel projects totalling 29,430 rooms in the Caribbean and Mexico, the regions are demonstrating considerable growth and improvements in performance, setting them on a positive trajectory for growth. A large proportion of this growth is taking place in Mexico and Central America. Mexico leads the region with 19,443 rooms being added to an existing supply of 347,332 rooms â&#x20AC;&#x201C; a number which already dwarfs any other Caribbean or Central American destination. In total there are 125 hotel projects in the pipeline in Mexico. This growth, a majority of which is in the upscale and midscale chain scales, is expected to cement the countryâ&#x20AC;&#x2122;s status as a tourism powerhouse. Recent openings include the 1,100-room Royalton Riviera Cancun, the 140-room Hyatt Place Ciudad del Carmen and the 156-room Courtyard by Marriott Queretaro and several major international hotel brands have announced plans to open new hotels in Mexico, including IHG and Sofitel. Panama ranks second in terms of rooms

117

100,000

150,000

200,000

250,000

in development with a pipeline of 2,934 new rooms in development. Several new hotels have opened recently in Panama City, including a 165-room Hyatt Place, 347-room Hilton and Grace Panama, a 60room contemporary urban boutique hotel, all built to tap into the growing business and leisure markets, which have been stimulated by successive years of economic growth and the expansion of the Panama Canal. The Caribbean hotel sector, which suffered significantly from decreased demand levels in 2008-2010, has also begun to bounce back. The Bahamas has led the way in terms of new supply growth with 2,880 rooms in development, building on an existing supply of 13,241. While there are 9 hotel projects in development, a substantial proportion of this growth comprises Baha Mar, the multi-hotel complex in Nassau slated for opening in late Spring 2015. The resort is set to include a 1,000-room Baha Mar Casino & Hotel, a 700-room Grand Hyatt, a 200room Rosewood Hotel and a 300-room SLS Lux Hotel. Jamaica is also building on a substantial existing supply, with an additional 980 rooms in the pipeline. The Caribbean has, in general, man-

300,000

350,000

400,000

aged to improve performance levels too. Both occupancy and ADR (Average Daily Rate) have begun to improve. Across the region RevPAR (Revenue per Available Room) has enjoyed a moderate increase. In year-to-date October 2014 results, St Lucia increased RevPAR more than any other Caribbean destination. RevPAR grew by 24.0% to $259.71, which placed it at the top of the Caribbean RevPAR leader board, with Jamaica next in line with a RevPAR increase of 23.6 percent to $148.55. Aruba and the Turks & Caicos Islands also both achieved RevPAR increases of 15.4% and 13.1% respectively. Overall the pipeline and performance suggest that the tourism sector is in a far better position than it was 5-6 years ago and set for future growth. The improvement is certainly positive for real estate investors too. Typically, the opening of hotels brings with it investment in an area and its infrastructure. So, good news for the hotel sector often means good news for the real estate sector too. All in all, a pipeline with promise. Fatima Thompson, FThompson@str.com Patricia Boo, pboo@strglobal.com

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PRIME PROPERTY COMMERCIAL

Growth Opportunity As the tourism-dependent islands of the Caribbean slowly return to economic growth and Central America races ahead, Gabriel Torres, VP and Senior Credit Officer at Moody's Investors Service, forecasts an increasingly positive outlook for the region RO B ERT CO O P ER

Aa1

Moody's Rating

Aa2

Source: Moodyâ&#x20AC;&#x2122;s Investors Service

Aaa

Aa3

Aa3 A1 A2 A3

Baa1 Baa2 Baa3

Ba1, Ba2, Ba3 B1, B2, B3

Baa2

Bahamas

Panama

Baa1

St Maarten

Trinidad

Ba1

Caa1, Caa2, Caa3

Ca, C

Barbados

St Vincent Dominican Costa Rica & the Republic Grenadines

How would you describe the economic outlook for the Caribbean and Central America? Letâ&#x20AC;&#x2122;s start with the Caribbean. For a long time, six years or so, the Caribbean was hit really hard. One way of looking at it, it is very dependent on tourism and there is a lot of research which shows that tourism in the Caribbean is not directly linked to GDP changes but to changes in employment. So, therefore even if the economy recovered, employment lagged for quite a while. So it took a while for that to feed in. The more recent numbers indicate that there is a recovery in some of the countries. So that is the good news, but generally the Caribbean is vulnerable to all kinds of shocks. Central America is a slightly different story. They have generally grown at a faster rate, depending on the country. For example, Panama has grown at a very fast rate. Even in the Caribbean, a country like the Dominican Republic which is usually for analysis purposes grouped with Central America rather than the English-speaking Caribbean has generally grown well. So what you are saying is echoing what the IMF has been saying.The IMF groups the Caribbean and Central America in to three different

