The Caribbean Property Investor Issue 4 by 7th Heaven Properties

Money Citizenship & Wealth Management

Life & Style New Hotels, Art Fashion & Interior Design

Prime Property Luxury Homes & Commercial Investments

The Caribbean THE DEFINITIVE GUIDE TO PRIME PROPERTY & LUXURY LIFESTYLE

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

RADO HYPERCHROME AUTOMATIC CHRONOGRAPH MONOBLOC CASE ENGINEERED IN HIGH-TECH CERAMIC

Aruba: Kay’s Fine Jewelry - Time Square| - Little Switzerland Barbados: The Royal Shop - Little Switzerland Curacao: Freeport Jewelers Grand The Caribbean Property Investor, Issue 4 7thHeavenProperties.com Cayman: Kirk Freeport Jamaica: Casa de Oro - Chulani Nassau: John Bull - Little Switzerland St. Barts: Goldfinger St. Lucia: Harry Edwards St. Maarten: Joe’s Jewelry - Little Switzerland - Goldfinger St. Thomas: Little Switzerland - Jewels - Royal Caribbean - Kay’s Fine Jewelry Turks and Caicos: Goldsmith

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The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

C ON T E N T S

IN BRIEF

MONEY

LIFE & STYLE

15 NOW Caribbean property market news and trends

33 Special Feature: Passports to Paradise An in-depth look at three citizenshipby-investment programmes

47 Fresh & Wild Our pick of the Caribbean’s newest hotels

26 High-Tech Home The ultimate gadgets for your luxury getaway

35 Natural Next Step Dominica by Prime Minister Hon. Roosevelt Skerrit

22 Why I Love the Caribbean An interview with fashion designer Donna Karan

33 New Citizenship Programme Sets Sail Antigua & Barbuda by Prime Minister Dr. Hon. Baldwin Spencer

38 Investor-friendly Islands St Kitts & Nevis by H.E. Ambassador Rosalyn Hazelle

44 The Art of Wealth Management The advantages of wealth management in the Caribbean

55 All that Glitters Fashion for her: Shimmer by the beach in metallics

57 Blue, Blue and More Blue Fashion for him: The colour of the moment 58 The Art of Reconstruction An interview with leading contemporary artist Philippe Dodard

62 World of Inspiration Five professionals on how to bring a fresh vision of luxury to your home 74 Tradition of Craftsmanship Flor de Caña, an award-winning rum from Nicaragua

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

Bailey S. Barnard, Leo Bear, Jennifer Bradford Davis, Naomi Cleaver, Zoe Dare Hall, Victoria Gaiger, Keith Hobbs, Paul Jenkins, Lynne Pemberton, Paul Thomas, Mike Ward, Twila Wilson Copyright © 2013 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 4 | 7thHeavenProperties.com

TIME DESIGNED

The C lassiC

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 43 A Sustainable St Kitts An interview with Val Kempadoo, founder of Kittitian Hill

40 Caribbean Design Excellence OBMI, a design firm with local presence and global expertise 82 A Life of Glamour Luxury ownership in the Bahamas at Baha Mar

98 Sea Front Living A 3 bedroom villa for sale on Montserrat

106 A Perfect Getaway Sea For Miles, the ultimate luxury home on St Kitts 112 Wild Serenity A rustic oceanfront property for sale on St Lucia

116

130

RESIDENTIAL

COMMERCIAL

79 80 81 84 86 87 89 90 91 92 93 94 95 96 97 101 102 103 104 105 110 111 114 115 116 117

119 Funding Osvaldo Rosales on Indian investment in the Caribbean

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

120 Road to Recovery Daniela Blancas on the economic outlook for the Caribbean region 124 British Virgin Islands A 258 acre private island ideal for development

125 Dominica An award-winning boutique hotel for sale 126 Montserrat Rare opportunity to acquire 13 acres of seafront land in Woodlands

127 Turks & Caicos Opportunity to invest in a boutique villa resort and waterfront restaurant

128 Room for Growth Analysis of the Caribbean hotel pipeline 130 Quality not Quantity Insight into the evolving marina market

The Caribbean Property Investor Magazine is published by 7th Heaven Properties Ltd, the Caribbean property specialist: www.7thHeavenProperties.com. We list US $8 billion worth of property and land for sale from across the Caribbean islands and Central America. With an exclusive focus on the Caribbean region, our listings include luxury residential and premium commercial property. We are experts in the Caribbean real estate market, ready to introduce you to the region’s most exceptional investment opportunities through our unrivalled network of select, 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

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Cover: Sea For Miles, St Kitts & Nevis (page 106)

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

W E L C OM E & G U E ST C ON T R I BU TOR S GUEST CONTRIBUTORS Prime Minister Dr. Hon. Winston Baldwin Spencer Dr. Hon. Winston Baldwin Spencer is Prime Minister of Antigua and Barbuda. Having formerly served in the highest positions in the trade union movement, he was sworn into office in 2004 and has also served in various positions including Chairman of the Caribbean Community (CARICOM), Chairman of the Organisation of Eastern Caribbean States (OECS) and chair of the Group of 77 and China at the United Nations.

Welcome Welcome to the fourth issue of The Caribbean Property Investor magazine, the annual guide to prime property and luxury lifestyle in the Caribbean from 7th Heaven Properties. After years of sluggish growth during which the economic debate has focussed on the merits of austerity, stimulus and bailouts, the green shoots of recovery are finally starting to emerge in the USA and Europe. The ripple effects are starting to be felt in the Caribbean too, with the real estate sector set to benefit. While investors remain rather cautious about green field developments and projects remain on hold, there is a growing pipeline of developments in locations such as the Bahamas, the Dominican Republic and Puerto Rico. St Kitts & Nevis has seen strong growth driven by a Citizenship by Investment Program, which is expected to provide a similar boost in neighbouring Antigua too. In general, growth has been stronger at the top end of the market with a host of world class luxury brands lending their names to tourism and residential projects. In many cases this growth has been supported by investment in infrastructure, including airports and marinas and, in Panama, the expansion of the canal, which has stimulated the commercial real estate sector. Where growth has been slower to rebound, there are opportunities for the savvy investor to take advantage of a decline in prices. The outlook for the medium and long term is therefore largely positive with exciting investment opportunities across the region. To discuss opportunities aligned to your particular investment objectives and for details on any of the 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. We look forward to hearing from you. Walter Zephirin Founder 7th Heaven Properties

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

As part of our special feature on Citizenship-by-Investment, the Prime Minister introduces Antigua and Barbuda’s new programme (page 33). Prime Minister Hon. Roosevelt Skerrit Hon. Roosevelt Skerrit is Prime Minister and Minister for Finance of the Commonwealth of Dominica. Born in 1972, he obtained degrees in English and psychology from the University of Mississippi and New Mexico State University, and went on to become an educator. He was elected to Dominica’s Parliament in 2000 and became Minister for Education, Youth Affairs and Sports. On 8 January 2004, Prime Minister Skerrit was sworn into office at the age of 32 and remains the world’s youngest Prime Minister. Also part of our special feature on Citizenship-by-Investment, the Prime Minister discusses proposed changes to Dominica’s programme (page 35). H.E. Ambassador Rosalyn E. Hazelle Ambassador Rosalyn E. Hazelle is the Chief Executive Officer of the St Kitts Investment Promotion Agency (SKIPA), a post she assumed in 2011. A Social Scientist by training and profession, she has more than 25 years’ experience in public sector management. In 2005 she was appointed as the first female Ambassador for the Federation of St Kitts and Nevis as Ambassador Extraordinaire Plenipotentiary. Wrapping up our Special Feature, Ambassador Hazelle provides an overview of the St Kitts & Nevis Citizenship by Investment Program (page 38).

cartier.com CARIBBEAN CARTIER BOUTIQUES: ARUBA • BAHAMAS: NASSAU & PARADISE ISLAND • BARBADOS • CANCUN • COZUMEL • DOMINICAN REPUBLIC • GRAND CAYMAN • PUERTO RICO • ST. BARTHELEMY ST. MAARTEN • ST. MARTIN • ST. THOMAS

CARIBBEAN AUTHORIZED WATCH DEALERS: ANTIGUA: Diamonds International • ARUBA: Gandelman The BARBADOS: Diamonds International • BELIZE: Diamonds International • BERMUDA: Astwood Dickinson CANCUN: Ultrajewels • COZUMEL: Almacenes Pama • CURAÇAO: Little Switzerland • DOMINICAN REPUBLIC: Bentrani, Casa Virginia • GRAND CAYMAN: Kirk Freeport • GRAND TURK: Diamonds International • HAITI: Villa Russo 1898 • JAMAICA: Casa De Oro • PUERTO RICO: Bared & Sons • ROATAN: Diamonds International • ST. LUCIA: Harry Edwards • ST. MAARTEN: Goldfinger • ST. MARTIN: Goldfinger ST. THOMAS: Royal Caribbean • TORTOLA: Little Switzerland • TURKS & CAICOS: Jai’s

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New Collection TANK MC 1904 MC Manufacture Movement

F ROM T H E E DI TOR & G U E ST C ON T R I BU TOR S Osvaldo Rosales Born in Chile, Osvaldo Rosales is Director of the International Trade and Integration Division of the United Nations’ Economic Commission for Latin America and the Caribbean (ECLAC). He was Vice-Minister of Trade in Chile during President Lagos’s administration. An economist by profession, Osvaldo Rosales specialises in international economics. He has lectured worldwide and published articles on Chinese and Indian relations with Latin America and the Caribbean. Utilizing his expertise, he reports on Indian investment in the Caribbean (page 119).

From the Editor As the old saying goes, home is where the heart is, and our heart is certainly in the Caribbean. If you feel the same way, you’ve picked up the right magazine. In this issue we begin with a roundup of what’s new in the Caribbean property world (page 15) and an interview with world famous fashion designer Donna Karan on the inspiration she finds in her Caribbean home (page 22). Our Money section includes a special feature on the benefits of three Citizenship-by-Investment programmes, with contributions from the Prime Ministers of Antigua & Barbuda and Dominica and the CEO of the St Kitts Investment Promotion Agency (page 33). In Life & Style, discover the hottest new hotels opening in the Caribbean (page 47) and what to wear while you’re there (page 55). We also talk to leading contemporary artist Philippe Dodard (page 58) and to some of the region’s top interior designers about transforming your home (page 62). Finally, in our Commercial section, we take a look at a selection of investment opportunities (page 124) and expert views on the outlook for the Caribbean economy (page 120), hotel pipeline (page 128) and marina trends (page 130). Robert Cooper Editor-in-Chief

Daniela Blancas Having worked for Thomson Reuters and Grupo Financiero Scotiabank Inverlat in Mexico City, Daniela Blancas is an Economist at Scotia Economics International Research Group in Toronto, where she provides financial market intelligence, economic research and forecasts with a focus on Latin America and the Caribbean. She is a contributor to publications, including Foreign Exchange Outlook, Latin American Regional, Global Forecast Update and Global Views. For this issue, Daniela provides a snapshot of the Caribbean economy (page 120). Dan Forer Based in Miami, Dan Forer specialises in architecture and interior design photography. Having begun his career as a theatre lighting designer, Dan’s images are renowned for dramatic composition and expressive use of light and shadow. For over 30 years his photographs have filled the pages and covers of publications including Interior Design Magazine, Architectural Record and Architectural Digest Magazine. Having lectured on photography, Dan also works as a freelance photographer for architects and interior designers in the USA and Caribbean and has released coffee table book, “Bok Tower Gardens, America’s Taj Mahal” (published by Rizzolli). As part of our interior design feature, Dan presents his take on the work of Twila Wilson (page 64).

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250 ans d’histoire & de passion pour créer une œuvre d’exception !

CHÂTEAU CHÂTEAU LAFITE ROTHSCHILD MOUTON ROTHSCHILD The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

champagne-bdr.com

CHÂTEAU CLARKE EDMOND DE ROTHSCHILD

L’ A B U S D ’ A L C O O L E S T D A N G E R E U X P O U R L A S A N T É , À C O N S O M M E R A V E C M O D É R A T I O N

IN BRIEF

NOW LUXURY GADGETS DONNA KARAN

NOW ◊

◊

Fendi Casa suite at Oil Nut Bay, courtesy of Christian Horan Photography

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

Boutique Chic Fashion designers find inspiration in the Caribbean Whether it’s the phenomenal light and vibrant colours, the unbeatable beauty of the coastline or its reputation as the ultimate luxury retreat, famous fashion designers have long headed to the Caribbean to escape the intensity of the catwalk. Giorgio Armani owns a cliffside retreat in Antigua and Oscar de la Renta hides away in an oceanfront paradise in the Dominican Republic. Donna Karan kicks back at her beach house in the Turks & Caicos, while Ralph Lauren spends his leisure time at his villa in Jamaica’s Round Hill, where he has also designed the hotel’s 36 rooms, all of which are decked out in the Ralph Lauren Home collection.

Big fashion brands have been keen to lend their names to chic resorts. Barbuda’s K Club, for example, was originally conceived by Italian designer Krizia Mariuccia Mandelli. The Caribbean is once again becoming synonymous with world class designer brands, with the luxury Oil Nut Bay resort in the BVIs now home to suites designed by Fendi Casa, complete with the giveaway F embossed on the carpets. And on St Barth, an island that is no stranger to designer opulence, LVMH (the world’s largest luxury group) has bought the Hotel Saint-Barth Isle de France, offering its wines, spirits and cosmetics to guests in the luxury suites and spa. The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

IN BRIEF NOW

Join the Club More islands offer the benefits of citizenship in exchange for investment Antigua & Barbuda is the latest Caribbean country to launch a Citizenship by Investment programme, offering full citizenship to those who invest at least $400,000 in an approved real estate project, $250,000 in the National Development Fund or $1,500,000 in an eligible business. The scheme, designed to propel economic activity in Antigua, offers investors the travel benefits of an Antiguan passport, freedom from capital gains and inheritance taxes, and the right, as Commonwealth citizens, for their children to study in the UK without a visa. Antigua’s programme is based on a similar scheme operated by St Kitts & Nevis, which launched in 1994 and has seen an increase in applicants since the 2009 financial downturn. St Kitts also sets the minimum in-

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

vestment bar at $400,000 in a designated real estate development or $250,000 contribution to the Sugar Industry Diversification Fund. Nearby, Dominica’s programme has a minimum investment level of just $100,000 to get a Dominican passport. After some initial hurdles, Grenada passed a similar act in August 2013 with the aim of bringing in millions of dollars in revenue to the country. 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 The Caribbean Caribbean Property Property Investor, Investor Issue 20114 | 7thHeavenProperties.com

IN BRIEF NOW

Full Steam Ahead Panama boosts real estate sector with canal expansion and Nicaragua wants to follow suit The expansion of the Panama Canal – a $5.25 billion project due for completion in 2014, exactly 100 years after this short-cut between the Atlantic and Pacific first opened, is driving a boom in residential and commercial real estate in the Central American country. Panama’s economy – which has seen the fastest growth in Latin America in the past two years – grew by 7% in the first three months of 2013, driven by construction projects and the widening of the canal. “The expansion has already fuelled office and luxury housing development as Panama tries to promote itself as a logistics hub. The expanded canal is seen as Panama's big moment,” says Eric Sabo, a Bloomberg reporter based in Panama City. “It's the not the only reason for the real estate boom, but the government never tires of calling Panama a new Singapore.” A proposed Nicaragua canal project is expected The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

to drive growth too, if plans move forward to develop a $40 billion Chinese-built and run waterway that would dwarf the Panama Canal. The 286 km (178 mile) Great Interoceanic canal would be the largest infrastructure project in Latin America in a century and could transform Nicaragua, doubling its GDP and tripling its employment by 2018, according to Paul Oquist, the country’s Secretary of Public Policies. For details on residential and commercial investment opportunities in Panama and Nicaragua, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

