The Caribbean Property Investor Issue 3 by 7th Heaven Properties

Money Emerging Hot Spots

Life & Style Caribbean Cuisine, Couture & Contemporary Art

Prime Property Exclusive Homes & Commercial Investments

The Caribbean THE DEFINITIVE GUIDE TO PRIME PROPERTY & LUXURY LIFESTYLE

A NTI GUA: C O LO MBI AN E M E R A L D S IN T E R N AT IO N A L • B A H A M A S : C O L O M B I A N E M E R A L D S I N T E R N AT I O N A L • B A R B A D O S : C O L O M B I A N E ME RALDS I NTERN AT I O N AL • C AY M A N ISL A N D S: K IR K F R E E P O RT • C U R AC AO : C O L O M B I A N E M E R A L D S I N T E R N AT I O N A L • J A M A I C A : C O L O M B I A N E ME RALDS ST. L U C IA : C O L O M B IA N E M E R A L D S I N T E R N AT I O N A L • S T. M A A RT E N : L I T T L E E U RO P E F O R F U RT H E R IN F O R M AT IO N P L E A SE C A L L DA M I A N I U S A + 1 - 2 1 2 - 7 6 0 - 2 7 9 0 – W W W. DA M I A N I . C O M

THE BELLE EPOQUE COLLECTION

DA M I A N I . C O M

CONTENTS

IN BRIEF

MONEY

LIFE & STYLE

13 NOW Caribbean property market news and trends

41 Special Feature: New Frontiers An in-depth look at emerging investment locations: Montserrat, Cuba and Haiti

55 Building Your Dream Home Experts in architecture, construction and interior design reveal their tips

18 Small but Perfectly Formed Escape to a private island resort

26 Luxury for Hire Our selection of spectacular villas to rent 34 Havana Gold Gems of Cuban architecture

46 The Antigua Advantage PKB Privatbank General Manager Michele Delco on private banking

48 Barbados Rolls Out the Red Carpet PwC’s Louisa Lewis-Ward on new tax incentives for HNWIs 51 Smoother Sailing Tom Greenwood of IFX on saving money when buying overseas

66 Food for Thought Dr Fred Pescatore on healthy eating in the islands 68 New Voices The evolving contemporary Caribbean art scene

74 One Small Step Spotlight on Dominican artist Pauline Marcelle

78 Caribbean Fashion Steps Out Fashionista Romae Gordon on the freshest design talent

84 Smooth as Silk An award-winning rum from St Barth

Team

Founder: Walter Zephirin Editor-in-Chief: Robert Cooper Design and Art Direction: DKW&R Illustration: Toby Morison Photo Retouching: Emily Zarb Advertising: +44 (0)20 8960 1010 Contributors

Judith Baker, Leo Bear, Dr Hilary Becker, Ambassador Dr Richard Bernal, Douglas Clayton, John Cox, Tatiana Flores, Romae Gordon, Zoe Dare Hall, Dr Fred Pescatore Copyright © 2012 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 3 | 7thHeavenProperties.com

CONTENTS

103

PROMOTIONS 53 Legacy of Luxury In conversation with Stan Hartling, developer of The Shore Club 65 Medicine in Paradise A global concierge medical service

93 Exhale… You’re in Grand Bahama The luxury waterfront residences at Suffolk Court

103 Italian Style in the Spice Isle Laluna, Grenada’s Asia inspired boutique hotel and villas 116 A Perfect Pair An oceanfront villa for sale in St Lucia

Cover: Emerald Cay, Turks & Caicos, Courtesy of TCI Brokers

123

RESIDENTIAL

COMMERCIAL

88 89 90 91 94 95 96 97 98 99 100 101 104 105 106 107 108 109 111 112 113 114 115 118 119 120 121

123 Funding Chinese 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 Nicaragua 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

124 Sustainable Development Dr Geoff Seeff on the opportunity for developers

126 Anguilla Oceanfront 5 Villa Luxury Complex 127 Montserrat Investment opportunities in the new capital

128 Trinidad & Tobago Tourism Investment Opportunities 129 Turks & Caicos A boutique resort and beachfront property development 130 Homes of the Future Innovative housing solutions

The Caribbean Property Investor Magazine is published by 7th Heaven Properties Ltd, the Caribbean property specialist: www.7thHeavenProperties.com. We list $8 billion worth of land and property for sale from across the entire region, from the Bahamas in the North to Tobago in the South, as well as the Central American countries with Caribbean coastlines.With an exclusive focus on the Caribbean, our listings include residential and commercial property, both luxury and affordable. We are experts in the Caribbean property 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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Accurate market information and analysis Individual attention from a dedicated consultant Consistent cost savings for our customers For more information contact: Tel +44 (0)20 7495 8888 Fax +44 (0)20 7495 8890 info@internationalfx.com www.internationalfx.com

WELCOME & GUEST CONTRIBUTORS GUEST CONTRIBUTORS Ambassador Dr Richard Bernal

Welcome Welcome to the third issue of The Caribbean Property Investor magazine, the annual guide to prime property and luxury lifestyle in the Caribbean from 7th Heaven Properties. The Caribbean is a large and varied region, including leading offshore financial centres as well as one of the world’s last remaining Socialist planned economies. Despite this diversity, in most locations the Caribbean property market continues to rebound since its low in the aftermath of the global financial crisis. The region is once again attracting buyers from around the world and investment is flowing in to tourism, property and infrastructure projects. Property sales figures are uneven but reveal that the real estate sector in the Caribbean is well on the road to recovery. There are quite a few noteworthy stars. For example, the Turks & Caicos Islands has seen sales rocket by over 70%, in no small part driven by high net worth investors seeking out a slice of (tax-free) heaven. With a highly regarded Citizenship-by-Investment programme tied to real estate (and a similarly attractive tax regime), St Kitts & Nevis has also maintained a very high level of appeal. In locations where prices have fallen, there are certainly bargains to be had before prices rise again. With encouraging visitor numbers, a strong pipeline of new developments and the imminent arrival of new global hotel brands into the Caribbean market, the outlook for the medium and long term is tremendously exciting. For information on any of these investment opportunities, please do not hesitate to contact us. The properties featured in this issue represent just a taster. You can find thousands more stunning properties from the beautiful Caribbean on our website, or call us to discuss any property in detail. Our team of property specialists based in the UK, the USA, Canada and across the Caribbean prides itself on offering a highly personalised service and 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 3 | 7thHeavenProperties.com

Ambassador Dr Bernal, a professional economist with over 35 years of experience, was, until recently, Executive Director for the Caribbean at the Inter-American Development Bank. For 8 years he was chief Trade Negotiator for the Caribbean Community. He was Jamaica’s Ambassador to the United States of America and Permanent Representative to the Organisation of American States (OAS) from 1991 to 2001. Previously he was CEO of a commercial bank and earlier based at the Bank of Jamaica (central bank). Dr Bernal has published one book and over 100 articles in scholarly journals, books, and monographs (some available at richardbernal.net). He has also authored articles in financial periodicals and newspapers, including opinion editorials in the Washington Post and Wall Street Journal. For this issue, Dr Bernal reports on Chinese investment in the Caribbean (page 123). Douglas Clayton Douglas Clayton is the Chief Executive Officer of Leopard Capital, a private equity firm which manages investment funds in often overlooked, pre-emerging economies. With 26 years of experience in frontier markets gained through senior positions in multi-national equities firms, Douglas regularly contributes to investment conferences, financial television programs and print media publications. He is a Trustee of the Center for Khmer Studies and formerly served as Technical Advisor to the Director-General of Cambodia’s Securities & Exchange Commission. Douglas holds an MM from Thailand’s Chulalongkorn University and a BA in History from Cornell University. Utilizing his expertise in frontier markets, he discusses investment opportunities in Haiti as part of our Special Feature on New Horizons (page 42). Dr Hilary Becker Hilary Becker is an Assistant Professor at Carleton University, Canada teaching Corporate Strategy and Accounting. He received his PhD from the University of Havana and has been conducting research and publishing papers on Cuban tourism and the economy for more than 10 years. He has consulted

FROM THE EDITOR & GUEST CONTRIBUTORS on various projects in Cuba including sustainable tourism with the World Wildlife Fund (WWF), Fundación Antonio Núñez Jiménez de la Naturaleza y el Hombre, Ministry of Tourism and has worked with the Centro de Estudios de la Economia Cubana, various universities and Cuban ministries. Also part of our Special Feature on New Horizons, Dr Becker reveals the emerging opportunities and challenges presented by a rapidly reforming Cuba (page 44). Dr Fred Pescatore

From the Editor “Visual surprise is natural in the Caribbean; it comes with the landscape, and faced with its beauty, the sigh of History dissolves.” These words, penned by the Nobel Prize-winning St Lucian poet Sir Derek Walcott, illustrate the spectacular beauty and astonishing diversity of the Caribbean that has attracted shrewd and discerning investors, property buyers and travellers for decades. In this issue we provide you with a taster of this surprising diversity, including a wide range of property investment opportunities. We begin with a roundup of what’s new in the Caribbean property world (page 13). Our Money section leads with a fascinating special feature on three unique Caribbean locations which, while still in the throes of change, are rapidly evolving into new property investment and tourism locations (page 41). In Life & Style, we seek advice on building a dream home in the famously beautiful Caribbean from some of the region’s most renowned architects (page 55), construction specialists (page 59) and interior suppliers (page 63). We also take a look at leading lights in the Caribbean’s contemporary art (page 68) and fashion worlds (page 78) and shine a spotlight on talented individuals who, although relatively undiscovered outside the Caribbean, are set to take the world by storm. Finally, in our Commercial section, we look at the future of financing (page 123) and innovative, sustainable building systems of the future (page 130). Let the Caribbean surprise you. Robert Cooper Editor-in-Chief

Dr Fred Pescatore, MD, is one of the key spokespersons for healthy living. His latest New York Times best-selling books The Hampton’s Diet and The Hampton’s Diet Cookbook emphasize a whole foods approach to health and weight management. He regularly appears on TV shows including Today, The View and AM Canada and is a correspondent for Women’s World, First for Women, In Touch, US weekly and Life & Style magazines. Dr Pescatore is a member of the American College for the Advancement of Medicine, the President of the International and American Association of Clinical Nutritionists and the National Association of Medical Broadcasters. Dr Pescatore has also authored Feed Your Kids Well, Thin for Good, Boost Your Health with Bacteria and The Allergy and Asthma Cure. Dr Pescatore presents his expert opinion on eating well in the islands (page 66). Romae Gordon Romae Gordon is General Manager and Fashion Director of Pulse, producers of Caribbean Fashionweek. She also produces and hosts a number of TV shows including Ready for CFW, and The Caribbean Model Search which are aired throughout the Caribbean and beyond. Gordon also manages the Pulse Model Agency, the Caribbean’s long-standing model talent powerhouse which discovers and develops the region’s supermodels for the international market. For this issue, she reports from the fashion front line on key designers from the Caribbean (page 78).

Romae Gordon image courtesy of Luca Khouri The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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IN BRIEF

NOW PRIVATE ISLANDS VILLAS TO RENT CUBAN ARCHITECTURE

NOW ◊

◊

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

Eastern Wager A new wave of Asian investment flows into the Caribbean What do Antigua & Barbuda’s new cricket stadium and power station, Dominica’s new hospital and sports facility and the new US $35 million stadium in the Bahamas have in common? They have all been funded by the Chinese, who are also injecting US $2.4 billion into a new multi hotel megaresort in the Bahamas, in the form of a 15-year loan from the Export-Import Bank of China. It’s a significant shift in funding in the Ca-

ribbean, said by Tan Jian, the Economic Counsellor at the Chinese Embassy in the Bahamas, to be about one developing country using its growing economic power to help others. The new wave of investment from the East doesn’t stop with China. A Dubai developer is set to build a five-star hotel, costing US $200 million, in St Kitts & Nevis with the aim of attracting investors with the offer of citizenship and tax breaks. The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

IN BRIEF NOW

Islands Reborn Game-changing development projects move up a gear In the 1970s, the island of Montserrat was one of the world’s most glamorous retreats, a place where musicians including The Beatles and Sting, and wealthy villa-owning families sought exotic escape. Its devastation by a volcano in the mid 90s changed the face and fortunes of the island, but now tiny Montserrat is on the turn again as plans to build a new capital at Little Bay and port at Carr’s Bay in the protected north of the island – a Government drive with which 7th Heaven Properties has been closely involved - take shape. With Little Bay as its new commercial, working hub, and a move to rebrand the island as a high-end tourism destination, we could see a return to how Montserrat used to be in its glory days. The Turks & Caicos, too, are seeing a welcome overhaul of their image after their selfgovernment was suspended by the British in 2009, folThe Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

lowing a fraud scandal involving the Premier Michael Misick. Elections in November mark a new era for the islands, including a widespread clean-up of its property industry and political system. One focus for the newlook Turks & Caicos is Middle Caicos, a spectacularly beautiful island of just 250 people, where the proposed Aniyana resort will bring a new level of luxury and rare freehold beachfront properties. For details on residential and commercial investment opportunities in Montserrat and Aniyana, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

Flying High Airport upgrades underway across the region St Vincentâ&#x20AC;&#x2122;s new US $216 million airport has been a long time coming, but the Grenadine island is one step closer to seeing international flights land on its shores as it is announced that work is on schedule and a new date for the opening of Argyle airport is set for early 2014. Airlift is crucial to the economic success of Caribbean islands, with St Lucia and St Kitts among those to see a significant growth in tourism and investors in high-end developments along with the increase in direct international flights. Interna-

tional airports around the region are also benefiting from multi-million dollar upgrades and expansion plans, including Nassau (Bahamas), Providenciales (Turks & Caicos), Suriname and Liberia (Costa Rica) to name but a few. St Kitts will also shortly have its first private jet terminal, targeting high net worth leisure and business travellers, and work has begun on Antiguaâ&#x20AC;&#x2122;s new terminal at VC Bird International, which is being built by the China Civil Engineering Construction Corporation.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

Nevis garden looking over to St Kitts, courtesy of Nevis Tourism Authority

IN BRIEF NOW

Property With Perks Islands lure investors with incentive packages The success of St Kitts & Nevis’s Economic Citizenship Programme – launched in 1984 soon after independence from the UK - is prompting other Caribbean islands to offer similar schemes to tempt overseas property investors. Around 1,000-1,500 individuals are estimated to have obtained St Kitts passports either by investing a minimum of US $400,000 in real estate, or by donating US $250,000 to a Sugar Industry Diversification Fund, with the bulk of investment seen in the last five years. Citizenship is a crucial source of income to the country, with the Economic Citizenship Programme bringing in around US $200 million and 23 developments given Government approval to attract foreign investors, who benefit from visa-free travel to 120 plus countries, residency throughout the Caribbean Community and freeThe Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

dom from direct personal taxation. Antigua has followed suit, matching the required investment levels of the St Kitts & Nevis Programme. Plans have stalled for a similar scheme in Grenada after it failed to get approval by a majority of Cabinet members, but Dominica maintains its own ECP, strengthening the focus on investment and involvement in local projects and increasing the minimum individual investment to US $100,000. For details on qualifying property developments, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

Left: Calivigny Island, Grenada

7 PRIVATE ISLAND RESORTS

Small But Perfectly Formed

When it comes to luxury and exclusivity, nothing can beat a Caribbean private island resort. From the Bahamas to Belize, there’s no better destination for splendid isolation. Here are our top picks LE O B E A R

Bon voyage Calivigny Island, just south of Grenada, oozes European style. Belonging to a glamorous French couple, you’d expect nothing less. Choose from a colonial-style suite in the main house, a chic two-bedroom cottage, or if you want to really push the boat out, a palatial mansion filled with custom-made Oscar de la Renta furniture. Getting around the 80-acre island is by quad bike, but fear not, wherever you venture – even the furthest-flung beach – you can still order a cocktail. Make a good impression on the owners, and they might even lend you their 173-foot Perini Navi yacht for your evening sundowner. Calivigny Island, Grenada

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IN BRIEF 7 PRIVATE ISLAND RESORTS Celebrity favourite Five large beach houses, each with its own wrap-around mahogany deck and private sugar-sand beach, make up this paradise resort located in the Exuma chain. It belongs to world-famous magician David Copperfield, accommodating no more than one group of 24 guests at any one time. Copperfield has spared no expense in creating his vision of holiday perfection. This includes an outdoor movie theatre called ‘Dave’s Drive-In’, a games room with a billiards table that once belonged to Houdini and 4km of jogging trails. Musha Cay also boasts a two-mile sandbar – surely a contender for the world’s most romantic stroll. Well, Oprah thinks so anyway. Musha Cay, Bahamas

Fun in the sun This is the ideal retreat for active types. The resort owns two 44-foot sailing yachts with spacious cabins so you can overnight on them should you wish, and as well as sailing, there’s windsurfing, kayaks, pedaloes and some great scuba diving in the area. This is one of the bigger private islands in the Caribbean with 29 guestrooms, but don’t be put off, you still get to feel like a castaway – there’s just plenty to keep you busy while you wait for rescue. The floating Coconut bar, for example, is a great place to mingle with other guests although if you prefer privacy, thatched huts on the beach provide the perfect table for two. Young Island, St Vincent & the Grenadines

Highview Living Room at Musha Cay, Courtesy of Musha Cay and the Islands of Copperfield Bay

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

on point

so as to exceed your expectations

Discover service excellence at every turn at our private island luxury resort in the BVI. Enjoy elegant accommodations, secluded beaches, a tranquil spa, waterfront dining and a modern, deep-water marina. And for those select few who have always wanted to escape and call the Virgin Islands home, our exquisitely appointed 2, 3 and 4-bedroom villas showcase gracious living areas, expansive terraces and breathtaking views.

Dining & Spa: 284-440-3440 Group Sales: 813-849-4147 Room & Marina Reservations: 813-849-4100 ScrubIslandSales@mainsailhotels.com www.scrubisland.com

escape. explore. itâ&#x20AC;&#x2122;s yours to discover.

IN BRIEF 7 PRIVATE ISLAND RESORTS Fit for a king With the emphasis on impeccable service, there are few places that can compete with the Royal Belize. For each villa, a staff of seven is provided including a private chef and a concierge, both of which are on hand 24/7. Every member of staff is professionally trained to the highest level and knows how to remain unobtrusive while responding to even the most demanding of requests. The island itself is tiny (arrival is by helicopter) and postcard-pretty in a charming old-world way. This is the Caribbean of yesteryear with traditional thatched cottages, wicker garden furniture and trees swaying under the weight of coconuts. No gimmicks. Just an island all to yourselves. Royal Belize, Belize Virgin territory Following last year’s fire, Necker Island is back on track and looking better than ever with a brand-new snazzy beach house. Its owner Richard Branson has also welcomed some new furry friends to the island – a family of ring-tailed lemurs – certain to keep the little ones happy. Bookings are flexible. You can reserve a room or hire the whole island, but whatever you choose, Branson and his energetic team will organise all manner of fun and games for you and your guests to enjoy. For example, a casino night, a beach BBQ or a fancy dress party. Eat your heart out Jack Sparrow. Necker Island, BVI Off the grid Offering mile upon mile of sugar-soft sand and verdant forested hills plus an unplugged policy that forces you to switch off your BlackBerry when you step ashore, this island is one of the most luxurious in the world. Each of its 22 cottages is breathtakingly beautiful, built

“…This is the Caribbean of yesteryear… No gimmicks. Just an island all to yourselves…”

Top: Bali Hi at Necker Island, Courtesy of Virgin Limited Edition Bottom: Royal Belize, Belize The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

One&Only in a nutshell. Live the moment.

