Goa: India's Small Wonder

Located some 360 miles south of Bombay, lies Goa -- India's smallest state with the most to offer. With its major port on the Arabian sea and an emerging tourism industry for an increasingly wealthy clientele, Goa is one of the world's premier investment destinations for the years to come. As a result, it has become the country's richest state by gross domestic product per capita and its economy is growing at an astounding 8% annual rate.


Despite recent economic growth, Goa's chief city Vasco da Gama and its capital Panaji are not your typical Indian boomtowns. With under 100,000 people each, both cities are bereft of high density, skyscrapers, and congestion--and that's what makes Goa so attractive.


Business Opportunities in Tourism:

Goa is the place to wince the wealthy, young, and hip flock for the beaches, fun, and serenity. Although the state's pristine beaches are its main attraction, shopping, golf, and historical sites drew nearly 3 million visitors last year. What's unique about Goa is its diverse architecture that includes that several World Heritage sites like the Mahalsa Hindu temple, the Portuguese Basilica of Bom Jesus, and the breathtaking gothic-revival Bombay High Court of Goa. Tourism is Goa's mainstay but much growth is to be expected with the rise of the Indian middle class and Goa's increasing awareness abroad.


Business Opportunities in Offshore Gambling


Similar to riverboat and cruise gaming, Goa has begun a new industry in offshore casinos. Goa is the only place in India that allows casino gaming. Thus far, there are 5 ships that offer it, but Goa's Chief Minister Digamber Kamat, has hinted at the opportunities for more. Remember, Goa state officials are actively competing with China's casino mecca, Macau. If they're successful at attracting Indians who gamble in Nepal and Persian gulf tourists who frequent Macau, then
Goa can expect to reap tens of millions of visitors annually.


Investment Properties


While much of the world endured two or more years of declining home sales and prices, Goa has recently seen a surge in interest, mainly from expats and retirees who find it too cheap and too scenic to pass up. Before thinking of buying properties in Goa, be prepared and fully aware of foreign property ownership procedures:


- Foreigners should obtain a 6-month visa and plan on actually staying for 180 days.

- Next, you must return to your native country and request a 5-year residential visa through the Reserve Bank of India (RBI).


- Finally, upon approval, you may return to India and purchase your property.


Individuals otherwise cannot own property in Goa without having taken these steps. So the sooner you get started, the closer you are to owning a piece of this paradise.


Goa is truly a unique place and can provide you with great investment opportunities. Although Goans are known to be both peaceful and hospitable, there is a growing sentiment against foreign property ownership as well as offshore casinos. While both are still allowed, we thought it was important that you were fully aware of what's going on so that you could make the best decision.


Photos courtesy of: Goa Tourism Development Corp.

Ajman: The Affordable Dubai

Forget about investing in Dubai or even Abu Dhabi; when it comes to development and property value appreciation, Ajman has more room for growth. The smallest of all the self-governing United Arab Emirates, Ajman is growing fastest and is seen as having the most potential to attract future investment. Crown Prince Sheikh Ammar bin Humaid Nuaimi has ambitious plans to use all available resources to develop the emirate into a modern, world-class business center and tourism destination.


Located just 20 miles Northeast of Dubai, Ajman is far more than a mere bedroom community. With its strategic location on the Persian Gulf, superb natural harbor, and pristine shoreline, it's well situated to become the world's top investment destination. It has its own thriving port with a duty-free zone and modern
infrastructure to support local and foreign-owned shipping business operations.


But the real reason for considering Ajman is the amazing property investment opportunities. While most of the world saw property values decline over the past 2 years, Ajman's real estate market was alive and well. In fact, property values have increased by a whopping 100% since 2007, compared to a 30% drop in Dubai.


Foreign investors see continuous growth as prices here are still considered dirt cheap. Average costs in Ajman are just $165 per sq. ft., about a third of what it costs in Dubai. That's why its population has ballooned by over 50% in the past 2 years and foreign investment is growing at an annual rate of 7%.