& Tobago

Cayman Islands

groups: the tourism-dependent economies that have struggled but have started to pick up, the commodity exporters that have achieved slightly higher growth over the last few years and have an even rosier future and then Central America, including the Dominican Republic, which have been the stars of the region? I think the numbers show that that is true. However, there is a big difference even within Central America between El Salvador and Panama, say, in terms of growth. So, clearly thus far it has been Panama, purely in terms of growth. I would say other countries like Costa Rica, where they have not so high growth, but are very stable, have done very well, but El Salvador, for example, has been lagging. All in all, I think that that division is correct. Within the Latin America and Caribbean region, the Caribbean as a region is slowest in terms of growth but slowly changing for the better. Within the Caribbean region, there are some islands that have been more successful than others. St Kitts & Nevis, for example, repaid some debt early to the IMF in 2014 and seemed

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Source: Moody’s Investors Service

Real GDP 2015F (% change) Barbados

1% 1.5%

St Maarten Jamaica

1.8%

Cayman Islands

Bahamas

2.2%

St Vincent & the Grenadines

2.7%

Trinidad & Tobago

3.2%

Costa Rica

4% 4.8%

Dominican Republic

5.8%

Panama 0

to get glowing reports because of that. So, are there some exceptions, some stars that are performing well? For example, the Cayman Islands are very small but rich. The problems that they face are very different to those of Jamaica, a much larger economy relative to Cayman, but poorer. So, for the Cayman Islands to not grow as much is less of a problem as they have very little debt and are very rich. Barbados, for example, appears to have had problems. They are all different, but you can see trends in many of these countries. Most of them are slowly beginning to recover. Which territories would you feel most confident about? In terms of growth, it is the countries we were talking about. It’s Panama. The Dominican Republic has had volatile but also fast growth. The rest of the Englishspeaking Caribbean, in terms of pure growth, there aren’t any pure stars, if, by stars, we mean growth of 4 or 5 per cent. We’ve seen countries recovering from, let’s say from -1 to +1 per cent – Jamaica, for example. That’s certainly better, but I wouldn’t call that a star. It’s a bit difficult to re-invent yourself. Tourism is a bit of a mature industry and I’m not sure you can become like Dubai, which combines tourism attractions with all kinds of real estate and shopping opportunities and becomes a regional hub for that. It is hard for a country to grow very fast if all you have is tourism. That’s why the initial conditions make a big difference. If you are rich already like the Cayman that’s very powerful. It helps you a lot. All in all, Panama, with the canal and, with a glow effect, maybe potentially one or more countries in the region become hubs for logistics on the back of the Panama Canal. There is speculation about the possibility of a canal constructed by the Chinese in Nicaragua that would be a game changer were it to happen.

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In the case of Trinidad & Tobago, there is a possibility of more growth over time as they develop more gas resources. They had a few years of very fast growth due to world prices. I don’t suspect that they will return to that. In other words, they have a very different economic base. It depends more on what they find, on gas deposits. What has been the secret of success for the Dominican Republic? The Dominican economy and land mass are much larger than other Caribbean islands. This supports a much more diversified economic base, where domestic demand is an important contributor to growth. The fact that the exchange rate is not pegged to the US Dollar and the Dominican Peso has consistently weakened against the Dollar, makes the tourism offering much more competitive. Moreover, the hotel and tourist infrastructure is relatively newer and the tourist source markets include a lot of South American countries that feel more comfortable with a Spanishspeaking destination. Are there any other key takeaways for investors? I think the key issue in terms of the region is that the region was hit very hard, beginning to recover, but still susceptible to external schocks. Particularly for the island economies. All it takes is a bad hurricane for the improvements to be de-railed. I always give the example of the Cayman Islands and Grenada in 2004. Both of them were hit by the same hurricane. Grenada ended up in default. The cost to the economy in the Cayman Islands was estimated at that time in excess of 200% of GDP, but it was re-built as it was all insured by private insurance because the islands are wealthy. So, the initial conditions make a huge difference from one country to another.