Cast like jewels across a tropical world, the resorts of One&Only entice with the promise of extraordinary discovery. Island retreats, enchanting palaces and enclaves of contemporary chic design, each offers exquisitely private accommodation and genuinely gracious service. Perfect for lifeâ&#x20AC;&#x2122;s most precious moments. To make a reservation or to find out more, please visit oneandonlyresorts.com or contact your preferred travel professional. Bahamas | Cape Town | Dubai | Maldives | Mauritius | Mexico One&Only Sanya, Hainan opening soon

from native stone and wood, scattered sparsely across the island to ensure maximum privacy. Its hillside spa has four open-air treatment rooms with dazzling 180-degree views and scores of treatments to revitalise even the most stressed-out of city types. Naturally, this is a favourite with honeymooners but it is possible to hire out in its entirety too. Petit St Vincent, St Vincent & the Grenadines

of local Zirocotte and Jobillo wood for the verandahs and cabbage bark to decorate the ceilings. As well as generous private pools, each villa comes with a pantry stacked high with its occupants’ favourite snacks and treats. But best of all, with a limit of 18 on the island, there’s no danger of having to share your view (or your nibbles) with anyone else. Cayo Espanto, Belize

Ultimate escape Compared to some of the more popular islands in the Caribbean, Belize remains virtually undiscovered. As a result, the lavish private island of Cayo Espanto just off the coast of Belize, offers total seclusion. The generous villas, many of which are two-storey, are designed in keeping with the natural environment with the use

Globe-trotting travel writer Leo Bear has a penchant for paradisiacal private islands. She also writes for Condé Nast Traveller, Sunday Times Travel, House and Garden and Elle UK.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

IN BRIEF 7 PRIVATE ISLAND RESORTS

Top: Calivigny Island, Grenada Right: Kids at Casa Ventenas, Cayo Espanto, Belize

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

Casa Kimball, Dominican Republic

7 VILLAS TO RE NT

Luxury for Hire

Looking for privacy and a uniquely indulgent experience for your next Caribbean vacation? Here are 7 villas offering both in equal measure Zoe Dare Hall

Tropical Modernism The strikingly modern, stand-alone Casa Kimball villa sits on the Dominican Republic’s pristine north coast, designed to maximise the sunlight in its spacious, open plan rooms, take in 180 degree views of the Atlantic Ocean and allow the breezes to flow through its open spaces. The villa has eight bedrooms, sleeping up to 18 people, and a vast infinity-edged swimming pool, 156-foot (47m) in length, more than big enough to see everyone luxuriate on the seating platforms around its perimeter. The villa also comes with a personal chef, fully-stocked bar with a bartender, English-speaking guest services and an oceanfront cliff-edge hot tub. You needn’t see another person during your stay either as Casa Kimball is hidden away in its own three-acre estate surrounded by almond trees, coco palms and other native shrubs. Rental rates are from US $2,900-$3,500 daily or US $18,000-$24,500 weekly, including full staff and three daily meals. Casa Kimball, Dominican Republic The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

IN BRIEF 7 villas to rent

The Living Room and Terrace, Villa Aquamare, Virgin Gorda, British Virgin Islands

Blissful Solitude Aquamare is a secluded enclave of three, 8,000 sq ft private villas, set on different elevations and surrounded by lush landscaping with views across Virgin Gorda’s Sir Francis Drake Channel. Each villa has five bedrooms – including three en suite master bedrooms - sleeping up to 12 guests, or you can rent two or even all three villas if you wish to accommodate up to 36 people. There are spacious living areas, with 30-foot high vaulted ceilings, terraces and private waterfront infinity pools, professional-grade kitchens and unobThe Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

structed views of the islets, providing some of the best sunsets in the Caribbean. Then when you want privacy, the bedrooms offer perfect havens for in-room spa treatments or luxuriate in the open – yet sheltered – marble bath suites. A separate concierge house near the villas provides guests services on demand. Villa rental rates are US $17,000-$23,500 per week for up to 12 guests (including toddlers and children). Additional guests, up to two, cost an extra $150 per person per day. Villa Aquamare, Virgin Gorda, British Virgin Islands

IN BRIEF 7 villas to rent Left: Premium Villa at Rockhouse Hotel, Jamaica Right: Bedroom at Opium, Mustique

Sunset Strip Perched on a secluded cliff-edge on the small Ani Villas Anguilla estate, Ani North and Ani South are two fully-serviced private villas ideal for hosting larger groups or families. Each villa has five bedrooms, a pool and cliff-edge hot tub where you can soak up views of Little Bay, one of Anguilla’s most prized hideaways for swimming and snorkelling, and, as the villas are Westfacing, astounding sunsets along the coastline. All master bedrooms and indoor and outdoor living spaces and Ani North has a unique centrepiece: a dramatic stair atrium with a vast skylight above and water feature below. The villas also share a tennis court and gym and each enjoys the services of a private butler, chef, security and housekeeper. Weekly rental rates are US $30,000$42,000 and include private speedboat transfer from St Martin, a rental car and all drinks. Ani Villas, Anguilla

Heaven Scent This is surely one of the most stylish villas in one of the Caribbean’s most sought-after locations. Opium - a hilltop oasis in the centre of the island, a mere stroll from Basil’s Bar – has contemporary Safari-style decor and Bali-inspired architecture, set around koi ponds and water features. The villa – with three bedrooms in the main house and two in each of the two separate guest houses - has open-air and tented living and dining spaces, and a roof tower for cocktails with panoramic views of the Caribbean and Atlantic. The house also comes with a staff of six to take care of you. For leisure and entertainment, there are two swimming pools, a gym, home cinema and games room. Rental rates, for a maximum of 14 guests, are US$35,000-$40,000 per week. Opium, Mustique The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

Rock ‘n’ Roll In a move away from minimalist mansions, the Rockhouse boutique hotel in Negril offers waterfront luxury of a different variety – quirky, cliff-top thatched cottages that sit, like a row of rocky fairy cakes, directly over the water with wrap-around terraces and sublime views across Pristine Cove. The premium villas have outdoor showers, four-poster beds and dressed, polished local timber furniture specially designed for Rockhouse. This is low-key chic with all the requisite luxury, exoticism and seclusion - and astounding views of the sea, sunset and night skies. Rental rates are from $220-$465 a night. Rockhouse Hotel, Jamaica Paradise Found It’s called Paradise in the ancient tongue of Sanskit and it certainly brings a slice of the heavenly to a secluded corner of Grand Bahama. Nandana is a large, newly-built luxury estate which sits on a private sandy beach near the island’s West End. Designed in Asian beach house style, this ultra-luxurious private property, which sleeps 12 in total, exudes a sense of serenity. Set in a gated enclave, the main house has soaring 40-foot ceilings and the five large bedroom suites in separate buildings all open up to wide, uninterrupted views of the ocean. That’s if you can keep your eyes off the mag-

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

nificent Asian art that adorns the properties, including 250-year-old Javanese teak doors and hand-carved antiquities and silk treasures from Thailand, Cambodia and Vietnam. You’d feel little desire to go far beyond this property, with its 120-foot long infinity pool whose waterfall edge drops to the beach below and 300 palm trees and tropical plants to provide shady reading spots. Pitch up here in your own private plane, landing at the adjacent private airport, or take to the skies in the property’s private jet for lunch on another island. If boats are more your thing, you can park your yacht in the property’s mooring and enjoy day trips to deserted islands. To rent Nandana, prices start at US$5,500 a night for up to six people and $8,000 a night for groups of up to 12. Nandana, Dominican Republic

“…Pitch up here in your own private plane, landing at the adjacent private airport, or take to the skies in the property’s private jet for lunch on another island…”

IN BRIEF 7 villas to rent Left: Casa Kimball, Dominican Republic Centre: Nandana, Dominican Republic Right: Villa and Swimming Pool, Amanyara, Turks & Caicos

Serene Beauty Just steps from the powdery, alabaster sands of Malcolm’s Beach in Providenciales, in the Turks and Caicos, Aman Resort’s Amanyara sits in a secluded spot surrounded by tropical vegetation and rocky coves that offer some of the world’s best wall and reef diving. Six almost Zen-like villas, with three, four or five bedrooms, are available for rent, each set on more than 1.5 acres of lush terrain and located either along the oceanfront, overlooking a tranquil pond or tucked away among colourful vegetation. Some have internal reflecting ponds and outdoor bathtubs and showers. All villas have an infinity-edged black volcanic rock swimming pool surrounded by hardwood decking and free-standing bedroom pavilions. Rental rates per villa per night are from US $4,700-$17,850 and include private airport transfers, non-motorised water sports, daily snorkel trips, tennis lessons, yoga classes and private bar. Amanyara, Turks & Caicos

Zoe Dare Hall is a London-based freelance journalist who writes about property for the Sunday Times, Daily Telegraph, Financial Times and various other newspapers and magazines. She has spent much of the past eight years travelling the world to see and write about new property developments.

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7 GEMS OF CUBAN ARCHITECTURE

Havana Gold

In the centuries following the arrival of the Spanish Conquistadors, Cuba emerged as the world’s largest sugar producer and wealthiest tropical nation. This wealth funded the construction of lavish palaces and mansions across the island, now considered “one of the world’s greatest collections of architecture”. Judith Baker

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The Hall of Mirrors at the Presidential Palace, Havana

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IN BRIEF 7 GEMS OF CUBAN ARCHITECTURE Left: Indoor private swimming pool at Casa de Pablo Gonzalez de Mendoza, the British Ambassador's Residence Right: 18th Century residence Casa del Conde de Casa Bayona

As Cuba continues to grow in popularity as a premier destination, the world is rediscovering the country’s splendour. Author and Caribbean antique expert Michael Connors talks to Judith Baker about seven of his highlights of Cuban architecture.

in Cuba, it was designed by Esteban Rodriguez Castells, Rafael Fernandez Runeses and Jose Menendez. Its modern architectural lines and colourful exuberant decoration, both inside and out, have made it one of the most famous landmarks on the island.

The Presidential Palace Designed by Paul Belau and Carlos Maruri, Havana’s Presidential Palace was built in 1920. Among many splendid features is its ballroom, lined with vast mirrors and referred to as The Hall of Mirrors (Salón de los Espejos). It has elaborate ceiling frescoes by Cuban artists Armando Menocal and Antonio Rodriguez Morey.

The British Ambassadors House Now the home of the British Ambassador, Dianna Melrose, the Casa de Pablo González de Mendoza was designed and built by Cuban architect Leonardo Morales in the “Vedado style” in 1916. Surrounded by large gardens, fountains and sculptures, the large Havana residence includes a Roman-style indoor swimming pool, the first of its kind to be built in Cuba, which was boarded over and used as a dance floor during parties.

Casa del Conde de Casa Bayona This Casa represents one of Cuba’s finest examples of seventeenth century domestic architecture. Restored in the 1720s it has a central courtyard and an ‘entresuelo’, a mezzanine where servants lived. The second floor salon has an impressive collection of eighteenth and nineteenth century Cuban made furniture and decorative arts. The Bacardi Building Built as the headquarters for the world-famous Cuban rum company in 1930, the Bacardi Building was the tallest building in Havana when it was built. Thought to be the best example of an art deco commercial building

Palacio de la Condesa de Revilla de Camargo This magnificent, two storey palacio was built in Havana by wealthy sugar magnate Jose Gomez Mena for his sister Maria Luisa, the Countess of Revilla de Camargo, in 1927. It is a prime example of the French classical-revival style of the École des BeauxArts, Paris. Outstanding features include the entrance hall’s spectacular staircase carved from white Carrara marble and furnishings introduced by Parisian experts Maison Jansen, the first truly global design firm established in 1880.

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IN BRIEF 7 GEMS OF CUBAN ARCHITECTURE Palacio de los Capitanes Generales This luxurious palace, which served as the official seat of Havana’s town council and the residence of the captain general (governor), is considered by many to be “the greatest exponent of eighteenth century Cuban architecture”. Built between 1726 and 1792, the window mouldings, doorways and inner courtyard of this palacio, one of the last baroque palaces built in Havana, set the standard for Cuban grandeur.

Bottom Left: Double height entrance hall at the Palacio de la Condesa de Revilla de Camargo Bottom Right: The marble doorway to the governor's residence, Palacio de los Capitanes Generales, Havana Right: Palacio del Valle with view of the Caribbean Sea, Cienfuegos

Palacio del Valle The ostentation of the Palacio del Valle reflects the vast wealth of sugar planter Aclicio Valle, who built the mansion in 1912. The ornate residence was built in the Neo-Mudéjar style by Moroccan craftsmen, brought in to recreate this masterpiece of luxurious SpanishMoorish design in the southern city of Cienfuegos, La Perla del Sur (Pearl of the South).

“The Splendor of Cuba: 450 Years of Architecture and Interiors” by Michael Connors is published by Rizzoli. www.rizzoliusa.com Judith Baker is a journalist and travel writer specializing in the Caribbean region. Her work has appeared in a number of newspapers and magazines. Recent travels have found her in the Bahamas, Panama and Dominica.

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MONE Y

SPECIAL FEATURE:

New Horizons Despite being better known for the unique challenges they face, three vastly different Caribbean locations represent highly attractive emerging investment opportunities, say our expert guest contributors

NEW FRONTIERS : MONTSERRAT, CUBA & HAITI

PRIVATE BANKING TAX FOREIGN EXCHANGE

1 A GREEN FUTURE FOR THE CARIBBEAN'S EMERALD ISLE

Montserrat by John Cox Having made enormous progress in its recovery from the 1995 eruption of the long dormant Soufrière Hills volcano, Montserrat has set out on a path of sustainable growth Any discussion of Montserrat inevitably seems to turn to the island’s recent past and the so-called “volcanic

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MONEY NEW FRONTIERS revolution” that rocked the southern part of the island almost 20 years ago. In 1995 Montserrat’s long dormant volcano erupted, causing long-term social and economic change. Plymouth, the island’s capital and port in the south of the island, became uninhabitable. Three quarters of the pre-volcano population of 13,500 emigrated. Economic life ground to a halt and a successful tourism industry built around luxury villas catering largely to wealthy North Americans was significantly impaired. The focus of this article is however not on the Montserrat of yesterday, but on the Montserrat of today and tomorrow. Fast forward to the present day and the small island’s centre of gravity has moved to the north of the island, an area afforded natural protection from volcanic activity by the Centre Hills mountain range. The population has re-bounded from its late1990s low to roughly 5,000 and a raft of promising opportunities to enhance growth is in the works. First and foremost, are plans for a new capital at Little Bay in the north of the island. In 2011, the Government of Montserrat completed a final design review of the master plan, which includes residential, commercial and entertainment spaces designed in a fresh, modern, eco-sensitive architectural style with traditional accents. The plans present investors large and small with a unique opportunity to help shape a new capital and, indeed, the future of an island. Plans for the new capital are complemented by a range of other schemes. For example, Montserrat intends to double its population within the next ten years and is keen to stimulate the tourism industry by enhancing the tourism product, including re-energising the luxury villa tourism sector and promoting eco-tourism. Montserrat’s unique flora and fauna in the protected Centre Hills and among the cliffs of the northern part of the island represent a currently underexploited tourism opportunity. A privately-funded biodiversity centre is being planned for one of the hillsides overlooking the new town, which will provide research facilities for visiting professionals as well as opportunities for tourists interested in residential courses. Plans are also afoot to expand air and sea access to the island, including a new port with capacity to accommodate cruise ships of a limited size that will enable Montserrat to benefit economically from cruise passenger arrivals without being overwhelmed. A larger port would enhance links to the region and foster increased trade. Projects are also underway for determining geothermal energy potential and for the reestablishment of high-speed submarine fibre-optic links. These projects will make for a very attractive business environment, offering the potential for swift international communications and affordable, green energy in the “Emerald Isle of the Caribbean”, as Montserrat is known.

Meanwhile, the government has launched a National ICT Strategy, involving the distribution of subsidised laptop computers to school children to encourage the development of a digital economy with the ability to attract high value businesses. The government has also begun upgrading public infrastructure, including, for example, the island’s schools, main roads and hospital. The high-speed fibreoptic links could make tele-medicine a reality within the next couple of years. As a British overseas territory, Montserrat already benefits from political stability, security and support from the UK and EU, providing an attractive investor climate. The construction of the new capital, improvement of air and sea access, and the investments in education and infrastructure will further enhance the appeal of the Caribbean’s Emerald Isle. John Cox is CEO and Director of Infrastructure of the Montserrat Development Corporation.

