Nagigia Island Surf Resort is located on a 37 acre private island only 45 minutes flying time from Nadi International Airport, Fiji or appoximately 50 minutes by helicopter to our own helipad. Half of Nagigia Island is on the edge of a 6,000 feet deep water trench completely exposed to Southern Ocean swells and the beginning of the Great Astrolab Reef, famous worldwide for diving and deep sea fishing of the highest quality. The other half of the Nagigia Island foreshore borders a gorgeous aqua blue lagoon.

Investors are being offered two leases which cover all of Nagigia Island, created by the authority of the Native Land Trust Board (Lease and Licenses), Regulations 1984 created under Fiji Law.

Outside the current resort area on Nagigia Island, there are 21 waterfront villa lots (legal sublease titles fully approved) which may be developed. An additional 13 lots (see map) can also be developed. Alteratively, the land area not being used by the resort might simply be used for 1 or 2 very large residential sites.

Vendor Finance may be available.

Around the world, surfing breaks are becoming increasingly over crowded. Nagigia Island enjoys an Exclusive Surfing Agreement that prevents the overcrowding of our most popular surfing breaks. As the world becomes ever smaller, this exclusivity is adding value to your investment.

Following enthusiastic representation by Nagigia Island Directors, the Minister of Fisheries has proclaimed his support for the South Western end of Kadavu, (including Nagigia Island) to become a deep water Fishing Reserve, 8 kilometres out from the low tide mark. If approved, commercial fishing boats will be forbidden in this reserve and only private fishing and tourist sports fishing will be allowed.

Location Fiji is within easy non-stop flying distance of all the Pacific Rim countries and serviced by Air Pacific, Qantas, Air New Zealand, United Airlines Korean Airlines, Freedom Air, and Virgin.

Nagigia Island is situated at Cape Washington and is about 1 kilometre off the South West tip of Kadavu Island, Fiji.

Its position is virtually due south of Suva, the capital of Fiji. The map co-ordinates of Nagigia Island are 178°E 19°S.

Local time is GMT plus 12 hours.

Nearest airport to Nagigia Island is at Vunisea.

Travel By Air to Nagigia Island: The nearest airport to Nagigia Island is Vunisea Airport on Kadavu Island. There are daily flights from both Nadi and Suva to Vunisea Airport.

There is also a float plane and helicopter charter service from Suva and Nadi International Airports direct to Nagigia Island.

Investment in Tourism Resorts has attractive taxation benefits.

The Fiji Government welcomes overseas investments. These are made with the consent of the Reserve Bank and the Fiji Trade & Investment Board which allows among other things, the overseas investor to repatriate his initial investment & profits less tax (if any) at any time.

Freehold or land tenure is via Torrens title land-registration system with the title guaranteed constitutionally by the State.

Fiji has a multicultural population of 900,000. English is the official language.

Income/Expenditure Budgets can be provided to your financial adviser.

Visitors to Fiji are allowed to stay in Fiji for up to six months in any one year on a visitor's permit. Any person who is able to show that he/she has an assured income of a satisfactory amount from outside Fiji will qualify for a resident's permit of up to three years initially.

Should an overseas investor require domicile in Fiji, then a variety of Immigration permits are available to suit. Such permits range from investor-permits to work-permits or a simple permit to 'enter and reside', for example for a retiree wanting to live in Fiji without working.

Tax Benefits

The Fiji Government actively promotes the development of the tourism infrastructure in Fiji and has special tax concessions.

Also, to encourage investment in Fiji, the Fiji Government has set up the Fiji Islands Trade and Investment Bureau to assist investors with information and promote all the benefits of investing in Fiji.

Tourism Related Investment Tax Concessions and other Tax Considerations

1. Accelerated Depreciation. Projects for approved hotel buildings or expansion may be entitled under the Hotels Aid Act to receive an Investment Allowance of 55 per cent of the cost to offset against chargeable income.

2. Double Taxation Agreement. As an additional inducement, Fiji has negotiated a double taxation agreement with New Zealand, Australia, Japan and United Kingdom under which exemptions or tax concessions granted by the Fiji Government are not negated by an imposition of tax in the country of residence of the investor. The contracting State(s) under the agreement would deem that tax has been paid and accordingly grant relief to the investor in respect of income flowing to him. Please seek the advice of your accountant as to how this Double Taxation Agreement in combination with Accelerated Depreciation can benefit you.

3. No Taxation for Non-Resident on Profit on Sale of Investment Land. Non-residents will no longer be taxed on profits from the sale of land which was acquired purely for investment purpose. They will, however be subject to tax if engaged in the business of buying and selling land (i.e. in the same way residents are now taxed).

4. Tourism Related Investments. Exemption of hotel developer profits (from the sub-division and subsequent sale of land up to 31 December 2005.

5. No Witholding Tax on Dividends. No withholding tax is payable on dividends provided these are distributed to the shareholders after a company’s profits are fully taxed at corporate level.

6. Investment Allowances. A business entity or taxpayer may claim as a deduction investment allowance of 40% on the purchase of capital assets of not less than $50,000 per annum. The capital assets will not include land, buildings, passenger motor vehicle or trading stock. Such investment allowance can be claimed until 2005 (inclusive) for the expenditures incurred during this period.

7 . Should you have borrowed in your country of residence to purchase, then all the interest payments should be tax deductible. Please seek advice concerning this from your accountant.

1. For professional advice about Fiji tax, we recommend you to contact a Fiji Chartered Accountant.