Major Projects in the Pipeline:



Ajman International Airport


Construction on the new $ 3.3 B Ajman
International Airport is presently underway. Once complete in 2011, the airport will handle an estimated 1 million passengers annually. The 6 million sq. meter terminal will feature an aviation school, a large duty-free shopping zone, and commercial space including several towers.






Ajman Marina


This $ 3 B project is in the works to become the city's tourist hub. Another freehold area and free zone, Ajman Marina enables foreigners to conduct business, especially suitable to the hospitality industry, to fully own housing units, or take advantage of duty-free shopping. In addition the plan includes schools, parks, and yacht clubs. The entire project is expected to be complete by 2013.






Ajman One



Led by AQAAR, a government-related development company, Ajman One is designed to create one of the UAE's largest middle-income property communities--something severely lacking
in this country.


Spread over 12 residential towers, this development gives foreigners an excellent opportunity to invest in relatively affordable property in the UAE. It's worth mentioning that prior to 2002, it was nearly impossible for foreigners to fully own any property.




Ajman Uptown


Although in its early stages of development, Ajman Uptown has already sold 70% of its space. The first stage of the low-rise and mixed-use project is expected to becomplete by 2010. The finished project will render another mini-city equipped with its own office space, shopping centers, schools, parks, and recreational amenities.




Al Zorah


The Al Zorah Development Company and Solidere International is
building a 5 sq. mi "hi-tech city" with beaches, resorts, restaurants, shopping malls, office space, and housing
units. The largest of all the UAE's developments this year, investors are pouring in over $ 60 Billion into this project.


Intended to be a self-sustained city, it will eventually have its own hospitals, schools, and marinas. In addition it has served as a leader in the green building trend in Ajman; buildings in Al-Zorah city will use 35% less energy than conventional buildings.








Emirates City


A project of 12 high-rise towers, lakes, parks, schools, and shopping centers, Emirates City is half-way sold out. A freehold development, Emirates City enables foreigners to fully own property at attractive prices.



Foreigners interested in Ajmani property should know that they can receive a year-long visa after having bought a residence and after receiving a "no-objection" letter from developers. Given the strong economic growth of Ajman and its rapidly appreciating property opportunities, we're sure that you'll find an investment in Ajman to be worthwhile.


Photos courtesy of: UAE National Media Council, Tanmiyat Group, Al Zorah Development Company and AQAAR


View Original Article at InvestDest.com





1

DC's Top 10 Up & Coming Neighborhoods

Washington DC and its metropolitan area have recently attracted quite a lot of attention. For one, the city was just named the top investment destination according to a 2009 survey of the world's top foreign real estate investors.


Secondly, the area is home to some of the nation's fastest growing and wealthiest counties like Loudoun County, Virginia which has grown faster than all but 4 counties and has the nation's highest median household income. Fairfax county, the metro area's most populous place ranked as the nation's second wealthiest county and nearby Howard county, MD grabbed the #3 spot.


Lastly, the DC area has been recognized for its robust and increasingly diversified economy, which held up quite well in spite of recent economic turbulence. Here, unemployment is around 4%--well below the national average.


With so much to offer, there's no wonder why DC has become the new place to be. Its proximity to Virgina, consistently listed as Forbes' most business-friendly state in the US, makes the metro area an attractive place to do business. But businesses want prestige and access to lawmakers, media groups, universities, lobbyists, and legal groups. Thus the central core of DC has become one of the hottest real estate markets in the world.


Within the past decade, DC's development has been explosive, but it's not nearly over. The city has begun one of the largest waterfront projects in US history. The project calls for developing thousands of acres of the underused property along the Washington Channel and Anacostia River. Ambitious revitalization plans for neighborhoods close to the central business district are already underway and have quickly attracted a host of investor interest.




1. H Street, NE (Atlas District):


This strip is the bustling heart of Washington's re-emerging East End. Located within walking distance of busy Union Station, affluent Capitol Hill, Gallaudet University, and the new NoMa business district, H Street is a busy thoroughfare teeming with artists, small businesses, and growing investor interest.