11 PEARL OF WISDOM

Haiti by Douglas Clayton As billions of dollars of foreign assistance pour into the “Pearl of the Antilles” driving economic growth, the CEO and Founder of pioneering private equity firm Leopard Capital explains why he believes Haiti is poised for growth and mutually beneficial investment opportunities abound In crisis lies opportunity, states an old Chinese proverb. When it comes to Haiti, most outsiders comprehend the crisis part, having seen images and heard accounts of the grinding poverty, the devastating earthquake, the homeless tent dwellers and cholera outbreaks. An entrenched industry of non-government organizations (NGOs) dutifully highlights Haiti’s heartbreaks, eager to maintain the donation flow through their bureaucracies. While Haiti offers more plotlines than tragedy, pathos dominates its international narrative. The opportunity that Haiti presents gets scant coverage, however, as it has fewer spokesmen. Most global investors rate the whole Caribbean region as just too small and fragmented to bother with, and as the region’s least developed nation, Haiti falls even further off the radar screen. Conventional wisdom extrapolates that since Haiti has long been an economic non-achiever,

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thus it will ever remain. This simplistic, static viewpoint on development is being disproven by many low income countries in Asia, Africa and Latin America that have quietly transformed themselves from sick men into social climbers. Situations change, often unnoticed by preoccupied outsiders. Time to stick our neck out: we believe that from a

Putting our money where our mouths are, my colleagues and I recently launched Haiti’s first commercial investment fund, replicating a model we pioneered five years earlier in Cambodia - another little “NGO Republic” that is now silencing skeptics through economic advancement. Haiti’s economy has floundered for decades, so why

rock-bottom base, Haiti has entered an economic upswing that could last for decades. Naysayers will disagree, although few would forecast Haiti’s economy to fall, when it is already supine. But if our positive assessment is correct, right now Haiti is one of the most exciting investment destinations in the Western Hemisphere, and early-bird risk takers will be handsomely rewarded. Haiti’s challenges are not state secrets, and are factored into local asset prices. “Be greedy when others are fearful”, advises Warren Buffet. If you don’t believe greed is good, remember that a job-creating investment in a country with 60% unemployment can be the gift that keeps on giving.

get bullish now? The January 2010 earthquake created an economic inflexion point, by mobilizing an international pledge of US $10 billion to assist 10 million people in a $7 billion economy. That’s a hefty stimulus. True, a lot of that money remains undisbursed, and, of what was spent, much was wasted. Even so, enough flowed into Haiti’s economy to drive 5.6% GDP growth in 2011 – the fastest rate in the region. “Fixing Haiti” has become a major foreign policy preoccupation of wealthy countries that can afford to make a difference. And sovereign donors now seem to recognize that fixing Haiti’s private sector is fundamental to fixing Haiti. Haiti’s elected government also shares this belief,

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MONEY NEW FRONTIERS and has switched its focus from attracting foreign aid to attracting foreign investment. Its overseas diplomats have been turned into investment promoters. Haiti’s private sector is also on board with the strategy. Beyond the terrible human cost, the 2010 earthquake whacked Haiti’s businesses, bankrupting customers, mangling machinery, and collapsing warehouses full of goods, everything from boxes of t-shirts to barrels of Barbancourt rum. To make matters worse, some local insurers were wiped out and claims went unpaid. With so many local businesses de-capitalized, it is not surprising that foreign investors are treated with full Haitian hospitality. Haiti’s largest donor, the US is making a major effort to revive Haiti’s apparel manufacturing industry and employ the country’s youthful, low cost, unskilled labour force. America has extended duty-free access to Haiti’s apparel factories, and USAID is helping fund the Northern Industrial Park project which will accommodate up to 50,000 workers. For Haiti this scale of investment is unprecedented – the US $300 million cost of this single mega-project exceeds Haiti’s entire foreign investment inflows from 2007-2010. Investors need only to follow the money, and fund some of the support businesses that will mushroom around the industrial zone, such as housing and health care. Haiti’s tourism sector is also ripening for investment. The forgotten “Pearl of the Antilles’’ still offers one of the Caribbean’s most spectacular destinations, with as long a coastline as mainland USA’s Pacific rim, sprinkled with storybook tropical beaches backed by towering rugged mountains. Visitors can soak up Haiti’s unique flavours of art, music, dance, cuisine, language and religion. Its countryside is studded with colonialera forts and dilapidated little towns from yesteryear and, from our experience, is safe to drive around. Yet, for all its visual and quirky charms Haiti draws only a handful of leisure tourists every year, versus over 4 million in neighbouring Dominican Republic. That may change. The Tourism Ministry’s master plan calls for the construction of 3,000 new hotel rooms within 3 years and several significant hotel projects are already under construction in Port-au-Prince. Outside the capital, top priority has been given to restoring the historic coastal town of Jacmel. Venezuela has donated $40 million to expand Jacmel’s airstrip into an international airport and transform the town’s quaint waterfront district into a tourism zone. Jacmel’s setting, architecture, artisans and festivals make it a favourite hideaway of international celebrities such as Donna Karan and Maria Bello. Jacmel’s still inexpensive property values seem sure to rise once the new airport enables foreigners to fly in direct, and investors should not miss the chance to get in early in the Caribbean’s next hotspot. A third opportunity awaits in food processing. Haiti

produces exquisite mangos, coffee and cocoa, but its export volumes need expanding. The nearby US contains a captive market of 1.2 million patriotic HaitianAmericans, many missing goods from back home, not to mention all the other Americans who might like to buy something Haitian. Investors can bridge this supply-demand gap by investing in efficient collection, storage, and processing capabilities, simply replicating what many other Caribbean and Central American nations have already achieved. Haiti is a land teeming with opportunity. Experience it – and bring your checkbook!

111 SEEDS OF CHANGE

Cuba by Dr Hilary Becker Once dependent on Soviet subsidies to prop up a state-controlled planned economy, an increasingly open Cuba is emerging as one of the Caribbean’s top tourist destinations and most attractive investment opportunities Cuba, the island of romance and nostalgia located just 150 kilometers from the coast of Florida encompasses everything people love about the Caribbean: Sun drenched virgin beaches, exotic nightlife, the birthplace of Salsa dancing and a cultural melting pot where European, African and Chinese cultures merge. Cuba has a rich history too, from the mafia to the revolution and the US Embargo, peppered with charismatic and enigmatic personalities from Fidel Castro and Che Guevara to Ernest Hemingway. Spanning 110,860 square kilometres, Cuba, “La Isla Grande”, is the largest island of the Caribbean. With a literacy rate of 99.8%, its population of nearly 11.5 million people is also well educated, the result of a free education system. Although its principle exports are sugar and tobacco, and the República also has an abundance of mining opportunities, unexploited fisheries and a wealth of oil which is starting to be extracted, it is tourism which has emerged as the largest sector and presents the most opportunities to the astute investor. It was the fall of the Soviet Union in the early 1990’s that required the Cuban government to change and open up the economy, fueling the growth of tourism. As the health of Fidel Castro has declined, power has passed to his younger, more pragmatic brother Raúl, who has made various progressive reforms, including

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awarding more than 250,000 small business licenses to foster entrepreneurial ventures and permitting Cuban citizens to own and sell property. These moves have enhanced the economic climate and will spur future growth in the tourism sector. The island nation already attracts more tourists than most other Caribbean destinations - close to 2.5 million

sorts. At the time of writing, the combined value of four major projects in development stands at US $1.5 billion (1.2 billion Euros). The four resorts include Loma Linda in Eastern Cuba near Guardalavaca/Holguin by Standing Feather International of Canada, a project including three golf courses and a marina by Leisure Canada near Jibacoa (one hour east of Havana), a proj-

per year. The potential elimination of the US embargo could see an estimated 3 million additional tourists visit the island. Recent softening of the US stance has seen a significant increase in US visitors to Cuba (mostly Cuban Americans), now representing the second largest visitor segment behind Canada. These changes have not gone unnoticed by international markets, which eagerly anticipate the further softening of the US stance on Cuba and potential elimination of the US embargo which would see a flood of US tourism and investment. With the approval of the government, investment has poured in from overseas, funding the development of all inclusive, high end re-

ect by the Escencia Group of London near Varadero which will include a golf course, marina and 730 units, and a fourth project scheduled for development in Pinar del Rio to the West of Havana by another European company. The Loma Linda project near Holguin is a US $410 million (368 million Euro) project covering 520 acres, which is a joint venture operation with Palmares SA of Cuba. Major projects such as these are typically structured as joint ventures with ownership split 50-50% or 51-49% in favour of the Cuban state enterprise. Loma Linda will include up to 1,300 fully furnished onethree bedroom luxury villas, bungalows, duplexes and

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MONEY NEW FRONTIERS & PRIVATE BANKING apartments for sale. Properties are expected to sell in the region of US $400-600,000 (325-500,000 Euros), and will be built alongside a 36-hole championship golf course and a 170-room 5-star hotel. The most significant change made by the Cuban government in regard to these developments is that they have received a new legal classification as “Special Economic Development Zones”. This means that these properties and their adjoining gardens, pools and driveways will no longer be considered as part of Cuba. The changes will allow for the right to own the property in perpetuity. Formerly property could only be sold on a 99-year lease and purchasers did not actually own the land. These issues were red flags for many investors. The reforms take away some of the key concerns of potential investors. In a further change, foreign owners will also be considered a special class of visitor called “Residente Inmobiliario”, which will allow for longterm stays on the island and the importing of cars and food exclusively for these properties. Despite the apparent bourgeois direction Cuba appears to be heading in, don’t expect to see casinos popping up any time soon. In Cuba gaming is associated with the mafia dominated casinos of the pre-revolution

1950’s and the government has publically dismissed any thought of a return to that. Other critics have challenged golf courses as a means to drive economic growth, citing the negative impact of golf course development and operations on the environment. However, Cuba has met these environmental challenges cogently by requiring environmental impact studies, managed by CITMA (Ministry of Science, Technology and the Environment). In recent years, Cuba has worked in conjunction with numerous domestic organizations such as the Fundación Antonio Núñez Jiménez and foreign organizations such as the World Wildlife Fund amongst others on sustainability initiatives in tourism and economic development proposals. Cuba is potentially poised for significant growth. The seeds of opportunity are being planted. Those seeds could begin to bear fruit in the near future if the government continues on its chosen path and does not pull back. In the past economic reforms and initiatives have been proposed and then dropped. However, with Raúl Castro at the helm and with the magnitude of the changes that have been made, it would be very difficult for the Cuban government to do so. The opportunity is ripe for the picking.

The Antigua Advantage Words Michele Delco Michele Delco, General Manager of the PKB Privatbank in Antigua, discusses the advantages of private banking in the Caribbean With its 365 beaches, colonial era historical attractions, world renowned sailing events and opulent estates, Antigua is well known as one of the Caribbean’s premier tourist destinations and second home markets. Unlike other locations in the region, it is less well known for wealth management. However, the island has become home to a branch of PKB Privatbank, a Swiss private banking specialist based in Lugano, with additional branches in Geneva and Zurich. Why Antigua, you may ask? Firstly, as an independent member of the Commonwealth, with a stable political system and solid currency (Eastern Caribbean Dollar) that is pegged to the US Dollar, Antigua provides a low risk environment, both for clients and for PKB Privatbank. The country offers a healthy, well regarded jurisdiction for private banking where strong banking secrecy ensures customers can be assured of discretion. From this solid base, PKB Privatbank is able to offer a wide range of diversified products and services required

by private banking customers, as well as access to stock markets, commodities and forex. As part of a Swiss private banking group with a 50 year pedigree, we provide a conservative, prudent approach and the first class service customers expect from a Swiss private bank. Our people are critical to our business success and Antigua also provides a pool of talent, from which we can carefully select the individuals who are best qualified and most closely aligned to the Group’s philosophy. We invest in our people, each year sending staff to Switzerland for training in our offices in Lugano, Zurich and Geneva. We are therefore able to offer our customers first class Swiss standards surrounded by Caribbean comforts. It is not just our people who operate according to the highest standards. As in other parts of the world, in recent years the financial services landscape has changed significantly in Antigua, and, as a consequence of recent events, the supervisory authorities have become increasingly strict. The authority, known as the FSRC (Finan-

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MONEY PRIVATE BANKING & TAX cial Services Regulatory Commission), is extremely professional and competitive and easily comparable to authorities of larger financial centres. The FSRC offers the transparency and high standards both we and our customers require. The relatively small size of the sector in the Caribbean has meant that the region has been able to emulate the new approaches of countries such as Switzerland, Hong Kong and Singapore and to move

fast and adopt new systems of control without the complications experienced by those larger territories. Antigua is not the only location in the Caribbean that offers benefits for private banking. PKB Privatbank recently opened another branch in Panama. So, whilst a walk on the beach or a day out on a yacht might well be the Caribbean’s main appeal, without a doubt there is much more to the region that demands your attention.

Barbados Rolls Out the Red Carpet Words Louisa Lewis-Ward, Tax Engagement Leader, PwC Barbados The welcoming island introduces even more incentives for High Net Worth Individuals, investors and wealthy retirees Barbados is traditionally known as a destination of choice for High Net Worth Individuals (“HNWIs”). The reasons for the island’s popularity are numerous: Excellent quality of living, a mature and educated work force, a sophisticated telecommunications system and excellent transport and communication links to major cities worldwide. In addition, the island boasts a low level of crime, political stability, an established infrastructure and high standards of medical service. The country’s reputation as a highly regarded international financial services centre is largely founded on its ever expanding network of double taxation agreements with 32 countries, including Canada, the USA and the UK. These treaties can pro-

vide significant protection for residents. As wealthy individuals from around the world continue to seek out new investments and ideal retirement destinations, Barbados has worked hard at retaining its position as one of the more popular locations of choice. The country has implemented several worthwhile initiatives over the past few years, culminating in immigration measures introduced in the 2012 budgetary proposals which will allow HNWIs to readily reside on the island for extended periods of time. These immigration measures together with the availability of a tax credit on foreign income now make it simple and tax efficient for HNWIs to permanently reside in paradise.

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MONEY TAX & FOREIGN EXCHANGE New HNWI Immigration Policies To be classified as a HNWI one must have net assets of not less than US $5,000,000. It may be necessary to submit copies of income tax returns and audited statements of net assets to show the continuance of this asset level.

The indefinite special entry permit (ISEP) is subject to withdrawal if the threshold is not met for five years. The proposed sub-categories of high net worth persons, the applicable permits and fees for these are as follows:

Category

Details

Proposed fees (US$)

Persons >60 years and retired

Indefinite special entry permit (â&#x20AC;&#x153;ISEPâ&#x20AC;?) granted once security requirements met; you have adequate health insurance, you are retired and are not employed in Barbados

$5,000

Persons < 60 years and retired

Temporary permit valid until you reach age 60. Granted provided all security requirements met, source of wealth is clear, with confirmation through Central Bank or commercial bank and there is evidence that you are not seeking employment in Barbados and some of your income is taxable in Barbados.

$3,500 per term

Persons > 60 years who wish to engage in employment in Barbados

ISEP granted on payment of an additional work permit fee.

$5,000 for an ISEP plus $15,000 for an indefinite work permit or $5,000 for an ISEP plus $1,500 per year for a work permit

Persons < 60 years who wish to engage in employment in Barbados

ISEP granted. Fee equivalent to the value of multiple long-term work permits.

$5,000 for an ISEP plus $20,000 for an indefinite work permit or $3,500 for an ISEP plus $1,500 a year for a work permit.

The prerequisites for the granting of these permits address standard issues such as security checks, submission of police certificates of character, proof of adequate health insurance ( a minimum of US$350,000 medical insurance coverage for those under 50 years, and US$500,000 for those over 50 years); and evidence that the individuals are able to support themselves and their dependants. Applicants under 60 years who wish to run their worldwide businesses from Barbados, but not work for a Barbadian registered company, will not require a work permit. It is proposed that the spouse of the applicant should receive a residency visa for the same period as the applicant. Children will not be granted indefinite time, but will likely be granted special entry permits for a period of five years or a term of eighteen years, whichever is less. Minors or children at university or college who are still fully dependent on the applicant are to be given the same term as the applicant. The applicant will be required to provide evidence every three years that the child is enrolled in a school in Barbados, or is being home schooled with the approval of the Ministry responsible for education. Appealing Tax Regime Barbados has an income tax system and income taxes are levied on taxable income earned in or remitted to Barbados.

As such, if one is resident but not domiciled, you will only be subject to tax on income that you earn in Barbados while you are physically in Barbados, or on income that you earn and remit to Barbados in an income year when you are resident for tax purposes in Barbados. From August 2012 individuals are subject to tax at 17.5% on the first US$17,500 and at 35% on the remainder. However, the Barbados Income Tax Act permits an individual who is tax resident in Barbados to claim a tax credit on income from foreign sources transferred to Barbados through the banking system of up to 93% (dependent upon the percentage of foreign currency to total earnings) of the tax otherwise payable on such foreign currency earnings in an income year. This translates to an effective tax rate of approximately 2.45% for an individual whose income is solely from foreign sources. An Attractive Package From our discussions with clients it has become clear that Barbados offers the ideal combination of quality of life, tax efficiency and global recognition to make it a highly desirable destination for expatriates wishing to relocate. With the immigration regime recently implemented, the process of moving to one of the worldâ&#x20AC;&#x2122;s most beautiful islands is now efficient and effective. N.B. If you are thinking about moving to Barbados, it is essential that you consult your tax advisors in both your current country of residence, as well as in Barbados.

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Smoother Sailing

Words Tom Greenwood

How property investors can minimise risks and save themselves money when buying overseas. Tom Greenwood is Operations Director of International Foreign Exchange, one of the worlds leading foreign exchange consultancies.

Here, for anyone contemplating a property investment abroad, he talks about the importance of expert help to maximise the returns, and minimise the risk, of the purchase. The Caribbean is an undeniably attractive location for overseas property investment, especially with the growing interest in the St Kitts & Nevis Economic Citizenship Programme and similar schemes. For many potential investors, these schemes offer compelling tax, citizenship and travel advantages. But let’s not forget that at the heart of any ECP scheme, there is still a major financial transaction to be made, with all the accompanying pressures and uncertainties that affect any foreign national investing abroad, whether in the Caribbean or anywhere else in the world. Furthermore, using a different currency to your own adds an additional challenge, as you’re unavoidably exposed to the risks of exchange rate volatility. It can be a complex and stressful process, even for experienced hands. Unsurprisingly, many investors take advantage of the strategic, transactional and financial value that an experienced foreign exchange consultant can add. Strategic advantage It is impossible to predict the future movements of currency markets with any degree of accuracy, and irresponsible to try. Instead, a reputable foreign exchange consultancy will monitor currencies and markets on clients’ behalf – as well as the trends and external factors that could impact on them. Rather than focus purely on obtaining the best rate on a given day, they will provide advice and guidance on the optimal timing and the most advantageous contract for clients’ transactions.

A more personal service You should expect your foreign exchange consultancy to provide a higher level of personal attention and service than you’d expect from mainstream or retail channels. (At IFX, each client, private or corporate, is assigned a dedicated consultant who takes the time to understand their specific requirements, and is a consistent point of contact at every stage of the process.) Faster, more secure, more cost-effective A consultancy will also execute currency transactions faster and with less risk than their clients could alone. In addition, they will offer preferential exchange rates, and lower costs than are available through retail currency providers. Unsurprisingly, the choice of foreign exchange provider can have a significant effect on the final price. As an example, let’s assume a property investment priced at US $750,000, with the investor’s funds in Euros.

Typical Retail bank rate, Euros to US $: 1.2877 Price in Euros: €582,433 IFX Euro to US $ rate: 1.3210 Price in Euros: €567,751 Saving: €14,682 – plus further savings on costs, fees and commissions (Rates correct at time of writing) Last but by no means least, most banks require immediate settlement following a transaction. A foreign exchange specialist should be able to offer you more flexible and cashflow-friendly terms. For more information about International Foreign Exchange, please contact Osman Hanif on +44 (0)203 005 8898 or ohanif@internationalfx.com quoting 7th Heaven Properties.

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Elegant. Evocative. Exalted. The Shore Club features 820 linear feet of beachfront in a 12 acre setting on exclusive Long Bay Beach. Two and three bedroom condos start from $1.35 million. Six bedroom villas start from $5.8 million.