Down Mexico Way A revolutionary change to the constitution could open up Mexico’s coastline Since it was announced that a 100-year restriction on direct foreign ownership of seafront land could be revised, demand for luxury coastal property in Mexico has gone through the roof. Currently, foreign buyers cannot own land within 31 miles (50 km) of the coast or 62 miles (100 km) of Mexico’s international borders, as decreed by the postRevolution constitution introduced in 1919. Foreign buyers have, however, found a way to bypass the law by buying property through a 50-year renewable bankheld trust, known as a “fideicomiso”, which names the foreign investor as beneficiary. 49,000 foreign nationals – mainly Americans and Canadians – are estimated to own beachfront Mexican property this way. George Clooney is among the most recent investors in a luxury property on the Mexican seafront, having built a villa next door to his friend, Cindy Crawford, overlooking

the Sea of Cortez in Los Cabos. Mexico’s 1919 laws are now considered outdated and the country wants to encourage foreign investment in tourism, so the constitutional amendment to allow coastal investment by foreigners is awaiting approval by the Mexican Senate. In anticipation of a law change, mainly British and American buyers are fuelling a rise in interest for Mexican beachfront homes, with the coastal resorts of Cancun and Playa del Carmen set to benefit most. For details on Mexican beachfront homes for sale, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

Elegance is an attitude Simon Baker

Antigua: Abbott’s Jewellery, Diamonds International Aruba: Diamonds International, D’Orlahn, Little Switzerland, Shivas Barbados: Diamonds International, The Royal Shop Curacao: Freeport Jewelers Grand Cayman: Kirk Freeport Jamaica: Diamonds International, Jewels in Paradise Nassau: Diamonds International, Little Switzerland St. Barthelemy: Goldﬁnger Jewelry St. Kitts: Diamonds International St. Lucia: Diamonds International St. Maarten: Art of Time, Diamonds International, Goldﬁnger Jewelry The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com St. Thomas: Diamonds International, Jewels Tortola: Little Switzerland

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com Conquest Classic

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IN BRIEF DONNA KARAN

Why I Love the Caribbean An interview with Donna Karan

RO B ERT CO O P ER

Above: Donna Karan, courtesy of Donna Karan International Left: Donna Karan’s Sanctuary at Parrot Cay by COMO

Throughout the years the Caribbean has been fashion designer Donna Karan’s sanctuary and a source of inspiration. Here she tells The Caribbean Property Investor what draws her to the islands. You have a home in the Turks & Caicos Islands – Why did you choose the TCI? My good friend Christina Ong owns Como Shambhala on Parrot Cay, where Stephan and I would go and get away from it all. Christina also owns my favorite resort in the world – Como Shambhala in Ubud, Bali, but it’s halfway around the world. Stephan and I fell in love with Parrot Cay – what I still call my 3-hour Bali, since that’s all it takes to get there. Stephan gave me a gift of property on Parrot Cay, when we renewed our wedding vows there, during what was to be his last Christmas visit. He urged me to build a family home, which is exactly what I did. How do you like to spend your time in the TCI? For me, Parrot Cay is heaven. It’s family time, retreat and yoga time, beach time, all the things I love doing most when I have the time. We often spend our holidays on Parrot Cay.

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IN BRIEF DONNA KARAN You have also spent a lot of time in Haiti with your foundation Urban Zen working with Haitian artisans – What is so special about Haitian art and crafts? I went down to Haiti right after the earthquake with the intention of doing all I could to help them rebuild. But then I fell in love with the people and the island itself, and Haiti became an all-consuming passion, a place where I felt I could make a difference. I realized that Haiti has the potential to be like Bali – a sustainable artisan community that used its natural resources and talents to 1) preserve its culture and 2) create viable businesses. The artisan communities just need guidance and support to make it happen. I joined forces with the Clinton Global Initiative and go to Haiti to work with the artisans every chance I get. I’m lucky, because Parrot Cay is just an hour away from Haiti, so I can stop there before or after a visit. How can people support your work in Haiti? Just go onto my website urbanzen.org and see the many ways. You can also support Haitian artisans by buying their products at Urban Zen stores. For many people Haiti conjures up images of an earthquake-ravaged country - What are Haiti’s hidden gems? Haiti is one of the most beautiful islands in the world, yet no one knows it! The nature and topography is second to none. Many realtors and resort developers are looking to invest in Haiti, so hopefully the negative perception will fade. There are so many hidden gems I don’t know where to begin. Jacmel is one of the most charming towns you’ll ever visit. That would be first on my must-see lists. Where else in the Caribbean have you enjoyed spending time? It’s all beautiful. Yet to be honest, it’s been so long since I’ve gone to anywhere other than Parrot Cay.... How has the Caribbean influenced your work? I’m so inspired by the beach – the melding colors, the white clouds, endless skies, aqua waters and of course the sands. This is the palette and textures I return to for my Spring and Summer collections, year after year, in one form or another.

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

Left: Donna Karanâ&#x20AC;&#x2122;s Sanctuary at Parrot Cay by COMO Right: Donna Karan on the Beach at Parrot Cay, courtesy of Donna Karan International

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IN BRIEF 7 LUX URY GADGETS

High-Tech Home Our pick of the ultimate gadgets for your luxury Caribbean getaway BAILEY S. BARNARD

Sound Goods No home-entertainment system is complete without incredible audio. Steinway Lyngdorf – the Danish company formed as a partnership between hi-fi audio component wizard Peter Lyngdorf and piano maker Steinway & Sons – offers audio systems ranging from enormous home-theatre packages and floor-standing solutions to discreet in-wall speaker models. The Steinway Lyngdorf S-Series is ideal for rooms where space may be limited but where big-sounding, high-quality audio is desired. A basic two-channel S-Series system, which starts at $22,000, comprises dual bookshelf speakers, subwoofers, digital amplifiers, and a stereo processor, though more speakers and components can be added to create a larger, multi-channel audio system. www.steinwaylyngdorf.com Getting the Picture IMAX® commercial theatres are known the world over for providing an unrivalled cinematic experience. Through the IMAX Private Theatre®, that experience is now available in the home. Of course, installing a massive wall-to-wall, floor-to-ceiling screen, 7.1 channels of laser-aligned surround-sound audio, and several rows of stadium-style seating requires considerable space. The Ontario–based company will work with Caribbean property owners’ architects and designers to design a custom and dedicated IMAX theatre – complete with a 4K dual-projector 3D video system, full surround audio and wireless touchscreen controls — that delivers the world’s finest cinematic experience, all in the luxury of the home. www.imaxprivatetheatre.com The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

IN BRIEF 7 LUXURY GADGETS

The Big Screen Of course, for the majority of homeowners in the Caribbean, a massive commercial-grade home cinema is a bit impractical, but that does not mean that the experience of watching TV and movies at home has to be anything short of spectacular. The Samsung 85inch Class UHD S9 Series Smart TV represents the absolute pinnacle of television technology. The set features a more than 6.5-foot wide LCD screen back lit by an array of LEDs that delivers a stunning picture and a 4K resolution, with twice as many pixels as TVs with 1080p screens, the former resolution threshold. Samsung offers white-glove delivery for the roughly 150-pound S9 TV, which is priced at $40,000. www.samsung.com

Just Doo It There is no better way to enjoy the Caribbeanâ&#x20AC;&#x2122;s crystal blue waters than with a personal watercraft. The SeaDoo GTX Limited iS 260 is the latest and greatest toy from the brand synonymous with water-bound speed and fun. The three-person GTX Limited iS 260 features Sea-Dooâ&#x20AC;&#x2122;s most powerful engine ever. The nearly 1,500 cc displacement, supercharged motor enables the watercraft to reach 60 mph in about 4 seconds, which is faster than most supercars. The iS 260 also offers reverse propulsion that allows the watercraft to break, and an upper structure than moves independently of the hull to enable greater rider stability and control. The GTX Limited iS 260 is priced at $17,000. www.sea-doo.com Smart Home To help control and monitor home-entertainment systems and functions such as temperature and lighting, electronic blinds, and security cameras, a home automation solution from Crestron is a must. The longtime leader in smart-home technology, Crestron offers products that range from systems for lighting, shading, and security, to network hubs and internal wiring, to freestanding and in-wall touchscreen controllers, as well as mobile apps that allow homeowners to control and monitor their home from a smartphone or tablet. Rather than purchasing products from Crestron directly, homeowners work with a local integrator to equip their residence with the smart-home system that best suits their needs. www.crestron.com The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

IN BRIEF 7 LUXURY GADGETS

Chef â&#x20AC;&#x2122;s Delight With the Electrolux Grand Cuisine Cooking System, the kitchen will be perhaps the highest-tech room in the house. The Grand Cuisine collection includes eight sleek and stylish components, which provide the home chef with every cutting-edge tool necessary to prepare virtually any culinary masterpiece. The line includes a customizable range, an oven that can use both convection and steam heat, a fast-chilling freezer, small and large induction-heat cooktops, a powerful gas cooktop, a chrome-plated surface for searing, a vacuum sealer for food-storage, and a professional grade mixer. The diversity of the collection gives homeowners the ability to pick and choose the components that best satisfy their kitchen requirements. Prices for having all eight Grand Cuisine components installed starts at about $100,000, not including ventilation. www.grandcuisine.com

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

Heating Up During beautiful Caribbean days and evenings, cooking outdoors can be a true pleasure, especially with the Kalamazoo K1000HS Hybrid Fire Grill, which offers more than 1,000 square inches of grilling surface and the ability to use any combination of natural gas or propane, wood, and charcoal. The 4.5-foot-tall, nearly 8-foot wide chromed stainless steel K1000HS features six burners that deliver as many as 150,000 thermal units of heat, custom laser-cut heatretaining cooking surfaces, and a motorized rotisserie with dual infrared burners. The KH1000HS, priced at $20,695, will make any backyard cook a true grill master. www.kalamazoogourmet.com

As a staff editor at both Robb Report and TONEAudio magazines, 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.

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Find out how partnering with Canada's most international bank can help your ﬁnancial success grow. Visit www.scotiaprivateclientgroup.com/international today. ▪ The Bahamas ▪ Barbados ▪ Canada ▪ Cayman Islands ▪ Costa Rica ▪ Dominican Republic ▪ El Salvador ▪ Hong Kong ▪ Jamaica ▪ Panama ▪ Peru ▪ Puerto Rico ▪ Trinidad and Tobago ▪ Turks and Caicos ▪ USA (Miami)

* Trademark of The Bank of Nova Scotia, used under license (where applicable). Scotia Private Client Group is composed of the Scotiabank group of companies that provide private client services, including Scotia Capital Inc., a Member-Canadian Investment Protection Fund and a member of the Investment Industry Regulatory Organization of Canada. International wealth structuring services are provided by Scotiatrust, representing; The Bank of Nova Scotia Trust Company (Bahamas) Limited, Scotiabank & Trust (Cayman) Ltd. and Scotiatrust (Asia) Ltd., all wholly-owned subsidiaries of The Bank of Nova Scotia. Always consult your professional tax and legal advisors with respect to your particular circumstances. Nothing herein is intended to constitute an offer or solicitation to transact business for either products or services in any jurisdiction where such an offer or solicitation would be unlawful.

MONE Y

SPECIAL FEATURE:

Passports to Paradise Offering full citizenship by investment, three Caribbean nations have established programmes to welcome investors to their palm-fringed shores as new citizens. Here, expert guest contributors from St Kitts & Nevis, Antigua & Barbuda and Dominica clarify the enhanced travel and tax advantages of each programme

PASSPORTS TO PARADISE: ANTIGUA & BARBUDA DOMINICA ST KITTS & NEVIS Wealth management

1 New Citizenship Programme Sets Sail

Antigua & Barbuda by Prime Minister Dr. Hon. Baldwin Spencer After years of planning, the â&#x20AC;&#x153;Land of 365 Beachesâ&#x20AC;? and home of the world-famous Antigua Sailing Week has launched a carefully considered Citizenship by Investment Program to generate investment for the twin island nation. Here, the Prime Minister of Antigua & Barbuda explains the details and benefits to investors The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

ANTIGUA & BARBUDA

CITIZENSHIP-BY-INVESTMENT e Limited PROGRAM tigua

Orange Limited a n t ig ua

Marina residences, Jolly Harbour luxurious waterfront apartMents Marina Residences is a Citizenship-ByInvestment approved project consisting of 32 one and two bedroom apartments that are tastefully designed in natural stone and wood. The units are spacious, with a modern Caribbean feel that redefines contemporary luxury living. The Marina development offers beautiful views of the Jolly Harbour Marina, landscaped gardens and swimming pool, and provides easy access to your yacht. Pearns Point

Marina Residences

www.a n t ig u a cit iz en sh ipin ves t.c om Marina residences by orange limited

T: (268) 562 2625 â&#x20AC;˘ E: info@islandliving antigua.com P.O. Box 262, Jolly Harbour, Antigua W.I.

MONEY Passports to Paradise Following an in depth public consultation process, the Parliament of Antigua & Barbuda passed legislation in the first quarter 2013 which established a Citizenship by Investment Program. The program was officially launched several months later. The launch establishes Antigua & Barbuda as one of a small group of North American and European nations which offers qualifying investors the opportunity to apply for permanent citizenship. So, what are the advantages of Antiguan citizenship? First and foremost, the right to call our beautiful twin island nation home. Where else offers a different beach for every day of the year? No wonder Antigua & Barbuda has a long history of attracting some of the world’s most celebrated stars of the music and fashion worlds who have purchased homes here. However, as the tourism slogan goes, the beach is just the beginning… Antigua & Barbuda has one of the Caribbean’s most well established tourism industries, which has emerged as the backbone of the economy. The strength of the sector is a result of natural beauty combined with a location at the heart of the Caribbean and popular annual events such as Antigua Sailing Week, the longest running sailing regatta in the Caribbean and one of the world’s premier sailing events. As one of the Caribbean’s regional transport hubs, direct flights from Europe, the USA, Canada and the Caribbean transport visitors directly to these palm-fringed shores from cities around the world. Besides a tourism sector built around being a sailing and beach lovers’ paradise, Antigua & Barbuda has a well-established international financial services sector and is home to international private banking specialists. The country is a politically stable member state of the Commonwealth with the Governor General representing the Queen as Head of State. Antigua & Barbuda is also a member of the Caribbean Community, the Organization of Eastern Caribbean States and the Organization of American States. As such, citizens enjoy the benefits and privileges of all these organizations. With strong international links, holders of an Antigua & Barbuda passport enjoy visa free travel to over 130 countries, including the UK, Canada, the Schengen area countries of the EU, Hong Kong and Singapore, offering many applicants significantly enhanced global mobility. Citizens also enjoy freedom from capital gains and inheritance taxes. To qualify for citizenship, carefully vetted applicants must be over 18 years of age and make a significant investment in to the economy of Antigua & Barbuda through one of three options. The first investment option involves a one-time nonrefundable minimum contribution of $250,000 USD to the National Development Fund (NDF), a non-profit fund established to finance government sponsored proj-

ects such as public-private partnerships and audited by an internationally recognised accounting firm. To qualify for citizenship under the second option, applicants are required to make a minimum investment of $400,000 USD in an approved real estate project. Real estate projects across Antigua & Barbuda have been designated as eligible for investment by program applicants. The third and final option involves a minimum investment of $1,500,000 USD in to an eligible business, either as sole investor or joint investor. Existing or proposed businesses require approval from the Antigua & Barbuda Investment Authority (ABIA). A process has also been established for family applications to enable the spouse, dependent children, parents or grandparents of the main applicant to apply jointly for citizenship. From a home in one of the world’s most beautiful and politically stable locations to enhanced global mobility, the Antigua & Barbuda Citizenship by Investment Program therefore offers successful applicants a range of potential advantages whilst helping to bolster the economy of the nation – a win win situation. Time to set sail for Antigua & Barbuda.

