Palm Reef - Discovery Brochure - JB

PALM REEF RESORT MAYA BEACH, BELIZEDiscovery Brochure

Belize, where your heart never leaves

BelizePOPULATION 350,000 Discover a World of Belize is a rare jewel in the Caribbean … palm fringed, sunCAPITAL Belmopan: population 15,000 bleached beaches are just one of the many assets that make up this tropical paradise. Azure waters lap the shore and frame theAREA 8,867 sq mi (22,965 sq km) backdrop of mangrove forests, estuaries, tropical rainforests,LANGUAGE flowing rivers, mysterious caves, colorful villages and some of the Possibilities...English, Spanish, Mayan, Garifuna, Creole most beautiful waterscapes in the world.BELIZE BARRIER REEF Second largest in the worldATOLLS 3 of the northern hemisphere’s 4 are in BelizeMAYAN RUINS A treasure trove of Mayan relics

The Ultimate Tropical Playground LifestyleThe Water Festivals TaxationUnspoiled mangrove estuaries, stunning beaches, tropical Belize is lucky to enjoy many festivals from the Costa Maya Belize is a residency based personal income tax system. Thatturquoise water, over 100 untouched islands, the second largest festival to the many lobster festivals. Each unique culture and means that you can only be held accountable for having to paybarrier reef in the world, coral atolls, the Great Blue Hole, some area celebrates their own unique festivals and all are a real taxes on personal income earned while working in Belize.of the world’s best diving and some of the planet’s finest fly opportunity to mingle with the people and immerse yourself in Foreign income is tax-exempt. Belize has a simple and straightfishing. the real Belize. forward tax system. Property taxes are low and it has no capital gains tax and no inheritance tax.The People Stable and Proactive GovernmentBelize is a wonderful melting pot of cultures living together in Belize is a former British colony and is now a British overseas Safety and Securityharmony: Maya, Mestizo, Creole, Garifuna, East Indian, Mennonite protectorate enjoying the full protection of the crown. It is a Belize is blessed with not having a crime problem. Areas likeand Chinese.  Wherever you go, you will find some of the stable and independent democracy with an engaged and Placencia and Stann Creek are especially well known for theirfriendliest and most welcoming people on the planet. proactive government. It has an efficient legal system based on friendly, welcoming and crime-free communities. British Common Law, simple visa and immigration proceduresThe Language and a proactive and willing labor force. The LifestyleWhile Belize has a rich diversity of languages used on a daily Slow down and enjoy the simpler things in life. Time is on yourbasis, the main language and official language is English. Creole, Real Estate Opportunities side when you are in Belize. As you adjust to the relaxed pace ofSpanish, German and even Mandarin are spoken in some Simply put, Placencia and Belize have some of the best Caribbean life, you will soon discover there is little else thatcommunities, however almost everyone converses in English. beachfront real estate deals in Central America. Safe, freehold compares to the quality of life here. ownership, combined with fantastic growth potential areRich History and Mayan Ruins quickly making Belize the investment and safe haven of choice Stunning Natural BeautyBelize enjoys a rich cultural history dating back over 2000 years for North Americans. With no bubble to burst, it’s easy to see Mayan Mountains, crystal clear mountain streams, waterfalls,and is lucky to have some of the most incredible Mayan ruins, why demand is increasing. caves and unspoiled tropical cayes.with temples like Xunantunich and Cahal Pech. Food and Culinary Temptations The WeatherActivities and Adventures Belizean food is influenced by an incredible melting pot of One of the best things about living in or visiting Belize is theBelize is an activity lover’s dream; explore archeological ruins, cultures including Creole, Mayan, Garifuna, Spanish, British, weather. With an average yearly temperature of 84° F (29°C),jungle and rainforest treks, explore Central Americas largest cave Chinese and American, and these influences can be seen in many coastal sea breezes keep you cool even in the hottest months.network while cave tubing. There are countless nature and fantastic dishes. Belizeans are blessed with an abundance of In winter, the temperature in Belize rarely falls below 60°Fmarine reserves to explore with inshore and offshore fishing, seafood like conch, lobster, snapper and shrimp, making eating (16°C ).kayaking, sailing, scuba diving and snorkeling, jungle zip line in or out incredibly affordable.tours, trips to the Blue Hole, bird watching and numerous otheractivities to keep you busy.