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interv iew

Legacy of Luxury Stan Hartling, the guiding hand behind several of Turks & Caicos’s most exceptional resorts, talks to The Caribbean Property Investor about his latest project, The Shore Club

For over 15 years, Stan Hartling and his Hartling Group team have been developing luxury real estate on Turks & Caicos, the island chain renowned for sophistication and quality. As he embarks on his third major project, Hartling reflects on what has remained constant. “My first project, The Sands, was one of the earliest and most successful condotel projects in Providenciales. I learned about the importance of offering both value and quality, and developing long term customer relationships. I then developed the Regent Palms, a resort that raised the bar for quality in Turks & Caicos, and indeed the Caribbean.” Hartling explains why his company has been so successful, and how it differs from other developers. “I’m really in tune with the land and sea here. I’ve lived in Provo a long time – about 20 years. That’s a long time by island standards! I understand how to build a property that celebrates the unique lifestyle and special qualities of the Turks & Caicos. My team shares that passion. We start by listening intently to our customers and building what they desire, paying attention to detail and quality and maintaining a high degree of integrity at every stage. We also stay with our projects after completion as property managers.” Hartling observes that his second project, the Regent Palms, is a perfect showcase of the Group’s approach.

“Every detail has been thoughtfully designed from the timeless elegance of the Barbadian architecture and the award-winning spa, to the elegant courtyard framed by luxury boutiques and our exquisite restaurant Parallel 23. There is also an incredible free form pool, a kids’ club that parents love as much as kids, the largest meeting room in Provo and beautiful guest rooms. All this, on one of the world’s top ranked beaches (Grace Bay)." Building The Shore Club on Long Bay Beach is in some ways a departure from Hartling’s signature resorts. Although less than a 5 minute drive from Grace Bay, Long Bay offers a “private island” style experience. Hartling believes the seclusion and the low density approach are behind the astounding 65% presales record, a very rare achievement for a Caribbean development these days. “This beachfront project will feature just 36 luxury condos and six private villas on 820 linear feet of beach. While remaining consistent with Hartling Group values, The Shore Club will offer a heightened level of luxury, amenities and guest experiences not yet offered in Turks & Caicos. I used to live on Long Bay so I have a real connection with the area. This property will go well beyond the standard Hartling Group promise of value and luxury. It will also offer the ultimate in discreet service, privacy, and a place to establish a family legacy.”

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

LIFE DREAM HOME: DESIGN, BUILD & STYLE

HEALTH ART FASHION RUM

BUILDING YOUR DREAM HOME — PART ONE : DESIGN

Divine Design An Interview with Architect Ron Shaw

ST Y LE

Since 1998, RA Shaw Designs has built an unrivalled reputation for designing breathtaking luxury residences that seamlessly unite interior and exterior living spaces for the Caribbean’s most demanding clients. Here, Founder Ron Shaw talks about the firm’s triumphs, challenges and tips for those embarking on a design project of their own. The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

LIFE & ST YLE DREAM HOME — DESIGN are generally in residence, versus westerly sunsets that may be enjoyed in other locales during outings and excursions more likely at that time of day. Identify your priorities and be clear in your own mind before you meet with an architect.

Can you tell us about where you started and your approach to architecture? RA Shaw Designs Ltd was incorporated in the Turks & Caicos Islands in 1998. I abandoned a career in the very competitive commercial / industrial sector in Canada in search of a dream to establish an architectural design firm focusing on the design and construction of single family residential projects in a tropical environment. We had purchased a vacation home on Providenciales a couple years earlier and in 1996 established residency in Turks & Caicos and the dream began. My strength is function. Creating tropical living environments that are drastically different to living in northern climates is what I do best. I like to create memorable tropical living experiences.

Previous Page: Turtle Breeze, Turks & Caicos Top: Babalua Beach, Turks & Caicos Right: Waite Residence, Turks & Caicos

What should be considered before hiring an architect? Land acquisition obviously precedes design, however I would recommend contacting an architect prior to considering a realtor. Realtors have good knowledge of available real estate, but sites that are ideally suited to meet your criteria in building development can be better directed by an architect. In choosing an architect, project portfolio is obviously important, but I think compatible personality is of greater significance. If possible, spend time touring projects and sites with your architect but pay as close attention to his or her commentary and philosophy as you do to the architecture. Be clear on your ideals and the environment you are looking to create. An experienced architect will be able to help you narrow down the various location options to fit with your ideals. Sites with elevation and a view may be more attractive than the beach. Panorama with views to leeward in my opinion are ideal. Often desirable beaches sacrifice privacy and/or serenity. Remote sites can offer spectacular night skies. For early risers, easterly shores provide breathtaking sunrises when you

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How do you typically work with your clients? My design strength is directly proportional to my listening skills. I make every effort to deliver what the client asks for. My preferred architectural style would lean toward island heritage, but I make every effort to deliver the client’s ideals rather than my own. Our portfolio ranges from traditional Mediterranean to contemporary and everything in between, all as directed by the client. I liken my design approach to baking a cake. The client decides on the flavour of the cake, then provides me with the ingredients. I do the mixing and baking, and we jointly add the icing. Beyond the design, we quickly learned the need and value of qualified and knowledgeable site supervision and management. As a result, we augmented our design offerings with construction services. We now build 95% of our designs. Our clients are clearly briefed on the five phases of our relationship and development as being: • Phase I – Concept Development • Phase II – Budget Pricing • Phase III – Construction Drawings • Phase IV – Permit Applications, Finish Detailing, Reconfirm pricing & Contract Signing • Phase V – Construction. How do you charge for your time? Typically, conceptual work proceeds on an hourly basis. On concept approval, we push it through a preliminary budget pricing exercise. Once form, function, and fiscal expectations have been met, we proceed with construction drawings based on a fixed fee. The balance of our fees would be included in our offer of construction. What considerations are important to take into account in the Caribbean versus other regions of the world? The majority of our work is commissioned by North American and European clients. The obvious difference in the Caribbean versus the rest of the world is the climate. Our weather is moderated by the surrounding sea and an almost constant daily sea breeze that cools during the day and keeps temperatures up at night. Three things need to be fully realized prior to design; topography, panorama, and prevailing wind direction. The design of the residence both architecturally and structurally cannot ignore the fact that we live in a hurricane alley. In all our projects, we utilize hurricane rated systems on our doors and windows. In new construction there is no

need to install secondary systems such as rolldown shutters. There are glazing systems that are designed to take the windload and impact of flying debris. We employ window walls that connect interior and exterior spaces seamlessly. We seldom use glazed windows. Our preferred specification is aluminium jalousie shutters. They allow 100% air flow while maintaining 100% security. In open position, they do not allow the hot tropical sunrays to enter the house and cause undue heat gain. Generally, passing rain showers are not an issue when left in open position. They allow air to flow through the house freely at night and reduce the need for air conditioning, again without sacrifice to security. Can you tell us about any particularly challenging projects you have worked on? Turtle Breeze on the northern shore of Provo provided a classic challenge, consisting of a very narrow lot on a windward shore and a client request to provide five bedrooms, all with ocean views. Impossible. The alternative development of an artificial interior lagoon behind the main house created a tropical oasis rivalling the attraction of the beach, and provided not only an appealing alternate backdrop for four of the guest rooms, but also a perfect refuge on those breezy winter days when beach lounging is not an option. My most challenging project was the 30,000 square foot Emerald Cay project located on its own island at the tip of the Silly Peninsula on Providenciales. At over $1,000 per square foot, cost was not governing the design criteria, detail was. Aside from the intricacies of architectural detail, the entire house is fully automated. To have audio, video, electric rollshades and bugscreens, air conditioning, pool equipment, security and video surveillance systems all controlled remotely would be a challenge in a sophisticated market, and near impossible in an island environment with limited knowledge and capable resources. To make this project even more of a challenge, the client insisted on concealment of all air conditioning systems, grills and equipment both inside and out. Do you have any advice for readers planning to build their dream home in the Caribbean? All too often single family residential projects are designed by non-resident architects with a northern latitude mind-set. In my opinion, one must experience living in the tropics to understand the difference. In all our designs, we utilize products and create features that deliver a tropical living experience one could not find in northern climates. In the same vein, in depth knowledge and understanding of hurricane rated systems and design is paramount. My top tip... choose a local architect.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

BUILDING YOUR DREAM HOME — PART TWO : BUILD

Building to Order An Interview with Construction Expert Royd Smurthwaite Based in Barbados, The Ridgeview Group’s Royd Smurthwaite has specialized in the construction of luxury and uber luxury homes in the Caribbean for over 25 years. He explains to The Caribbean Property Investor how to go about building the island home of your dreams Tell us about your background and approach to construction? I am a chartered Civil Engineer by profession. I have worked on prestigious projects in the Middle East, Africa and the Caribbean for over 25 years, the last 19 mostly focused on the Caribbean. During that quarter of a century, I have gained a thorough knowledge of the construction process and how it works, attaining a good reputation for complet-

ing projects on time, within budget and to clients’ satisfaction. The Ridgeview Group developed out of Ridgeview Construction in 2004 in Barbados and now includes separate construction companies in St Vincent and St Lucia as well as a development company in St Lucia and a service company in Barbados. Ridgeview Construction specialises in residential construction, having built over 25 luxury and uber luxury projects over the last 8 years. Most of the contracts awarded have been based on referrals. Ridgeview Construction Limited (RCL) has also worked on a number of building and civil engineering projects as well as offering project management services. Our approach to a project is to partner with the client and consultants to form a

close team so that problems can be solved quickly and easily with minimum of disruption to the project. We like to be involved in projects from the onset to use our experience in the build process to offer possible alternatives that can save the client time and money. We believe it is important to offer a personalised service to clients. What should be thought about before hiring a contractor? RCL knows how to combine international experience with local knowledge and resources, so that both our international clients and our local clients feel secure in choosing us to offer a full service, taking the hassle out of building in the Caribbean. The level of service is important and building codes need to be adhered to so that build-

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LIFE & ST YLE DREAM HOME — BUILD

ings are constructed to professionally recognised and accredited standards. You would need to do your own research into the island in question, looking at local rules and regulations, especially planning requirements, building regulations, legal requirements, architectural services and local banking. You should seek out actual referrals. For example, RCL has worked on an awardwinning golf residential resort since inception, building luxury villas for a number of internationally recognised sports personalities. Several villas built by RCL have received international awards for best villa. You should seek out a contractor with a proven track record and one that has the capability and integrity. Unfortunately some Caribbean contractors have a poor reputation in terms of project delivery and capability. It is important to hire a contractor that has the experience and track record, particularly with regards to the quality of build, especially when you are looking to invest a sizeable sum of money in a new home in the Caribbean. What kind of relationship do you have with your clients? We like to work closely with our clients, offering solutions to save them time and money, especially given the current world economic climate. Clients, quite rightly, are looking for value for money. We try to come up with innovative solutions by value engineering, without compromising on quality. RCL can give a client a personalised, fully inclusive service package. We take the

time at the beginning to carefully ascertain the client’s needs and requirements. We then ensure that those goals are achieved with open communication throughout the project life. Partnership, we believe, is the way forward. We are able to work closely with the client’s architect and professional team to give the client the personalised service they want and need. RCL is also able to offer a design and build service which is a very cost effective method of construction, saving time as well as money. What costs should a client expect? This depends on what stage we get involved in a project. If at the early stage, where we are involved in the design process and are able to offer value engineering solutions, we would charge our time on an hourly basis. We have found this to be the most economical for clients. Once involved with the construction, we would then bill out either on a monthly or stage payment basis, whichever suites the client’s requirements. We believe that it is important to stay competitive especially in the current climate and this has been reflected in our business model over the years with repeat business. How does building in the Caribbean differ to other regions of the world? The Caribbean region is totally different to all other regions of the world. It is made up of a number of small independent states which have their own rules and regulations on how to do business. It is important, as anywhere, to do your homework when look-

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

ing to build your dream home. The legal and planning regulations in the different islands can impact on the project duration. RCL is able to assist with these processes. Having worked throughout the region, RCL has built up a database of reliable service providers and business connections. Most of the islands do not have their own manufacturing industry and, as a consequence, most finishing items need to be imported. The cost of this needs to be considered along with other items, such as duties. The timescales and protocols in the Caribbean typically result in a construction process that is longer than in Europe or North America but this heavily depends on the island in question. Tell us about a particularly challenging projects you have worked on? A. Each project is unique and they come with their own separate challenges. Each new challenge brings experience which RCL has learnt from and puts to good use in future projects. Do you have any advice for readers planning to build their dream home in the Caribbean? Now is the time to consider making that first step. The cost of land and construction has dropped significantly to more sensible levels from recent years. Make sure that you get the right professionals involved early so that you avoid some of the pitfalls. Ridgeview Construction would love to have the opportunity to assist you in making your dreams come true and enjoy the paradise that is the Caribbean.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

INTERIOR DESIGN

Lapierre’s marble Hope Estate, 3 rue des Caraïbes, St Martin, French West Indies +(590) 590 87 32 49 info@lapierresmarble.com

www.lapierresmarble.com

BUILDING YOUR DREAM HOME — PART THREE : ST YLE

A Clean Slate An Interview with Interiors and Custom Stone Specialist Patrick Lapierre From its new base in St Martin, Lapierre’s marble provides custom cut stone and luxury European furniture to clients throughout the Caribbean. Founder Patrick Lapierre tells us about his mission to beautify the finest homes in the region. Tell us about your company and the products you specialize in? We set up in St Martin in 1991, specializing in custom cutting and finishing of beautiful stone, including marble, granite, onyx, quartzite, slate and so on. We also offer a range of high quality natural stone tiles with an infinite choice of colours, sourced from around the world. We have since moved to new, purposebuilt premises. The new building reflects our commitment to innovation and our investment in the most sophisticated digital machinery. In turn, the technology enables us to offer high quality, exclusive creations that are durable and innovative.

Whether a client is looking for a practical yet stunning contemporary granite kitchen, a made-to-measure marble bathroom or mirror effect swimming pool edging that links technique to aesthetic, we take care of every step in the process from custom cutting to shipping, delivery and installation. Do you offer any other products and services? A. Sure, we also provide clients with a wide range of European kitchen and bathroom cabinets, as well as indoor and outdoor furniture of the highest quality. For clients looking to create a kitchen that is both stylish and functional, we can provide kitchen cabinets from the German brand Häcker or the exclusive Italian brand Minotti Cucine. We can provide an excellent range of kitchen appliances, such as Gaggenau, Liebherr, Miele, Sub Zero and Thermador. For bathrooms, we provide cabinets and fittings from prestigious brands like Dorn

Bracht, Fantini, Arlex, Hansa, Carmenta and CEA. Finally, to complete the home, we provide a selection of indoor and outdoor Italian furniture, including Arketipo, Veneran and Tao. Tell us about your clients? Although we are based in St Martin, we export our professionalism and “savoir-faire” across the Caribbean, helping clients from around the region to transform their properties in to oases of style. Do you have any advice for readers planning to build their dream home in the Caribbean? Sobriety in design is a guarantee of timelessness. Whatever project you have in mind, it would be a pleasure to assist you at each step of the design process and help make your dream home a reality.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRO M OT I O N

Medicine in Paradise World class medical care, one of the Caribbean’s newest luxuries, is now available in the comfort of your home

While enjoying the tranquil waters of the Caribbean rarely do you think about your health or medical care needs. The reality is, even in paradise, people become ill or require routine medical care. Local medical care may not meet your expectations. It’s true, there is a large spectrum of medical facilities in the islands. Some have limited medical clinics, whereas others have fully staffed hospitals. However, very few of these facilities meet the standards seen in the United States or Europe. Currently, many affluent people travel to the United States or back to their home country for medical care. Elite Global Medical Solutions, LLC (EGMS) can save time, money and frustration by eliminating this burden. Chris Dorothy, DO, FCCP, CEO of Elite Global Medical Solutions, LLC has developed a unique medical service specifically designed to meet these needs throughout the Caribbean. Dr Dorothy has assembled a world class group of US board certified physicians and cutting edge mobile medical technology to provide an affluent client complete medical service while in the Caribbean. The advantage of this concierge service is that it is provided in the privacy and comfort of the client’s location and not in a crowded medical clinic. All Elite Global Medical Solutions, LLC physicians are US board certified specialists and currently practice medicine in the USA. EGMS physicians furnish comprehensive care. This consists of routine and preventive visits to maintain the client’s health as well as having physicians on call 24/7 for immediate response to semi-emergent needs.