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P RO MOTI ON SAIN T L UCIA

Welcome to Saint Lucia McHale Andrew, CEO of Invest Saint Lucia, talks exclusively to The Caribbean Property Investor about investment opportunities in Saint Lucia and why he believes the island is the best place to do business in the English-speaking Caribbean

Saint Lucia Real GDP - Annual % Change 2.2%

2.0 1.0 0.0

Saint Lucia Visitor Arrivals

1.4% -2.3%

571,894 594,118

600,000

2012

500,000 400,000

-1.1%

300,000

2013

306,801 318,626

200,000

-1.0

100,000

-2.0 2013

2014 (e) 2015 (e)

Renowned worldwide for its striking natural beauty, Saint Lucia is one of the brightest jewels of the Southern Caribbean. Within its 238 square miles, the enchanting island is almost overflowing with palm-fringed beaches, luscious rainforest and the majestic Piton mountains. Hence, the tourism slogan “Simply Beautiful.” However, as McHale Andrew, CEO of Invest Saint Lucia, explains, the island offers much, much more. Over the last 40 years, Saint Lucia has succeeded in luring 215 major investors from 25 countries, resulting in almost US$1 billion in foreign direct investment. I begin by asking Andrew which sectors Saint Lucia is focussing on. “Our approach is to build on our strengths and successes,” Andrew says. “Our initial focus is therefore on the three key sectors we have already developed a strong

2019 (e)

Stop-over

track record in: tourism, smart manufacturing and infrastructure.” “Tourism has been our major focus for the last 20 years. It provides Saint Lucia with the opportunity to substantially expand its economy at a rapid rate. As the average daily spend of an overseas visitor is much higher than the average Saint Lucian, tourism provides an opportunity to sell our goods and services,” he explains. “Tourism also helps to create a market for our goods and services overseas. Saint Lucia has been very successful in attracting world-class hotel brands to the island, but there is still a vast and largely untapped opportunity to explore in developing attractions for visiting tourists, such as galleries, shops and entertainment. We have also not yet fully explored opportunities to export our world-class products, such as artwork, food and drink products, rums and so on.”“This brings me to the next sector… smart manufacturing,” he adds. “Saint Lucia is blessed with fertile soil and year-round sunshine.

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Cruise

Leveraging our natural attributes, several private businesses in Saint Lucia, such as Baron Foods, Viking Traders, Saint Lucia Distillers and Winward & Leeward Brewery, have already achieved national and international success in manufacturing high quality goods that are exported across the Caribbean, North America and Europe. This is a sector that has substantial additional potential. Our rich biodiversity and maritime resources have multiple commercial applications that we have barely begun to explore. For example, plants indigenous to Saint Lucia have applications to the medical sector, health and wellness and the rapidly expanding nutraceuticals market. We also have built capabilities in high quality manufacturing for the construction trade. Brice & Co, for example, produces steel columns, metal roofing and guttering products which are exported across the region.” “The third focus sector is infrastructure. In terms of area, Saint Lucia is roughly the

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same size as Singapore. However, due to natural spatial discontinuities, development in certain areas has been constrained. The Government of Saint Lucia has ther efore prioritized the elimination of these spatial discontinuities, which presents investors with a host of investment opportunities in hard infrastructure, by which I mean investment in the development of bridges, roads, airports and seaports. Hard infrastructure development offers benefits to investors, as well as to the people of Saint Lucia, by helping to improve domestic and international access to the Saint Lucian market.” “There are also opportunities in soft infrastructure. By soft, I am referring to opportunities to develop the ICT sector, alternative energy and institutions involved in health, education and research. Saint Lucia is the ideal location for soft infrastructure investment. We are well connected by daily international flights to the USA, Canada, Europe and the Caribbean. Additional in-

