We first started promoting, ‘A Better Lifestyle In The Republic Of Vanuatu’ in February 2012 to Escape from America Magazine and Escape Artist readers. The editorial started with: 10 things you should know about Vanuatu: living, schooling, business, banking,education,relocation etc. etc. This editorial can be found under a search of “Vanuatu” on the Escape Artist website. As I write this update, the main thing I wish to confirm to interested individuals is in regards to relocating, retiring, residing and investing in Vanuatu.
The developmentIn Vanuatu that I foretold in Febuary 2012 has in fact happened. While the established Western world is in turmoil, Vanuatu, an emerging nation just north of Fiji and a short 2 hour flight from Australia, is flourishing. The Republic of Vanuatu was accepted as a member of The World Trade Organisation in January 2012, the official acceptance was completed in July of 2012.
It is still not too late for you to prosper from investing in this South Pacific island paradise, which also is a tax friendly country, with no personal or corporate tax, no death duties, and no land tax. There is a VAT tax at 12.5%.
Bonus: when you buy an investment or residential property in Vanuatu, you can apply for residency in the Republic of Vanuatu.
One most remarkable tourism changes in the last few years has been brought on by Carnival Cruise Line and the P&O Cruise Line. There are now over 200 cruise ships visiting Port Villa Efate Island, which is the main island.That’s almost a cruise ship every day and a half. Each cruise ship has between 1,400 to 2,500 tourist passengers on board, who spend an average of just under $300 per person per trip. This is a remarkable financial injection into the small community of Port Vila, which has a population of approximately 38,000. You can imagine the changes that this financial injection is bringing to Port Vila and the opportunities that this amazing tourism boom is bringing to those who seize the day.P & O Cruise Lines state that within a few short years, over a million day visitors will visit the Republic of Vanuatu per year from around the world. In January of 2008, when I first visited Vanuatu, the number of tourists visiting Vanuatu annually was around 75,000 total. The cruise boat came into Vanuatu once a fortnight. It was such a big event that the local paper used to wrap the front page with ‘ What to do and see in Vanuatu for the Day.’ Now, in 2013, there are tour guides on the cruise ships, which pre-sell tours to restaurants, golf excursions, fishing trips, dive and boating trips, and scenic tours. The native locals known as ‘ni-vans’ now own small minivans which are used as taxi buses.
The road down to where the ships currently anchor at the main wharf has small stalls selling locally made handicraft, sarongs, sunglasses, dugout canoes models and handmade jewelry, etc. The stall owners who were used to working for a $1.70 per hour, can now sell something to a tourist for $10 or $20. You can imagine, if you own a stall on the roadside, you are considered very fortunate when the cruise ships and tourists arrive into port.
Although still to be confirmed, there is talk of a new 350 million dollar international airport. The Australian Government just confirmed a grant for AU$39 million, which willbe used to upgrade the roads in Port Vila, after a $100 million grant from America called the Millennium Project just sealed and upgraded the 120 kilometer road which goes around the island. The project was completed in 2012 and today is a fantastic scenic drive. It takes about 1.5 hours and drives past and thru rain forest, beaches, cattle stations, coconut plantations, crystal clear streams, and many interesting villages where you are waved at by the friendly locals. You are welcomed to enjoy their fruit and vegetables for sale at the road side stalls. The children of the Village Families laugh and wave with smiles from ear to ear, as this is the land of smiles.
This is all great for tourism, which is the main income earner for The Republic of Vanuatu,responsible for approximately 75% of their GDP. The balance of the GDP is made up of timber, cattle, seafood, coconuts, and exports. The World Trade Organization and the International Monetary Fund expect 4% increases in GDP per annum for 2014 and beyond.
But there is a problem! The Republic of Vanuatu does not have sufficient high-class accommodation for international travelers. In 2012, there were less than 400 hotel rooms with 3.5 or above star rating for tourists, and in all of Vanuatu there were only approximately 2,000 total rooms.This brings us to the ‘supply and demand factor’, which is the main factor in the increase of investments, and of course a real driver of real estate prices.
Boutique Resorts are rapidly expanding in Vanuatu now, so if you want to come to Vanuatu at the same time as the Australian and New Zealand Christmas, Easter and school holidays, you may have to book your holiday well in advance. If you don’t book your holiday to Vanuatu three months before, you take the risk of being turned away because it is booked solid (both flights and accommodation) during the peak holiday seasons.
In May 2012, I was appointed Trade Commissioner for the Republic of Vanuatu to Queensland, Australia. The appointment was provided by the then Minister for Tourism and Deputy Prime Minister to assist in promoting to international purchasers,corporations, bankers and other Governments to invest in this Pacific paradise. My job is to assist tourism and infrastructure investment.
So currently I am promoting a tourism development called Pacific Haven Resort and The Bungalow Residences, which is just 13 minute drive from downtown CBD. Pacific Haven Resort is a unique waterfront development which fronts Teouma Bay,an untouched ocean wonderland 2 kms wide by 3 kms long, ideal for swimming, fishing and other water sports. We are currently constructing both one bedroom and two-story, three-bedroom bungalows on 450 m² lots, configured into a triplex or three-keyed tourism rental opportunity.
The first stage has eight bungalows. The second stage, which should be released within a month, will have the restaurant, pool and eight more one-bedroom bungalows and three-bedroom homes. Investment returns are projected from 6.7% to 17.1%, and you and your family can holiday in your investment for 30 days a year without accommodation cost.
Application for Residency with purchase available
Off plan price list starts at AU$299k for the one bedroom bungalow, the rental return at AU $ 275.00 per night. The 3 bedroom bungalows start at AU$399k for waterside to AU$630k for the absolute waterfront position with an advantageous stunning view, returning up to AU$ 800.00 per night to a projected $1350 per night inpeak holiday seasons.
Vanuatu Boutique Resorts currently are reporting 80% occupancy across the board per annum and are fully managed for investment clients 24/7 with 24hr, 7 day per week security. The international travel holiday marketers are demanding more boutique resorts, and we intend to provide them with a wonderful option.
This absolute waterfront project, Pacific Haven Resort, is well-placed for the impending boom in this emerging world tourism market. It’s time for you to seize your piece of paradise.
So it now it’s up to you to contact me for further details. Free inspection plan for Buyers (flight and accommodation included, conditions do apply, of course.) Fly to this Pacific Paradise next week, see the Investment Opportunity, book your Inspection Flight Today! Contact Richard Butler, trade commissionaire for the Republic of Vanuatu and resort project manager, for a detailed chat call.cell phone +61 417007792 or e-mail Richard@pacifichavenresort.com