smc 2014
Post on 21-Jul-2015
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IntroductionWho we are and what we
want to achieve.
• Principal purpose, development
of Residential Tourism products
across the Caribbean, with our
primary focus on the twin island
state of Antigua & Babruda.
• CEO Adam Barrett has been
involved in the development and
marketing of Caribbean real estate
for the last 10 years.
• Authorized CIP representative
and approved developer under
the Citizenship By Investment
Program.
• Strategic Partners – Global Bank
of Commerce and OBMI
The Concept
• Develop a Commercial Hub for the
South West Coast
• Incorporate commercial space, hotel
/ residential components.
• Stimulate the immediate local
community, Constituency of St
Mary’s South.
• Utilize the CIP to expedite
investment and development.
• Build a lasting, positive and revenue
generating center for the
constituency.
InventoryWhat we are building
40 Commercial Units – 500 Sqft per
• Shops
• Restaurants
• Bars
• Office Space
10 Residential Units – 800 Sqft per
• Studio Apartments
• Apartments
80 Hotel Rooms – 650 to 800 Sqft
per
• Single Rooms
• Suites
AmenitiesWhat's included
• 24 Hour Security
• Landscaping
• Laundry Facilities
• Off Street Parking
• Back Up Power
• Property Management
Shopping
Day to day services such as:
• Bank
• Pharmacy
• Dentist
• Optician
• Laundromat
Other Stores may include:
• Clothing Store
• Shoe Store
• Local Produce
• Specialty Stores
• Art Gallery
• Convenience Store
• Liquor Store
Entertainment
• A destination for tourists and locals
alike.
• LIVE entertainment featuring local
artists.
• Farmers Markets and Art Shows to
display the countries natural ability.
• Restaurants and bars. Alfresco
Dining, making the most of the
outdoors.
• Wealthy travellers have more
deposable incomes to spend on
dinners and late night revealing.
• Incorporation of West Coast Village
and new alternatives.
• Variations in cuisine to appeal to
varying palettes.
• Chinese
• Indian
• Local Fare
• Steak House
• Wine Bar, Ice Cream and/or Coffee
Shops
• Nightlife to include Piano Bar,
Sports and late night spot.
Dinning
Hotel
The site is not located on a beach but is within
a three minute walk of Jolly Beach and a three
minute drive of 5 other stunning beaches.
This results in a strong location with a lower
land price point. This opens up a unique
opportunity for low cost hotel brands that want
to operate a hotel property without a large
initial cost.
With this in mind we have approached three
groups to assist in the development of our
hotel concept and received responses from
each.
80 Rooms.
Onsite Bar & Restaurant.
Rate $175 to $220 USD.
Spa & Pool
Concierge
Access to a strong
marketing department
The Demand
There is a serve lack of commercial space.
and increasing demand for it on the West Coast.
1,000 Hotel Rooms in a 5 mile radius.
A constant turnover of tourists looking to make the most out of their Holiday
which all rotates around beaches, shopping and entertainment.
Currently St Johns is the only option.
Most guests staying on the West Coast currently need to travel to St John’s in
order to shop either via taxi or hire car.
There is wealth within the surrounding area.
No other area of Antigua has such an affluent local community with above
average disposable incomes.
Economic Impact
InvestmentUpwards of $19,000,0000 USD.
Construction Jobs70+ Jobs over a four year period.
Economic Empowerment 40 New Businesses in the area
Long Term EmploymentUpwards of 150 individuals
Long Term ABST RevenuesHotel and store sales will deliver long lasting returns to the government.
Citizenship By Investment
• CITIZENSHIP BY INVESTMENT (CIP)
The newly adopted Antigua and Barbuda Citizenship by Investment legislation* allows
foreign nationals to obtain citizenship through an investment in one of the three categories:
• National Development Fund: $250,000 USD
• Real Estate: $400,000 USD
• Business Investment: $1,500,000 USD
• WHAT DO YOU GET AS A CITIZEN
Once a citizen you can travel to more than 130 countries visa free. This is increasingly
attractive to Chinese, Russian and Middle Eastern Clients that have difficult in obtaining
travel visas to visit Europe and North America.
WHO WANTS & WHY CIP?
Global citizenship is becoming an
increasingly popular tool for the world’s ultra
wealthy. There are many different reasons
why an ultra high net worth (UHNW)
individual might seek a second citizenship
including:
• Greater stability & security
• Tax efficiency
• Ease of travel
• Higher standard of living
• Children’s education
• Investment opportunities
ANTIGUA & BARBUDA
CITIZENSHIP BENEFITS
• Approval within 3 months ofsubmission of application
• Visa-free entry to more than 130countries in the world
• NO Personal Income Tax on
Worldwide Income
• NO Estate, Death, Inheritance or
Capital Gains Tax.
• NO restriction on the repatriation of
profits and imported capital.
CIP Demand
China
Russia
Middle East
Europe
Citizenship By Investment Program is new to Antigua but not the
Caribbean. St Kitt’s has been running their program since 1984. In
recent years the real estate sector has exploded and is continuing to
grow.
However, Antigua is a far more desirable destination. It has a low
crime rate, improved infrastructure, a more developed real estate
market and a new citizenship program that has been engineered to
last.
Currently St Kitts has experienced a number of setbacks due to poor
due diligence and quality control that will result in long lasting affects
that will only increase Antigua’s appeal.
However despite this IN 2013 St Kitts generated in excess of
$470,000,000 in Citizenship By Investment revenue from more than
1,400 applicants, according to the IMF.
TARGET MARKETS
Well Known CIP Clients
Gerard DepardieuDepardieu’s desire to leave
France was in fact so he could
become a tax exile. The actor
found himself at the centre of a
debate over France’s proposed
‘super tax’.
Eduardo SaverinThe cofounder of Facebook,
Saverin moved to Singapore. Two
years later, he became a
Singaporean citizen before
cashing in on his shares in
Facebook.
Tina TurnerThe Tennessee native, has
surrendered her US passport
and become a Swiss Citizen.
one. Because of more favorable
taxation as opposed to the US.
CIP and St Mary’s Court
We would look to place the project
into the Citizenship By Investment
Program. Both the residential and
hotel rooms would be offered for
sale under the program along with
the commercial units.
We have discussed this project with
a number of our partners and the
initial feedback has been positive.
Hotel Brand association is also an
attractive aspect.
• HOTEL ROOM - $400,000 USDLocated within a branded hotel, theserooms would be sold with rental returnsto the owner.
• RESIDENTIAL - $400,000 USDLocated above the commercial areathese units would be sold fully furnished.
• COMMERCIAL - $400,000 USDThe commercial spaces would be soldas single ownership and enrolled In theeconomic empowerment program.Giving local business owners rent freespaces for 3 years and the buyer aminimum investment return.
As a way of stimulating the local economy
and immediately eliminating the major
overhead of establishing a business we
would make any CIP commercial units sold
available to business owners or
entrepreneurs within the constituency on a
rent free basis for the first three years of
operation.
All they would be required to do is pay their
own bills, shop installations and adhere to
opening guidelines.
By Selling commercial spaces through the
CIP we will be able to provide local business
owners and entrepreneurs the following:
Modern facilities
Minimum of 500 sqft
Prime location
Property Management
NO RENT for 3 years
CIP Economic Empowerment
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