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ternational flights are being added all the time. Delta has announced a new nonstop service to New York and JetBlue has announced a new non-stop service from Boston. We also have a skilled Englishspeaking workforce and a stable, efficient regulatory environment.” How is the Government of Saint Lucia encouraging foreign investment, I ask him. “We are making a wide range of internal changes to ensure a seamless experience for investors doing business in Saint Lucia,” Andrew clarifies. “We are determined to ensure that Saint Lucia is a great place to do business and that Invest Saint Lucia is your ‘one stop shop’. We have also brought in specific incentives for our focus sectors. For example, we have implemented new legislation to offer a wider range of concessions for local and foreign hotel investors. For the first time villas are also included as a “tourism product” and now eligible for incentives. To encourage investment in the energy sector, the Government has been

working with the World Bank and Carbon War Room to determine our future energy generation requirements and the suitability of different kinds of energy production and we have been working with government on an RFP process.” So, in summary, I ask Mr Andrew, what is his key message for investors? “Well, our tourism slogan ‘Simply Beautiful’ captures Saint Lucia’s outstanding natural beauty and encapsulates the tourist experience. Moving beyond natural beauty, the reforms and incentives we are putting in place for business mean that “Simply Beautiful” is becoming a meaningful proposition for investors too. In a nutshell, Saint Lucia is a politically and economically stable market with a strong track record, business-friendly environment and promising infrastructure, which is why we have been ranked among the best places in the Caribbean to do business for more than 6 years. So, my message for investors is, welcome to Saint Lucia.”

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PRIME PROPERTY COMMERCIAL

Changing Rooms Once small, functional and uninspiring, bathrooms in new hotels and resorts are now built on a grander scale and equipped with spaquality technology. We asked Kohler distributor Melissa Thompson of Grand Cayman-based A. L. Thompson Building Supplies Ltd. what developers need to know about the evolution of the resort bathroom

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Above: Kohler Purist spa bathtub, The Water Colours, Grand Cayman Left: Kohler bathtub with light therapy, Presidential Suite, JW Marriott Santo Domingo

Across the Caribbean and Central America, there are tens of thousands of hotel rooms and private homes in development. Where a drab, practical bathroom once stood, more inviting spaces, almost private spas in miniature, are being created. These breath-taking bathrooms now take center stage in hotel and resort marketing material. The headline-hitting $8,000 Kohler bathtub with light therapy, massage and hydrotherapy that was recently installed in the presidential suite of Santo Domingo’s new JW Marriott is a case in point. Bathrooms have become key to competitive differentiation and attracting guests and buyers. To understand the key trends in bathrooms, we spoke to Melissa Thompson of A. L. Thompson Building Supplies Ltd. in the Cayman Islands, which supplies everything one could possibly need for the home. “Bathrooms in new builds tend to be

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lighter, brighter and more open,” Melissa explains. “Bathrooms are being positioned to enjoy the sea, beach and pool views that the Caribbean is famous for and bring the outside in. Large windows really help, as do high ceilings and clever use of mirrors, frameless clear glass, natural light and overhead directional light to provide the feeling of a larger space and to make the most of the natural surroundings.” “Besides positioning and design, technology is transforming the resort bathroom,” Melissa adds. “Custom-built showers incorporating rain showers and body sprays, such as Kohler’s luxurious WaterTile series, are ideal for creating the relaxing, memorable showering experience that hotel guests crave and the stylish design that home buyers seek out. In-room innovative entertainment systems, such as Kohler’s DTV, offers custom settings and user profiles for music, lighting, steam and water flow to offer a spa-like experience in the bathroom. These systems really help a resort to stand out.” “Technological innovation has not been limited to the shower. The bath has been transformed too,” Melissa says. “Manufacturers such as Kohler have introduced innovations including hydrotherapy baths with adjustable jets that target key points on the body, effervescence air baths and baths with bubble massage or heated surfaces for warming the shoulders, neck and back. Most recently, Kohler launched VibrAcoustic Hydrotherapy – a really ex-