Within the past few years, the area has welcomed the reopening of the Atlas theater, H Street Playhouse, and has welcomed new bars, cafes, clubs, retail, and luxury condominiums such as the one in which former mayor Tony Williams resides.


What makes the area a perfect up and coming neighborhood for your investment is the wide availability of profitable opportunities. Commercial space and housing prices here are far cheaper than in other neighborhoods in Washington, at least for now. The city is moving fast on a plan to bring a street car line as well as other developments.



2. New Near Southeast (Capitol Riverfront District):


At the epicenter of Washington's master-planned waterfront community is Near Southeast. It's hard to believe that in less than 5 years, it was an under-used, blighted semi-industrial area.


Located south of the capitol and wedged between I-395, the Washington Navy Yard, and the Anacostia river, Near Southeast is an emerging community with a lot to offer. In just two years, the neighborhood welcomed new hotels, office buildings, including the US Dept. of Transportation's headquarters, the Washington Nationals' brand new ball park. Along with the additional thousands of new residents, Near Southeast has become a busy and vibrant area.


Future plans for the area include several major mixed retail, office, and housing communities, a revitalized waterfront park, and a possible light rail route.



Further information:
www.capitolriverfront.org




3. NoMa (North of Massachusetts Ave):

The area north and east of the capitol and Union Station has been fully transformed into a huge office park with a new Metro station, cheaper office rents than downtown, but proximity to Capitol Hill. With neighbors like CNN, CSPAN, XM Satellite Radio, and the future home of NPR, NoMa is becoming Washington's own media mecca.


Several projects are underway that will bring new office space, housing units, hotels, and retail by 2010. One of the largest projects in the planning stage includes the redevelopment of the city's largest wholesale and farmer's market.




4. Mt. Vernon Triangle (Convention Center East):


Bounded by the convention center to the west, Verizon Center (local professional sports) and Chinatown to the south, NoMa and I-395 to the East, Mt. Vernon Triangle is all about proximity. The area was created from former parking, used car, and vacant lots into a largely residential area. Several condominiums and a new Safeway grocery store have already opened, but so much more is to come. Once complete, thousands of new residents, mainly young professionals and students will inhabit the area, bringing with them a demand for more retail, restaurants, and entertainment.


5. Hill East (Stadium-Armory Area):


Wedged between Capitol Hill and the Anacostia River, Hill East is on its way to becoming one of the hottest places in town. Minutes from downtown, the neighborhood is home to RFK stadium, the DC Armory, Stadium Armory Metro.


Hill East is home to a planned mixed use waterfront community on the 67-acre campus of a former hospital. Plans call for a new waterfront park, offices, town homes, and retail. Meanwhile, investors can get in on the expanding demand for multi-family units.



6. St. Elizabeth's/Poplar Point:


The area includes Poplar Point, an underutilized waterfront park and the 300+ acre campus of one of America's most famous mental asylums--St. Elizabeth's. The project began with the redevelopment of the larger neighborhood in order to bring a new metro center at Congress Heights, a new shopping center, and new home communities.


Now the Dept. of Homeland security will bring its headquarters and thousands of employees to the St. Elizabeth's campus. The master plan calls for development of remaining land, affording newcomers breathtaking views of the Anacostia River and downtown.


Unfortunately, funding has slowed the Poplar Point project, which city officials had hoped would attract a new soccer-specific stadium for the DC United. No officials aren't expecting any major changes to the site until after 2010.




7. New York Avenue East (Brentwood, Landgon & Ivy City):


Nearly 55,000 vehicles use New York Avenue each day making it one of Washington's busiest thoroughfares. Commuters, visitors, travelers, and truckers pass by the area giving you access to a large potential consumer market


For years, the area has been home to the headquarters of BET (Black Entertainment Television) and Washington Times, but now it's attracted a slew of new neighbors. Within the last 5 years, the it has welcomed the city's only Home Depot, as well as new hotels such as a Fairfield Inn.


A number of new projects are scheduled for this area just East of NoMa, South of Rhode Island Avenue Metro station, and West of the National Arboretum including: re-development of the old Hecht's building, one of the city's finest examples of Art Deco, a new Arbor Square mixed-use project, and the revitalization of adjacent semi-industrial streets.


