Emerald Monkey - Two bedroom villas in Bocas Del Toro, Panama

Inspired by the tropical lifestyle of Bali in Indonesia, Emerald Monkey is an exciting and unique project off Panama’s Caribbean coast: Sustainable and renewable materials, green energy and luxury have merged to become Emerald Monkey Eco-luxe Resort & Residences.

Phase I and II is comprised of 206 one, two and three bedroom villas which are inspired by the Balinese way of life. Construction of Phase I commenced in early 2009, and the first villas will be ready for viewing in February 2010. The Emerald Monkey will offer a range of purchasing options, including whole and fractional units.

The prestigious Preferred Hotels & Resorts group, whose portfolio includes the K Club in Dublin, Lanesborough in London, Sandy Lane in Barbados, Brown Palace Hotel & Spa in Denver, Houstonian Hotel in Houston etc... , has selected Emerald Monkey to be part of their portfolio and be their flagship “green” resort.

Emerald Monkey - Location

Emerald Monkey is located on Isla Pastor (Shepherd Island) in the Bocas del Toro Archipelago, approximately 1 mile from the mainland, 40 miles from the Costa Rican border and a 50-minute flight from Panama City.

The development is set on 85 acres of lush tropical and dormant volcanic terrain outside the hurricane corridor and within 20 degrees latitude of Bali.

Emerald Monkey - Features and facilities

• Reception Center
• Moon Orchid - fine dining
• Water Center with scuba (PADI)
• Meditation Temples
• Over two miles of tropical trails & lush gardens
• Emerald Bamboo Spa
• Laguna Serena with snorkelling
• Pool 21 - adult pool & grill
• Lava Lagoon - family pool & grill
• Private resort beaches
• Organic vegetable & produce farm
• Sunken City Lagoon
• Beach volleyball
• Flutter Farm
• Surfing at Wizard Beach
• Deep sea fishing
• National Park Tours
• Zapatillas Islands
• Bocas Town - local restaurants & shops
• Kayaking & canoeing
• Nature walks & hiking
• Leisure boating
• Daily excursions

Emerald Monkey - Key investment facts

• In a hurricane free area of the Caribbean on a secluded island close to the mainland of Panama
• All detached villas can be purchased with 100% ownership or fractional ownership
• Both types of ownership can be purchased through a self invested personal pension (SIPP or IRA or equivalent)
• Both types of ownership will be protected by title insurance, one of the first resorts to offer such a level of protection and giving buyers complete peace of mind that their investment is covered by an insurance policy
• 100% ownership of a luxury villa from only $ 563,284 USD
• 10% fractional ownership of a luxury villa from only $ 74,353 USD
• 50% pre-approved mortgages for first units sold (at developer’s discretion)
• Member of the Preferred Hotels & Resorts group, guaranteeing high standards of rental management
• Guaranteed income of 10% p.a. on cash investment for first 2 years (this does not apply to US buyers)
• Estimated rental income of 11‐12% p.a. from year 1 for US buyers or from year 3 for non US buyers
• 2 weeks free personal use a year for 1/10th fractional owners and 4 weeks free use for 100% owners. Free personal use is from year 3 for NON‐US buyers (as there is a guaranteed income for the first 2 years) and from year 1 for US buyers (as US buyers do not benefit from a guaranteed income for the first 2 years)
• No property tax for 20 years
• Panama has the second largest banking community in the world after Switzerland with 170 banks
• Colon Free Trade Zone – largest free trade zone in the Western Hemisphere and only second to Japan
• In 2008 the GDP of Panama grew by 11% with trade, tourism and construction all flourishing
• European tourism increased by 23.1% during 2008 and is expected to continue to rise
• $5 billion Panama Canal expansion (construction of 3rd set of locks) will double the Panama Canal’s capacity and is expected to have a $20 billion annual impact on the economy. Corporations are already setting up regional headquarters in Panama to take advantage of this strategic location
• Panama has constantly been rated one of the top 5 places to retire by International Living Magazine for the past 8 years
• Protection to foreign investors from any change in tax, customs, municipal and labor rules for a period of 10 years after investment in Panama
• Panamanian laws are favourable to foreign investors and there is no tax on foreign earned income
• US Dollar is the legal tender in Panama
• Panama requires no special authorizations, permits or prior registrations for foreign investors
• Residency available for buyers of homes valued at $250,000 or greater

Emerald Monkey - Reservation and payment schedule

• Full Ownership - one, two and three bedroom villas ranging from $564,000 - $1.35 million.
• Fractional Freehold Ownership – starting at $75,000 for 1/10 fraction. Fractions range from 1/10 to 1/2 of a villa.

Payment Schedule – Whole and Fractional Ownership

• $5,000 reservation fee payable at the time of execution of the reservation agreement. The fee is fully refundable up to and including 14 days of signing the reservation agreement.
• The first payment of 20% is due after the 14th day of signing the reservation agreement. At this time the owner signs the purchase contract and rental agreements. The $5,000 reservation fee is credited to the first 20% payment.
• The second payment of 30% of the sale price is due 75 days after the first payment of 20% or at the time the villa arrives in Panama, whichever is later.
• Final payment (remaining 50%) is then due at closing and issuance of the Certificate of Occupancy.