citing technological innovation for baths that allows you to play soothing music via a smartphone or tablet that fills the bathroom and produces relaxing vibrations that you feel through the water for the ultimate spa-like experience.” “The toilet has had a makeover too. Kohler’s Numi toilet is, in my opinion, the most technologically advanced product on the market with auto open and close, heated seat, foot warmer, bidet functions, lighting, music options and dual flush.” Melissa explains what is driving these trends. “Developers recognize that hotel guests and property buyers are looking for a truly relaxing experience – a mini-spa in the privacy of their own room. Energy and water efficiency also play a big part in new construction. Manufacturers are responding to this, launching products that are ecosensitive in design and offer extra comfort.” So what’s Melissa’s advice to developers seeking to use the bathroom to differentiate themselves? “Color can play an important part in bathrooms, whether on accent walls with paint or wallpaper, lighting fixtures or plumbing fixtures.” Melissa recommends white, biscuit, chrome, polished and brushed nickel. “Moving the bathroom outside can also make a real statement,” Melissa adds. “Outdoor baths and showers are a huge emerging trend. They really make the most of the Caribbean’s spectacular natural beauty.” So, with technology transforming the bathroom into a spa-like personal sanctuary and contemporary design creating an open, welcoming space in tune with the landscape, the resort bathroom has evolved into a new battleground for Caribbean developers and marketers that should not be overlooked.

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PRIME PROPERTY COMMERCIAL

Tranquil Getaway â&#x20AC;&#x201D; Dominica: Award-Winning Beachfront Hotel for Sale Located in Marigot on the north-eastern coast of Dominica, just 10 minutes from Melville Hall Airport, this oceanfront boutique hotel for sale comprises 4 cabanas, 2 villas, restaurant, reception area and pool on 1.7 acre grounds overlooking the tranquil Pagua Bay. Set amongst palm trees and fruit trees, the hotel offers the perfect place for a quiet and relaxing get away. It is ideal for guests to enjoy walking on the beach or swimming in either the sea or the crystal clear Pagua River. Conveniently located on the main route to the capital Roseau, the hotel is the ideal base from which to explore many of Dominicaâ&#x20AC;&#x2122;s top tourist attractions, including the Waitukubuli Trail, Charles Warner Hike, Spanny Falls, River Tubing, Carib Territory, Emerald Pool as well as numerous other hikes and waterfalls, both on and off the beaten path. The hotel has been designed in a contemporary West Indian style, which achieves a perfect balance of traditional Caribbean and clean, contemporary design, perfectly suited to the stunning setting. All the spacious rooms are positioned to catch the tropical breeze and

equipped with upscale fixtures and fittings, high quality bedding and linens and modern bathrooms. The restaurant and reception area encompasses over 1,000 sq ft of indoor space and 2,500 sq ft of covered outdoor space, which allows for outdoor seating year round, regardless of the weather. An outdoor deck leads to a 45 ft long x 20 ft wide pool adjacent to the restaurant and poolside bar with unbeatable sweeping views of the Atlantic Ocean. With planning approval for 3 additional villas or cabanas and adjacent land available to purchase as well, there is room for expansion. Offered at: US $2,900,000 For details on this hotel for sale, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Golden Opportunity â&#x20AC;&#x201D; Jamaica: 284 Acres of Pristine Beachfront Land A rare opportunity to acquire a 284 acre parcel of pristine land located near Port Antonio in the stunningly beautiful Jamaican Parish of Portland. Located on the north-eastern coast of tourism powerhouse Jamaica, this parcel of land is ideal for the development of a beachfront hotel and luxury residences. The parcel is covered by pristine, lush greenery and includes a 600 metre strip of secluded, rich, honey-coloured beachfront. The parcel encircles the Ken Jones Aerodrome, offering an investor the potential to develop the Caribbean's first resort to include a private air strip - a truly unique development opportunity. Portland is an exclusive, high-end destination, boasting some of the most expensive, secluded and luxurious properties on Jamaica, with typical room rates of up to US $1,000 per night. First "discovered" by Errol Flynn (who soon made the Parish his home), Portland has, for decades, attracted movie-stars, musicians, and movie producers seeking an idyllic, tropical getaway or exotic production location.

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Portland is still relatively undeveloped and retains its natural charm and beauty, making this parcel of land ideal for the development of a luxury resort and property development. The area has recently benefited from hundreds of millions of US Dollars of public and private investment, positioning it for a tourism boom. www.demerarabeach.com Offered at: US $9,800,000 For details on this land for sale, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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PRIME PROPERTY COMMERCIAL

