Buyers Information Pack - English - banyan tree

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keeping requirements and comprehensive confidentiality features. They can be set up within 24 hours by non-resident shareholders and the annual fees are low. An IBC cannot hold an interest in any Seychelles immoveable property, however it can hold an interest in shares, thus it could hold shares in a local property holding company. It is regarded as a foreigner for these purposes, so sanction will be required for the IBC to own such shares. SALE AGREEMENT Q How do I reserve a villa in The Ocean Estate? A A villa can be reserved by signature of a Reservation Agreement. In terms of such agreement a reservation fee of $30,000 is to be paid into an escrow account, whereafter the villa will be reserved and taken off the market. A full set of sales documentation will then be forwarded to a purchaser who has to sign these agreements within a period of 14 days after receipt thereof. If he fails to do so the reservation will lapse and the villa will be put back on the market. Q How do I pay for my villa? A Within a period of 30 days after the signature of the Sale Agreement, 10% of the purchase price has to be paid into the Escrow Account. Thereafter a purchaser has two further periods of 30 days each to pay two further instalments of 10% of the purchase price. As soon as the purchaser has so paid 30% of the purchase price, the balance has to be secured or payments have to be made to equal the draw down procedures set out in the Sale Agreement. The purchase price is disbursed out of the Escrow Account on a draw down procedure set out in the sales documentation and duly vouched for by progress certificates from the architects. Q What is an escrow account and where will it be held? A The escrow account is set up to protect purchasers in that the developer will not be entitled to any monies out of this escrow account, unless the procedure set out in the Sale Agreements for the draw downs is followed. Q When do I become owner of my villa? A Transfer of the villa is effected after the final completion date as the developer wishes to finish the construction process and then provide purchasers with a duly completed and fully furnished and fitted out villa.
Q What security do I have prior to the transfer date? A As soon as 30% of the purchase price has been paid into the escrow account a fixed charge over the land parcel on which the villa is to be constructed will be registered in the purchaser’s name, which charge will only be cancelled on transfer of the villa into the name of the purchaser. Q What restriction (if any) is placed on purchasers selling their villas before the development is complete? A Prior to the transfer date of the villa, no purchaser may dispose of his villa without the prior written consent of the developer. After transfer, the developer has a right of first refusal during the development period. Q Which legal system will govern the agreement of sale and ancillary documentation to this development? A The agreements are governed by the laws of Seychelles. Q When is occupation of the first villa likely to take place? A Late 2011. BANYAN TREE PRIVATE COLLECTION Q What is the Banyan Tree Private Collection? A As a purchaser you qualify for membership of the Banyan Tree Private Collection. This is a collection of properties forming part of the Banyan Tree Global Destination Club. Membership entitles a person to receive annual occupation rights to these properties across the world on certain specific terms and conditions. Q What fees, if any, are to be paid for such membership? A The developer will pay for and on behalf of each purchaser, the once-off joining fee to enable the purchaser to receive this membership. Q Are there any annual membership fees? A Yes, all purchasers will be liable for the annual membership fees as and when such fees are due and payable. At current levels, this varies between US$3000 - 6000.
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BUYERS INFORMATION PACK
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NORTH SILHOUETTE VICTORIA MAMELLES
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AT A GLANCE GEOGRAPHY: 4-10 degrees
Page 11: INTENDANCE BEACH Situated on the So
Page 15: THINGS TO DO ACTIVITIES Whether you
Page 19: FACILITIES With the magnificent Ban
Page 22: PAVILIONS NAMES Rooms / Names No. o
Page 25 and 26: Phase 1A Phase 1B Phase 2 Phase 3 P
Page 27 and 28: ITEM MATERIAL DESCRIPTION COLOUR CO
Page 38 and 39: PROPOSED OVERALL PHASING PLAN
Page 41 and 42: ARTISTS IMPRESSIONS
Page 45 and 46: PARCEL & VILLA SIZES LEVEL 1 LIVING
Page 47: LEVEL 1 - LOWER GUEST BEDROOM SUITE
Page 50 and 51: CMAI ARCHITECTS CMAI Property Devel
Page 52 and 53: WEBBER WENTZEL HENDRIK DU PREEZ Hen
Page 54: BANYAN TREE HOLDINGS LIMITED Listed
Page 57 and 58: Q Is a visa required to enter Seych
Page 59 and 60: The commercial banking sector provi
Page 61: OWNERSHIP Q What legal title in the
Page 65 and 66: TAXATION / EXCHANGE CONTROL Q Is th
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Buyers Information Pack - English - banyan tree

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