The accessibility of medical and surgical specialties within the Caribbean can be very limited. Very few islands can provide the broad spectrum of specialties which EGMS has available. EGMS has recruited medical and surgical specialties which extend from psychiatry to critical care medicine and general surgery to cardiothorasic surgery. The Caribbean has many wonderful attributes but the availability of quality medical equipment is not consistently adequate. Therefore, to provide the best service, EGMS has procured the most advanced mobile medical technology. Examples of these services include, but are not limited to, pulmonary function testing, sleep studies, cardiac testing, and ultrasound imaging. In addition, the mobile laboratory can perform routine tests, such as a lipid panel or advanced tests such as DNA sequencing of certain diseases. As the affluent client resides or travels through the Caribbean, their medical records must be extremely secure but also accessible on demand. EGMS has developed a leading edge electronic medical record which can securely store and maintain all critical medical information. This program far exceeds the US HIPPA requirements and industry standards. As a full service medical concierge service, EGMS can also arrange both transfer and expedited care to the most appropriate medical center in the United States or Europe. The EGMS staff will continue to follow your care and provide consultation as desired.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

LI F E & ST YLE HE ALTH

Food for Thought New York Times best-selling author and world renowned health, nutrition and weight loss guru Dr Fred Pescatore MD advises on what to eat and what to avoid whilst in the islands Dr Fred Pescatore MD

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

Dining and the entire farm to table experience have never had a more prominent place in the way we live our lives today. In fact, many of us travel simply to eat, or learn to cook. But with obesity and diabetes surging worldwide, when we leave home, we canâ&#x20AC;&#x2122;t leave our healthy habits behind. Visitors to the Caribbean will discover cuisines as diverse as the people that live along its thousands of miles of coastline. The islands and countries of this beautiful region have brought us foods that many of us are unaccustomed to: conch fritters,

Image courtesy of the Nevis Tourism Authority

roti, plantains, mofongo, pastelles, fried accra, tannia cakes, ginger beer, sorrel, salt fish, curry goat, mountain chicken, cassava, and soursop to name but a few. The food is a blend of the old world and the new, the imported and the native. Fortunately it is possible to sample local flavours without adding unwanted pounds and staying healthy in the process. As a physician who specializes in health and nutrition, I have long been a proponent of eating fresh, local and seasonal. In the Caribbean this is easy to do. There has

been a real renaissance in local cuisine but prepared in a healthy manner. Farmers and fishermen are starting to take advantage of the growing locavore movement because many Caribbean nations have the ability to benefit from the abundance of the seas and grow a lot of their own food. Throughout the Caribbean fruits just drip from the trees. You can eat them with abandon but only those that are local and those that are in season. Even though it seems as if the Caribbean has no season to us, the fruits and vegetables are very sensitive to the subtle seasonal changes that take place. And besides, if eaten at the wrong time of the year they may make you sick and possibly kill you. Mangoes are particularly rich in prebiotic dietary fibre, vitamin A (less than one provides 25% of the recommended dose of vitamin A), vitamin C and vitamin B6. Some research also points to a protection against leukemia, colon, breast and prostate cancers due to the high levels of antioxidants found in these fruit. Papaya contains more vitamin C (103% of the RDA) than oranges or lemons, and is rich in papain (a digestive enzyme), vitamin A, B6, Folic Acid, B1, Riboflavin (a vitamin B powerhouse) potassium and calcium. In traditional medicine, papaya seeds are considered anti-inflammatory, anti-parasitic and analgesic. Guavas also contain many of these same qualities but not as much as mango and papaya. However, I would steer clear of the breadfruit, and soursop. They are a bit too starchy and aren’t rich in vitamins and nutrients. Many of the fruits of this region are just starting to be recognized by scientists as having special antioxidant properties, like the Caribbean red papaya and the acerola cherry. Antioxidants, or polyphenols to be precise, give fruits and vegetables their color, but, importantly to us, help to fight off disease, protect us from cancer, give us energy and keep us feeling as good as we can. Healthy vegetables include the things you would consider healthy at home: cucumbers, avocado, nuts, okra, eggplant, peppers, lettuces, carrots, and pumpkin. Those to avoid include: yucca, cassava, yams, breadfruit and soursop. When choosing

vegetables, it is important to choose those that are lower in carbohydrate and starch. This will help you to avoid gaining weight especially in the mid section; and are lower in the glycemic index scale so are better for controlling and regulating blood sugar. Too many starchy vegetables can lead to mood swings and low blood sugar reactions such as headaches, excessive sweating and even passing out. Local chicken, goat, beef, mutton and of course fish are everywhere – take yourself down to a local public market. It is one of my favorite things to do anywhere I travel and look at the abundance and the different foods that are available. But, because so many of these vegetables are starchy, they will pack on the pounds pretty quickly so you’ve got to watch out. Be sure to take advantage of local fish – a treat because the Caribbean is a region where the fish are small so you don’t have to worry about mercury levels. Enjoy kingfish, carite, sapatay, red fish and cascadura which is a rare seasonal freshwater fish from the lower Caribbean, said to enhance sexual potency. As bottom dwellers, seafood such as crab, lobster and prawns tend to be higher in mercury, which accumulates in your body and can lead to fatigue and memory loss, so I would recommend indulging in these treats less often. . Many of these healing properties can be combined in healthy, local dishes. Callaloo for example is a spicy side dish made of dasheen leaves (good for lowering blood sugar), okra (a digestive aid), crab, pigtails, thyme, coconut milk (an anti viral and antibacterial), fitweed (which helps the liver to detoxify) and cilantro (which helps to rid your body of toxins). Can you imagine the health benefits of a diet like this every day? There are many wonders to behold in this large, fascinating region and we have only just begun to uncover them. It is possible to eat well in the Caribbean and eat healthy too, so if you work hard all year to stay fit, you don’t have to spoil all that hard effort while on island. Discover more from Dr Fred Pescatore at www.drpescatore.com, Facebook or Twitter @ drfredpescatore

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

“Sweet Gossip”, Sheena Rose, 2012. Acrylic on canvas, 4 ft x 4 ft

LI F E & ST YLE ART

New Voices As artists from across the islands challenge regional stereotypes through a series of exhibitions in world cities, the contemporary art scene of the Caribbean moves into the spotlight Tatiana Flores

For lovers of contemporary art, Caribbean artists are ones to watch. They are gaining attention on a global scale through such high-profile exhibitions as Infinite Island (Brooklyn Museum, 2007), Kréyol Factory (Paris, 2009), Global Caribbean (Miami, 2009-2011), Wrestling with the Image (Washington, D.C., 2011), and Caribbean: Crossroads of the World (New York, 2012). Emerging talent is being fostered regionally in a number of alternative spaces, including Fresh Milk in Barbados, Popop Studios in the Bahamas, Alice Yard in Trinidad, and Tembe Art Studios in The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

LIFE & ST YLE ART

Top Left: “Balance”, John Cox Bottom Left: “Water, Winter, Ancestor, Midnight”, Lillian Blades, 1999. 4’ x 4’ mixed media assemblage

Top Right: “Imperial”, Holly Bynoe, Digital Collage, 2010 Bottom Right: “Gold Standard”, Hew Locke, 2012. Bill board poster-sized prints pasted on building, London. Photo © Indra Khanna

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

Suriname, and curators are flocking to the area to seek out new voices. Because the Caribbean is so decentralized, and many Caribbean artists live outside the region, navigating the contemporary art scene is not necessarily straightforward but it becomes easier when you know where to look. ARC, a deluxe magazine covering contemporary artists, offers a platform for the promotion of Caribbean art, both through its print publication and website (www.arcthemagazine.com). Its founding editors Holly Bynoe and Nadia Huggins (St Vincent & the Grenadines) are both artists themselves. Bynoe is a digital collage artist whose work explores themes of history, memory and identity. She layers photographs and documents culled from her familyâ&#x20AC;&#x2122;s archives to create complex compositions that question the veracity of images and suggest that the past is unknowable. Huggins is a photographer whose work confounds expectations related to place, race, and gender. Her photographs project a Caribbean that is far removed from tourist fantasies. Through ARC and their own work, Bynoe and Huggins dispel stereotypical notions of the regionâ&#x20AC;&#x2122;s art and call attention to its intelligence and sophistication. Other important sources include the journals Small Axe, Calabash, Caribbean InTransit and Draconian Switch. Contemporary production is dynamic and powerful, leaving memorable impressions. Ebony G. Patterson, an artist from Jamaica living in the United States focuses on youth culture, deconstructing stereotypes of race and gender through photography and mixed-media. Hew Locke, an artist of Guyanese descent residing in London, is among the most visible internationally, having catapulted to fame with his subversive portraits of Queen Elizabeth II. Through sculptures, paintings, and prints, he exposes the hidden mechanisms of globalization and colonialism. His most recent series consists of drawings and other interventions on share

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LIFE & ST YLE ART

“…Caribbean artists are making a powerful contribution to contemporary art…”

Top Left: Untitled I (Khani+di Krew) From the Disciplez Series, 2009. 21 in x 22 in Variable Edition Mixed Media Print, Ebony G. Patterson Right: “Sleeping with Snakes”, Nadia Huggins, 2007 The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

certificates, which the artist considers “a window into the history and movement of money, power and ownership.” Gold Standard, his latest work, enlarges the share certificates and transfers them to the walls of a public building in London, juxtaposing the map of Africa and the Rastafari Lion of Judah to a French certificate from Ethiopia. John Cox from the Bahamas paints with vivid colors and bold surface patterns, placing the human figure, often himself, against abstracted backdrops that suggest multiple possible narratives. Tropical motifs, such as hibiscus flowers and uprooted palm trees, abound in his work, calling attention to the artist’s desire to single out stereotypes for criticism. His fellow Bahamian Lillian Blades, who lives in Atlanta, also employs strong colors and dynamic patterns in her assemblages, but her work draws more directly on African-American visual traditions, as in the piece Quilted Passages, on view at the Hartsfield-Jackson Atlanta International Airport. In this and other works, Blades refers to the gendered art of quilting, rooted in “ancestral and matriarchal visual traditions.” Sheena Rose from Barbados also references textiles in her latest series Sweet Gossip. In these large-format paintings, the artist represents young women wearing traditional African batiks on the phone against an intensely patterned background. Both Rose and Pauline Marcelle from Dominica have traveled to Africa and drawn inspiration from its cultures and traditions. Addressing themes of history, identity, and place through images, Caribbean artists are making a powerful contribution to contemporary art. Tatiana Flores, PhD is an art historian and independent curator. Author of Mexico’s Revolutionary Avant-Gardes: From Estridentismo to ¡30-30! (forthcoming from Yale University Press, 2013), she co-curated, Wrestling with the Image: Caribbean Interventions at the Art Museum of the Americas in Washington, D.C. with Christopher Cozier. She is Assistant Professor in the Department of Art History at Rutgers University, with a joint appointment in the Department of Latino and Caribbean Studies.

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LI F E & ST YLE ART

One Small Step Having exhibited extensively in Europe, the USA and Africa, Dominican artist Pauline Marcelle is preparing for an upcoming solo exhibition of her work in Austria. Here she talks about her influences, inspiration and journey from the beaches of Dominica to the shores of Ghana Robert Cooper

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“ Bend Down Boutique 61”, Pauline Marcelle, 2012. Oil/Canvas, 60 cm x 80 cm

Vibrant paintings of Zulu market scenes, twisted piles of fabric washed up on a Ghanaian beach, almost erotic video installations of people devouring tropical fruits. The works of contemporary artist Pauline Marcelle bridge the everyday and the extraordinary, and tell the tales of journeys and human encounters. Her personal journey starts with her childhood in the beautiful Dominica. “I was born in the small fishing village of Calibishie, on the North East of the island. I grew up with my grandmother on the beach front and spent most of my time by the sea. Living in a quiet village, there wasn't much to do, so I had to create my own little world which consisted of painting with mud and colouring made from a plant called Oucou, which the Carib Indians used as food colour and for decorating their bodies.” “I started drawing my feet when I was a child as I could take them wherever I went. Drawing my feet was the easiest for me. I was my own model and I practiced drawing them anywhere and everywhere I could. For my stature I have relatively big feet, size 41. They were just ever present.” Marcelle has come a long way since, both in terms of geography and in terms of artistic achievement. One small step to the capital Roseau led to a giant leap onto the world modern art stage. “In my early teenage years, I attended art classes held by missionaries in Dominica, which were held next door to my home in Roseau, the capital, where I went to a catholic high school. I then migrated to Brooklyn, New York with my family. I completed my studies in Fine Art in Vienna and now live and work in both Austria and Dominica.” “I recently took part in the About Change exhibition for the World Bank Art Programme and Wrestling with the Im-

age at the Art Museum of the Americas in Washington DC.” Despite the long journey from the island home of her childhood, the beautiful Dominica remains central to Marcelle’s life and a strong influence on her. “Growing up in Dominica was pure Eden, a jungle, and the way of life evokes creativity in every way and in everyone. In Dominica, my spirit is at home in body and soul. It has kept me grounded and gives me endurance and dedication. The intensity of greens force me to search for other colours. The laid back living gives one time to see valuable details in everyday living that do not have much significance in our more modern day lifestyle.” “Dominica is my biggest source of inspiration, feeding me with ever changing and ever recurring images, infusing my bodies of work, which give me energy to express myself through and within colour and composition.” Marcelle now spends much of the year living in Vienna, Austria. I ask her whether she ever feels disconnected from the energy of Dominica which so inspires her work. “I studied in Austria and make a living here. I have a family with two daughters here who I adopted from Dominica. Dominica is very present in my home, music, language and culture so I never feel disconnected from Dominica.” Marcelle’s work tackles the subject of human meetings and encounters in all their variety. Digital prints are reproduced, manipulated and re-worked through layers of hand painting to the point where the distinction between the mechanically produced and hand painted elements becomes impossible to discern. Areas of rich, primary colours are surrounded by spaces almost free from colour to create abstract forms.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

LIFE & ST YLE ART

“…Dominica is my biggest source of inspiration, feeding me with ever changing and ever recurring images…”

The results are bold, commanding works of art infused with movement and energy that draw the viewer in. In 2006 Marcelle travelled to Ghana. This journey inspired her on-going series of work Bend Down Boutique. In the Zulu language buying literally translates as “bend down” and second hand clothing markets are referred to as boutiques. In Ghana where the initial concept of Bend Down Boutique evolved, they are called “obroni wa wo”, which literally means “clothing of the dead whites”. She explains what inspired the paintings. “The series Bend Down Boutique is based on my journey to Ghana, which took me to the coastlines where piles of t-shirts, trousers, textiles, fishermen’s nets, shoes, ropes and contents of the ocean formed sculptural bodies of sea-washed debris on the beach.” Through Bend Down Boutique Marcelle explores the story behind the sculpture-like bundles of European clothing and fabric that wash up on to the beaches of Ghana. She raises challenging questions about globalization and the movement of people and goods around the world.

“The term Bend Down Boutique or second hand clothes in itself, narrates the journey and destiny of the wares of relief establishments of the waste-oriented society, to street vendors in poorer countries around the word and sometimes back to the USA and Europe by refugees, turning the charity phenomenon into a paradox on the roadside markets, and on the shores and coastlines of the developing nations, where progress and poverty go hand in hand.” The next leg of Marcelle’s personal journey took her to South Africa. A four month residency at the Bag Factory in 2010 in Johannesburg inspired a new series of Bend Down Boutique. As Marcelle’s journey continues, the Bend Down Boutique series also continues to evolve. “I am continually working on the Bend Down Boutique series, producing more paintings, drawings and sculptures. I am also currently working on my first solo catalogue of works scheduled to be presented early next year.” Be part of the next leg of Marcelle’s journey, visit www.paulinemarcelle.com

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

“Bend Down Boutique 67”, Pauline Marcelle, 2012. Oil/Canvas, 80 cm x 60 cm

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

LIF E & ST Y LE FAS H I O N

Caribbean Fashion Steps Out As Caribbean fashion enters the spotlight, fashionista Romae Gordon takes a look at some of the region’s hottest talent Romae Gordon

drenna LUNA

This past summer marked 12 years of Caribbean Fashionweek (CFW ) and Kingston, Jamaica once again played host to an eclectic and international fashion set. Not only was this a significant milestone for a city that is fast becoming the cultural capital of the Caribbean, but Kingston proved it was the hotspot for the 50 designers who presented collections at the region’s seminal fashion event at a time when Jamaica celebrated its 50th anniversary. Globally recognized supermodels presented glorious fashions from home grown designers who drew inspiration from the plains of Africa to the shores of our beautiful Caribbean isles. Traditional prints and patterns took on modern interpretations and the overall aesthetic was as light and colourful as it was modern and urbane. Long floaty resort

dresses gave way to polished and proper tailored suits as well as fitted tubes accentuated with a bit of bling for the young and lively who simply just want to enjoy a night out on the town. Plus, given the significance of the year 2012 and, with a Bolt of lightning expected to strike in London more than once during the 30th Olympiad, athletic gear hit the CFW runway courtesy of Cedella Marley, daughter of Jamaica’s finest musical son - Bob Marley. With the entree of the Caribbean Collections at London Fashion Week in February of 2012, Caribbean fashion has truly gone global. Five design houses representing the region’s finest established and emerging talent were selected to return to London in August 2012 to present collections as part of ‘London Engage’, an initiative facilitated by the Caribbean Export Development Agency.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

LIFE & ST YLE FASHION

David Andre, Haiti David Andre consistently draws inspiration from his beloved Haiti for his collections. His Sea, Sex, Sun resort line radiates the Caribbean nature with the choice of colours, from cloudy whites and sandy beiges to fruity vibrant hues. Fabrics are breathable natural cotton and linens. Andreâ&#x20AC;&#x2122;s clothes are easily transferable and as great a fit for the beach as for an afternoon stroll or for cocktails to celebrate a sun soaked day spent in a heavenly location. www.facebook.com/davidandrecollection Veve by Phelicia Dell, Haiti The Veve line represents the artful mingling of traditional Haitian designs of lively patterns with a contemporary slant and a clear focus on handbags. Dell incorporates decorative materials of various textures and couples them with beading and sequins to create original clutches, totes and shoulder bags. The finish and stitching makes each piece a work of art that has caught the eye of international fashion design icons like Diane von Furstenberg who collaborates regularly with Dell. www.vevecollection.com Meiling,Trinidad A master of clean, crisp lines and understated elegance, the Meiling tradition is renowned around the region. The grand dame of Caribbean fashion began her career in England where she studied fashion before returning to her native island. With a solid commitment to individuality and expert craftsmanship, it is no wonder that the Meiling client remains one for life. Throughout her career, Meiling has been commissioned to produce special lines, be it for Carnival in her native land or high fashion gear for the uber chic Absolut brand of Sweden. www.meilinginc.com

Top: Sea, Sex, Sun Collection by David Andre, 2013 Bottom: VeVe by Phelicia Dell Right: Resort Collection by Meiling, 2012, courtesy of Calvin French The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

LIFE & ST YLE FASHION

The Caribbean Property Investor Issue, 3 | 7thHeavenProperties.com

Left: Zilver by Atelier Dore Top and Bottom Right: On Wings Collection by drenna LUNA, 2012

Atelier Doré, Suriname Henk and Judith Uiterloo adopted Doré & Co from Henk Uiterloo Snr. in 1996. The couple renamed the company Atelier Doré. It is in this quaint atelier that modern Surinamese designs, mainly made of silver are crafted by hand, guaranteeing the quality of craftsmanship imbued by its original founder. Exceptional pieces are exquisitely created exclusively for clients and silver has never before seen such extraordinary form from the gem of Caribbean jewellery makers. It is no wonder that this brand has found its way to the British royal family. The Queen Mom had a Doré piece as part of her no doubt extensive jewellery collection. www.zilverbyatelierdore.com Drenna LUNA, Jamaica As an emerging design house, Drenna LUNA has already made some classic fundamentals of style and elegance, the foundation of its fashion philosophy. Simple silhouettes in solid colours are standouts while prints are cut in clean lines and are also both fun yet practical. Wearability and functionality seem to be of central focus for designer Arlene Martin. www.drennaluna.com

LI F E & ST YLE RUM

Smooth as Silk World renowned as a playground of celebrities and supermodels, the French Caribbean island of St Barth is fast becoming known for rum as lustrous and alluring as the island itself

Synonymous with elegance, glamour and quality, St Barth is known the world over as the destination of choice for the most discerning traveller. Its promise of a first class Caribbean experience with a distinctly Gallic flair has made its white sand beaches and chic villas a magnet for the jet set crowd. In March 2011 an authentic rhum agricole range was launched that The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

captures the unique qualities that make St Barth so special. R. St Barth was born and has quickly emerged as the drink of choice for the discerning connoisseur. R. St Barth is the creation of French International Football player Mikael Silvestre. Inspired by memories of childhood holidays spent in French Caribbean sister island Guadeloupe and a decade visiting in St Barth with his family throughout his career as a professional footballer, Mikael set out to create a collection of rums that encapsulate the authentic aromas, luxurious flavors and refined taste of the French Caribbean. Unlike traditional rums which are made with molasses, the base of French West Indian rhum agricole comes from freshly pressed sugar cane juice. The sugar cane is harvested when at its richest between March and April, just before flowering. Cut mostly by hand to preserve its purity and taste, the sugar cane is crushed to break

open the cane fibers. It is then pressed to release the vesou (juice), which is carefully filtered into open vats. Over 24-48 hours, natural yeasts in the open air convert the sugar in the vesou into a grappe (“wine”), which is then heated by an expert distiller who has complete control over the temperature. The vapor is collected, condensed and rested to create hand-crafted rum of exceptional quality. The result is a flavor which is tantalizingly fresh, warm and smooth. R. St Barth, which was nominated for Best New Boutique Rum 2011 at the Golden Rum Barrel Awards, produces only 30,000 hand-finished bottles per year. The range includes three rums – Blanc, Ambré and Hors d’Age – all of which were awarded Bronze Awards at the International Spirits Challenge 2012. R. St Barth Blanc “Cool ”, which was awarded Gold at the Rum XP Awards in 2012 by an international rum expert panel,

has a light flavour with hints of citrus and earthy undertones. It provides a flexible base for good quality cocktails. Try stirring 2 teaspoons of cane sugar and a wedge of fresh lime into 1.5 oz Cool to create the perfect Ti’ Punch, the citrus-sweet French Caribbean version of the daiquiri. The 4-year old R. St Barth Ambré “Chic” has been aged in re-charred Bourbon for a unique taste. Sweeter than Cool, Chic is smooth on the palette with rich tones of vanilla, spices and caramel and the warmth of Bourbon barrel. These qualities make it a softer introduction to an agricole rhum, ideal for cocktails. Only 5,000 bottles are produced per year. The 12-year old R. St Barth Hors d’Age “Authentique” is the crown jewel of the range. Aged in oak barrels, only 2,000 bottles are produced per year, each individually numbered. With a flavour palate of plum, cherry, spices, licorice, vanilla, cinnamon and choco-

late with a slightly smoky finish, Authentique is best enjoyed neat and slowly savoured. R. St Barth’s own boutique, located in St Barth’s capital Gustavia, offers tastings of each variety, and often serves a Ti Punch in the afternoon, or a cocktail of the week to demonstrate the flexibility, natural flavours and aromas of the range. In addition to providing an area for private tastings and degustations, the boutique, the brainchild of Mikael and his wife Severine, plays an integral role in the production process: All hand-finishing takes place there. Drop by to sample the range. R. St Barth is also available at the best hotels in St Barth, as well as various locations in the UK, USA, Sweden and France. The boutique, located at 25 Rue du Genéral de Gaulle, Gustavia, is open from 10:00 – 13:00 and 16:00 – 19:00, Mondays to Saturdays. The store is closed during September.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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. 26.