Emerald Investment â&#x20AC;&#x201D; Montserrat: 13 Acres of Seafront Land, Woodlands Rare opportunity to acquire one of the last remaining substantial seafront lots of land for sale on the centralwestern coast of Montserrat. Set against a backdrop of verdant green mountains, this 13.1 acre parcel of land located in Woodlands is comprised of 21 separate lots which were combined in the early 1970's into 1 single parcel. The land rises from a small beach in the south-western corner to an altitude of 190 feet above sea level. There are beautiful views across the Caribbean Sea to the small uninhabited island of Redonda and neighbouring St Kitts & Nevis in the distance. The parcel is bounded on the north by Cassava Ghaut, on the east by a paved public road, on the south by Lawyers River and on the west by the Caribbean Sea. The main access road and services stop just inside the north-eastern boundary. These could be brought into the property depending on the nature of development. There is also a rough road which winds through the property down to the small beach. Located in the prestigious residential area of Woodlands renowned for its seafront vacation homes and the

nearby Woodlands Beach (a quiet, black sand beach and turtle nesting site), this private estate is ideally suited to luxury residential or commercial development. The Caribbean island of Montserrat is an investorfriendly British Overseas Territory which benefits from the political and financial support of the UK and the EU. For decades, the island has been beloved by some of the world's wealthiest families, many of whom return year in year out to enjoy the island's crowd-free tranquillity, warmth and dramatic natural beauty. For details on this land for sale, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Gateway to the Sun — Puerto Rico: 205 Acre Beachfront Resort Development Site for Sale 7th Heaven Properties presents the opportunity to acquire a 205 acre resort development site located between the cities of Aguada and Aguadilla on the western coast of Puerto Rico. This is a unique opportunity to acquire a prime parcel of beachfront land which has completed all the stages of the local permitting process for the approval of a hotel, casino, spa, marina, beach club and residences. The parcel is located in the Porta del Sol (“Gateway to the Sun”) region of western Puerto Rico, which is renowned for laid back, low key tourism. The site is conveniently situated within easy reach of the Punta Borinquen golf course, Rafael Hernández Airport (Aeropuerto Rafael Hernández) and the beaches of Aguada and Aguadilla, which are considered some of the best in Puerto Rico and popular with surfers. The local permitting process for a 160 room hotel with beach club, casino, spa and meeting room, plus 170 additional units for a condo hotel, shared ownership or residence hotel has been completed. There is also permission for 737 residential condominium / apartment units, including 52 waterfront homes, as well as a full service marina with 500 wet slips, 500 dry stack slips,

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beach Club and ample retail spaces. Puerto Rico is one of the Caribbean’s most popular tourism destinations, attracting in excess of 1.5 million stop-over visitors per year, plus well over 1 million cruise ship arrivals. The tourism sector has grown over the last couple of years and several ultra-luxury international hotel brands have established a presence on the island, cementing Puerto Rico’s reputation as a Caribbean tourism powerhouse. Key tourism metrics, including tourism spend, average daily room rates and revenue per available room, have all increased and a number of high profile investors have recently invested hundreds of millions of Dollars in tourism projects on the island, taking advantage of tax incentives introduced in 2012 to lure high net worth investors. Offered at: US $9,950,000 For details on this land for sale, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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PRIME PROPERTY COMMERCIAL

The Most Beautiful Bay in the Caribbean — St Lucia: 30 Acres of Pristine Land for Development Located on the northern side of inner Marigot Bay with significant waterfront, this parcel of land on the spectacular western coast of St Lucia represents a rare opportunity for high end resort or residential development in one of the island’s most coveted locations. The site overlooks the five star Capella hotel and marina and Marigot Bay itself, which is one of the safest and most beautiful harbours in the Caribbean. The offering encompasses 30 acres of gently sloping land covered in lush greenery which descends to the bay, including the crown jewel of the entire Marigot Bay: freehold title to approximately 4 acres of land with hundreds of feet of leased waterfront. In addition, it includes the license for docks on the world-famous La Bas Peninsula, renowned for its beach studded with towering coconut trees. Located on St Lucia’s western coast less than 25 minutes’ drive south-west of the capital Castries and Vigie Airport, Marigot Bay is a popular luxury tourism and elite yachting destination. Described by novelist James A. Michener as “the most beautiful bay in the Caribbean,” Marigot Bay is surrounded by lush, green forested hills on three sides. Its popularity owes as

