<p><strong>Maldives Beach Resort Development Virgin Island size in Hectares 17.9.</strong></p>
<p><strong>Current Status: </strong>Virgin Island</p>
<p><strong>Purpose</strong>: Beach Resort Development</p>
<p><strong>Country: </strong>Maldives</p>
<p><strong>Island Size in Hectares: </strong>17.9 (approximately).</p>
<p>Island size is taken by the authorities based on records kept by the authority. Size of the island is not</p>
<p>completely accurate due to nature of the island; hence the investor can do a land survey from a government authorized firm to determine actual.</p>
<p><strong>&nbsp;</strong></p>
<p><strong>Type of Lease: </strong>Head lease (Remaining lease period 46 years/ to be verified exact number of years). The initial lease period is 50 years.</p>
<p>Another 49 years can be added by paying a lump sum amount to government (To Be</p>
<p>Advised exact figure) within the initial 50 years lease period, if investor wish to extend</p>
<p>the contract.</p>
<p><strong>Construction Grace Period: </strong>Valid April 2020 (Can be extended with additional payment).</p>
<p><strong>Distance: </strong>Direct flight to the island by sea plane is approximately 40 minutes.</p>
<p>Domestic airport under development</p>
<p><strong>Tourism Taxes (after construction period):</strong></p>
<p><strong>Government Lease Rent: </strong>USD 8 Per Sq. Meter per year</p>
<p><strong>Green Tax: </strong>USD 6 per night</p>
<p><strong>TGST: </strong>12%</p>
<p><strong>BPT: </strong>15%</p>