11 Natural Next Step

Dominica by Prime Minister Hon. Roosevelt Skerrit Having operated an Economic Citizenship Programme for many years, the Commonwealth of Dominica has announced plans to introduce a new path to citizenship for investors. The Nature Island’s Prime Minister and Minister for Finance outlines the proposed changes With an almost untouched landscape of lush rainforest-covered mountains, dramatic black sand beaches and gushing rivers, the Eastern Caribbean island of Dominica has earned a well-deserved reputation as the “Nature Island.” An increasing number of tourists in the know visit our beautiful tropical shores. In 2012, close to 80,000 stay over visitors (plus more than 266,000 additional cruise ship visitors) arrived in Dominica to hike across nature trails, swim in the pools of the hundreds of waterfalls across the island and dive in our coral reef-filled waters, which are considered one the world’s top ten diving spots. Many simply come to

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MONEY Passports to Paradise unwind, relax and soak up the sun. However, it is not tourists alone who have Dominica on their radar. Many investors too have been beating a path to our door. Since 1991 when the Commonwealth of Dominica launched an Economic Citizenship Programme, the country has allowed investors contributing to the economic development of Dominica to apply for full

income earned outside Dominica, except if resident. Various business advantages are available too, including opportunities to invest in an emerging economy, tax incentives and exemptions from import duties. Successful applicants, who are not required to renounce their existing citizenship, also enjoy the benefits of a Dominican passport, which enables hassle-free,

citizenship of the country. While the startling natural beauty of Dominica is a major draw, for investors the island offers other attractions too. As a member of the Commonwealth, the Organization of American States (OAS), the Organization of Eastern Caribbean States (OECS), the Caribbean Community (CARICOM) and various other international organizations, Dominica is a stable, peaceful independent state with a political and legal system based on the UK and local currency pegged to the US Dollar. Dominica provides an investor-friendly environment with no wealth, gift, inheritance or capital gains taxes. Successful applicants will not be taxed on

visa-free travel to more than 50 countries, including the EU, increased travel security, as well as all the benefits of citizenship of a CARICOM and Commonwealth member state. To qualify for Economic Citizenship, rigorously vetted applicants must be over 21 years of age, have a basic knowledge of the English language and be of outstanding character. During the 20 years that the programme has been in existence, applicants have been required to make a nonrefundable investment of $100,000 (USD) for a single applicant, $175,000 (USD) for an applicant plus spouse or $200,000 (USD) for a family application (applicant

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MONEY Passports to Paradise plus spouse and two children below the age of 18). An additional investment of $50,000 is required for each additional dependent below the age of 18. All in all, the Dominican Citizenship by Investment is significantly more cost effective than other similar programmes. Following a review, in its July 2013 Budget Address Government announced proposals for investors to have the option to obtain citizenship through a new route. While the existing investment options will be maintained, a new supplementary variant of the programme will be introduced. Via this new option, applicants may become eligible to apply for citizenship by contributing to the economy through a direct investment in an approved project, such as real estate. The legislative and administrative arrangements are currently being finalised and full implementation is expected shortly. In another proposed change, parents aged 65 and over who live with and are fully supported by the main applicant, as well as children of the applicant aged between 18 and 25 will qualify as dependents for a family application. The Government also plans to introduce timelines to complete the process, with the objective of processing completed applications within 3 months from the time of submission. This new, smoother path to citizenship for investors is aimed at encouraging more investment in to Dominica’s economy, while offering investors an additional option which has been tried and tested by countries operating similar programmes. A natural next step, the proposed investment option is expected to only enhance the appeal of Dominica’s Economic Citizenship Programme to prospective applicants.

111 Investor-friendly Islands

St Kitts & Nevis by H.E. Ambassador Rosalyn Hazelle St Kitts & Nevis runs the longest established Citizenship by Investment Program in the world and the program has achieved considerable success in attracting investors who have made a significant contribution to the Federation’s development, says the Chief Executive Officer of the St Kitts Investment Promotion Agency In 1984 the Federation of St Kitts & Nevis launched the world’s first Citizenship by Investment Program with the aim of attracting investors of good character

to make a substantial contribution to the economic development of the country. The program remains in operation, making it the longest established program of this kind in the world. The program is also considered by citizenship specialists to have a solid reputation, having been carefully structured to ensure all applicants are carefully vetted and only a limited number are granted full citizenship. As a result of this rigorous approach, the program offers investors a host of benefits from trouble-free international travel and an investor-friendly tax environment to right of residency in our friendly, peaceful and stable nation. Great pains have been taken to safeguard the integrity of our Citizenship Programme. Consequently a St Kitts & Nevis Citizenship Programme offers the bearer extensive visa-free travel to more than 120 countries worldwide, including all of the EU, Canada, Hong Kong, Switzerland and many other countries. The Federation has endeavoured to create an investor-friendly environment, through offering, for example, freedom from income, capital gains, inheritance and gift taxes. The Government also offers tax holidays, guaranteed repatriation of profits and concessions on import duties to attract businesses. Citizenship is awarded for life and can be passed on to future generations by descent. In common with all other citizens of St Kitts & Nevis, successful applicants enjoy the right of residency in the Federation, as well as in the member countries of the Caribbean Community (CARICOM). With a magnificent 3,600 ft cloud-peaked mountain surrounded by an ever-expanding rainforest, golden sand beaches, world class hotels, championship golf courses and fascinating colonial era architecture such as the UNESCO World Heritage Site Brimstone Hill Fortress and untouched dive sites to explore, St Kitts & Nevis has so much to offer. However, residing in St Kitts & Nevis is not mandatory when applying for citizenship. Regarding qualification criteria, the Citizenship by Investment Program provides options for investors. To qualify for citizenship under the first option an applicant is required to make an investment of at least $400,000 (USD) in an approved real estate development. The Citizenship by Investment Program has stimulated the real estate sector and beautiful developments of villas, condos and home sites have sprung up across both St Kitts and sister island Nevis which are designated as approved for the Citizenship by Investment Program. In addition to the real estate investment itself, government fees are also payable as follows: $50,000 (USD) for the main applicant plus $25,000 (USD) for any spouse, child under 18 or child aged 18-25 in full time education and fully supported by parents.

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To qualify for citizenship under the second option an applicant is required to make a non-refundable contribution to the St Kitts & Nevis Sugar Industry Diversification Foundation, a public charity audited by PricewaterhouseCoopers/Grant Thornton. For a single applicant the required contribution is $250,000 (USD). The required contribution level rises to $300,000 (USD) for a family of 3 members (i.e. one spouse and two children below the age of 18), to $350,000 (USD) for a family of 5 members (i.e. one spouse and four children below the age of 18) and to $450,000 (USD) for a family of 7 members â&#x20AC;&#x201C; including all government fees

bar due diligence fees. Unmarried dependent children between the ages of 18 and 25 can also be included in the same application, for which there is an additional government fee of $50,000 (USD). The investment instruments also allow a potential citizen after meeting the criteria under our rigid due diligence investigations to invest in development activities that afford acceptable employment opportunities. In this regard, the specific development areas targeted are Renewable Energy, Infrastructure Projects, Affordable Social Housing, Diversified Agriculture and Technical Vocational and Skills Training.

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PROMOTION

Caribbean Design Excellence Brian D’Ornellas, Regional Director of OBM International, on the importance of having a local presence backed by global expertise to deliver successful design solutions in the Caribbean

The Citizenship by Investment Programme for Antigua & Barbuda presents significant avenues for development to strengthen not only the community but the island’s tourism sector. Understanding the needs of the region, Caribbean based design firm, OBM International has more than seven decades of experience. Positioned as a highly prestigious design-consulting firm, offering a full set of master planning and architectural design services, meeting the needs of new developments as well as the community is imperative to the island’s growth through the CIP programme. Mike Wilson, OBM International’s COO comments “as a Caribbean based company we are excited by the opportunity that the CIP Programme brings for inward investment – we believe that the jobs created in the construction and hospitality sector by projects currently approved for inclusion in the programme, including The Reserve

at Pearns Point – a five star hotel with adjoining Marina Residences – will further strengthen an economy that is rebounding strongly after the global recession.” OBMI operates through five Centres of Excellence; specialized business units which leverage key strategic strengths and skills to provide a seamless flow of expertise, ensuring that clients benefit from accumulated intelligence and specialist skills within OBM International. Our Centres of Excellence are: Destination Creation — the conception of unique destinations across the globe Urban Lifestyle — focused on urban and mixed-use environments planning, and architecture design Island Living — leveraging our successful history in quality residential and boutique resort design Inside Design — the design of interiors that lift the emotions

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Green Matters — sustainability expertise applied to planning, construction and operations With tourism being significant lifeblood for the islands of Antigua and Barbuda, OBMI’s belief in responsible and sensitive design is relevant through our sustainable tourism planning projects and will aid in ensuring sustainability throughout CIP projects. With an office in Antigua, we provide firsthand knowledge of the island. As a design firm, we have the expertise to ensure a strategic approach while ensuring responsible growth of the island. Having strong ties to the community we are eager to work with new investors to create their visions in our island home, which will eventually become theirs as well. www.obmi.com bdornellas@obmi.com

MASTER PLANNING • ARCHITECTURE • INTERIOR DESIGN

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in t e rv i e w

A Sustainable St Kitts Caribbean born social entrepreneur,Val Kempadoo is the founder and visionary behind Kittitian Hill – a new project dedicated to changing and enhancing travel and tourism in St Kitts

“Kittitian Hill is a venture I dreamt of over eight years ago, we are devoted to creating a real estate and hospitality destination, anchored in a holistic philosophy of sustainability and authenticity. The project will be a catalyst for change, bringing lasting benefits to the local people and economy. The project will exude the culture and values so deeply rooted in the Caribbean’s rich history.” Kittitian Hill occupies a strong footing in St Kitts, not just in terms of luxury offerings but also due to its stunning location. Available for sale, the Yaya Groves villas are perched on the lower edge of Mount Liamuiga and feature spacious open-air terraces and swimming pools. Hotel accommodation will be provided by boutique hotel, Belle Mont Farm, featuring distinctively Caribbean guesthouses. In late 2014, The Village Inn Suites will also debut and offer one and two-bedroom guest rooms situated in the heart of the Village. “The Kittitian Hill business model has encapsulated my strong beliefs and adheres to four pillars of sustainability; community, culture, economy and ecology. The project has been developed to be economically sustainable and is based on fair trade

principals, active local recruiting, training and collaboration.” Val explains how the local contractors currently on site are bringing their expertise, knowledge and skills into building the hotel, villas and other physical structures. “From a young age I had a passion for sustainability, researching and constructing functional windmills and biogas digesters at the age of 17. As well as becoming a recognised leader in applying sustainability to development within the Caribbean region, I have attended overseas summits on behalf of the St Kitts and Nevis delegation and co-founded Congress of the People (COP), a Trinidad-based party based on fair and just governance.” When Kittitian Hill starts welcoming guests officially in 2014, Val would like them to leave with a different outlook on the Kittitian culture. “Like life itself, the evolution of Kittitian Hill will be a journey, a path toward self-discovery and awareness that guests, residents and developers will travel together as our community takes shape. Just as Kittitian Hill evolves for the 21st century, its residents will be linked by a shared purpose and vision of community and culture.”

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MONEY WEALTH MANAGEMENT

The Art of Wealth Management Paul Jenkins, Scotia Private Client Group, Barbados

Exceptional art, stunning properties and beautiful jewelry all have a similar foundation in planning, foresight and attention to detail. Wealth management can be viewed in a similar light, with consideration given to the same tenets of planning, detail and foresight. What is it that aficionados of fine crafts are drawn to? One could suggest detail, time devotion, or simply the passion displayed in the end product. The team that manages a family office or portfolio of wealth should display a commitment, engagement and passion toward excellence in service and knowledge of key advantages associated with jurisdiction of choice. The canvas of wealth management in the Caribbean can be argued to have certain key strategic advantages. First, for those families or institutions that have global exposure and are exercising efficient tax planning, certain islands have a multitude of useful bilateral treaties that can be employed to strategically lower an entity’s overall tax rate. This is usually done when families or institutions set up a physical presence in the jurisdiction of choice and receive counsel from accredited accounting and legal firms on the island. The purpose of these bilateral treaties is to encourage cross border trade and investment by mitigating double taxation. Yet when properly struc-

tured, these treaties can be used intelligently to deliver value in a transparent, compliant and regulated manner to family offices, trust structures, captive entities and private portfolios. The second advantage marries well the first; that access to financial products and services can, for the most part, be achieved on the island or jurisdiction of choice. I often tell my global investors “what you trade and request information on in London, New York, Toronto and Hong Kong, you have access to here in the Caribbean.” Many clients are surprised to learn that many advisors in the region manage portfolios that have securities in Euro, Pound Sterling and Canadian and Australian dollars. Great comfort exists in knowing that investors have a reach to global financial securities from their advisor’s platform in the Caribbean. The third advantage speaks to security and custody of assets in one’s portfolio. Acknowledging that your relationship manager resides in the Caribbean is further comforted by knowing that the assets in the portfolio are actually held in custody safely in Canada, the United Kingdom or another major financial regulated country. This is a very important point, as major financial centres offer insurance, infrastructure and access to global markets that global investors expect. So the family office, captive entity, or trust is managed out of the Caribbean with the assets in a safe regulated financial jurisdiction.

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A fourth advantage comes in the form of adherence to global compliance standards. There are many international financial centres in the Caribbean that do not appear on the Organization of Economic Cooperation and Developmentâ&#x20AC;&#x2122;s (OECD) uncooperative list. This indicates that the many reputable island jurisdictions are in adherence to a global a compliance standard set out by the OECD, and are transparent in the manner in which they enforce global, regional and national rules and regulations. The fifth advantage would be in the standard, and quality, of living in the chosen island jurisdiction. Many of the Caribbean islands have excellent quality of living in terms of safety, access to good schools, international airports, standard amenities, and proper infrastructure that one would have access to in a larger nation. These factors are important when families or companies look to set up offices or family homes. A sixth advantage is the Trust-friendly legislation and law of certain island statesâ&#x20AC;&#x2122; infrastructure. Certain island states have their legal foundation in British common law and rules of equity. Familiar Commonwealth law can assist in planning International Trusts, Purpose Trusts or Private Trust companies. These Trust structures can own a variety of assets including, but not limited to, private companies, real estate, collections, securities and insurance contracts. Commonwealth law, in

many instances, would be familiar with family lawyers from other Commonwealth nations who could opine on the Trust structure and/or liaise with legal advisors in the Caribbean when crafting the appropriate Trust structure for client. The seventh advantage speaks to how a client can be better globally competitive by using a unique Caribbean jurisdiction that has relationships and treaties with an expanded network of global partners. Consider a multi-national corporation that has operations in Chile, Mexico, Panama, Venezuela, Peru and Guatemala. If this company was considering financing through a tax efficient vehicle they would find advantages in choosing a jurisdiction that provided a reduced rate of withholding tax on interest paid to lender. The use of an international bank for financing into certain countries in Latin America can provide benefits to the company that wishes to leverage operations in region. Certain Caribbean countries have double taxation agreements and tax rules that will allow for the company to take advantage of withholding tax benefits. The beauty of these advantages could not have been achieved decades ago, yet with the intelligent and strategic direction of government policies (in certain jurisdictions) and sub branches of major global banks in the region, the reality of true global wealth management can be achieved.

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LIFE TRAVEL FASHION ART INTERIOR DESIGN RUM

travel

Fresh & Wild Leo Bear

ST Y LE

With so many new resorts, upgrades and revamps taking place, the Caribbean has never looked so good. From the sun-drenched shores of St Lucia to a private island paradise in Panama, here are our top picksâ&#x20AC;Ś The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

LIFE & ST YLE travel Ritz-Carlton Reserve, Pearl Island, Panama Hot on the heels of the recently opened Dorado Beach in Puerto Rico, Ritz-Carlton Reserve is breathing life into a pristine reef and beach-fringed private island 45 miles south of Panama City. Details are only just emerging, but what we do know is the resort will have a strong focus on individualised service, a relaxed atmosphere and a dedication to preserving the diverse species of fish, birds, turtles and whales that call the island home. Eighty rooms will boast private plunge pools and outdoor terraces. Pearl Island will also offer three swimming pools, three restaurants, a spa offering indigenous outdoor treatments and beach club as well as access to a marina, fishing village and equestrian centre. Guests can be choppered in to Pearl Island or land their private planes on its airstrip, but by whatever means you travel, you’re certain to enjoy the view: over 70 per cent of the 3,500-acre island is protected virgin forest. Next up for Ritz-Carlton Reserve? Molasses Reef, Turks & Caicos. Watch this space. Hotel St Barth Isle de France, St Barth Reopening this October following a complete renovation of all its rooms, suites and villas, Hotel St Barth Isle de France is now under the strong guiding hand of luxury fashion, beauty and hospitality group LVMH. The extensive lick and polish has taken twelve months and CPI can report it’s looking better than ever. Located on one of the most exquisite beaches in St Barths, the hotel was already a go-to destination for travellers seeking five-star fly-and-flop indulgence, and now with a brand-new breezy image (vintage French fabrics, sheer linens and neutral tones), it’s certain to attract the in-crowd. Not to mention wine-lovers.