MIAMI 2 hrs, 780 miles Natures Paradise - Perhaps the most memorable and lasting sensation when you Closer Than You arrive in Belize is the tropical scent in the air; it’s the first breath ofHOUSTON 2.5 hrs, 975 miles Imagined coming home. It holds within it the tantalizing promise of all that is Belize – sun soaked sandy beaches, breathtaking turquoiseNEW YORK 5 hrs, 1830 miles waterscapes, ancient Mayan ruins, tropical rainforests, wild orchids, fresh Caribbean seafood, wild jungle rivers, friendly people, fishingTORONTO 5.5 hrs, 1870 miles on an untouched tropical flat and quiet sunsets on the beach.LOS ANGELES 5.5 hrs via Houston, 2186 milesVANCOUVER 7 hrs via Houston, 2930 milesLONDON 11.5hrs via Miami, 5000 miles

Placencia Between a Palm Reef Resort occupies a stunning stretch of Caribbean beach at Maya Beach on the PlacenciaRainforest and the Peninsula in southern Belize. The western boundary of Palm Reef lies on the famed Placencia Lagoon with backdrop views of the Maya Mountains. To the east lies the Caribbean sea dotted Caribbean Sea with tropical islands and cayes, all surrounded by the largest barrier reef in the western hemisphere. At the heart of this region lies Placencia Village, a welcoming and friendly town with a vibrant local culture that is the ideal base to explore the many activities and adventures offered. Whether it’s a day of fishing, snorkeling and diving, or a jungle trek, zip line and caving, Placencia and Belize will keep you spoiled for choice in this clean, safe and untouched corner of the world.

Lagoons, Islands and BeachesPlacencia Penninsula

Palm Reef Resort Belize’s Smartest Condo Hotel

Welcome to Palm Reef Resort The Ultimate Lifestyle InvestmentThe ultimate Caribbean playground, where days are unhurried and sunny - spend your day Palm Reef exposes you to all of the beauty of the Belizean coast from its perfect peninsula setting.lounging in a hammock strung between two palm trees; relax in the cool clear water at one of the To the east, the Caribbean Sea laps steadily at the front of the property. In the west, the sun sets behindresort pools; or swim up for a tropical cocktail at the pool bar. The evenings are caressed by the the lush Maya Mountains, shading the rainforest as the last light reflects off the inner lagoon. The locationpleasant sea breeze and perfected by the soothing sounds made by the gentle waves lapping up is truly stunning and every residence features a spectacular view.against the shore. Enjoy elegant dining with friends, fresh Caribbean seafood beneath a tropicalmoon, long walks on the beach, or a nightcap at the palapa. The stunning Palm Reef Residences are now available as 100% ownership. Choose from our limited selection of Studio, 1 Bedroom, 2 Bedroom and 3 Bedroom Penthouse Luxury Condominiums that allThe Palm Reef lifestyle – relaxation has new meaning here - it flows through you clean and fresh come fully furnished.leaving behind nothing but a smile. Your ultimate home away from home, to use, share or even rent out while away. Palm Reef Resort is• Restaurants & Bar • Indoor & Outdoor Water Features the regions first true Condo Hotel offering a turnkey ownership experience that simply has no equal …• Luxurious Spa • Indigenous Tropical Trees & Gardens• Reception & Concierge • Professional Resort Management Luxury• Fitness Center • Fully Serviced Beachfront• 300 ft. Infinity Edge Pool • Owners Rental Program