14.

18.

11.

13.

27.

1. 23. 20. 2. 21. 15. 10.

19.

22. 24. 3.

16.

12. 25.

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.

17.

The Dominican Republic Grenada Jamaica Mexico Montserrat Nicaragua Panama

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

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

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Life of Luxury — Anguilla Elegant Spacious Villa, Lockrum Argianno is the epitome of Caribbean luxury living. It is a beautifully designed, spacious villa on the southern coast of Anguilla with unrivalled views over the Caribbean Sea to St Martin. Located on a 0.60 acre manicured plot, this elegant home is hidden away down a private road in Anguilla’s fashionable West End. A unique marble staircase leads to four air-conditioned ensuite bedrooms. The house includes a well-fitted kitchen, large great room and stunning dining room, which opens on to a travertine pool deck, stunning infinity pool and lawned garden. Enjoy the fantastic sea views from the pool or take a few steps down a path to a small sandy beach. Offered at: From US $2,200,000

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. A brief interview with a Government representative is required. Approval takes approximately 3 months. The Government also requires payment of a onetime 17.5% stamp and transfer tax at closing.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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

Sun, Sand & Sea — Antigua & Barbuda 4 Bedroom Oceanfront Residence, Dickenson Bay Located between the world famous Dickenson Bay and Runaway Bay on the headland of an exclusive gated community, this newly completed property boasts spectacular views of the azure Caribbean Sea. With 8,000 square feet of wonderfully planned living space, this secluded beachfront estate comprises a large living and dining room and fully equipped kitchen, all opening out to a magnificent infinity-edge swimming pool. The master suite features his and hers bathrooms, walk-in closets and private terrace area. All bedrooms have high ceilings, en-suite bathrooms and walk in closets. Owners will have the option of a private service dock in the adjacent marina. Offered at: From US $6,500 ,000

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 Richard Branson, 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. The Government has announced the launch of a Citizenship by Investment Programme which is expected to provide a significant boost to the Antiguan property market.

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 the Antigua & Barbuda, contact 7th Heaven Properties:

UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Triple Delight — Aruba, Bonaire & Curacao 6 Bedroom Contemporary Beachfront Villa, Rif St Marie, Curaçao Built in 2011, this house is a masterpiece of contemporary design. The property encompasses over 6,000 square foot of finely finished living space on a 64,500 square foot lot with private beach. The spacious double height, open plan living room includes a TV area, dining area and kitchen. 7 metre high ceilings and vast folding glass doors opening to a sea view provide a wonderful sense of space and light. From the Villeroy & Boch bathrooms to the Poggenpohl kitchen the house is finished to a very high standard. The 2 terraces, Jacuzzi, spacious beach palapa and swimming pool equipped with salt electrolysis and automatic pH control make life outdoors as pleasurable as indoors. Offered at: From US $3,600,000

Go Dutch Collectively known as the ‘Dutch Caribbean’, the ‘ABC Islands’ are culturally and geographically distinct from other Caribbean islands. All three share common historical ties to the Netherlands, the legacy of which includes Dutch place names and well-preserved architecture. They also 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.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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

Warm Welcome — The Bahamas 10 Bedroom Luxury Waterfront Residence, Paradise Island Situated amid 3.75 acres of palm tree studded grounds, this immaculately maintained home enjoys 1,750 feet of water frontage on two sides, including a white sand beach. The property comprises a main house, 2 guest cottages, self-contained staff quarters, 60 foot swimming pool with elegant pavilion and a fully restored 19th Century gunpowder room featuring its own dock with slips for 12 boats. With an open plan layout, wrap around patios, high tray ceilings and a fully equipped gourmet kitchen, the estate is ideal for entertaining on a grand scale. The property comes complete with 3 docks, a large flat area ideal for use as a helipad, 2 standby generators, standby rainwater tanks, stainlesssteel electric shutters, a standby reverse osmosis plant, a new breakwater and a strong seawall.

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

Offered at: US $24,000,000

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PROMOTION SUFFOLK COURT

Exhale… You’re in Grand Bahama The luxury waterfront residences of Grand Bahama’s Suffolk Court offer more than a few reasons to relax and rejoice

In 1492 as Columbus and his crew approached the Bahamas for the very first time, he described how “everyone breathed afresh and rejoiced”. Fast forward 500 years and the feelings of visitors to the stunning island chain remain the same. Just a hop, skip and a jump off the coast of Florida, the chain of 3,000 islands, cays and islets comprising the Bahamas perfectly blend the relaxing ambience of a tropical paradise with the conveniences of first class infrastructure (highways, utilities and telecommunications services). Grand Bahama, the archipelago’s fifth largest island, is a mere 56 miles from Florida. The ideal Caribbean hideaway, it is renowned for its beautiful scenery, calm waters and soothing atmosphere. The family friendly island offers something for everyone: Exploration, activity, and, of course, relaxation. Endless white sand beaches and enchanting turquoise sea are the setting for Suffolk Court, a private peninsula of waterfront residences located in a private, gated six-acre development within the tax-free zone of Freeport. Set adjacent to Xanadu Beach, made famous by previous owner and resident, Howard Hughes, Suffolk Court is

just minutes from Freeport and a ten-minute drive to Freeport International Airport. For the discerning investor, the residences offer luxurious accommodation in a convenient, secure environment with a local management team to make the initial purchase and on-going visits a breeze. Managed by the owners of leading hotels such as Antigua’s Carlisle Bay, this highly sought-after development, is surrounded by tropical gardens and lush waterways, providing privacy for residents. Enjoy views from your private balcony over the canals towards Xanadu Beach or the beautifully landscaped gardens. Walk from your patio straight onto your boat moored at one of the berths or take a short stroll to the white sand beach and warm sea. The surrounding waters are home to one of the world’s largest coral reefs. Divers will be in scuba heaven. Enjoy kayaking, windsurfing and sailing – the island’s location is ideal for exploring neighbouring islands. On land, Grand Bahama also has an incredible eco-system with thousands of native species of flowers, shrubs, trees and exotic birds. Getting to Suffolk Court couldn’t be easier – just a 50 minute flight from Miami or Fort Lauderdale, 2.5 hours from

New York and only 3 hours from Toronto. From the UK, flight time to Miami is just over 8 hours where you connect to reach Grand Bahama. US Airways, Delta Airways, American Eagle, Bahamasair, Silver Airways, WestJet and many other airlines fly to Grand Bahama. Suffolk Court makes financial sense too. High rental demand means the units are income generating. Also, as one of the world’s low-key tax havens with a stable, democratic government, the Bahamas has no income tax, VAT or capital gains tax. An investment of $500,000 in property enables a foreign buyer to become a resident in a straight forward process which requires no licence, except for purchases of over five acres of land or undeveloped land. Legal fees are reasonable at around 2.5% and stamp duty ranges from 2% to 12%. Now, there’s a few reasons to rejoice! To take advantage of a limited offer of lifetime membership for two at the Ruby Golf Course and for more information, visit www.suffolkcourt.com or contact Rudy Meadows, Harcourt Developments Bahamas Limited, telephone: 001 242 351 5063 to arrange a viewing.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Beyond Compare — Barbados 6 Bedroom Contemporary Beachfront Villa, Rif St Marie, Curaçao Set amidst manicured gardens on Barbados’s exclusive Platinum Coast, this sumptuous property overlooks the Caribbean Sea. Each of the 8 lavish residences is finished to a standard that is beyond compare. The residences are finished with hand carved Barbadian coral stone and Italian marble. The enormous bespoke kitchens are fully equipped. Residents can enjoy the property’s large infinity pool, private beach, gym attended by a 24-hour concierge, discreet security, porter, valet, chauffeur, reception, laundry and pool staff. The legendary Sandy Lane Hotel and its spa and championship golf course is a short stroll away. For buyers seeking the ultimate in privacy, refinement and security, there is surely no other option.

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?  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 Barbados, contact 7th Heaven Properties:

UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

Offered at: Price upon request

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

Reefs & Rainforest — Belize Exclusive Private Island Homes, Rendezvous Island A selection of Pacific inspired homes located on a 15 acre private island off the coast of a magnificent resort. Just 19 exquisite 2 and 3 bedroom villas with plunge pools, a handful of 1 bedroom beachfront cottages and just five 1 bedroom overwater homes on stilts complete with glass observation floors exude low key island luxury. With a 24-hour concierge, restaurant, spa, beach club, fitness centre, pool and helipad, these properties offer privacy and luxury in a spectacular location. Across the water, the 6,500 acre resort also includes a hotel, 263 slip marina, casino, 18 hole golf course, private international airport and miles of perfect beaches.

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 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

Offered at: From US $2,500,000

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Vestal Vistas — British Virgin Islands Waterfront and Hillside Lots, Virgin Gorda On the grounds of a 148 acre historic sugar plantation, fringed by three pristine, deserted beaches on dreamy Virgin Gorda, lies Nail Bay Estates and Resort. 56 acres of lots, just footsteps from the beach or nestled into hillside tropical greenery, where buyers can build their dream home or purchase a custom built, fully furnished luxury property. Enjoy diving, snorkelling or sailing in crystal clear water and sunset drinks at the resort’s on-site bar and restaurant. With utilities buried underground, the majestic views of the Sir Francis Drake Channel and neighbouring islands are unobstructed. Paved roads, backup generator power and an on-site dedicated water supply ensure first class services in a destination which regularly features in lists of the Caribbean’s top 10.

Yachtie’s Utopia A destination of choice for the luxury yachtowning super wealthy, the 50 islands and cays of the British Virgin Islands 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 (an internally self-governing British Overseas Territory) also benefits from close links to the UK and EU and a legal system based on English law. Non-resident property buyers require a NonBelonger’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). Typically legal fees come to under 2% of the purchase price whilst stamp duty amounts to 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

Offered at: US $140,000 ~ $800,000

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

Unsurpassed Sophistication — Cayman Islands Beachfront Residences on Seven Mile Beach, Grand Cayman With 60 elegant and luxurious private residences, The WaterColours is the most exclusive condominium community on Grand Cayman’s famous Seven Mile Beach. Choose from spacious three, four- and six-bedroom floor plans, starting at 3,605 square feet. Situated on over 300 feet of prime beach frontage, all residences are ocean facing, offering panoramic and unobstructed views of the Caribbean Sea. This development includes an amenity collection well beyond expectation including: concierge services, owners’ guest suites, boardroom, beachfront owners’ conservatory with wine storage and chef ’s kitchen, state-of-the-art fitness studio, private massage room, valet parking and on-site luxury car service. Offered at: from US $2,950,000

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 the Cayman Islands?  Easily accessible, with one hour

direct flights from Florida and other world destinations.

 No inheritance, income, property or

capital gains taxes.

 Extremely safe with sophisticated

infrastructure.

For details on this property and many others in the Cayman Islands, contact 7th Heaven Properties:

UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Tropical Escape — Costa Rica 5 Acre Mountaintop Luxury Estate, Esparza Set within 5 acre gardens, this elegant estate is comprised of a manor house, 2 guest houses and a 3 story romantic tower. A total of 10 bedrooms accommodate up to 23 people. Created by a wellrespected German architect with Costa Rican hardwoods, the high-ceilinged manor house contains 4 spacious bedrooms, connected by a Grand Salon, as well as a formal dining room, library and media room. Overlooking the Pacific Ocean and the Gulf of Nicoya, the grounds include a signature swimming pool with swim up bar, Jacuzzi, miniature golf course and tennis court. Completing the estate, the tower houses a gym, plunge pool and spa. Offered at: From US $5,900,000

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. However Costa Rica’s appeal is not limited to natural beauty. With friendly people, a stable democracy, excellent health care (at far lower costs than in the US), one of the world’s highest literacy rates (95%), high quality private schools offering bi- or trilingual classes and a relatively low cost of living, it is no wonder Costa Rica was ranked 1st in the Happy Planet Index. The country has therefore become highly attractive to foreign property buyers. Property can be acquired 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%.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

Why Buy in Costa Rica?  Stunningly beautiful, varied landscape.  Direct flights from the US, Canada and

the UK 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

Rainforest Retreat — Dominica Eco Luxury Villas, North West Dominica Located just a 10 minute drive from the quaint town of Portsmouth and usually deserted white sand beaches, these villas are situated on a breathtaking cliff top location with stunning views of two secluded beaches and a beautiful backdrop of rainforest-covered mountains. Although luxuriously appointed, the eco-friendly villas offer privacy and seclusion in a pristine environment. The villas are designed by an award-winning architect and built from sustainably-sourced Guyanese Greenheart to the very highest standard. Contemporary kitchens come fully equipped, stateof-the-art technology provides creature comforts and bi-folding doors and windows throughout provide ventilation and natural light. In short, these villas represent the epitome of modern minimalistic luxury. Offered at: From US $1,200,000

Untouched Island Dominica is a spectacularly green island of rainforest-covered mountains and rushing rivers in the Eastern Caribbean. Famed for its 365 waterfalls, the world’s second largest boiling lake and black sand beaches, the stunning island is just 29 miles long and 16 miles wide. Besides the unspoilt environment, friendly people, a low crime rate, improved infrastructure and a stable government provide investor appeal. Non-nationals will typically pay around 20.5% of the market value of a property in government fees. 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%. Buyers are also required to pay an Assurance (Memorandum of Transfer) fee of 1%, stamp duty of 4%, judicial fees of 2.5% and legal fees of 3%.

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 3 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Intelligent Investment — Dominican Republic Luxury Oceanview Villa, Playa Coson Located minutes from perfect beaches and the centre of Las Terrenas in Samana province, a rapidly emerging investment hotspot, this stunning contemporary villa was designed for luxury living. Natural sunlight and a fresh tropical breeze pour through the large windows and glass doors, which seamlessly link spacious indoor and outdoor areas. From its elevated position, enjoy spectacular mountain and sea views. This newly built villa is spread over three levels and includes 5 bedrooms, 5 bathrooms, a modern kitchen, gym and parking for two cars. A new highway links Las Terrenas to the capital Santo Domingo in 1.5 hours and with direct flights from world cities including New York, Toronto and London (UK) to the nearby El Catey international airport, miles of beaches, spectacular mountain backdrops and whale watching sites are more accessible than ever.

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. Upon signing a Purchase Agreement, the buyer usually pays a 10% deposit which is held in escrow by a lawyer. A notary oversees the purchase process which typically takes 6-8 weeks. The buyer is then required to pay a Transfer Tax, Stamp Duty and Notary fees.

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

Offered at: US $1,400,000 The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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The Spice of the Isles — Grenada 3,000 sq ft Oceanfront Residences, Grenada Six stunning villa residences beautifully positioned overlooking the ocean with infinity edge pools, uninterrupted views, cooling breezes and total privacy. Designed to be at one with their surroundings, each villa residence is configured as a group of individual structures, which can be enjoyed as one villa, or provide accommodation in four suites. Aramuna will be managed by renowned boutique hotel operator, Bespoke Hotels and will be promoted through Hip Hotels and their truly global network reach. The gated villa development will include a beach club, restaurant and bar on the beach below, accessed by private stairs and a boardwalk beside the ocean. With owners benefitting from room revenue share from the hotel operation, Aramuna is a true investment in every sense.

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.

Very warm, friendly people. 

 Spectacular scenery of lush rain-

forest covered mountains and unspoilt beaches.

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

Offered at: From US $1,850,000

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The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

LALUNA ESTATE GRENADA, WEST INDIES

Seven four and five bedroom villas, and One and Two acre Land lots. Villaowners and Landowners have full access to Laluna Hotel services and amenities. The Estate has a Development Master Plan approved with a very attractive government incentive package. Sunday Times Travel Magazine included Laluna in the list of the â&#x20AC;&#x2DC;100 Best Hotels in the Worldâ&#x20AC;&#x2122;.