8. Petworth, NW:


Already one of DC's densest and most diverse places, new projects have been launched to revitalize the main thoroughfares of Georgia Avenue NW. The area is increasingly host to multi-family unit investment projects. Located in an area bounded by Howard University to the South, Walter Reed Army Medical Center to the North and four major hospitals to the East, this area is one of DC's most popular up and coming neighborhoods.


Petworth is in the heart of two major redevelopment projects--McMillan Reservoir and the campus of Armed Force Retirement Home. Both areas will host new mixed-use areas with thousands of housing units, office space, and retail.


9. Southwest Waterfront:


Originally redeveloped in the 1960s, the city has once again decided to improve its first waterfront community. Located south of I-395 and north of Fort McNair and the National War College, this neighborhood is overlooked and underdeveloped, giving you great investment opportunities.


You'll enjoy the excellent skyline views, the proximity to Reagan National Airport, Downtown, East Potomac Park golf course, and the New Nationals' stadium.


SW Waterfront is already home to the city's open-air seafood market, one of the city's favorite seafood restaurants, the new 5-star Mandarin Oriental hotel, as well as a handful of clubs and shops. As part of the city's massive waterfront project, it will soon undergo drastic change. Plans call for a revitalized Waterside Mall, a new waterfront promenade, an aquarium, new hotels, shops, housing, and office space.



10. 14th Street/Columbia Heights, NW:



In just 2 years, Columbia Heights quickly became one of DC's most sought after neighborhoods. For a long time, it's been home to the city's largest El Salvadoran communities, the largest Ethiopian Community outside of Ethiopia, as well as an increasingly young, professional class.


Recent developments brought many new cafes, restaurants, and retail. In 2007, the area welcomed the city's first Target store and other large retailers. Since then, several condominium projects have been built but trends show that future development will mainly stem from refitting homes into multi-family units.

Photos Courtesy of DC.gov

Panama's Colon Free Zone Gives You Access to the World

In a land where economic growth overshadows the gloomy world economic outlook, Panama's Colon Free Zone (CFZ) is the perfect place for your business to thrive. While the US saw a record annual decline in retail sales last year, both annual and fourth quarter 2008 statistics were up over 10% in Panama. Thanks to the $ 5 B canal expansion project, future economic prosperity is almost certain - specifically for the CFZ.




Located on Panama's northern coast, where the canal meets the pristine Caribbean shoreline, the CFZ offers unparalleled access to world consumers. With over $ 7 B in trading activity, Colon is home to the second largest duty-free port in the world:


- Hong Kong is the largest importer of CFZ goods, giving you direct access to the growing Chinese consumer market


- Roughly 15,000 Panama Canal Tourists spend money on duty-free goods in Colon


- Over 1 million conventional tourists visit Colon each year and the free zone is the top attraction


- Proximity to Panama City (a scenic 45-minute drive), with the largest banking center in Latin America


The Colon Free Zone is treated as a special administrative region of Panama, one of the world's most business-friendly countries. Any foreign individual or corporation may operate here by presenting the necessary applications (found here), evidence of incorporation, and additional references (usually from a bank). Your main options include:


- Seek a 20-year land lease and build-to-suit (warehouse, etc.)


- Lease commercial space from the CFZ Administration


- Purchase existing commercial space from the CFZ Administration


- Purchase existing commercial space from another company (requires CFZ Administration approval)


The benefits of operating in the free zone are quite obvious:


- No commercial license required


- No minimum amount of start-up capital


- No taxes on imports and re-exports


- No corporate income taxes


- Sales of your goods are always tax-free


- Tax credits applicable if a Panamanian employee quota is met


If you thought doing business anywhere in Panama was seamless and inexpensive, then you'd be even more amazed at all that the CFZ has to offer. Along with a booming economy in a safe, strategic locale, the CFZ is unmatched anywhere else in the Americas.