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Previous Page: Pearl Island, Panama Above: Hotel SaintBarth Isle de France, courtesy of P Carreau

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LIFE & ST YLE travel Belle Mont Farm, Kittitian Hill, St Kitts Scheduled to open at the beginning of 2014, Belle Mont Farm is an exciting new concept. Comprising a collection of one-bedroom guesthouses and larger farmhouses overlooking 400 acres of organic farmland, the emphasis is on keeping things personal. Open your fridge and you’ll find half a dozen bottles of wine carefully selected by the hotel’s sommelier, and fresh fruit picked from the grounds will be delivered daily. But more than this, Belle Mont Farm is part of a wider project to enhance the local area. Art galleries, artisan workshops, a film school and open-air cinema will follow the hotel’s inception – all designed to benefit the local community. If it works, the Caribbean may well have found itself a new model for sustainable tourism. Nayara Springs, Costa Rica Last Christmas, Costa Rica unwrapped a very exotic present: Nayara Springs, a boutique hotel surrounded by pristine rainforest near the Arenal Volcano National Park. Sixteen rustic-chic villas nestled in exotic gardens provide shelter for nature-lovers who dream of drifting to sleep to a cacophony of birdcalls. From your terrace, you can spot toucans, hummingbirds and macaws (the area is home to a high concentration of rare flora and fauna) or enjoy a dip in your own private pool fed by mineral springs. Should you ever tire of your lush tropical surroundings, a bridge across a deep ravine leads to Nayara Springs’ sister property, Nayara Hotel Spa & Gardens, where there is plenty more to explore.

Top: Belle Mont Farm, St Kitts Bottom: Nayara Springs, Costa Rica

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Dominican Republic Has it all

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.

To book your flights and holidays go to ba.com/dominicanrepublic

Call: 020 7242 7778 uk@godominicanrepublic.com www.godominicanrepublic.com Like us on

Go Dominican Republic

LIFE & ST YLE travel

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Capella Marigot Bay, St Lucia A firm favourite with the yacht crowd, the former Discovery Hotel at Marigot Bay on St Lucia’s west coast has been taken over by the luxury Capella Hotel Group in a sale brokered by 7th Heaven Properties. Stamping the property with its own brand of elegance, improvements are scheduled to finish in September 2014 when 124 snazzy refurbished rooms will be available to book. Arguably occupying one of the most beautiful bays in the Caribbean, Capella Marigot Bay boasts a spa, several restaurants and vibrant marina, large enough to accommodate some of the biggest megayachts in the world – so, as well as easy access, there’s ample opportunity for people-watching. Charters available on request. The Cliffs at Oil Nut Bay, British Virgin Islands Doing its best to out-luxe every resort in the Virgin Island archipelago, Oil Nut Bay has unveiled three new super-suites. Perched on a rocky bluff, the accommodation entitled ‘The Cliffs’ consists of a trio of eco-luxury individual suites enjoying unobstructed views of the Caribbean Sea. While all three feature green roofs, solar panels, outdoor showers and plunge pools, it is the 1,334 square foot Cliff Penthouse Suite that really sings. Every inch shimmers with European glamour courtesy of FENDI Casa styling and furniture. Occupying the highest point of the bluff, the suite also boasts a wraparound terrace and full-size swimming pool. Eden Roc at Cap Cana, Dominican Republic Still fresh from its opening in December 2012, Eden Roc at Cap Cana is bringing a new level of luxury to the Dominican Republic. Thirty-four suites summon the Mediterranean Riviera circa 1960 with a dash of Caribbean colour thrown in. Facilities are bang-on for families. They include a spa, golf course, beach club, kids club and six restaurants – so something for every generation. Best of all, at the heart of the boutique resort lies a massive natural grotto. With walking paths, breathtaking waterfalls and a freshwater lagoon, it’s much, much more than a mere photo opportunity.

“Thirty-four suites summon the Mediterranean Riviera circa 1960 with a dash of Caribbean colour thrown in”

Globe-trotting travel writer Leo Bear also writes for Condé Nast Traveller, Sunday Times Travel Magazine, House and Garden and Elle UK.

Top Left: Capella Marigot Bay, St Lucia Bottom Left: The Cliffs at Oil Nut Bay, BVI Above: Eden Roc at Cap Cana, Dominican Republic

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LIFE & ST YLE Fashion

All that Glitters VICTORIA GAIGER

”Had I the heavens’ embroidered cloths, Enwrought with golden and silver light, The blue and the dim and the dark cloths of night and light and the half-light, I would spread the cloths under your feet.” Yeats’s poem comes to life this summer with metallic fabrics and trims. Usually reserved for autumn/winter, this summer sees a metallic trend that looks set to have us all putting on the glitz. Summer shine filters from the catwalks into wearable pieces that shimmer worn beachside or add glamour for chic summer evenings. Designers have tuned into iridescent metallics with astonishing cohesion. There was subtle silk satins at Gucci, pleated foil fabrics at Lanvin, draped metals at Altuzarra and shimmering black at Ellie Saab, Cavalli and Louis Vuitton. A host of other designers got in on the act as well from Isabel Marant, Givenchy, Louis Vuitton and Marc by Marc Jacobs - to name a few. Many designers used it for whole looks whilst others opted for touches of shine or metallic trims. The razzmatazz hasn’t just been reserved for clothing. Accessories were as glamorous, with their fair share of diamonds, diamante and glitter. The trend doesn’t stop there. Beauty trends have followed suit with lustrous super shiny hair, metallic eye shadow and bright lips. At the Maiyet show, make up artist Tom Pecheux highlighted the eyes in bronze before adding metallic highlights into the inner and outer edges of the eyes.

Swimsuit by ADRIANA DEGREAS 5.

Catwalk shot by GUCCI 6.

1. Tank Anglaise medium watch by CARTIER 2. Crystalactite cuff by MAISON MARTIN MARGIELA FOR ATELIER SWAROVSKI 3 & 4. Sling high strappy sandals and flash sunglasses by JIMMY CHOO

5. Ladies Royal Oak watch by AUDEMARS PIGUET 6. Shoes by ARMANI 7. Quatre Classique large ring by BOUCHERON 8. Handbag by DOLCE & GABBANA

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Not a swim short – but a short you can swim in

NOTTING HILL

MAYFAIR

CANARY WHARF

SPITALFIELDS

LIFE & ST YLE fashion

Blue, Blue and More Blue

1. Yacht-Master II watch by ROLEX 2.Woven trainer by GIORGIO ARMANI 3 & 4. Polo shirt and panama hat by FRESCOBOL CARIOCA

5. Chevron two-row bracelet by DAVID YURMAN 6. Shorts By Orlebar Brown 7.Sunglasses by DIOR 8. T-Race MotoGP Limited Edition watch by TISSOT

VICTORIA GAIGER

From before the invention of trousers, blue has been a menswear staple. It seems it’s never been out of fashion, from the court clothing of the 13th century, through Beau Brummel’s blue suits of the 19th century to the rise of denim in the 1950s. Blue originally signified power, wealth and class and later became the colour of workwear but recently it became less a fickle fashion trend and more a classic. Now some designers have chosen to bring it back to our attention. While bright floral prints were the talk of the season, a whole host of blues continued to hit the catwalks, with Calvin Klein and Armani choosing to present almost their whole menswear collection in blues. Then there was grey blue at Dior, cerulean blue at Lanvin, sombre blues at Canali and Zegna, to ombre at Jonathan Saunders, petrol at Armani and baby blue at Nicole Farhi. Even inks and navy made it into the palette at Hermes and Trussardi. Look for inspiration to the crystal waters of the Caribbean for the full spectrum of blues to choose from. Add layers of tones or team with a touch of citrus, spicy red or even a floral print for a bright statement. Alternatively pair simply with white for a classic look. This is fashion that is on the money but transcends any gender, age or trend barriers. Whether you’re planning investing in a casual suit, a statement bag or simply a polo shirt for the season keep the styling simple and accessorise with softer shades. Fashion Editor Victoria Gaiger travels the world shooting the latest trends for some of the world’s biggest brands. Her next trip will take her to the Caribbean - to Havana, Cuba. She is currently the Menswear Fashion Editor at Harrods magazine. 5.

T-shirt and shorts by ORLEBAR BROWN 7.

Catwalk shot by SALVATORE FERRAGAMO 8.

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LIFE & ST YLE art

The Art of Reconstruction An interview with leading Haitian contemporary artist Philippe Dodard Robert Cooper

Born and still resident in the Haitian capital Port-auPrince, he has emerged as one of the Caribbean’s leading contemporary artists and collaborated with world famous fashion designer Donna Karan. Now painter and sculptor Philippe Dodard is shifting his focus to rebuilding his country’s art scene and nurturing the next generation of artists. I asked him about his experiences, inspiration and hopes for Haiti’s future. On 12th January 2010 a powerful earthquake ravaged the island of Haiti, devastating lives, homes and vital infrastructure in and around the island’s capital Port-au-Prince. Many of the city’s key landmarks, including the Presidential Palace, the National Assembly building and the Port-au-Prince Cathedral, were destroyed or severely damaged. During the two weeks following the earthquake a series of at least 52 aftershocks continued to rock Haiti. For Haiti’s people, the impact has continued to be felt long after the aftershocks ceased. Lives were turned upside down and priorities reassessed. Haitians and their friends on the international stage channelled their energy into rebuilding people’s lives – the country’s artists were no exception. Despite its poverty, Haiti has always been culturally rich, famous for its abundance of artists and vibrant art scene. The earthquake destroyed much of Haiti’s cultural heritage. Irreplaceable artwork, sculptures and historical buildings lay in ruins. However, with such a rich cultural heritage and long artistic tradition to draw on, art has since been identified as one tool for building a sustainable future for Haiti. In the aftermath of the

earthquake, one of Haiti’s most highly regarded contemporary artists, Philippe Dodard, who has turned his hand to everything from painting and graphic design to sculpture and metal work, was called upon to play his role in rebuilding the nation. Born in 1954, Dodard was awarded his first prize for drawing in 1966 when he was just 12 years old. Drawing led him to painting, a passion he inherited from his mother, who used to produce copies of the classical French masters. During his twenties Dodard dabbled with various styles from Impressionism to Surrealism and Cubism until he developed his own style, Aquatisme. Through fluid water-like imagery he explored “the essence of spirituality” and his relationship with people and nature. As Haiti entered a period of political turmoil during the 1980’s, Dodard’s style evolved once again, into what has become his signature style: Use of bold black and white strokes of ink to capture the reality of life for people in Haiti and powerful symbols from the Haitian voodoo tradition. His “abstract expressionist” artwork, heavily influenced by African art, aims, he tells me, to “speak to your soul and appeal, not only to your sense of aesthetic, but to what humans have inside, an essential spirituality and power”, like “the beat of the silent drum that you can feel inside your body and soul.” Tragically, the earthquake drowned out the beat of the drum for a time. Dodard told me about his personal experience of 12th January 2010. “My life changed that day… I almost died twice. I was at the Presidential Palace and I left 20 minutes before the earthquake, thanks to my agent who called

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LIFE & ST YLE ART

me for a meeting. I was in a car very close to the Hotel Montana where all the houses collapsed completely. My phone was working – I told him “just keep on driving, don’t stay there” and even though the car was bumping along and he said “I can’t drive”, I told him to “just keep on driving, go.” We passed a 15 metre wall and right after that the wall collapsed on five cars behind me.” The earthquake has had a profound impact on Dodard. Ever since, he has dedicated himself to projects which use art for the benefit of Haiti and its people. He tells me “since that time I have wanted my art to be useful for my community.” For the entire year after the earthquake he worked with Haiti’s First Lady Madame Préval on a project called Plas Timoun (The Children’s Place), which provided a safe place for Haitian children to express how they had been affected by the earthquake through art and learn to cope with the trauma. The children who participated in the project learned not only to cope with their traumatic past but to explore their creativity and hidden talents. Dodard is now a strong advocate of the power of art and its potential to contribute to Haiti’s future. Besides Plas Timoun, Dodard has worked on other projects to help rebuild the country. He played a key role in the reconstruction of the iconic Iron Market (Marche de Fer), which served as a commercial and social hub in Port-au-Prince from 1891 until the earthquake brought it down. The new market, rebuilt with as much of the original material as possible, provides a

base for almost 1,000 market traders to sell their wares and stands as a potent symbol of hope for future economic and cultural regeneration. Thereafter Dodard went on to work with one of the world’s most famous fashion designers, who shares a passion for Haiti and the potential of its artists. On a visit to the island, Donna Karan was inspired by his artwork, writing in her blog “no one captures Haiti’s heart and soul like artist Philippe Dodard.” Donna Karan’s Spring/Summer 2012 collection featured prints inspired by Dodard’s black and white paintings and were exhibited side by side in Miami’s Museum of Contemporary Art. He also continues to be involved in Urban Zen, the foundation she established to help develop and market the work of Haitian artisans internationally. Dodard told me about this initiative. “With Donna and her Urban Zen Foundation we are developing artisans’ skills to produce very high quality products that can be sold on the international market. Working with a designer of such a high level has helped me see how Haitian art can be promoted on the international market. We are working on developing the skills of artisans, the quality of the products and developing an understanding of how to be competitive on the international market, to ensure good service and how to conduct business sustainably.” Dodard’s current primary focus is the National School of Arts (ENARTS). In January 2012 he received a phone call from President Martelli requesting he take on the role of Director of the School. Dodard accepted. The role is in many ways a natural progression of the various projects he has been involved in up until this point. He explains his hopes for the school. “It was a school that needed to developed, to be more professional, to be equipped and develop new spaces to be built. It is a challenge for an artist. I accepted the challenge and it is my main work now… I want to make the students aware of their role in developing the country and how they can contribute to it and make a living out of that.” Dodard firmly believes that, with nurturing, the emerging generation of Haitian artists can make a major impact on the world stage and on Haiti’s cultural and economic regeneration. “What we have in our culture, we can really take that to sell different kinds of products and different kinds of services: performance, theatre, music, dance, fine art, fashion… The fashion industry is big – why can’t Haiti be in that market? Artisans have a big role to play in that development.” So, with memories of the earthquake still raw and its impact still keenly felt, Dodard is firmly focussed on the future and the beat of the silent drum is reverberating more powerfully than ever.

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“I want to make the students aware of their role in developing the country and how they can contribute to it”

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Left and Right: Cove Spring House, Barbados

LIFE & ST YLE INTERIOR DESIGN

World of Inspiration From the wild plains of Africa to the hustle and bustle of one of London’s oldest markets, interior designers can find inspiration everywhere. Five professionals share their thoughts on how to bring a fresh vision of luxury to a home in the Caribbean by infusing design influences from around the world

Lynne Pemberton Out of Africa

In 2004 Lynne Pemberton was approached to decorate Cove Spring House, a palatial private residence overlooking the Caribbean Sea on Barbados’s Platinum Coast. Charged with creating a sophisticated yet unpretentious tropical retreat for entertaining family, friends and business associates in casual elegance, Pemberton turned to South Africa for inspiration, where the new owner had recently enjoyed several safari vacations. Lynne introduced an eclectic mix of animal prints and skins, ebony finishes, leather furniture in shades of creams and

browns and a twenty four seater dining table hewn from a single tree, oiled and left natural, to complete the African-inspired look. “Tropical living is all about a seamless connection from indoor to outdoor, creating spaces for relaxation and al fresco entertaining,” Pemberton says. “To create a home with the scent of Africa that departs from the clichéd Caribbean interior but works with the light coral stone and the intense clarity of West Indian light, a fresh cool palette is preferable, with just the occasional splash of colour and animal print.”

