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The Development Details
St Vincent and The Grenadines
Prices Start From £ 180,000
Population 110,000. Why Invest? St Vincent is a new tourist destination mostly visited by day trippers from ocean cruisers. The number of visitors arriving on the island has increased by 25.5% since 2002 and in 2007 increased by 16.5% year on year. Visitors are predominantly from the UK, USA and Canada. In 2006 total expenditure by tourists was $95.6 million. Sunny weather all year round makes it an ideal holiday destination at any time. Currently there are only approx 400 rooms available in hotels on the island, and no hotel above a 3 Star, so there is excellent rental potential for the resort. Property prices are currently a quarter of those in Barbados so now is the perfect time for an early investment in this market as prices will rise when the resort opens as the island becomes more popular due to the increase in visitors. The proposed International airport, which will be completed in 2011, will also encourage more visitors to the island. St Vincent is beautifully unspoilt and underdeveloped and has huge potential for growth. The government is actively encouraging foreign investment and growth in the tourist industry. Concessionary rates of tax payable on property have been introduced - for tourism related development where the occupancy tax is applicable and the annual rental value exceeds $20,000 the tax charged is 1.5% rather than the usual 5%. Also a series of other tax incentives have been introduced - hotels with more than 35 rooms are granted 15 years income tax exemption from date of opening of the resort, an approved construction order grants concessions for construction materials for excise duties and consumption tax and resorts accommodating more than 100 people are exempt from import duties on food and beverages. Please Click here for further information.
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