Samung Island
Samung Island, PhilippinesLaying in the Pacific Ocean less than 125 miles east of Manilla, Samung Island is an enchanting combination of ivory beaches, interesting basalt rock formations and green hills forested with coconut trees. Coral gardens lying just offshore give home to tropical fauna such as colourful fish, anenomes and many sea creatures sure to intrigue while you dive beneath the sparkling waters. Complimenting the wild, nearly untouched beauty of the property is its relative remoteness from any other island, the nearest at a distance of 3.5 miles. However, water is available from several wells on the island, reducing any reliance on the outside world when on our own private eden. General Information about Samung Island Total area: 40 ha Agricultural Land: 24 ha Length: 1 km Highest Point: 90m (320ft) Distance from Manilla: 200km (125 miles) Distance from eastern shore of Luzon: 20km (12.5 miles) Information for Foreign Purchasers Foreigners can own real estate in the Philippines by setting up a company and registering the land in the company name. If they wish, non-resident purchasers can aquire Samung Island together with the current company-owner, at no extra charge. Such acquisition will involve simple transer of company shares from the current shareholders to the buyer. This will allow to avoid the cost and hassle of setting up a new company for registering the property. The annual cost of maintaining a company in the Philippines, including accountant and lawyer fees, is approximately AUS $600. |
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