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LIFE & ST YLE INTERIOR DESIGN

Left and Below: Terrapin Villa, Providenciales, Turks & Caicos, Courtesy of Steve Passmore of Provo Pictures

LKID Out of the Blue

Situated at the heart of tranquil Sapodilla Bay in the Turks & Caicos Islands, Terrapin Villa is a private residence designed by New York City based interior design firm LKID as the ideal contemporary seafront home for an active, well-travelled family. The home embodies the principals of indoor/outdoor living. Massive glazed accordion doors enable a seamless transition from the interior to the exterior without barriers. The colour palette was dictated by the

intense azure of the sea. Varying shades of blue were utilized in materials to accentuate the tones of the surroundings. LKID Founder Lisa Kanning explains how to create the look: â&#x20AC;&#x153;Vivid coral accents create visual stimulation with stark white accents providing contrast. A soft beige and grey backdrop enables the strong hues to invigorate the senses without being too overwhelming and allowing the beauty of the natural vista to truly shine.â&#x20AC;?

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LIFE & ST YLE INTERIOR DESIGN

Left and Right: Hawksview Estate, St John US Virgin Island, courtesy of Dan Forer

Twila Wilson Classic Caribbean

Located on the north shore of St John in the US Virgin Islands, the 11 acre Hawksview Estate epitomizes old world colonial charm and classic Caribbean sophistication. With interiors designed by Twila Wilson, whose work has been celebrated on the front covers of Architectural Digest and Coastal Living, the 4 bedroom property has been designed in perfect harmony with the property’s location in the Virgin Islands National Park and its views which take in over 30 neighbouring islands and cays. With such amazing scenes of windswept greens and blues from all points of the property, Wilson’s challenge was to

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create a seamless flow from exterior to interior and vice versa. Wilson used select pieces of tropical hard wood against neutral-coloured walls and soft cotton gauze curtains to evoke a refined yet relaxed island style that allows the views to take centre stage. “Classic over-sized West Indian mahogany pieces and authentic painted pieces from Brazil, India or Indonesia can help to create a timeless feel,” Twila explains. To bring the style up to date, Twila adds splashes of colour. “Layer rooms with bright ethnic prints on cushions, a few select pieces of artwork and tropical flowers to complete the look”.

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LIFE & ST YLE INTERIOR DESIGN

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Left: Bedroom at Bruce Willis Residence designed by Keith Hobbs, United Design Partnership Below: Bathroom at Bruce Willis Residence, designed by Keith Hobbs, United Design Partnership

United Design Partnership Colonial Revival To create a contemporary colonial-style finish, London’s United Design Partnership, which was responsible for the interior aesthetic at Parrot Cay in the Turks & Caicos Islands, as well as the Metropolitan by COMO in London, worked with white fabrics and walls to set off a few select pieces of dark wood furniture. CEO Keith Hobbs explains “an authentic Caribbean contemporary look with a colonial-style finish was achieved with warm colours and soft white cottons and linens covering chairs, cushions and

four-poster beds. Further design motifs included teak furnishing, terracotta tiles and Indonesian loungers. Windows were shuttered and bathrooms finished with white tongue-and-groove wooden surfaces.” He adds “A pared down aesthetic should combine neutral colours of sunbleached oak and pale Caicos stone with white cottons. Warm woods and cool limestone provide a contemporary backdrop to a unique collection of eclectic furniture, art and ornaments from around the world.”

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LIFE & ST YLE INTERIOR DESIGN

Left and Right: “The Galleries”, Nevis, courtesy of Ed Reeve, www.editphoto.net

Naomi Cleaver Vivid Vintage

“The Galleries” on Nevis was originally built in the early 1960s and said to have been owned and used by the CIA for cocktail parties. When Naomi Cleaver – British designer, best-selling author of “The Joy of Home” and presenter of prime time TV shows including Britain’s Best Home and Grand Designs Trade Secrets – set about renovating the 4 bedroom stone and timber plantation house, she wanted to create an atmosphere inspired by the history of the house whilst bringing it up to date.

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Cleaver explains how to achieve the look. “Use vintage-inspired colour schemes, such as turquoise and orange. I reupholstered the furniture in graphic fabrics from London’s Berwick Street Market to create a retro feel.” “Temper bright wall colours with white floors and ceilings. I love the combination of green and white. It provides a natural feel and tranquil effect. Bright wall colours also help to frame outside views, making them look like a painting that evolves as the light shifts throughout the day.”

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LIFE & ST YLE INTERIOR DESIGN

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Jennifer Bradford Davis Warm Earth

Having worked on luxury homes in the USA, Caribbean, South America and Europe, New York-based Jennifer Bradford Davis has been featured in magazines including House & Garden and Town & Country. For one client’s villa on Mustique, she took design inspiration from the surrounding landscape to bring the warmth of the outside in by evoking the beach and earthy Caribbean topography. If you are looking to create a warm, inviting feel perfectly suited to the Caribbean, “choose sandy colours and look for textured, natural fabrics like cotton boucles and raw silk/linen blends for upholstery,” Jennifer advises. Jennifer selected hand-rubbed wood finishes in dark and light tones for the furniture pieces, including a vintage chaise

lounge from the 1930s to create an intimate reading nook. “Incorporate geometric, wave-like and organic shaped patterns rather than representational motifs,” she says. “Textured wall finishes such as stucco can resemble wave patterns.” To add visual interest Jennifer displayed a collection of decorative accessories on cantilevered open shelves, including woven Japanese baskets that add an extra layer of warmth and feeling of comfort. “The simplicity of organic shapes used as artwork and accessories is conducive to rest and relaxation,” she says. “ Selecting artwork for warm locations can be tricky as most mediums become damaged in the climate. I often use ceramics. They are impervious to the harsh marine environment.”

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LIFE & ST YLE rum

Tradition of Craftsmanship For over 120 years five generations of the Pellas family have perfected the unique slow-aging process that has made Flor de CaĂąa won of the worldâ&#x20AC;&#x2122;s most highly acclaimed rums

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LIFE & ST YLE rum The small town of Chichigalpa in North West Nicaragua stands in the foothills of awe-inspiring San Cristobal, just one of a string of volcanoes punctuating the landscape of the Central American nation aptly nicknamed the “Land of Lakes and Volcanoes.” Over the centuries the soil has been enriched by volcanic ash and pure water from Nicaragua’s freshwater lakes. Rich and fertile, its land is ideal for growing various crops including sugar cane which, for over 120 years, has been grown at a plantation in Chichigalpa. In 1890 Francisco Alfredo Pellas, the owner of Chichigalpa’s San Antonio Sugar Mill, first used the molasses produced from the sugar cane to create rum. In so doing, he created a family legacy which would blossom over the decades into a global rum brand of distinction. Within 50 years the plantation had set up a dedicated company to produce rum on a large scale and by the 1960s the Flor de Caña brand, named after the sugarcane flower, was being exported to Mexico and the rest of Central America. Still made with molasses from sugar cane harvested in fields adjacent to the distillery, this single estate rum is now available in over

40 countries worldwide and has emerged as one of the world’s most highly praised rums. Since 2000, for example, Flor de Caña has won more rum awards than any other rum brand. What sets Flor de Caña apart is a unique slow-aging process, perfected by five generations of the Pellas family. The rum is distilled five times by the Master Distiller in accordance with a process that has remained unchanged to ensure consistency of taste. The rum is the n naturally slow-aged in white oak barrels and left undisturbed to allow the amber colour and smooth flavour to develop. Flor de Caña produces light and dark rums, both of which are highly praised. The 4, 5, 7, 12 and 18 Year Olds have all won multiple gold medals at various international competitions. The star of the collection is the Flor de Caña Centenario 25 which has been slowly aged for a quarter of a century. The result, a smooth, luxurious taste with hints of vanilla, wood and cocoa, notes of fruit, almond and caramel and a long, buttery finish – a rum Francisco Alfredo Pellas would be proud of.

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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

4. 25.

14.

17.

11.

13.

26.

1. 22. 19. 2. 20. 15. 10.

18.

21. 23. 3.

12. 24.

1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

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

11. 12. 13. 14. 15. 16. 17.

16.

The Dominican Republic Grenada Jamaica Mexico Montserrat Panama Puerto Rico

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

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

PRIME PROPERT Y RESIDENTIAL

Life of Luxury — Anguilla 4 Bedroom Luxury Home Long Pond Offering breath-taking views of the Caribbean Sea and the neighbouring islands of St Martin, St Barth, Saba and St Kitts, this villa exudes contemporary sophistication. The property includes a living room with double height ceiling, fully equipped kitchen and 4 air conditioned bedrooms, all with en suite bathrooms. Outside a spacious terrace with outdoor dining area overlooks a large pool. As a result of its layout, ambiance and location 10 minutes from Shoal Bay East (one of the world's best beaches) and 15 minutes from the international airport, the villa has provided a successful rental revenue stream. Offered at: US $1,100,000 Anguilla Opulent Escape The British Overseas Territory of Anguilla is one of the Caribbean’s best-kept secrets. Measuring just 35 square miles and home to 15,000 people, the island boasts 33 pristine white sand beaches, recognised as some of the best in the world. Besides the beaches, the exclusive island has much to explore and experience: galleries and museums, superb spas, tennis, sailing and golf. The property market is geared towards the luxury end of the market. Foreign buyers require an Alien Landholders License costing US $400 and onetime payment of a 17.5% stamp and transfer tax at closing. 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

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PRIME PROPERT Y RESIDENTIAL

Sun, Sand & Sea — Antigua & Barbuda 6 Bedroom Beach House Willoughby Bay Situated in a gated community of just 6 luxury homes on the south eastern coast of Antigua, this stunning contemporary beach house is elegantly poised on a natural bluff and enjoys uninterrupted views of the turquoise sea. The property is set on half an acre of prime beachfront land and encompasses a total of approximately 8,500 sq ft of indoor and outdoor living space. A large open plan living room flows into the kitchen, both of which open on to a sun terrace with direct, private access to the beach and private jetty for mooring. The community is conveniently located just minutes from English and Falmouth Harbours. Offered at: US $4,500,000 Antigua & Barbuda Besides the Beach With 365 stunning beaches, crystal clear seas and vibrant greenery, Antigua & Barbuda is the epitome of the Caribbean dream. However the islands also offer attractive tax benefits, good airlift, a stable political system and high quality property. Renowned internationally for sailing, fishing and diving, buyers the likes of Eric Clapton and Giorgio Armani couldn’t resist the islands’ charms. All foreign buyers require an Alien Landholding License, which costs 5% of the property’s value and can take four months to be approved. Buyers must also pay 2.5% stamp duty and legal fees. A Citizenship by Investment Programme has been launched, which is expected to provide a significant boost to the Antiguan real estate market.duty of 5%. Why Buy in Antigua & Barbuda?  Regional hub with international flights from the

Caribbean, Europe and North America.

 Popular vacation destination with wide variety of

entertainment options and activities.

 Established rental market with income generating potential. 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 Stunningly Designed Villa Santa Barbara Plantation, Curaçao Located in a 1,500 acre world-class beachfront resort community, this brand new villa exudes contemporary style, courtesy of interior designer Eric Kuster. The villa features 6 bedrooms, 6 bathrooms, several living rooms, indoor and outdoor kitchens, plus a spacious outdoor area with large pool stretching the width of the house, on a 4,538 sq m lot. The property is situated next to the 18th hole of the resort’s golf course and enjoys views of rolling hills, Spanish Water Bay and the Caribbean Sea. The community also includes a beach resort, tennis centre, 120slip marina and dive shop. Offered at: US $8,000,000 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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PROMOTION Baha Mar

A Life of Glamour Luxury ownership in The Bahamas, introducing Baha Mar™

The Residences at Baha Mar are set alongside 3,000 feet of uninterrupted white sand beach and crystal-clear turquoise waters. Scheduled to open in December 2014, Baha Mar, the $3.5 billion resort located in The Bahamas, redefines the essence of a luxury beach destination. Baha Mar captures the true spirit of the region, merging the most elite collection of hospitality brands in the world with authentic Bahamian culture and architecture. Amenities at Baha Mar include the 18-hole, 72-par championship Jack Nicklaus Signature Golf Course at Baha Mar, 200,000 square feet of combined state-ofthe-art convention facilities including a 2,000-seat performing arts center and an art gallery with the largest curated collection of Bahamian art; more than 30 restaurants, nightclubs and bars; two spas, including a 30,000-square-foot destination spa; designer retail boutiques, a beachfront sanctuary with native Bahamian flora and fauna, tennis courts offering three different surfaces to play on and 14 distinctive pool experiences.

Created with the most discerning guests in mind, Baha Mar will be a must-visit destination for the well traveled and all those wishing to travel well. Welcome to The New Riviera.Priority reservations are already underway. To learn more about the world’s most glamorous new address or to contact the residential sales team, please visit or contact us at: residences@bahamar.com +1.678.620.9490 +1.855.469.5898 (toll free) BAHAMAR.COM

Not intended as an offer of or solicitation to buy real estate where prior qualification is required. Illustrations are conceptual renderings that may not reflect the project as currently designed or ultimately be constructed. Plans, specifications, features and pricing and are not complete and are subject to change without notice. Obtain the property report required by federal law and read it before signing anything. No federal a gency has judged the merits or value, if any, of this property. © 2013 - Baha Mar Ltd. - All rights reserved.

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PRIME PROPERT Y RESIDENTIAL

Warm Welcome — The Bahamas Waterfront Luxury Paradise Island Located in an exclusive gated community on Paradise Island, this ultra-luxury home designed by world renowned interior designer Adriana Hoyos, is situated directly on the waterway and offers beautiful views of Nassau Harbour. This fully-furnished property includes 4 bedrooms, 4.5 bathrooms, a gourmet kitchen, billiard room, home theatre, poker room, 1,000 bottle wine cellar and multiple living and dining rooms. Outside there is an 80 ft infinity pool and dockage for yacht up to 115 ft. The community includes a beach club and 18-hole championship golf course. Offered at: US $16,000,000 The Bahamas Archipelago of Advantages With over 700 islands, 2,000 rocks and reefs and thousands of miles of pink and white sand beaches, the Bahamas is absolutely beautiful. The country is politically stable too with a tradition of parliamentary democracy going back nearly 300 years and is the third richest country in the Americas in terms of GDP per capita (after the USA and Canada). Luxury beachfront residential communities have sprung up alongside marinas and casinos, attracting wealthy buyers from around the world. Freedom from taxation adds to the archipelago’s appeal and foreign buyers 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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If location is everything, then everything is minutes away.

Enjoy The Residences at Baha Mar in The Bahamas starting from $1.5 million. Set along 3,000 ft. of pristine white sand on the edge of a tropical paradise, Baha Mar offers 284 luxury residences within four hotels. Ownership will afford access to the largest Vegas-style casino in the Caribbean, 18-hole Jack Nicklaus Signature Golf Course, 20 -acre beachfront sanctuary, beach and pool experiences, and world-class shopping, dining and entertainment. Priority reservations are already underway. Act now to make the list. residences@bahamar.com

bahamar.com

+1.678.620.9490

Not intended as an offer of or solicitation to buy real estate where prior qualification is required. Void where prohibited by law. Illustrations are conceptual renderings (or photographs included for illustrative purposes only) that may not reflect the project as currently designed or ultimately be constructed. Plans, specifications, features and pricing and are not complete and are subject to change without notice. English shall be the controlling language regarding interpretation. Any purchase of a Residence should be for personal use and enjoyment and should be without reliance upon any potential for future profit, rental income, economic or tax advantages. No legal or financial advice is being offered and purchasers are solely responsible for determining whether any investment is appropriate or suitable based on personal investment objectives and financial status. No warranty or guarantee is made concerning eligibility for permanent and/or citizenship and in all The Caribbean Property Investor, Issue 4 |residency 7thHeavenProperties.com cases specific inquiries should be made to the relevant agency. Consult with your own legal and business advisors. This advertisement is not an offering. It is a solicitation of interest in the advertised property. No offering of the Residences can be made and no deposits can be accepted, or reservations, binding or non-binding, can be made until an offering plan is filed with the New York State Department of Law. This advertisement is made pursuant to Cooperative Policy Statement No.1, issued by the New York State Department of Law (Convention Residences CPS#130034, Lifestyle Residences CPS# 130035 and Luxury Residences CPS# 130036). Baha Mar, Ltd., West Bay Street P.O. Box N-10977, Nassau, Bahamas. Any listed prices are estimates only. OBTAIN THE PROPERTY REPORT REQUIRED BY FEDERAL LAW AND READ IT BEFORE SIGNING ANYTHING. NO FEDERAL AGENCY HAS JUDGED THE MERITS OR VALUE, IF ANY, OF THIS PROPERTY.

