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