For more information, contact Bernardo Bertucci: bb@laluna.com

PROMOTION LALUNA

An opportunity to invest in an exclusive development which uniquely fuses the very best of East and West

Italian Style in the Spice Isle

Laluna Estate is a project of passion. It is the vision of Italian hotelier Bernardo Bertucci, who created the tremendously successful Laluna boutique hotel 11 years ago, on the unspoilt, friendly island of Grenada, in the southern Caribbean. Bernardo was working in the fashion industry in New York, when his dream of building a small hotel in the Caribbean, drew him to Grenada, often referred to as the “Island of Spice”. With a creative team of Italian architects, designers and partners, the 16 suite boutique hotel was built, combining European flair with Balinese style at an intimate Caribbean beachfront setting. With a resident Italian chef in tow, Laluna quickly established itself as the jet set hideaway. An Asian Spa staffed by therapists from Bali and a Yoga Pavilion situated directly on the beach, completed this tranquil laid back resort, confirming it as one of the best destinations in the region. Laluna’s guests certainly agree. Laluna was awarded the Tripadvisor’s Travelers' Choice® 2012 Winner for Relaxation & Spa, and recently the Tripadvisor’s Certificate of Excellence in June 2011, along with inclusion in the Sunday Times Travel Magazine’s list of the ‘100 Best Hotels in the World’. With the resort established and successful, Bernardo has thrown his energy into building seven lux-

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ury villas adjacent to the resort. Utilizing the talent of Italian architect Salvatore Perna, the new Estate will include 4 and 5 bedroom villas on an area covering 6 acres, all uniquely designed to suit the varying topography of the landscape, ensuring privacy and dramatic views of the Caribbean Sea and St George’s, the capital. The completion of the first phase is scheduled for December 2013. Also available on the Estate are 1 and 2 acres lots which, as part of the Development Master Plan, are approved with a very attractive government incentive package. The headaches of second-home ownership are replaced with services and amenities only found in the world’s finest resorts, with the opportunity of an extra income. In fact, villa owners can benefit from a management contract with Laluna and rent their villas out while not using them. Laluna Estate has partnered with Camper & Nicholsons, the company that manages Port Louis International Marina in St George’s (only 10 minutes away from Laluna), to include in the price of each villa a 12 metre berth, with an option to upgrade to a bigger berth. Surely there is nowhere else in the world where the charms of Italy, the Caribbean and Bali combine so effortlessly, and with such style? The TheCaribbean CaribbeanProperty PropertyInvestor, Investor,Issue Issue33 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Golfer’s Getaway — Jamaica 8 Bedroom Villa with Golf Course and Beach Access, Runaway Bay Overlooking Breezes championship golf course and the Caribbean Sea, the magnificent Sevilla Villa is situated in the exclusive Cardiff Hall Estate, a sought after area on Jamaica’s North Coast. Recently refurbished, Sevilla comprises 2 detached properties located 5 minutes’ walk to a private residents’ beach. Backing on to the 7th hole of the golf course, the main villa is spacious. 4 en suite bedrooms are built around a large oval swimming pool, veranda and living room. Separate to the main villa, there is a 2 bedroom ground floor suite, self-contained penthouse suite with sea views and an en-suite staff bedroom. The property is income generating, with on average 25-35 weeks per year rented at US $3,500 - $4,200 per week.

One Love 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

Offered at: US $1,100,000 The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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Mayan Magnificence — Mexico Exquisite Waterfront Homes, Punta Kalia, Puerto Cancún An exclusive gated community of 9 lavish residences, complete with private docks for yachts up to 65 feet and 24 hour security. Offering stunning views of the turquoise Caribbean Sea, the 12,144 square feet residences include 5 bedrooms, sumptuous living and dining rooms, pool with jacuzzi, terrace and private garden. The homes feature floor to ceiling windows, maids’ quarters and marble flooring and can be delivered “turnkey” with beautiful furniture and equipment. Residents can enjoy use of a private clubhouse and beach club, including swimming pools, gym, spa, restaurants, beach access and docking facilities for boats, we well as the nearby 18 hole championship golf course and mega yacht marina. Offered at: From US $4,400,000

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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 megadiverse 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 have drawn millions of tourists and home buyers. With the historical aim of preventing foreign invasion, the Mexican constitution prohibits foreign ownership of land within 31 miles (50km of the coastline). To bypass this, a system was introduced in 1973 to enable foreign nationals to purchase property through a “fideicomiso”, a bank-held trust which the buyer becomes sole beneficiary of.

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 3 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Mountain Sanctuary — Montserrat 2 Bedroom Private Estate with Spectacular Ocean Views, Woodlands Tucked away on Lawyers Mountain, Royal Palm is a nature lover’s delight. The 2.75 acre property is surrounded by exotic palms, tropical plants, flowering shrubs and fruit trees with terraced gardens and private nooks to explore. The main house is built in a West Indian style with gingerbread façade, wooden shutters, green heart floors throughout and a breezy gallery at the entrance of the home. A gallery on the opposite side of the house provides spectacular views of the ocean, the neighbouring island of Nevis and to die for sunsets. There is a master bedroom suite on each level, a large formal living/dining area and well equipped kitchen with ocean views. The lower level comprises a great entertainment room opening on to the tiled pool deck nestled in tropical greenery. The property is fenced and gated for total seclusion & privacy.

The Emerald Isle The green-carpeted island of Montserrat is most well-known for its grumbling volcano and now defunct recording studios, 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. Beach view 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

Offered at: US $1,100,000 The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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Opportunity on the Horizon — Nicaragua 3.69 Acre Cliff Top Oceanfront Estate, San Juan del Sur This oceanfront property is located in a highly desirable community of over 30 homes in Nicaragua. Comprised of a 3 bedroom main house, and a 1 bedroom guest house and an additional 2 bedroom guest house, the estate can accommodate at least 11 people. Thanks to its cliff top location, the property enjoys superb views of the Bay of San Juan del Sur from the various balconies, outdoor terraces and the 50 foot swimming pool. The property also includes a small gate house at the entrance of the property for security, maintenance and cleaning staff, as well as 2 backup generators and a water storage system, providing privacy, security and peace of mind. Offered at: From US $2,000,000

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TLand of Lakes Nicaragua is the largest country in Central America, sandwiched between Honduras and Costa Rica, with a long Caribbean coastline. With a tropical climate and varied landscape the country is extremely biologically diverse, hence its nickname The Land of Lakes and Volcanoes. Although conquered by Spain in the 16th Century, the eastern seaboard, a former British protectorate, retains an identification with the English-speaking Caribbean and English is widely spoken. Nicaragua’s cultural diversity has produced a creative tradition and earned the country its other nickname, The Land of Poets. Foreign nationals can acquire property in Nicaragua either personally or using a Nicaragua registered corporation. It is vital to undertake a comprehensive title search to ensure ownership is clear.

Why Buy in Nicaragua? Emerging real estate market with 

comparatively low prices.

Rapidly growing tourism destination 

with direct flights from North, Central and South America.

 Attractive retiree incentives, including

duty-free import of household goods, vehicles and building materials.

For details on this property and many others in Nicaragua, contact 7th Heaven Properties:

UK: +44 (0)20 8960 1010 US/Canada: 855 364 8776 info@7thHeavenProperties.com

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Crossroads of the World — Panama 3‒4 Bedroom Homes, Condominiums and Luxury Residences, Panama City A selection of homes located in a beautiful and sustainable community on the Pacific coast just 20 minutes from downtown Panama City and 45 minutes from Tocumen International Airport. This master-planned community will comprise 20,000 homes, schools, shops and restaurants, a championship golf course and medical facilities, all against a lush rainforest backdrop. Whilst the community is designated as a Special Economic Area offering incentives to businesses, almost half the community is protected green space. With en suite bathrooms, staff quarters, covered terraces and access to a spectacular private clubhouse with three swimming pools, these contemporary, energy-efficient homes are the ideal base to live, work and play in one of the world’s most vibrant cities.

Ripe for Exploration Thanks to a business-friendly environment and its strategic location at the crossroads of North and South America and of the Atlantic and Pacific Oceans, Panama’s US Dollar based economy grew by more than 8% per year from 2005 to 2010 and the country is one of the five richest countries in mainland Latin America. With a low cost of living, low crime rate and high quality healthcare, 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. With a wide range of incentives offered to both businesses and retirees, Panama is 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

Offered at: From US $400 ,000

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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Isle of Enchantment — Puerto Rico Beachfront and Golf Condominiums, Dorado Located on the magnificent grounds of a former Rockefeller property, these condominium residences are located in a resort which includes 4 legendary golf courses running through lush jungle, oceanfront coconut groves, and alongside spectacular mountains. This iconic resort community also includes an Athletic Centre, Water Sports Centres, Spa, Beach Club and several dining options. A selection of 3-4 bedroom Mediterraneaninspired golf condominiums offer views of emerald fairways against a backdrop of the beauty of the mountains, while 2-4 bedroom branded, luxury beachfront condominiums are set on a secluded beach along two miles of Puerto Rico’s northern shore. Both condominium types can be part of an optional rental programme.

The (Latin) American Dream The archipelago of Puerto Rico, including the smaller islands of Mona, Vieques, and Culebra is beautiful and rather diverse, varying from lush rainforest and waterfalls to sandy, sun kissed beaches. Having been a Spanish colony for 400 years until ceded to the USA, the culture is equally diverse, blending American, Latin and Caribbean traditions and two official languages: Spanish and English. With its 16th Century colonial architecture and picturesque landscapes, Puerto Rico attracts millions of tourists each year and an increasing number of property buyers. Foreign buyers have the same rights to purchase property as in the USA. Property can also 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

Offered at: Golf Condos from US $830,000; Beachfront Condos from US $2,500,000

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PRIME PROPERT Y RESIDENTIAL

Life’s a Beach — Roatan 3 Bedroom Beach House, Palmetto Bay Plantation Located in a 120 acre eco-sensitive resort renowned for spectacular coral reefs and worldclass dive sites, this beach house is the ideal vacation home. The soft white sand is just a step down from the swimming pool area and the sparkling blue sea provides a magnificent backdrop. Designed in a Balinese style, dark wood features against light, bright interiors provide a contemporary tropical feel to the kitchen-dining room, 3 bedrooms and covered porch area. The beach house comes fully furnished and includes a separate storage building. With all the amenities of Palmetto including the restaurant, bar, pool, beach and dive shop, the property also offers great rental income generating potential. Offered at: US $549,000

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Marine Marvel Located 30 miles off the coast of Central America in the Western Caribbean, Roatán is the largest of the Bay Islands. This 50 square mile island is renowned for lush forests, palm fringed beaches, crystal clear sea and 34 miles of coral reef teeming with marine life. Today, Roatán has a population of 50,000, and is relatively undeveloped, although it is a fast growing tourism and cruise ship destination, boosted by its status as a tax free and duty free zone. Its international airport welcomes direct flights from various cities including Miami, Houston, Atlanta, Toronto and Milan. Foreign nationals can acquire up to 3,000 square meters of land in the Bay Islands. Larger areas can be acquired through a corporation, which a foreign national can be either sole or joint owner of. 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

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Jewel of the French Indies — St Barth 4 Bedroom Magnificent Villa with Panoramic Views, Lurin Beautifully situated high in the hills, this private luxury villa offers 180 degree panoramic views of St. Jean Baie. This is an ideal home for those who enjoy entertaining. Its gourmet kitchen is adjacent to a formal dining room and its spacious living room includes a media area. The outdoor living spaces include multiple terraces, a sun deck and a spectacular two-tiered infinity pool. Lush tropical gardens with a lily pond and a fountain enhance the back of the villa and provide a setting for a Balinese style gazebo. There are four bedrooms with baths en suite featuring outdoor showers and a guest bath. Offered at: US $12,600,000

Gallic Glamour In its mere 8 square miles, tiny St Barthélemy manages to exude a distinct Frenchness, from the glamour of its boutiques and cuisine, to the Gallic charm of local cottages. The island’s rugged coastline, beautiful bays and 17 beaches, have been a playground of the rich and famous for years. Whilst 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.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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 Luxuriously Appointed 5 Bedroom Getaway, St Kitts This one-of-a-kind villa is majestically situated on a cliff in a small, private gated community on the Southeast Peninsula of St Kitts. 8 foot high timber double doors, expansive glass walls, high vaulted ceilings and an open plan design allow uninterrupted views of the 80 foot infinity edge pool, the dramatic coastline and the Caribbean Sea to take centre stage. Every detail of the property has been custom designed to offer uncompromising luxury, from the exquisite timber and marble floors to the automated controls for lighting, security, shutters, air-conditioning, audiovisual and intercom systems throughout. A wine room/library, well equipped gym, home theatre, sunken outdoor fire pit and self-contained staff quarters complete this luxury retreat.

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

Offered at: Price upon request

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PRIME PROPERT Y RESIDENTIAL

Labour of Love — St Lucia 4 Bedroom Exquisite Great House, Cap Estate Designed by renowned Italian architect Mario Spinelli, designer of Mick Jagger’s Mustique house, Manderley was a labour of love for the luxury hideaway’s former owner, the late High Commissioner of the Eastern Caribbean to the UK. Set in two acres of tropical gardens filled with bougainvillea, jasmine and mauve petrea vine, the house includes an expansive Great Room encompassing the entire floor of the main part of the house, a library designed by Crowther of Syon (England) and four en suite bedrooms with views of the pool, gardens and out to sea. From the bathroom of the tower suite enjoy the view of the Atlantic Ocean from one window and the Caribbean Sea from the other. Located in the prestigious Cap Estate, Manderley is just a few minutes’ drive to an 18 hole championship golf course, eight outstanding beaches and the restaurants and facilities of Rodney Bay.

Lushness & Luxury From the iconic twin peaks of the Pitons rising from the sea to the lush rain forest covered interior and the Diamond Waterfalls, 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 property available from intimate villas to luxury apartments, demand for a piece of the island has soared, albeit not quite to the extent of the legendary 18th century battles. Buyers are required to cover the cost 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

Offered at: Price upon request The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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Twin Beauties — St Martin / St Maarten 5 Bedroom Oceanfront Villa, Dawn Beach, St Maarten Located in the exclusive gated community of Dawn Beach just minutes from secluded white sandy beaches, this beautifully designed villa enjoys spectacular views of St Barth and the emerald blue-green ocean. The property perfectly balances a vision of luxury with the needs of everyday Caribbean living. Inside, the villa is light and contemporary. Exquisite use of textures, colours and European furnishings provide an elegant yet welcoming feel and the 5 bedrooms offer beautiful views. Outside, an infinity edge swimming pool is perfectly positioned to take advantage of the oceanfront setting. The property comes fully furnished and complete with fixtures and fittings, automatic backup generator, solar hot water and satellite dish.

A Tale of Two Halves Since 1648, this 37 square mile island has been divided between the French and the Dutch, however island-wide the dominant language is English. 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

Offered at: From US $2,000,000

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The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PROMOTION ST LUCIA

Oceanfront French Plantation Style Villa with Glass Guest House,Vigie, St Lucia

A Perfect Pair As the old home buyer’s mantra goes, nothing is more important than “location, location, location”. The sensational island of St Lucia is a case in point. Lying in the heart of the Windward Islands of the Eastern Caribbean between Martinique, Barbados and St Vincent, St Lucia’s sought-after location was, for many years, a poisoned chalice. From the time it was claimed by the crown of France in the 17th Century, the island was fought over by the British and French, frequently changing hands as the opposing forces battled for control. In 1814 St Lucia finally became a British crown colony but the French left their mark on the island’s culture, local patois, Creole cuisine, music and architecture. The French influence remains to this day. This recently renovated charming home in Vigie, outside St Lucia’s capital Castries, exudes the elegance of a traditional French plantation house with warm wooden walls, high ceilings and charming French Caribbean detailing. A beautiful infinity pool, deck, jacuzzi and gazebo are nestled in luscious tropical gardens. As per the mantra, the property’s location can’t be beaten. It is situated in a very quiet residential area on a stunning, secluded 1 acre plot. The villa’s cliff top position affords breath-taking, unspoilt views of the greenblue Caribbean Sea and Castries harbour. Open balconies take full advantage of the setting. By day, enjoy the sea views as you relax by the pool or on the veranda.

As evening approaches, take in sunsets that dreams are made of. The 3,500 sq ft main house includes 3 bedrooms, 3 ½ bathrooms, 2 spacious living rooms, an indoor dining room, a covered outdoor entertaining area and gym. The en suite master bedroom opens on to a veranda with views over the garden, pool and out to sea. The second en suite bedroom also opens on to an expansive veranda and private outdoor lounge area. Most unexpectedly, the garden hides a wonderful secret. Tucked away, sheltered from public view, is an open plan guest house. Constructed primarily from glass in a contemporary style, the split level Glass House is utterly unique. Double height glass windows allow natural light to pour in, creating a sense of openness. Covering 1,000 sq ft, the Glass House includes a ground floor dining area, living area, bedroom and bathroom. The upper level includes an additional living area. Traditional French Caribbean elegance meets contemporary design in an unbeatable location. What more could you ask for? Offered at: US $2,000,000 For details on this property, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US/Canada: 855 364 8776

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PRIME PROPERT Y RESIDENTIAL

Golden Opportunity — St Vincent & the Grenadines Exclusive Private Island Home, Mustique Perfectly situated on a hilltop on the north east coast of Mustique, this French colonial style villa is surrounded by more than 20 acres of land including fruit trees and flowers, formerly the site of a plantation estate. Considered to occupy one of the best and largest plots on the island, it enjoys outstanding 360 degree views, encompassing St Vincent and Bequia to the west and the east coast of Mustique to the south. The property comprises a series of individual buildings around a wonderful swimming pool connected by wide covered verandas, including a main reception room, dining room, family sitting room, 4 bedroom suites with private shaded balconies, separate staff accommodation and ancillary store rooms. Offered at: Price upon request

Dive In The chain of 32 islands forming St Vincent & the Grenadines (SVG) is unspoilt and untouched by mass tourism. Their beauty, privacy and authenticity have attracted the rich and famous for decades, famously including Princess Margaret and Mick Jagger. Whilst St Vincent is well known for its verdant 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, a low level of crime, and unrestricted foreign ownership of property. 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.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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 3 Bedroom “Lodge” Style Villa, Tobago Bounded by a spectacular, world-class golf course in a luxury gated community, this charming villa includes 3 air conditioned bedrooms located off the living room, each with an en suite bathroom. Doors from the living room and 2 of the bedrooms open on to a pool-side veranda which runs the full width of the house and a delightful gazebo, perfect for entertaining and romantic evenings. Located on a 25,567 square foot lot, the villa comes fully furnished and includes a covered garage and maid’s room separate from the main house. In addition to the golf course, the resort includes an airport, bank, beach, cinema, gym, tennis courts, restaurants and shops. Offered at: US $1,000,000

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Nation of Contrasts While the much larger Trinidad is famous for its spectacular carnival and as the birthplace of the steelpan, 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

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRIME PROPERT Y RESIDENTIAL

Postcard Perfect — Turks & Caicos 3 Bedroom Beach Villa, Parrot Cay Located in one of the Caribbean’s most secluded and exclusive resort islands with an award-winning spa, each of these new 3 bedroom villas is set on an acre and a half of private land, protected by lush, vegetation. Orientated towards the sea to catch the cooling breeze, the 3,670 square foot villas are single-floor homes where the indoor living space extends outdoors onto an extensive Brazilian hardwood deck, flowing into the infinity-edged pool and down to the powdery white beach. The highest standards of contemporary living are reflected in outdoor showers, sun-drenched living rooms and master bedroom suites with sweeping views of the turquoise ocean. Offered at: Price upon request

True Blue Comprised of 40 islands and cays with 230 miles of pristine white sand beaches (including the best beach in the world), secluded private bays, crystal clear waters and beautiful coral reefs, the Turks & Caicos Islands (TCI) is home to a population of 37,000, including a large expatriate community drawn to the stunning landscape and the equally attractive tax environment. Despite being a British Overseas Territory, the official currency is the US Dollar, which has underpinned impressive economic growth. With direct flights to the USA, Canada and Europe, the TCI is renowned as a luxurious tourism destination with a wide range of restaurants, hotels, sailing facilities and one of the Caribbean’s top golf courses. Property for sale includes luxury villas and high end, beachfront resort developments with high rental income generating potential. Nonresidents can purchase absolute freehold title and the buyer is responsible for paying stamp duty and legal fees.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

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 5 Bedroom Sea View Villa, St Thomas Nestled in an enclave of luxury residences amidst a mahogany forest located 850 feet above sea level, this recently modernized and redecorated luxury home offers spectacular views of rich green islets dotted in the turquoise sea and the harbour of Charlotte Amalie. On clear days the southernmost Virgin Island of St Croix is visible on the horizon. The property’s 3,500 square feet of interior space includes 5 air conditioned bedrooms, a brand new kitchen, new bathrooms, dining room, living room and den. The exterior space is almost as large as the interior and features a spacious terrace and 20 foot x 40 foot solar heated swimming pool – the ideal spot for watching cruise ships and sailboats pass by. Offered at: From US $2,175,000

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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. To purchase property in the USVI, buyers will need to engage the services of a title company to ensure there is clear title and a lawyer is required to develop a purchase contract and advise on the best way to hold title.