Andorra Opens Up to Foreign Investment

Long known for its great ski slopes and low taxes, Andorra is one of Europe's least popular investment destinations. Located between Spain and France in the Pyrenees, the small, landlocked principality has grown into one of Europe's playgrounds for the wealthy.


Like other countries, Andorra has recently had to cope with budget deficits, mounting bank debts, and economic contraction for the first time in over 2 decades. In light of a decline in both investors and tourists, Andorra seeks to change its image from an "uncooperative tax haven" to a simple investment destination. Now investors have been given an investment opportunity of a lifetime. For the first time in Andorra's 700-year history, the government released its plan to open land, specifically ski slopes, to private investment.


What's New:


- Foreigners can now own up to 49% of Andorran companies (in luxury clothing, real estate, and skiing industries).

- 100% foreign ownership of companies in 200 industries (mainly technology-based) as
Andorra seeks to quickly diversify.


Top 10 Reasons for Investing in Andorra:



- Andorra currently boasts over 10 million annual visitors

- Andorra is the 3rd most popular ski destination
among Britons (after only France and Austria and ahead of Switzerland).

- Americans have yet to discover Andorra as a ski destination.

- Vacationing in Andorra is considered a bargain compared to popular French,
Swiss, and Austrian ski destinations.

- Andorra is a shopper's paradise, luring visitors with it's duty-free high-end retail.

- Andorra is rather small with little available development space making real estate investment very lucrative.

- As a non-EU member, Andorra has voluntarily signed the 2008 EU Savings Tax Directive and pledged cooperation in countering money laundering.

- Andorra is very stable and has been free from war, political unrest, or major economic turmoil during its entire history.

- With a population of just 80,000 and a high quality of life, crime and poverty are both virtually inexistant.

- Low taxes.


Andorran Company Formation


Incorporating in Andorra can be one of the most seamless and inexpensive experiences in Europe. The clear advantages to incorporating here are that most companies pay no corporate or capital gains taxes. Nonetheless, your company is required to have 2shareholders (including a 67% Andorran shareholder) as well as a minimum of 30,000 Euros in capital. But, if you're seeking access to Europe's increasingly popular ski destination and new playground for the wealthy, it's well worth it.


For further information, please visit the Andorra Investment Guide (In French).

Gibraltar: Europe's Next Playground for the Wealthy

With its stunning scenery, strategic location, low taxes, and strong banking sector--Gibraltar is briskly attracting more tourist and investment money. For centuries, the British overseas territory at the tip of southern Spain has been known for its iconic rock at the crossroads of the Atlantic and Mediterranean, and Africa and Europe. In recent years, it's become overlooked and undervalued affording investors big opportunities.


Tourism


One reason why Gibraltar is a great investment destination is because it has yet to become popular with American visitors. In less than 5 years, tourism has surged from 5 million to over 8 million visitors, yet Americans made up less than 5% of that total.


Surveys show that the 1,400-foot high rock, one of the legendary "Pillars of Hercules" is the main tourist attraction; however, with tax-free shopping, a Mediterranean climate, Barbary apes, 6th century Moorish ruins, and easy international access, Gibraltar is easy to love. As cruising proves to be a cheaper and a more popular way for Americans to see Europe, Gibraltar will continue to serve as a port of call for most western Mediterranean cruises.

Besides commercial cruisers, the increase in luxury yachters will bring many wealthy visitors en route between the US and the Mediterranean.


Real Estate

At under 4 square miles, slightly larger than Central Park, Gibraltar has limited space for development. Consequently, developers have scooped up most of the available land. In the last 5 years, the peninsula has been awash in development of scenic, luxury communities such as Ocean Village. This year, Gibraltar witnessed its biggest decline in property values since 1992 (merely 4.4%), presenting new property investment opportunities.

According to Louis Montegriffo, the director of major development consultancy firm BMI Group, Gibraltar could see a 35-40% rise in property values in 5 years. Unlike other European destinations for the wealthy like Monte Carlo, St. Tropez, and Cannes, home prices in Gibraltar are half as expensive.


