- August 17, 2017
- Posted by: CIP Journal
- Category: Real estate
Papaya Hotel and Spa is a planned luxury boutique hotel within Rendezvous Bay, the landmark National Park residential community being created on Antigua’s spectacular south coast. Rendezvous Bay on the chic south coast of Antigua is a perfect undisturbed paradise. Visible only to those who sail by, the 700 acres of rolling hills and valley floor are encircled by 1000-foot elevations creating a natural nirvana.
The resort plan includes just 80 exceptional homesites of two to ten acres each, a 50-acre nature park and Papaya Hotel & Spa as its centrepiece. Residential homes in this spectacular new community will offer great personal privacy and easy access to an array of amenities including the organic farm, tropical forest hiking trails, sports facilities, and the nature park behind the renowned Rendezvous Beach.
Papaya hotel and spa is an approved real estate project by the Antigua and Barbuda CIU which requires a minimum of $400,000 property investment to qualify for citizenship under the investment programme.
Scheduled to open in 2017, Papaya Hotel & Spa will be the centrepiece of the exclusive Rendezvous Bay community.
The 55 one- and two-bedroom villas at Papaya Hotel & Spa are the perfect opportunity for fully-managed property ownership within Rendezvous Bay.
Hotel villa owners and their families will be able to use their property and enjoy preferential treatment at the hotel facilities.
Each villa can be purchased as a freehold property and will be operated in the hotel for income production but allow the freeholder up to four weeks of owner time per year for personal usage.
Investors can also purchase a fractional ownership of the villa, which allows for owner occupancy ranging from two to three weeks per year and reduces the investment much closer to minimum required to make an application to the citizenship program.
- freehold ownership of newly constructed, fully furnished properties
- one month’s use per year for free
- special owner rates for additional nights
- no outgoing costs for the first five years
- share of hotel profit
- elegant design, highest quality finishing
- impeccable service and amenities
- Investment with developers and operators with a demonstrable history of providing operating return and capital appreciation
- Ownership in land and property on the most sought after site in the Caribbean
- Ownership in a top hotel in the Eastern Caribbean’s most accessible island by air
- Capital appreciation and income generation opportunity in one of the most popular destinations for wealthy Europeans and North Americans
- Hotel villa owners and their families will be able to use their property and enjoy preferential treatment at the hotel facilities
- The growth of Caribbean tourism
The process of acquiring citizenship in Antigua & Barbuda via a property purchase at Papaya Hotel & Spa is relatively straightforward process
Execute Reservation Agreement
Property 10% deposit payable
Sign Papaya Hotel & Spa Agreement of Purchase and Sale (APS)
Execute forms and submit citizenship application to government
Government Due Diligence fees payable
Government Application Fees 10% deposit payable
Within 3 months
The Antigua & Barbuda Citizenship Investment Unit (CIU) shall notify Approved Agent in writing whether the application has been approved, denied or delayed for cause and is still being processed.
CIU Approval-in-principle received
Property Purchase Price balance payable
Government Application Fees balance payable
Property purchase closes
Property ‘Certificate of Title’ sent to CIU
Submit Passport Application (10 days processing time)
Certificate of Title
Property & Citizenship Costs
Example Quote for one-bedroom villa (Main Applicant + Spouse)
|ONE-BEDROOM VILLA||EQUITY SHARE (US$)||WHOLE OWNERSHIP (US$)|
Property Tax (2.5%)
Government Application Fees
Government Due Diligence Fees
|TOTAL||$ 529,612||$ 944,224|
Please note: Total price varies depending on number of applicants. Legal Fees are not shown here and are subject to market jurisdiction standards.Total price varies depending on number of applicants. Legal Fees are not shown here and are subject to market jurisdiction standards.