PRIME PROPERT Y RESIDENTIAL

Beyond Compare — Barbados 5 Bedroom Beachfront Home St James Located on Barbados’ Platinum West Coast, this outstanding beachfront villa is designed in a striking contemporary style that takes full advantage of its prime location. Set on 12,000 sq ft grounds, the property encompasses 6,500 sq ft of living space, including 5 bedrooms and 5.5 bathrooms, with interiors designed and furnished by Kelly Hoppen. A shimmering infinity edge pool which softly blends into the blue Caribbean Sea is surrounded by tropical gardens with a path leading directly to the white sandy beach. Offered at: Price upon request Barbados Gem of the Caribbean With its rolling green hills Barbados is often referred to as Little England. However, its pristine white sand beaches represent the Caribbean idyll. As such, the island attracts more repeat visitors than any other and its established property market has attracted high net worth investors for decades. With a host of first class dining options, superb golf and polo facilities, friendly people and a prosperous, stable economy, Barbados has become synonymous with fine living. Property for sale ranges from luxury beachfront apartments to colonial era plantation homes. There are no restrictions on non-nationals buying property. Buyers are liable for 1.5-2% 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

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Reefs & Rainforest — Belize Private Island with 3 Villas Stann Creek A 7.5 acre (30,000 sq m) private island in Belize with 3 oceanfront villas, private enclosed marina, vast thatched grand palapa for dining and entertaining and separate staff quarters located in a World Heritage Marine Reserve 9 miles off the coast of central Belize. This island is situated about 4 miles inside a reef – a location which enjoys natural protection from the elements and is ideal for sailing, fishing and diving. Fitted throughout with modern conveniences and offered “turnkey”, the villas are nestled in tropical gardens with spectacular views of the Caribbean Sea and the island's palm-fringed white sand beaches, gazebos, piers and decks. Offered at: From US $3,500,000 Belize Jaguar Country Despite being a Central American nation bordered by Mexico and Guatemala, Belize has a longer Caribbean coastline than many of the Caribbean islands. Unique for being the only English-speaking Central American nation, the country is a tropical paradise with 450 cays and islets ringed by shallow reefs, lush old growth rain forest, the world’s only jaguar preserve and ancient Mayan ruins. The country is home to the Belize Barrier Reef, the second longest in the world after Australia’s Great Barrier Reef. Property can be purchased in the name of an individual or a shelf corporation. Buyers are required to pay legal fees ranging from 1 to 3% and stamp duty of 5%. 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

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

REDEFINING LUXURY IN BELIZE

Wild Orchid in Placencia is a unique opportunity for discerning buyers who are looking for a luxury property that offers all the modern conveniences and facilities of a world-class development. The master plan for this community is comprised of marina residences, beach residences, and ultraexclusive home sites on a private island just 12.5 miles east of Placencia. Custom built homes from $698,000 USD

www.wildorchidresidences.com

PRIME PROPERT Y RESIDENTIAL

Vestal Vistas — British Virgin Islands 4 Bedroom Home with Sea Views Casey Bay, Virgin Gorda A stunning 4 bedroom contemporary residence for sale on Virgin Gorda set on nearly 4 acres of land overlooking a secluded beach at Casey Bay with panoramic views of neighbouring islands. Luxuriously appointed, the property includes a double-height living room, kitchen with black marble surfaces and dining room. The main house includes a master bedroom with walk-in wardrobes, indoor/outdoor showers and whirlpool bath. There is also a guest bedroom with en suite bathroom and 2 guest casitas, each with bedroom, en suite bathroom, kitchenette and private sea view terrace. Outside there is a covered outdoor dining area, infinity edge pool and terrace with path leading to the beach. The estate also enjoys access to the facilities of the luxurious Little Dix Bay resort, including tennis courts, beaches, docks, spa and restaurants. Offered at: US $11,000,000 British Virgin Islands Yachtie’s Utopia A destination of choice for super wealthy, the 50 islands and cays of the BVIs offer some of the Caribbean’s finest sailing and diving. Renowned for a barefoot luxury lifestyle amidst white sand beaches and lush green mountains, the BVI (a British Overseas Territory) benefits from close links to the UK and EU. Non-resident buyers require a Non-Belonger’s Land Holding License, for which there is an application fee ($200 for an individual, $500 for a company) and license fee ($600 for an individual, $1,000 for a company), plus legal fees (typically 2% of the purchase price) 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 one of the most

prosperous economies in the Caribbean.

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 4 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Unsurpassed Sophistication — Cayman Islands Exquisite Beachfront Estate South Sound, Grand Cayman Located directly on the beach, this palatial residence is one of the finest beachfront homes in the world. The centrepiece of this extraordinary property is a magnificent 5,000 sq ft Great Room with 50’ high woven ceiling and luxurious living space across 3 levels. With 2 grand staircases, 6 chandeliers and enormous windows, this impressive room is suitable for up to 100 guests. 8 bedrooms with en suite bathrooms, an elegant dining room, professional grade kitchen and 400 bottle wine room are all finished and decorated to the very highest standard. The property also includes a pool, tennis court, spa with sauna and steam shower, gym, home theatre and even a hot tub hidden away in a private grotto. Offered at: US $35,000,000 Cayman Islands Life at the Top The trio of islands comprising the Cayman Islands is a British Overseas Territory, probably most well known for being an offshore financial centre and magnet for business. Thanks to the lack of direct taxation, political and economic stability and the highest standard of living in the Caribbean, the islands are home to more hedge funds, banks and companies than people. The islands also boast long stretches of undeveloped coastline, incredibly beautiful tropical flora and fauna and 300 dive sites offering spectacular underwater visibility and fascinating wrecks to explore. There are no restrictions on foreigners buying land in the Cayman Islands. The buying process is relatively simple and property can be acquired in the name of an individual or corporation (which does not reveal actual ownership). Why Buy in 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

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

Tropical Escape — Costa Rica Unique Hilltop Home with 360° Views Puente de Piedra, Grecia Strategically located on the top of a hill in Puente de Piedra, this 1,000 sq m Californian designed home enjoys beautiful views across the rolling hills which extend for miles around. The property features 5 bedrooms, 3.5 bathrooms, formal and family living and dining rooms, office and chef ’s kitchen. Outside a pool with 2 waterfalls is set in to a 12,000 sq m garden with lawn, palms and a variety of tropical flowers and fruit trees including papaya, mango, lemon and mandarin. There is a separate 2 bedroom caretaker house and the estate is fitted out with 2 hot water solar systems, fast wireless internet, TV, Sky TV, electricity generator and several water storage tanks. Offered at: US $2,500,000 Costa Rica The Happiest Place in the World Across 4 mountain ranges, 800 miles of coastline and hundreds of national parks, Costa Rica contains 5% of the world’s biodiversity. Over a quarter of the country is covered by protected forests – twice as much land as 20 years ago. With friendly people, a stable democracy, excellent health care, high quality private schools offering bior trilingual classes and a relatively low cost of living too, it is no wonder Costa Rica was ranked 1st in the Happy Planet Index. The country has therefore become highly attractive to foreign buyers who can acquire property in the name of an individual or corporation. Closing costs amount to 3-4% of the property value and property taxes range from 0.25% to 0.55%. Why Buy in Costa Rica?  Stunningly beautiful, varied landscape.  Direct flights from the US, Canada, UK and Europe

into three international airports.

 Retiree incentives including freedom from tax on

retirement income.

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 4 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Rainforest Retreat — Dominica Eco Luxury Villa North West Dominica Located a 10 minute drive from the town of Portsmouth, these villas are perched amongst the trees on a cliff top offering stunning views of two secluded beaches and rainforest-covered mountains. Designed by an award-winning architect and built from sustainably-sourced Guyanese Greenheart to the very highest standard, villas come complete with fully equipped contemporary kitchens, a state-of-the-art audio-visual system and a private infinity pool. With bi-folding doors and windows to allow the breeze and natural light in, these villas are ideal for modern tropical living. Luxuriously appointed throughout, each ecosensitively designed villa offers privacy and seclusion in a pristine environment. Offered at: US $1,200,000 Dominica Untouched Island Dominica is a spectacularly green island of rainforestcovered mountains and rushing rivers in the Eastern Caribbean. The stunning 754 sq m island if famed for its 365 waterfalls, the world’s second largest boiling lake and black sand beaches. Besides the unspoilt environment, friendly people, a low crime rate, improved infrastructure and a stable government provide investor appeal. 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, some 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.

 Very friendly people and low crime rate. 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

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

Intelligent Investment — Dominican Republic 8 Bedroom Sea View Estate Cabarete Located in a luxurious gated community minutes from the beach and town centre, this one of a kind colonial style home features 8 en suite bedrooms, stunning living room with double height ceiling and fireplace, large formal dining room. The property comes complete with its own helipad, movie theatre and wine cellar. Outside an elegant swimming pool with 4 underwater windows is surrounded by a very large 600 sq m sun deck, which leads down to beautifully landscaped gardens and an impressive freshwater lake with white sandy beach. The property also includes a gym, 2 saunas, steam room, Jacuzzi, basketball court and putting green. Offered at: US $4,900,000 Dominican Republic Caribbean Powerhouse With 1,000 miles of pristine beaches, stunning scenery, bustling cities, world-class championship golf courses and a rich music and food culture, the Dominican Republic is the Caribbean’s top tourist destination. The DR also has the second largest economy in the region. Add to this political stability and good communications and transportation links and you see why the country is so attractive to property investors. The buying process is relatively uncomplicated and there are no restrictions on foreign nationals buying property. 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

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

The Spice of the Isles — Grenada Historical Great House with 2.5 Acre Gardens Morne Jaloux, St Georges An extremely rare opportunity to acquire one of Grenada's last remaining great house estates set on nearly 2.5 acres of land overlooking the beautiful bay of St Georges and the international luxury yacht marina. Set amongst tropical gardens and 2 orchards, this magnificent 4 bedroom estate was built in 1925 on the grounds of a 17th Century sugar cane plantation just 3km from Grand Anse Beach, one of the finest on the island. The property includes 4 bedroom suites with private verandas, a 40 ft great room, dining room, ballroom, spacious kitchen and several other living areas, making the house ideal for entertaining. Offered at: US $2,200,000 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, vibrant spice markets and historic forts and plantations. Together with sister islands Carriacou and Petite Martinique, Grenada retains an unspoilt tranquillity and natural friendliness that is becoming increasingly rare. The islands are also emerging as a hub for international yachting and diving, with the region’s first underwater sculpture gallery and largest shipwreck lying just off shore. Foreign buyers need an Aliens Land Holding Licence and are required to pay an Alien Land Holding Tax amounting to 10% of the purchase price as well as 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.

 Plans to introduce a 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

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

One Love — Jamaica Lagoon & Beach Cottages Oracabessa Bay A selection of cottages located in a boutique resort on Jamaica’s north coast, including 3 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: US $1,100,000 – $1,650,000 Jamaica Blue Mountains & White Sands Jamaica, which has recently celebrated 50 years of independence, has had a disproportionate influence on world music, food culture and sports. It also has another, romantic side which seduces the senses. From the cool hills of the Blue Mountains to the white sands of Montego Bay, the landscape is simply stunning. No wonder the island has attracted Hollywood stars and royalty for decades. Jamaica’s allure is just as strong today. Perfect beaches and cascading waterfalls attract tourists in their millions. There is also a large range of blissful spas and championship golf courses, many connected to luxury gated communities. 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

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Mayan Magnificence — Mexico 3 Bedroom Beachfront Residences Playa del Carmen The final remaining ultra-luxur y beachfront residence located in one of the most prestigious resort developments in Mayakoba, on the white sand shores of the Mexican Caribbean. Beautifully designed and fully furnished, this 3 bedroom residences come fully furnished and luxuriously appointed, complete with full sized private pool, pavilion and Jacuzzi.. Defined by a rare level of personalised service, owners benefit from access to the resort’s 5* hotel facilities, championship golf course a concierge and spectacular beaches. Offered at: US $3,300,000 Mexico Tried & Trusted With a population of over 112 million, Mexico has the second largest economy in Latin America, predicted to be the 5th 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 the world's biodiversity. The ruins of ancient empires, combined with the white sands and coral reefs of Mexico’s Caribbean coast draw millions of visitors and proposals to enable direct foreign ownership of beachfront property is stimulating interest in the real estate sector. 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

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

Old Towne Charm — Montserrat 3 Bedroom Sea Front Villa Old Towne A charming villa for sale in Montserrat's Old Towne located in a quiet residential area enjoying magical views of the Caribbean Sea. Located on a 0.5 acre plot this villa is large enough to comfortably accommodate a family, whilst modest enough for easy, affordable maintenance, making it the ideal home away from home. Well furnished and decorated, the property includes 3 bedrooms, 3 bathrooms, modern kitchen and a living room which opens on to a covered outdoor terrace and pool area with sweeping 180 degree views of the sea and a quiet beach, which is just 5 minutes’ walk away. Enjoy watching sailing boats pass by from the pool or dining on the terrace al fresco as dramatic sunsets give way to the star-filled night sky. Offered at: US $595,000 Montserrat The Emerald Isle The green-carpeted island of Montserrat is most well-known for its grumbling volcano and recording studio, which during the island’s 1970s and 1980s heyday, played host to the great and good 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 the government’s plans for a new capital at Little Bay gathering pace, 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 the Montserrat, contact 7th Heaven Properties: UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

PROMOTION MONTSERRAT

Sea Front Living Spacious 3 Bedroom Villa with Caribbean Sea Views, Olveston, Montserrat

Located in the quiet area of Olveston, this secluded luxury villa for sale on the island of Montserrat is positioned in an enviable sea front location, which enjoys breath-taking views of the Caribbean Sea and the 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 Montserratâ&#x20AC;&#x2122;s majestic, green mountains. The villa itself encompasses a total of 3,600 sq ft of interior space, designed for open plan living, dining and entertainment and finished to a very high standard, with high vaulted, beamed ceilings throughout. 3 bedrooms and 3 bathrooms (including one with outdoor shower) are all appointed with high quality fixtures, fittings and furnishings selected for comfort and relaxation. The master suite features a jet bath, separate shower, his and hers individual vanities, large walkin closet and doors leading directly to the pool area. Enjoy spectacular views of the sea without having to leave your bed.