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

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRIME PROPERT Y COMMERCIAL

Chinese Investment in the Caribbean As the People’s Republic emerges as an increasingly important source of finance for developing countries, the Executive Director, Caribbean of the Inter-American Development Bank shines a light on Chinese investment in the Caribbean A m ba s s a d o r D r R i c h a r d L B er nal

The growing economic involvement of China with the Caribbean countries has been primarily through development assistance in the form of loans financing construction projects. This form of engagement is common to China’s relations with developing countries. At the same time China has become a major source of foreign direct investment particularly in minerals, raw material and energy. Chinese foreign direct investment has been limited in the Caribbean because China has concentrated on financing public and private sector projects involving construction by Chinese firms. China has been involved in financing private sector projects but has not taken equity in these projects. China’s Export-Import Bank of China is providing a 20 year, US $2.4 billion loan to finance the Baha Mar resort development in the Bahamas. Construction will be undertaken by China State Construction and Engineering Corporation. The Bank of China and the Foreign Trade Bank of China have also provided loan financing of $462 million to investors from Spain for the construction of a hotel in Punta Cana in the Dominican Republic. This has been accomplished although the Dominican Republic still recognizes Taiwan and does not have diplomatic relations with China. The Chinese company Bosai Minerals Group purchased a controlling stake of 70 percent in Omai Bauxite Mining, Inc. in Linden, Guyana, in December 2006 for $100 million. Some investment opportunities are based more on location than on size of country, as

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demonstrated by a $2.6 billion port facility in Freeport, Bahamas, that was built and has been operated since 2000 by the Hong Kong–owned Hutchison Whampoa. Complant International, the foreign investment agency of the People’s Republic of China, has purchased three sugar factories and leased 30,000 hectares of cane-growing lands from the government of Jamaica. Complant will invest $156 million in improvements in fields and factories over a four-year period. There has been an accumulation of financial holdings by Chinese companies in the Bahamas and the Cayman Islands, but it is misleading to regard these as direct foreign investment in the Caribbean. These funds are in the process of “round tripping” and therefore headed back to China as foreign investment. It is possible that the ultimate destinations of these funds will be diversified beyond China for investment across the globe including the Caribbean. Prospects for Chinese investment in the Caribbean are encouraging especially in tourism, offshore mining, fishing and agriculture. One possibility that the Caribbean needs to give more attention to is enticing Chinese investment in real estate, in particular luxury resorts. Chinese investors are purchasing luxury properties in New York, London and other cities. This has been accomplished by designing marketing programmes especially for Chinese investors and visits to China by Mandarin-speaking salespersons. The Caribbean should lose no time in doing likewise.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

interview

Sustainable Development = Profitable Development The fragile environment of most if not all Caribbean islands is such that, regardless of what may have happened in the past, the planning authorities are rightly calling for sustainability measures in any proposed new development

Far from this representing a constraint and an unnecessary cost burden, Dr Geoff Seeff, principal of specialist leisure and tourism consultants TPL Associates (“TPLA”), believes that this represents an opportunity for developers and operators of resort complexes to maximise values and improve profits over the long term. Visitor Accommodation The last thing visitors to the Caribbean from urbanised Europe or the United States want to see is more buildings. Of course, they expect their “creature comforts” but, more importantly, they come to enjoy the generally temperate climate, marvel at the beauty of unspoiled coasts and hinterland, to observe exotic marine and wildlife in their habitats and to imbibe the colourful local cultures, albeit at a timing of their own choosing. Not only are they prepared to pay premium rates for these experiences, the less artificial their accommodation and its surrounding environment, the higher the premium. Across the whole region imaginatively designed low rise complexes constructed in timber and local stone exploiting the topography, orientation and features of the landscape are proving increasingly popular. Currently construction costs are not significantly different to those for conventional buildings but, depending on location, produce a yield per room considerably greater than for traditional formula hotels.

Renewables and Energy Efficiency No one is going to claim that installing renewable energy systems or water recycling and control systems at a boutique Caribbean resort is going to save the planet. However, the adoption of environmentally friendly policies on energy and water resources does make a positive contribution towards reducing the impact of climate change and, without question, can benefit the bottom line. Clearly the installation of solar and photovoltaic panels for power and water heating is an obvious solution in countries which enjoy direct sunlight most of the year. Similarly collection of rainwater makes sense where freshwater is scarce and rainfall, when it comes, is plentiful. However, minimising the use of air conditioning, lighting and other electrical equipment in guest rooms such as televisions through automatic controls, natural ventilation and encouraging responsible guest and staff behaviour can also achieve significant cost savings. Laundries and kitchens are big consumers of electricity and again there are practical methods of ensuring that equipment is used efficiently and only when necessary. Currently some 70 hotel complexes across the region have committed themselves to energy and water sustainability and have been awarded Green Globe certification. Ideally the technologies enabling the implementation of such policies need to be

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

designed into the project as they are infinitely more difficult to retrofit successfully. Maintenance Although wear and tear is attributable to many and varied factors, the very attraction of the Caribbean to tourists, the weather and the sea, is a significant cause of damage to the fabric of the region’s buildings. Strong sunlight, high humidity and airborne salinity have a corrosive effect on metal, brick and wood. Traditionally, maintenance was a process that was delayed as long as possible, often until a building or piece of equipment was no longer functional. But conservation is as much an element of sustainability of a project as the materials from which it is built and the manner in which it is operated. Planned maintenance and replacement, best introduced at the design stage, ensures the lowest possible life cycle costs, minimises the need for emergency repairs and allows continuity of operations without loss if income.

This article barely touches on the issues surrounding sustainability and its purpose is simply to illustrate potential benefits. TPLA together with its partners, interdisciplinary technical services practice, McBains Cooper, has over 20 years of experience of advising on successful project development in the Caribbean and in other sensitive locations worldwide.

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PRIME PROPERT Y COMMERCIAL

Seaside Treasure — Anguilla: Oceanfront 5 Villa Luxury Complex Shoal Bay beach on the north shore of the island of Anguilla is widely regarded as one of the best beaches in the world. Reclining sunbathers sink into impossibly soft white sand as they gaze out at the cerulean sea. Overlooking the beach, perched atop “Sea Rocks”, a highly sought-after enclave of luxury residences, sits Casa Almenara. Comprising a main house, five separate 1 bedroom suites, a lagoon style swimming pool, tennis court and gardens, Casa Almenara was designed as a world class holistic wellness centre and retreat. Covering a total of 2.5 acres, the complex elegantly combines contemporary tropical design with Mediterranean touches. The 7,500 sq ft main house will include 2 huge bedroom suites with expansive decks and private outdoor showers to luxuriate in the idyllic surroundings. The five additional suites range in size from 1,150 to 1,400 sq ft. The suites, three of which are built directly into the cliffside, are designed for maximum privacy and to take advantage of the ocean views. Multi-level terraces hug the side of the cliff with stairs leading down to a boat platform, the ideal jumping off point to explore the kaleidoscope of colour swirling around the coral reefs which lie just off shore. Five of the complex’s structures are 80% complete and all construction materials, fixtures and appliances,

including Peruvian mahogany windows and doors and Turkish travertine tiles, are already securely stored onsite, plans can be modified to suit a new owner. The site would be suitable for a boutique hotel, corporate retreat, private home, or private rental villa complex, with an additional 0.5 acre available for further development. Anguilla, in general, and Shoal Bay beach in particular, have established an enviable track record in luxury tourism and prime real estate. The Government’s recent reduction of land purchase tax from 17.5% to 6.5% has further enhanced investor appeal. This oceanfront multi villa complex overlooking one of the best beaches in the world in a safe, secure British Overseas Territory beloved by publicity shy Hollywood stars and politicians alike, represents a truly exceptional investment opportunity. 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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The Emerald Isle Sparkles Again — Montserrat: Investment Opportunities in the New Capital Town In the 1970s and 1980s British Overseas Territory Montserrat was the tropical retreat of choice for rock stars and royalty. The verdant, mountainous island, often called “the Emerald Isle of the Caribbean” because of the cultural legacy left by 17th Century Irish settlers, first entered the international spotlight when Beatles producer Sir George Martin opened AIR Studios in Montserrat in 1979. The recording studio played host to music stars including the Beatles, Elton John, Sting and Eric Clapton who recorded now iconic albums there. Many of these artists fell in love with Montserrat and returned year after year, some investing in holiday homes. The music stars were joined by some of the world’s wealthiest families who could not resist the island’s offer of tranquillity away from the crowds surrounded by warm, welcoming people and dramatic natural beauty. That chapter in Montserrat’s past came to an end when the former capital Plymouth and its port were destroyed by the island’s volcano in 1995. Nevertheless, the island continues to attract a relatively small but dedicated number of overseas visitors who return to their villas year in, year out. The virtues that draw people to Montserrat today are the same as they were during the island’s heyday: peace and quiet, old world charms, safety and security, in short, “the Caribbean as it used to be”.

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Plans for the development of a new capital town and port in the north of the island, an area protected from the volcano, are advancing rapidly. The port at Carr’s Bay is planned to welcome ferries, small luxury cruise ships and leisure vessels to a new waterfront town, destined to be the Caribbean’s most distinct and secluded destination. Residential and commercial investment opportunities in the town will be ideal for retail outlets, restaurants, homes and businesses. At the adjacent Little Bay, an elegant beachfront hotel will command prime position and cater to the most discerning of visitors. The plans for the hotel include a hilltop spa and clubhouse. In the vicinity of the hotel a limited number of high quality residences will be available, offering spectacular views of the sea and the neighbouring islands of Redonda and Nevis. The Emerald Isle is set to sparkle once again and investors will have the unique opportunity to help shape this bright future. For details on how you can be part of this investment opportunity, contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US /Canada: 855 364 8776 info@7thHeavenProperties.com The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRIME PROPERT Y COMMERCIAL

Making Waves — Trinidad & Tobago: Tourism Investment Opportunities Throughout Trinidad & Tobago’s history, entrepreneurs have played a large role in contributing to the nation’s prosperity. In recent times, however, the twin-island nation has enhanced its reputation as an appealing location for investment and business with highly attractive opportunities in the tourism sector. As the Caribbean hub for business, energy and manufacturing, Trinidad & Tobago is recognized as a world class location for investment, a fact borne out by its Investment Grade credit ratings from Standard & Poor’s and Moody’s. With a business-friendly environment, stable political climate and plethora of opportunities for large and small investors (from luxurious all-inclusive resorts to intimate eco-lodges, campsites and zip-line facilities) Trinidad & Tobago has emerged as the Caribbean tourism investment location of choice. Investors benefit from the strength of the Trinidad & Tobago brand in North America and Europe where the destination has won numerous awards, in no small part due to impressive cultural events (such as Hosay, Divali, Tobago Heritage Festival and a world famous Carnival), amazing cuisine and a favourable geographic location which provides easy access to major air transit hubs. Consequently, major international brands long-established in Trinidad & Tobago, such as Hilton, Holi-

day Inn and Marriott, are being joined by new entrants, such as Radisson. A range of incentives have been put in place to attract additional investment, including: Tax exemption not exceeding 7 years on gains or profits from approved tourism projects; Tax exemption on gains or profits from the sale of villas or condominiums that form part of an Integrated Resort Development (IRD); Tax exemption on any dividend paid to a non-resident shareholder if the recipient is not liable to tax on the dividend in the country in which he is resident; Customs and Excise duty exemption on building materials and articles for tourism projects; Importation of a vehicle for use in the transportation of guests/visitors at a reduced rate of custom duty (10%) and exemption from motor vehicle tax; An accelerated depreciation on depreciable equipment; A capital allowance on approved Capital Expenditure; and Carry-over of losses incurred by owner and/or operator during the tax exemption period For a sustainable, high-return investment location, with effective infrastructure in place for public and private sector partnerships, look no further than Trinidad & Tobago. For more details on investment opportunities in Trinidad & Tobago, contact 7th Heaven Properties

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48 Square Miles of Heaven on Earth — Turks & Caicos: Beachfront Development Opportunity While it is the largest island in the Turks & Caicos, at 48 square miles, the beautiful Grand Caicos is also the least populated. Home to just 250 people, Grand Caicos, often referred to as “Middle Caicos”, is renowned for its picturesque stretches of secluded beaches and outstanding natural beauty. Its pristine landscape will soon be the spectacular setting for Aniyana, a proposed 41 acre eco-sensitive, boutique resort and luxury beachfront property development. Aniyana, which takes its name from the native Lucayan Indian name for Grand Caicos, will comprise a limited number of exclusive beach and lagoon-front luxury residences available for ownership, each in its own private setting and nestled in lush landscaped gardens. For the privileged few, Aniyana will offer pampered privacy in nature like nowhere else. In addition to the residences, the low-density development will include a world-class boutique hotel, destination restaurant and spa, which will offer spectacular views over the powder-soft beaches and clear turquoise sea. Mindful of its unspoiled natural environment, the resort is to incorporate a stunning nature reserve which will be a sanctuary for Grand Caicos’s indigenous flora and fauna. The island already includes the largest nature preserve in the Caribbean. In fact, 85% of it is RAMSTAR protected. Development in these areas is strictly

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prohibited, so residents and guests of Aniyana will be amongst the fortunate few to live surrounded by protected natural beauty. With the world’s best beaches, first rate infrastructure, state of the art medical facilities and no personal or corporate taxes, the Turks and Caicos Islands (TCI) has already established itself as one of the Caribbean’s leading tourism destinations and a hotspot for property investment. No wonder the Islands were recently voted 4th best place to live in the world. As a focus for future development due to its pivotal geographic position, Grand Caicos is being recognized as key to the future growth of TCI. Aniyana is expected to be at the heart of Grand Caicos’s future growth. As the only development of its kind with a Development Agreement, contracts and approvals, surveys, land registration and basic infrastructure already in place, Aniyana will be a game-changing project for the TCI and one of the most sought-after investment opportunities in the Caribbean. For details on this investment opportunity, see www.aniyana.com or contact 7th Heaven Properties: UK: +44(0)20 8960 1010 US /Canada: 855 364 8776 info@7thHeavenProperties.com The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

PRIME PROPERT Y INTERVIEW

Homes of the Future As innovation in sustainable development emerges as one of the world’s most critical issues, we talk to British social entrepreneur Charlie Greig about her inspiration, her ingenious solutions Cub and PODPASSIV and their potential applications in the Caribbean Ro b ert Co o p er

What exactly is Cub? Cub is the UK’s first off the shelf Carbon Neutral housing solution, currently the most highly accredited building system available. This turnkey housing solution is fully fitted out and is delivered 12-16 weeks from receipt of order. How does your newest building solution PODPASSIV differ from Cub? A. PODPASSIV is a scalable housing solution built in GRP and recycled steel insulated panel blocks that flat pack into compact units for shipping. The original concept was sparked by the earthquake in Haiti. I decided to utilise my experience designing Cub to provide a sustainable housing solution that was more affordable, could be put together in hours by unskilled labour and would provide an instant solution to housing needs anywhere in the world. PODPASSIV is ideal for a range of uses: Affordable housing, key worker accommodation, disaster relief and leisure. The homes operate in climate ranges from -20 to +60, have a life span of 60+ years and are wind resistant to 100MPH winds. Additional tethering is available for hurricane prone environments. The building can be built laterally to any size and to two stories high. In-built technol-

ogy provides for rain water harvesting. Solar lighting and hybrid self-generating PV systems enable the homes to operate off-grid. We have formed a JV partnership with a leading global manufacturer with assembly plants in the UK, Canada, Russia, Czech Republic, Brazil, France, Canada and the

USA for regional deliveries. Prices range from £11,000 (Sterling) for a 16 square metre building to £38,000 for a 3-bedroom house. What was your inspiration? Having spent 15 years as a traditional developer, I came to the conclusion that changes in legislation and building regulations combined with a severe shortage of housing created an urgent need for a sustainable, efficient solution. Building in factories not only produces better quality housing but reduces construction waste by 90%.

The Caribbean Property Investor, Issue 3 | 7thHeavenProperties.com

What has been the response so far? Cub has generated huge amounts of interest from prime ministers to sustainability experts, but the high code levels mean higher prices which are not suited to these austere times. PODPASSIV is timelier. It beats other affordable housing solutions on price by 30%, doesn’t require foundations, can be built in hours and offers semipermanent or permanent housing immediately. We have received enquiries from all over the world and will start delivering thousands of homes over the coming months. How do you see PODPASSIV being used in the Caribbean? PODPASSIV is a fabulous solution for multi market use within the Caribbean, either for eco resort room pods, pod hotels to two stories high, additional garden rooms or, alternatively, in crisis situations. What’s next for Charlie Greig? I plan to undertake a world tour next year to promote PODPASSIV and fundraise to provide 500 homes for Haiti. After this who knows, I take life as it comes! For more information, please see www.podpassiv.com and www.cubhousingsolutions.com

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