much to its stunning beauty as it does to its status as a natural shelter for yachts. Marigot Bay's appeal has been enhanced further by the opening of the new Capella hotel and marina, the most recent addition to the uber luxury hotel group. St Lucia has a flourishing tourism industry with stayover tourist arrivals during the first 7 months of 2014 increasing approximately 7% compared to the same period in 2013. St Lucia's real estate sector has also been showing positive signs of growth. The island is also more accessible than ever, with direct flights to St Lucia from the USA, Canada and Europe, including a daily JetBlue flight from New York and regular BA and Virgin Atlantic flights from London Gatwick. Offered at: Price on Application For details on this investment opportunity, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Private Escape — St Vincent & the Grenadines: Private Island Resort for Sale Perfectly positioned 200 yards off the coast of St Vincent at the top of the idyllic Grenadines island chain - a world class sailing and diving destination - this is a rare opportunity to acquire one of the world’s longest established luxury private island resorts. Lying just off the coast of St Vincent, the island encompasses over 12 acres of lush, tropical hills, fringed by a powder soft white sand beach and the turquoise Caribbean Sea. The resort includes a spa, tennis court, pool, restaurant, bar and 29 guest cottages which overlook the sparkling sea. Over the 48 years since it was first established, this private island resort has played host to countless weddings, honeymoons and family vacations. The resort is renowned for offering privacy and seclusion, as well as convenience: it is located just 3-4 minutes by boat from St Vincent and 15 minutes to the international airport. With yachties’ favourite Bequia, celebrity hideaway Mustique and the private island resorts of Palm Island and Petit St Vincent all within easy reach, this enchanting getaway represents a unique opportunity to acquire a private island resort with a long track record, well deserved reputation and huge potential for future growth.

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The resort also includes a large waterfront area on St Vincent with private dockage, parking for 25 vehicles, storage area, staff quarters and water sports base. Existing structures cover just 2.5 acres of the island, so there is significant land available for expansion. With water and power supply and a loyal, expert staff of 65 in place, the hotel is fully operational. Owned by the Government of St Vincent and the Grenadines, the property is offered on a leasehold basis with 51 years remaining on the original lease and an option to renew for an additional 40 years. There is a modest annual lease payment. Offered at: US $10,000,000 For details on this private island resort for sale, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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PRIME PROPERTY COMMERCIAL

41 Acres of Heaven on Earth — Turks & Caicos: Exclusive Beachfront Development Opportunity 7th Heaven Properties exclusively offers the opportunity to invest in Aniyana, a proposed boutique beachfront resort in the Turks & Caicos Islands (TCI), one of the most desirable destinations in the Caribbean. Situated along a pristine stretch of almost pink, powder-soft sand, this proposed 31 acre eco-sensitive, boutique resort and low density residential development is the first phase of a mixed use exceptionally master planned development set to include exclusive high end residences, shops and restaurants, a marina with Port of Entry designation and an upgraded airport. The project is located on Grand Caicos, the largest yet least populated island in the TCI. Grand Caicos (also known as “Middle Caicos”) is home to just 250 people. Its' beaches are recognized as some of the best in the Caribbean. A limited number of exclusive beach and lagoon-front residences as well as professionally managed 1 and 2 bedroom boutique hotel suites will be offered for sale, each nestled in private, lush gardens. For the privileged few, Aniyana will offer pampered privacy in nature like nowhere else and spectacular views over the beach and turquoise sea. Mindful of its unspoiled natural environment, the resort is to incorporate a stunning nature reserve. The island already includes the largest nature preserve in

the Caribbean. Development is restricted, so residents and guests of Aniyana will be among the fortunate few to live surrounded by protected natural beauty. With exceptional beaches, first rate infrastructure, state of the art medical facilities and no personal or corporate taxes, the TCI has established itself as one of the Caribbean’s leading tourism destinations and a hotspot for property investment. No wonder it was recently voted 4th best place to live in the world. As one of the only developments of its kind with the ability to convey properties as “Fee Simple Freehold Title' rather than “Leased”, Aniyana offers a security and longevity that others could only wish for. As a focus for future development due to its pivotal geographic position, Grand Caicos is recognized as key to the TCI’s future growth. Aniyana is expected to be at the heart of this – a game-changing project for the TCI and one of the most sought-after investment opportunities in the Caribbean. For details on this investment opportunity, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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When all you want is everything. The new 86 Yacht. www.sunseeker.com