Investors eye ‘inspiring’ st vincent

The Caribbean Island of St Vincent could turn out to be an investor’s paradise…

Practically untouched along its coastline, St Vincent has awe-inspiring scenery with palm-cloaked mountains, tumbling waterfalls and lush vegetation which earned it the setting for the Pirates of Caribbean trilogy – a major kick-start for a still embryonic tourist industry.

Over 200,000 cruise passengers tested their sea legs on the Island last year and with a chain of 32 tiny islands to explore, the sailing here is amongst the best in the world. However, a quick read of the plans afoot for Buccament Bay and it’s clear that this is just the beginning.

Chris Sawyer, Caribbean expert for GEM Estates comments, “At this moment in time there are only a handful of hotels and therefore practically nowhere for tourists to stay, so the local authorities have welcomed the development of Buccament Bay with open arms. The resort will bring the Island’s first casino, the Island’s first conference Centre and wedding-white sand will be shipped across from Guyana to disguise the natural black sand.

Tax advantages

Chris continues, “In order to make guest’s arrival a smooth experience, the developer has helped to modernize the airport, fill potholes in the road and even purchased three airplanes and two seaplanes to charter clients to the resort from Barbados’ International Airport - although St Vincent’s own international airport is due to open in 2011 in Argyle just 15km away from the resort.”

“With the developer now the second largest employer on the Island after the government, with almost 500 staff, the government has even passed a special act to express their thanks to confirm that purchasers will pay no income tax, capital gains tax or inheritance tax indefinitely. Compound the fact that property prices are around one fifth of the west Coast of Barbados and the developer is marketing Buccament Bay below market value, the investment case here is very strong.”