Large indoor living areas and a fully equipped modern kitchen enjoy views of the sea and open on to the terrace and pool area. The property also includes a large laundry room with washer and dryer and lots of storage space, as well as double car garage. 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 â&#x20AC;&#x201C; ideal for lounging by the pool, dining al fresco or cocktails at sunset while enjoying the uninterrupted views of the dramatic coastline and the Caribbean Sea. Offered at: US $1,600,000 For details on this property, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

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PRIME PROPERT Y RESIDENTIAL

Crossroads of the World — Panama Spacious Balinese Beach Villa Costa Esmeralda A 5 bedroom 5 bathroom Balinese style villa located in an intimate gated community of 14 homes less than an hour’s drive from Panama City. With bedrooms and an open plan living room opening directly on to a terrace and pool that stretches the length of the property, this villa is ideal for indooroutdoor living. The property enjoys beautiful views of the Pacific Ocean and overlooks an ultra-private beach which is less than a 5 minute walk away. With a separate 3 bedroom guest house located on the grounds, this fully furnished home comes with a 17 year tax exoneration. Offered at: US $1,695,000 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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PRIME PROPERT Y RESIDENTIAL

Isle of Enchantment — Puerto Rico Estate Homes Dorado A selection of estate homes for sale in a gated enclave of an iconic golf and beach resort on Puerto Rico’s northern shore. The homes are situated in a gated enclave on the magnificent grounds of a former Rockefeller property. Estate homes come in a range of floor plans, ranging from 5,100 to 8,000 sq ft and include features such as cathedral ceilings, floor-to-ceiling windows, travertine floors, wooden cabinetry and deep terraces. Owners enjoy access to the resort’s amenities, including the beach club, spa, restaurants and 4 legendary golf courses running through lush jungle and oceanfront coconut groves against a backdrop of spectacular mountains. Offered at: US $5,700,000 - $8,500,000 Puerto Rico The (Latin) American Dream The archipelago of Puerto Rico, including Mona, Vieques, and Culebra is beautiful and diverse, varying from lush rainforest and waterfalls to sandy, sun kissed beaches. A melting pot of American, Latin and Caribbean traditions, Puerto Rico attracts millions of tourists each year. The real estate sector has been stimulated by a range of tax incentives introduced in 2012 to lure high net worth individuals, including exemption from Puerto Rico tax on income, interest and capital gains. 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 it takes to complete the acquisition. 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 3 Bed Home with 1 Bed Casita Caribe Point Nestled on approximately 1 acre of lush, tropical grounds, this waterfront property comprises a main home and separate guesthouse with sparkling pool overlooking a beautiful bay. The main house includes 3 air conditioned bedrooms with en suite bathrooms, a large open plan kitchen-living-dining room. Built on stilts over the clear water the 1 bedroom guesthouse is ideal for fishing or lazing around in the sun. With reefs and mangroves just minutes away, the location is ideal for a private home, guest house, dive shop, or boat operation. Fully furnished, the property comes complete with a boat, deep water dock, boat ramp/dry dock and a host of appliances. Offered at: US $650,000 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 lush forests, beaches and 34 miles of coral reef. Although still laid back, low key and undeveloped, Roatán’s tourism and cruise ship 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?  Property prices generally lower than many other

locations in the Caribbean.

 Direct beachfront homes and land available.  Rapidly developing tourism sector with world class

scuba diving and championship golf course.

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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Jewel of the French West Indies — St Barth 4 Bedroom Luxury Residence Grand Cul de Sac Considered one of the finest villas in the world, this is the only luxury private residence in St Barth with direct access to five-star resort amenities, concierge services and professional property management, all of which are provided by a world-renowned hotel. With a sprawling 7,500 sq ft of beautifully designed living space, this residence offers complete privacy in each of its 3 master suites. Comfortably accommodating 8 or more, it has a library that also converts to a king suite with private bath. An open plan living room, dining room and kitchen opens directly on to a terrace and private pool which overlooks the beach and sea. Offered at: US $9,750,000 St Barth Gallic Glamour In its mere 8 square miles, tiny St Barthélemy manages to exude a distinct Frenchness, from the glamour of the main town and capital Gustavia, with its designer boutiques and restaurants, to the Gallic charm of red roofed cottages. The island’s 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 Barth?  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 Barth, 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 Converted Historical Sugar Mill Gingerland, Nevis This former colonial sugar mill in the southeast of Nevis has been converted into a beautiful private home. Set on 1.75 acre grounds, the mill includes 3 bedrooms, 3 bathrooms, indoor and outdoor dining areas and a dramatic wraparound terrace with sweeping views of the Atlantic Ocean and Mount Nevis. A swimming pool and pool-side gazebo are set in landscaped gardens with historical architectural ruins to explore. With such character and history, the property has a strong rental history. Offered at: US $1,925,000 St Kitts & Nevis Fertile Ground Covered by spectacular rainforests, mountains, waterfalls and rivers which lead down to beautiful beaches and pristine coral reefs, the Federation of St Kitts & Nevis is ideal for exploration, above and below water. Add to this golf clubs, colonial fortresses and plantations, varied dining options, hospitable people, a highly regarded economic citizenship programme and an attractive tax regime and it’s clear why the island has 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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PRO MOT IO N ST K IT T S & N E V I S

A Perfect Getaway With an infinity pool perfectly positioned to enjoy sea and sunset views, jaw-droppingly impressive interiors and even a state of the art home theatre, no expense has been spared in creating Sea For Miles, the ultimate luxury home in Sundance Ridge Estate, St Kitts

This premier residence is majestically positioned on a cliff side overlooking the Caribbean Sea and offers spectacular, uninterrupted, panoramic views of the dramatic coastline, sea and sunsets. Located within a private gated community on the Southeast Peninsula of St Kitts, this 15,000 sq ft luxury home is finished to the highest standard and is truly magnificent. The centrally air conditioned property is superbly appointed with luxury fixtures and furnishings selected for comfort and relaxation. There are five spacious bedrooms, three with en suite bathrooms. The master suite features a unique, translucent art glass wall, the stunning focal point of this room. There is a large double vanity area, separate powder, sauna and dressing rooms. A retreat lounge, prior to entering the master suite, opens onto a private garden and is superb for reading or catching up on desk work. The property has been custom designed to offer uncompromising luxury and is automated by a Crestron control system for lighting, security, shutters, central air-conditioning, audio-visual and intercom systems. Exquisite hardwood

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timber and marble floors are used throughout and high vaulted ceilings are featured. Each room boasts striking views. There is a gourmet kitchen with butlerâ&#x20AC;&#x2122;s pantry, wine room/library, home theater to THX standard, family room, study, gym/ fitness room, separate games room, laundry, wet room and separate staff quarters. Take in the many sites of the island in the villaâ&#x20AC;&#x2122;s luxury chauffeur driven Toyota Land Cruiser, explore the rugged rainforest terrain on the Can Am Bombardier ATV and cruise the coastline in the Seadoo jet boat or on the jet ski. Kayaks are available for those who feel energetic and want to stay fit. This magnificent property has more than ample room for entertaining and allows you the pleasure of enjoying your guests and indulging them in what this spectacular property has to offer. Designed for open plan living, dining and entertaining, the property features an expansive covered outdoor dining terrace and lounge areas which open on to an 80 ft infinity swimming pool and Jacuzzi deck with breath taking views. Whether dining al fresco, sipping cocktails at sunset or simply star gazingâ&#x20AC;Ś. Paradise is found!

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

Property Features — Size 15,000 sq ft — 5 bedrooms – all with safes — Separate self-contained staff quarters with independent entrance — Central AC — Outdoor dining and expansive patio lounge with sectional seating, sun lounges and umbrellas — 80 ft heated, infinity edge pool with unobstructed views — Outdoor hot tub/Jacuzzi — Games Room – Separate room complete with tournament sized snooker, air hockey and table tennis tables, pinball machine, 65" plasma screen and Bang & Olufsen sound system — Wine Bar/library – fully equipped with champagne/wine coolers, built-in dishwasher, microwave, ice machine and cooler drawers. Features wall to wall shelving unit with an extensive range of books and board games. Leather lounge, armchairs and games table with chairs — Study – wall to wall book shelving, executive desk and leather lounge seating — Family lounge with Xbox, Wii, PS3 and children’s activity area with sectional seating and an area for desk work — THX standard 3D Home Theatre with seating for 9 — Fully equipped gym, including commercial grade LifeFitness treadmill, stepper, elliptical cross-trainer and upright bike, plus free weights — Children’s outdoor playground — Wet room with vanity and shower area — Mezzanine – storage area — Tool, electrical and pool pump rooms

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PRIME PROPERT Y RESIDENTIAL

Lushness & Luxury — St Lucia Spacious Sea View Villas Vieux Fort A selection of 3 bedroom homes for sale in a private villa development with breath-taking views of the sea. Villas have been designed to incorporate spacious indoor and outdoor living areas, private pools, European kitchens and roof decks – ideal for cocktails at sunset. The villas are located in a boutique development just 5 minutes’ drive from a spectacular beach, the facilities of the town of Vieux Fort and the international airport in a setting which offers magical seclusion and privacy. An optional rental and management programme is available to provide rental income and ensure your home is looked after even when you are away. Offered at: US $800,000 St Lucia Soaring Beauty From the iconic twin peaks of the Pitons rising from the sea to the lush rain forest covered interior, St Lucia is blessed with dramatic scenery which draws foreign visitors in droves each year. Having been bitterly fought over by the British and the French for nearly 150 years, the island retains a unique blend of cultures. St Lucia today offers superb food, fantastic golf courses, beautiful beaches and world famous annual events, such as the St Lucia Jazz Festival. With a wide range of homes available, demand for property has soared. Buyers are required to cover the cost of stamp duty (2%), legal fees (3-5% of the property price) and an Alien Landholders License (ECD $5,000 to $50,000 depending on the size of the property). 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 Elegant Waterfront Residences Porto Cupecoy A selection of 1 – 4 bedroom condominiums located in a private gated waterfront community, comprised of luxury residences, boutiques and restaurants set around an elegant marina. Redefining resort living with an inspiring style, an unassuming elegance, and a wealth of amenities found no place else, the impeccably appointed residences at Porto Cupecoy include state-of-the-art kitchens, marble bathrooms and ocean, lagoon, mountain or marina views. Residents enjoy access to the various facilities of the community, such as the 54-slip white-glove marina, fitness centre, cafes, shops and an art gallery. Offered at: US $475,000 – $2,200,000 St Martin / St Maarten A Tale of Two Halves Since 1648, this 37 square mile island has been divided between the French and the Dutch. The French side is renowned for luxury property, calm beaches, boutiques and bistros, whilst the Dutch side is known for its cruise port, colonial buildings, casino and nightlife. As the Caribbean’s only completely duty-free island, shopping is a major attraction. On the French side, a property buyer will pay 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. In Dutch St Maarten there are no annual property taxes and no personal capital gains taxes. 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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PROMOTION ST LUCIA

Wild Serenity Perched on a cliff in La Toc, St Lucia, this 6 bedroom villa for sale offers a rare combination of rustic Caribbean luxury, modern amenities and a beautiful seafront setting overlooking a secluded beach

Hugging the top of a cliff in St Luciaâ&#x20AC;&#x2122;s historical La Toc and surrounded by lush, tropical greenery, this luxury private villa offers dramatic views of an untamed beach and the Caribbean Sea â&#x20AC;&#x201C; a magical setting which gives this one-of-a-kind home its name. The property comprises a main villa with apartment below, plus a separate detached guest cottage situated on just under an acre of landscaped tropical gardens, filled with exotic palms, fruit trees and orchids. The main house includes 3 bedrooms, 3 bathrooms and a spacious open plan living room, dining room and gourmet kitchen designed in an eclectic Caribbean style with rich dark wood interiors. The open plan layout and large, retractable doors and windows which open on to a veranda running the full length of the villa allow the tropical breeze in and provide an almost Zen-like flow. The veranda leads to a dark stone infinity swimming pool surrounded by a wooden pool deck, which is ideal for relaxing in the sunshine or sipping cocktails as the sun sets. The pool area overlooks a secluded sandy beach below. With a reef lying just offshore, the waters are perfect for swimming, snorkelling and splashing around.

Below the main house there is a 1 bedroom apartment, which is open, airy and private. Extremely well equipped, it is also air conditioned. There is a large veranda overlooking the garden with views of the sea, perfect for mid-morning tea or a midafternoon cocktail. In addition there is a separate guest cottage which includes a further 2 bedrooms, ideal for when family or friends come to stay. The property comes complete with a host of modern amenities to ensure complete comfort, including Wi-fi, Cable TV, air conditioning, ceiling fans and a gourmet kitchen fully equipped with top of the line dishes, cooking utensils, induction stove and stainless steel appliances. Offered at: US $1,500,000 For details on this property, contact Xavier Ribot: (758) 720 5672 www.wildserenityvilla.com xavier@candw.lc

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The TheCaribbean CaribbeanProperty PropertyInvestor, Investor,Issue Issue44 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Golden Opportunity — St Vincent & the Grenadines 5 Bedroom Hillside Home Bequia A 5 bedroom luxury hillside home located footsteps from a magnificent white sand beach in a boutique beachfront development of just thirty-nine 1 to 5 bedroom homes and beach cottages on the island of Bequia in the Grenadines. Designed in a contemporary West Indian style with large windows and doors and high ceilings, the property enjoys views North to St Vincent and South to Mustique and Canouan, which are simply spectacular. A large, open living space at the heart of the first level includes a fully fitted bar and bespoke glass doors opening on to an infinity edge pool with beautiful sea views. Offered at: US $5,500,000 St Vincent & the Grenadines Dive In This chain of 32 islands is unspoilt and untouched by mass tourism. Their beauty, privacy and authenticity of St Vincent and the Grenadines (SVG) have attracted the rich and famous for decades, notably Bob Dylan, Princess Margaret and Mick Jagger. Whilst St Vincent is well known for its green landscape, waterfalls and volcanic black sands, the beaches of the Grenadines are platinum white and the azure blue sea offers some of the best diving and sailing in the Caribbean. Moreover, the islands offer political stability and a low level of crime. Non-nationals require an Alien Land Holding License, which costs from EC $10,000 to $105,000, varying according to the value of the property. 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 country is a melting pot of cultures. Originally inhabited by Arawak and Carib peoples, large communities of Europeans, Africans, Chinese and Indians have since 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 are restricted to buying property in certain designated areas and require an Alien Landholder License. Why Buy in Trinidad & Tobago?  Sophisticated infrastructure and developed economy,

thanks to heavy industry and oil and natural gas reserves.

 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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PRIME PROPERT Y RESIDENTIAL

Postcard Perfect — Turks & Caicos 6 Bedroom Beachfront Home Providenciales Set on a 2 acre lot with 135 ft of deep beachfront, this 6 bedroom luxurious home enjoys beautiful views of the turquoise sea. The property includes a large dining room and living room, kitchen, office and 4 spacious bedrooms with en-suite bathrooms and private patios. There is a separate guest suite over a 2 car garage, also with superb views of the north shore. Outside, the sun-drenched courtyard, pool and hot tub are ideal for relaxing on lazy days, while a private boat dock is perfect for when you want to get away. Offered at: US $4,200,000 Turks & Caicos True Blue Comprising 40 islands and cays with 230 miles of pristine white sand beaches, crystal clear waters and beautiful coral reefs, the Turks & Caicos Islands (TCI) is home to a population of 37,000, including a large expat community drawn to the stunning landscape and the equally attractive tax environment. With direct flights to the USA, Canada and Europe, this British Overseas Territory is renowned as a luxury destination with a high quality restaurants, hotels and sailing facilities. Property offers high rental income generating potential and non-residents, who can purchase absolute freehold title, may be eligible for a Permanent 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 2 & 3 Bedroom Hillside Villas Cruz Bay A selection of villas for sale in a 5 acre Italian-inspired luxury community on St John, US Virgin Islands, tucked in the hills overlooking a beautiful bay. 2 units are available for sale, including a 2 bedroom / 2 bathroom (2,595 sq ft) unit and a 3 bedroom / 3.5 bathroom (2,584 sq ft) unit. Both villas enjoy unobstructed views of the sea and neighbouring islands. Homes include gourmet kitchens and luxury finishes throughout, such as natural cypress wood ceilings, spacious mahogany walk-in closets and travertine tile walk-in showers. Residents also benefit from access to the clubhouse, which overlooks the bay. Offered at: From US $950,000 US Virgin Islands American Archipelago The US Virgin Islands consists of the four main islands of St Thomas, St John, St Croix and Water Island and many smaller islands. Each island has a unique character. St Croix’s historic towns, Frederiksted and Christiansted, offer quaint shops and buildings against a backdrop of tropical rainforest. Two-thirds of St John is a pristine national park and includes some of the world's most beautiful beaches such as Trunk Bay, Cinnamon Bay and Salt Pond Bay. St Thomas is famous for its beautiful harbour area which offers fine dining, shopping and nightlife. Why Buy in the US Virgin Islands?  Strong tourism industry (nearly 2 million tourists per year)

providing rental income generating potential, as well as varied shopping, dining and entertainment facilities.