Offshore Banking


Gibraltar may have kept a relatively low profile as an offshore banking destination, but its banks have amassed increasing assets of more than $ 12 B:

- Close Brothers Sets up Bank in Gibraltar Tax Haven.


- Wealth Management Firms Have Big Plans for Gibraltar.

Although the EU's 2005 Savings Tax Directive makes it more difficult for Europeans to take advantage of offshore banking, Gibraltar is serious about combatting money laundering, keeping taxes low, and promoting confidentiality.

The IMF lauded Gibraltar's anti-money laundering tactics and overall regulatory system in a 2007 report.

In order to maintain privacy while continuing anti-money laundering measures, Gibraltar has given EU residents the option of a witholding tax on bank interest payments.

Establishing your offshore account in Gibraltar means no taxes on capital gains. Lloyd's TSB Offshore Bank provides a great service to offshore account seekers:


- Lloyd's has a AAA credit rating (Moody's), the highest for any bank in the world

- Lloyd's emerged from the global financial crisis better than most large banks.

- Low annual fees (under $ 10) and low minimums to open accounts.


Company Formation


Setting up a tax-exempt* corporation provides a seamless experience:

- The filing and incorporation process takes just 2-3 days

- Requires just 1 minimum shareholder and director

- Legal entities can be corporate directors

- Minimum capital requirements (optional authorized capital, 100 GBP paid up share capital, 1 GBP paid up capital)

- Other requirements include a registered agent, registered office, and annual tax returns.





*Chief Minister Caruana's 2002 decree which allows tax exempt corporations with up to 15% company personnel taxes. Click here for information on company formation, trusts, limited partnerships, trademarks and patents, and yacht registry. Photos courtesy of Gibraltar Tourist Office.

Move Over Switzerland: Luxembourg and Liechtenstein Are Europe's New Centers of Wealth, Private Banking

Last year, Luxembourg and Liechtenstein became the first countries in the world where per capita incomes surpassed six figures with $ 103,000 and $ 106,000 respectively. See World's Wealthiest Countries. It comes as no surprise as the duchy and principality have recently attracted billions in new offshore money.



The larger of the two, Luxembourg has a half million people and borders Belgium, France, and Germany. Well integrated with the EU community, Luxembourg was one of the original EU members, having long maintained an economic alliance with Belgium and the Netherlands (Benelux). Nearly a quarter of the economy is now directly related to offshore banking and the financial industry.



With over 200 offshore banks and over $800 B in assets, Luxembourg has recently become Europe's top private banking destination, beating Switzerland for the first time in history. Like Switzerland, Luxembourg is perceived as very safe and stable.



Americans without companies registered in Luxembourg can enjoy the tax-free privileges of offshore banking. Because of the 2005 EU Tax Savings Directive, residents of Luxembourg and most EU countries are subject to Luxembourg's extremely high taxes. Opening an offshore account here comes with standard requirements including: a valid passport (and copies), a bank reference, and utility bills.



Liechtenstein



After Panama, Liechtenstein is known for upholding the strictest bank privacy laws in the world. Some Germans often joke that Swiss bankers bite their tongues, but in Liechtenstein they cut them off.



Unlike Luxembourg, Liechtenstein did not sign the EU Tax Savings Directive, thus it had previously attracted more money from EU nations. Now things have changed as the EU has put a lot of pressure on Liechtenstein to release tax information on Germans and British tax refugees. Perhaps, Liechtenstein is still a great tax haven for Americans and Canadians, but no longer for Europeans.



Prince Hans-Adam II, one of the wealthiest world leaders with over $5 B owns LGT Bank, the country's largest. The bank has been subject to frequent German tax evasion investigations in recent years and its banks have drawn international scorn.



Taxes here are relatively low compared to other European nations as both income and corporate local and national tax rates are between 18-20%. Asset taxes are low, between 0.162% and 0.85 %.



What makes both Luxembourg and Liechtenstein great investment destinations isn't just because of the banks. Both countries have wealthy and highly educated consumer bases, and are close to larger neighboring economies (i.e. Germany and France), without all the restrictions, restraints, and high taxes.