 A territory of the USA – 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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outdoor furniture

SHOWROOMS KETTAL LONDON: 567 Kings Road. London SW6 2 EB. T. (44) 20 7371 5170. MIAMI: 147 Miracle Mile. Coral Gables, Florida. T. (1) 786 552 90 22. PARIS: 80, Blvd Malesherbes. T. (33) 01 43 59 51 44. CANNES: 98, Blvd. Carnot. 06110 Le Cannet. T. (33) 04 93 45 66 18. MILANO: Spazio S. Marco, Via San Marco, 38. T. (39) 02 65560728. MARBELLA: Ctra C谩diz. Km 179. T. (34) 952 77 89 89. BARCELONA: Arag贸n 316. T. (34) 93 488 10 80. The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com HEAD OFFICE KETTAL / CONTRACT: Arag贸n 316. 08009 Barcelona. Spain. T. (34) 93 487 90 90.

www.kettal.com

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PRIME PROPERT Y COMMERCIAL

Indian Investment in the Caribbean Developing stronger economic links is a major opportunity for Caribbean nations, argues the Chief of the International Trade and Integration Division at the Economic Commission for Latin America and the Caribbean (ECLAC) O S VA LD O RO S A LE S

With a population of 1.2 billion people and the tenth largest economy in the world, India today is one of the world’s economic powerhouses and its economy has accounted for almost 10% of recent global economic growth. In the near future, the South Asian giant is expected to continue its rapid rise. The population is expected to surpass China to become the world’s largest by 2030. In economic terms, India is expected to become the world ’s fifth largest consumer economy by 2025 and, with rapid growth in its middle class, household incomes are expected to triple over the next 20 years. As a result, India, much like China, has become a major importer and consumer of various kinds of natural resources and primary products. However, although Latin America and the Caribbean exports products such as natural gas (from Trinidad & Tobago) and cocoa (from the Dominican Republic) to India, the region currently has less than a 4% share of India’s total imports. The story for outward foreign direct investment (FDI) is similar. India has emerged as a significant investor worldwide, with outward FDI amounting to $17 billion (USD) between 2008 and 2010. However, Latin America and the Caribbean received just about 4% of the total. Of this relatively small amount, 70% was directed at the British Virgin Islands and the Cay-

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man Islands – primarily financial transactions. Without a doubt, India has been under-exploited by the Caribbean in the global economic race. The resource-rich exporting nations of the Caribbean should look to develop closer partnerships with Indian firms that would provide access to the Indian market and to sophisticated technology. Caribbean countries should look to follow the lead of Mexico, which has successfully wooed Indian multinationals such as Tata Consultancy Services, Wipro and Aptech, all of which have established operations in the country. F inally, for the tourism and real estate-dependent nations of the Caribbean, the growing number of Indian middle class consumers, high net worth individuals and private sector investors with deep pockets are an untapped economic opportunity. According to The Economic Times, the number of Indians travelling overseas is predicted to increase from 15 million to 50 million by 2020, making India the world’s fastest-growing outbound tourism market and the second biggest spender on overseas travel after China. With a large Indian diaspora spread across the region, Caribbean countries are in an ideal position to exploit historical and cultural links and the opportunity India represents to the Caribbean should no longer be overlooked.

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PRIME PROPERT Y COMMERCIAL

Road to Recovery Having been outperformed by their commodity-exporting neighbours, the tourism-dependent group of Caribbean nations is expected to catch up somewhat by riding the coattails of advanced economies. Scotiabank Economist Daniela Blancas forecasts a (gradually) improving outlook ahead DA N I EL A B L A N C A S

Average Annual GDP Growth Rate 2007-2012 1.5% Commodity Exporters

1.2%

0.8% 2% 0.4%

Commodity Exporters 2%

Tourism-based Economies

0.0% -0.4%

Tourism-based -0.3% Economies

While countries across the Caribbean share many key economic drivers, there are significant structural differences that go some way to explaining the divergence in growth outlooks, debt sustainability and investor perceptions. The International Monetary Fund (IMF) divides the Caribbean region into two major groups based on their main economic activity. There are the tourism-dependent economies including The Bahamas, Barbados, Jamaica and the members of the Eastern Caribbean Currency Union; and then there are the commodityexporters which include Trinidad & Tobago, Guyana, Belize and Suriname. The Dominican Republic – the biggest economy in the region – falls between the two and is therefore grouped with Central American countries due to the size of its GDP and other similarities. Over the last five years the tourism-dependent

0.0%

Source: World Economic Outlook October 2013, International Monetary Fund, Scotiabank Economics

1.6%

Average Annual GDP Growth Rate 2013-2017 (f )

economies have been underperforming the exportintensive nations. While the exporting countries’ real GDP expanded by 1.5% annually on average between 2007 and 2012 – benefitting from solid export revenues, reduced external vulnerabilities and healthy fiscal frameworks – the output of the tourism-intensive economies contracted on average by 0.3% per year during the same period. This was the result of low consumer confidence and unfavourable labour market dynamics in the US and other major economic partners that translated into lower tourism receipts and remittances to the Caribbean. Nevertheless, the US housing sector is picking up and labour market conditions are improving, which, coupled with the economic recovery building in other advanced economies, will have a positive knock on effect on Caribbean economic performance.

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Source: Scotiabank Economics

GDP Growth Rate 2013-2014 (f )

Panama 7.3%

Jamaica -0.4%

Barbados 1.0%

Trinidad & Tobago 1.9%

Bahamas 2.1%

The divergence in growth between the two regional groups is expected to continue over the coming five years. While the tourism-dependent countries will likely expand by around 2% annually, the exporting nations will once again outperform them, expanding by close to 3%. Public sector indebtedness in the region remains of high concern. In the last five years, general government gross debt as a percentage of GDP increased by 6 percentage points on average in Central America and the Caribbean. The debt-to-GDP ratio in the tourismdependent countries increased from 76% in 2007 to close to 90% in 2012 on average, significantly higher than in the commodity-exporting countries, where the ratio expanded by only 4 percentage points. The region maintains a lower level of indebtedness when compared with most advanced economies.

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Dominican Republic 3.0%

Costa Rica 3.6%

However, it is not immune to economic distress from sovereign debt restructuring, as has been evident in Jamaica, Belize and Grenada over the past few years. With global financial market attention continuing to centre on fiscal sustainability issues, credible fiscal consolidation remains imperative to restoring investor confidence across the region. Within an environment of rapidly changing risk appetite, the possibility of governments facing difficulties in rolling over external debt obligations remains latent. Considerable current account deficits, high public debt, elevated dependency on tourism and/or commodities, fixed currency regimes and low monetary policy effectiveness will remain of primary importance to the regionâ&#x20AC;&#x2122;s policymakers. Nevertheless, looking ahead, the Caribbean outlook will continue to improve as a result of the ongoing recovery in advanced economies.

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PRIME PROPERT Y COMMERCIAL

Private Wonderland — British Virgin Islands: 258 Acre Private Island Situated south-east of Tortola and Beef Island, between Virgin Gorda to the north-east and Cooper Island to the south-west, this 258 acre island is one of the only remaining undeveloped islands in the British Virgin Islands. Although completely uninhabited, the large heartshaped bay on the southern side of the island is prized for the privacy provided by the steep cliffs along the shoreline by experienced sailors who visit to escape the world and enjoy the magical views of the Caribbean Sea, the Sir Francis Drake Channel and up to fifteen neighbouring islands. With several popular dive spots teeming with colourful marine life located just off shore (including “Alice in Wonderland” to the south and “Alice’s Back Door” to the north), the underwater world offers equally enchanting views and is ideal for diving or snorkelling. The island represents a very rare development opportunity with enormous potential that could benefit from the already well-established track record of the British Virgin Islands. With a laid back barefoot chic lifestyle ideal for beach, yacht and diving lovers, the

British Virgin Islands has developed an enviable reputation as the ultimate hideaway for the discerning travel connoisseur. Nearby Peter Island, Necker Island and Guana Island, for example, all count among the world’s most exclusive private island resorts, regularly hosting celebrity guests. The archipelago is also renowned as one of the Caribbean’s most desirable real estate investment locations, key advantages including no income or capital gains tax and a very high standard of living. Underwater dredging and blasting would be required to ease access to the bay on the south side of the island and enable an increase in boat traffic and, with airport and ferry connections close by and privacy “built in”, this private island is ideal for developing a boutique resort of a similar calibre to those located nearby. For details on this private island for sale, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

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Tranquil Getaway â&#x20AC;&#x201D; Dominica: Award-Winning Boutique Hotel Located in Marigot on the northeastern 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 of 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 a 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

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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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PRIME PROPERT Y COMMERCIAL

Emerald Investment — Montserrat: 13 Acres of Seafront Land, Woodlands Set against a backdrop of verdant green mountains, this 13.1 acre parcel of land located in Woodlands occupies one of the last remaining seafront locations on the central-western coast of Montserrat, the “Emerald Isle of the Caribbean”. The main part of the land was originally comprised of 21 separate lots which were combined in the early 1970’s into 1 single parcel, which rises from a small beach in the south-western corner to an altitude of 190 feet above sea level. The land enjoys 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 Wood-

lands 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. 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. With a new capital town and port planned to be built in the north of the island, Montserrat is considered by many to be one of the region’s most exciting emerging investment locations. 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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Sound Investment — Turks & Caicos: Boutique Villa Resort & Waterfront Restaurant Located on a 5.80 acre site in Chalk Sound, Providenciales, this boutique resort comprises a popular waterfront restaurant, bar, pool, private beaches and a collection of eleven fully furnished vacation villas with exquisite views of Chalk Sound National Park. Built in 2006, the well-established 2,525 sq ft restaurant and poolside bar is one of the most popular venues in Providenciales. There is seating for 120 people, plus a gazebo with cooling tropical “brisas.” The open air dining room overlooks the beautiful Chalk Sound – a spectacularly beautiful turquoise blue lagoon dotted with 375 uninhabited rocky islands. With 2 coveted private beaches (575 ft of beachfront on the north and 500 ft of beachfront on the west) and an expansive 20 x 40 pool plus pavilion, the property includes various tranquil spots for guests to sip cocktails and nibble on snacks whilst sunbathing or stargazing. Built in 1987, the villas are nestled in lush landscaping and elevated to make the most of the spectacular water views. There are ten 1,200 sq ft 2 bedroom / 2 bathroom villas plus one 1,500 sq ft 3 bedroom / 3 bathroom villa. Designed with high vaulted ceilings

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and tastefully furnished, each air conditioned villa includes a fully equipped kitchen, living/dining room and private balcony. Also included in the purchase price is a boat rental business, fully equipped with 4 double kayaks, 2 single kayaks, 4 paddle boats, 4 canoes and a 25' pontoon boat with a 125 hp Mercury Cruiser. With its shallow, crystal clear waters filled with tropical marine life, Chalk Sound is considered one of the finest areas for paddling and kayaking. As the only restaurant/resort type property in the Chalk Sound area and views which are simply stunning, this is an extremely rare commercial investment opportunity. Offered at: US $10,000,000 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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PRIME PROPERT Y COMMERCIAL

Room for Growth? As new hotels pop up across Central America and the industry enjoys a recovery in the Caribbean, Paul Thomas, Director of industry advisors Whitebridge Hospitality, provides expert analysis of hotel pipeline and performance data

Nicaragua

440

Aruba Haiti Turks & Caicos

Existing Supply

630

Pipeline*

644 745

Puerto Rico

1,198

Jamaica

1,218

Costa Rica

Source: STR & STR Global

PAU L T H O M A S

1,512

Bahamas

2,800

Dominican Republic

2,837

Panama

3,771 10,000

The Central American hotel market could grow by as much as 11.6% (in rooms supply) over the next few years if all the projects identified within STR Globalâ&#x20AC;&#x2122;s Pipeline database come to fruition. This represents a growth of 6,400 rooms on an existing supply of 55,400 rooms. In comparison, the Caribbean has an active pipeline equivalent to just 6.4% of existing supply (or 11,000 rooms). Much of the growth is to be found in Central American countries such as Panama and Costa Rica, with the pipeline representing as much as 24% of existing stock. With so much new supply entering the market in Panama and demand lagging further and further behind, closure of existing properties is a growing concern. As a consequence, revenue per available room (RevPAR) was down 23% in August 2013 compared to 2012, and 13.5% down YTD. This is far below the Central American average of 3.8% growth YTD.

20,000

30,000

40,000

50,000

The Caribbean in general continues to demonstrate a slower, but solid recovery, with RevPAR recovering from dips in 2008 and 2009. YTD RevPAR performance for the region is up by 8.3%, considerably higher than operations in Central America. Puerto Rico, for example, is managing its growth effectively by attracting investment at a pace in tune with market demand. San Juan remains a hotbed of activity with a new 264-key Crowne Plaza and a 126-key Hyatt House (the first of its kind in this region) opening later in 2014, while at the top-end, a new Four Seasons Resort is earmarked for Cayo Largo for 2016. The territoryâ&#x20AC;&#x2122;s hotel market continues to show solid growth with RevPAR up by 10% YTD. In terms of new supply growth, the Dominican Republic and the Bahamas lead the way, both with over 2,800 new hotel rooms in the pipeline. Baha Mar in the Bahamas is clearly a major driver of this new

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

60,000

70,000

growth with over 2,200 rooms scheduled for completion by March 2015. High-end operator appetite continues to dominate the Caribbean with brands such as Rosewood and Grand Hyatt (in the Bahamas), Six Senses and Sheraton (in the Dominican Republic) and Ritz Carlton (in Aruba), all scheduled to open over the next 2-3 years. Mid-market operators are gaining traction in some markets such as Haiti and Nicaragua, but investor appetite remains strongest in the luxury segment. Despite risks of over-supply in key countries within both the Caribbean and Central America, the prospects r main positive as a whole for new investment opportunities. Value can still be had in stalled development projects in the Caribbean, and the rapid expansion of the middle class population in Central America will fuel further demand in both the mid-market and upscale hotel segments.

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Discover the Caribbean island that lifts all your senses

Saint Lucia is the beautiful Caribbean island that has it all and more. Home to the magical Piton Mountains, unspoilt rainforest, sun-soaked beaches, a world-class choice of accommodation, delicious dining and a whole range of unique and thrilling activities for everyone to enjoy. Treat yourself to this simply sensational island today. Call 020 7341 7005 or email sltbinfo@stluciauk.org to find out more. www.stlucia.org

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PRIME PROPERT Y COMMERCIAL

Quality not Quantity As global superyacht demand rises and new marinas catering to larger vessels open across the Caribbean, UK-based specialist Marina Projects Ltd shares some insight into the regionâ&#x20AC;&#x2122;s evolving market M I K E WA R D

With good international air links, fantastic cruising grounds and good availability of facilities and services, locations such as St Maarten, St Barth and Antigua have traditionally been some of the most popular superyacht cruising destinations in the Caribbean. However, in recent years, new destinations have begun to emerge as regional rivals. Port Louis Marina on Grenada, for example, provides a fully serviced superyacht marina which is an ideal gateway to the unspoilt islands, reefs and cays of the Grenadines. On St Lucia, the fully serviced Rodney Bay Marina recently completed the installation of approximately 30 superyacht berths for vessels up to 80 metres. However, these locations still have some catching up to do in terms of attracting superyachts from their more established competitors in the north. Traditionally popular destinations in the northern Caribbean have certainly not been standing still either. For example, the opening of Yacht Club Costa Smeralda Virgin Gorda in the British Virgin Islands (a new, modest yet state-of-the-art marina with 38 slips for vessels up to 88 metres) has enhanced the existing reputation of the archipelago to superyachts as a proven and developed marine leisure market. Given the steady increase in the number of yachts being built, it is safe to predict that the superyacht fleet will continue to grow for years to come. The demand for berths and support services will also continue to rise. It is important for marina owners and operators to provide for the increasing demand in 30-metre plus space and to understand the requirements of yacht owners and crews who are not just looking for a location to berth but buying into the lifestyle and experience a destination marina can offer.

It is anticipated that there could be as many as 3,000 new yachts over 30 metres by 2030 Although the Caribbean is a vibrant superyacht hub, average berth prices remain b low Mediterranean levels. The pressure in popular areas is likely to drive the development of new facilities. The Caribbean currently offers around 70 marinas with superyacht facilities (compared to 200 in the Mediterranean). In popular cruising areas, the demand for berthing larger vessels significantly outweighs supply, with nearly 50% more boats than berths in the 100 â&#x20AC;&#x201C; 150m bracket, so there is still great development potential, particularly for marinas catering to this market. Yacht Club Costa Smeralda, Virgin Gorda

The Caribbean Property Investor, Issue 4 | 7thHeavenProperties.com

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