Elegantly DesignedBeyond Expectation

Naturally LuxuriousThe soothing sounds of flowing water are ever present and are a keycomponent in designing the elegant residences at Palm Reef Resort.Each Residence has been designed with a passionate approach to theuse of light, space and the balanced flow of energy. Elegant Belizeanhardwoods, travertine marble floors, granite countertops, Artwork fromthe region and a symphony of natural textiles, all seamlessly blend withthe natural flow of life at Palm Reef.• Limited number of Designer Condominium Residences• Fully Furnished down to the last teaspoon• Studio, One, Two & Three Bedroom Residences• Smart Design Lock Off Suites• Luxury Penthouse Residences with Private Rooftop Terraces• Penthouse Terraces featuring Entertainment Area with Hot Tubs• Stunning Views from Expansive Balconies• Water Features in each Residence• Granite Countertops• Travertine & Stone Floors• Rich Exotic Hardwoods• Large Doors for Indoor & Outdoor Living• Luxurious Bathrooms with Natural Stone & Rainwater Showerheads• Custom Hardwood Cabinetry• Sub Zero Kitchens• Energy Efficient Glazing Solutions• Large LED Televisions• Ubiquity High Speed Wireless Internet• Managed Rental Program• Professional Resort Management

Turnkey OwnershipLuxury Living

Tranquil IndulgenceAllow the peaceful surroundings of Palm Reef to wash away any hint of stress. Start your day with a calming morning yoga session on top ofPalm Reef’s rooftop terrace, while watching the sun rise over the Caribbean Sea. A little later on perhaps, a delectable breakfast of fresh tropicalfruits and local delicacies, followed by a morning of shopping for local arts and crafts. Later on, indulge yourself with an afternoon at theSpa where rejuvenation and pure relaxation is the order of the day … Tranquil Refined Experiences At Palm Reef, we believe in creating meaningful experiences to match and exceed the desires and expectations of our valued guests. From our exclusive residences, to our fantastic facilities and beyond, we have put the guest experience at the forefront of everything we do. Go ahead. Indulge yourself. Live the dream … Indulgence

Explore, Discover, CelebrateWhale Shark Diving Placencia

Palm Reef – Location, Location, Location Live the DreamPalm Reef is perfectly situated on what many consider the best stretch of beachfront in Belize, offeringeasy access to explore the Barrier Reef, jungles, Mayan ruins and hundreds of offshore cayes. PalmReef ‘s location makes it the ultimate base camp from which to explore all that Belize has to offer.Timing is Everything Abundancy Defined – Natures Caribbean PlaygroundBelize, and in particular Placencia is at the tipping point of something big. There is momentum growing Palm Reef Resort is one of the leading, environmentally friendly or “Green” resort developments in Belize.in this vibrant emerging market. The world is quickly catching on to all that Belize so uniquely offers. The Resort has been designed to North American building standards and has been put together by anBranded hotel groups like Marriott and Four Seasons are recognizing the potential and are moving to exceptionally experienced development team. Lush indigenous landscaping combined with stunningthis emerging market to take advantage of the incredible opportunities that Belize offers. waterscapes connect Palm Reef to the Caribbean Sea. With a substantial percentage of Belize’s land designated as National Parks and non developable land, both Palm Reef and Belize are an attractive proposition.Opportunity Enjoy Today, Your Legacy Tomorrow Palm Reef Resort is the ultimate opportunity for baby boomers, families, or those looking for an adventurous retirement. The ultimate lifestyle investment, that offers an attractive estate planning option through an offshore, tax efficient structure.

The Palm Reef Development TeamThe Palm Reef Development Team brings together an incredibly experienced team of accomplished and talented professionals. The Team brings years of realworld development experience combined with proven local and regional knowledge.DeveloperCarlton Watson has a 30-year background in real estate and manufacturing, that includes acquisition, development, financing and management. His portfolioholds hundreds of income properties, including residential, commercial, mobile home parks, an industrial park, warehouses, farmland and a water system.He is also an owner of Kona Management Ltd., a property management company that manages hundreds of residential, commercial and industrial propertiesin Canada.Vice PresidentBradley Rinehart for over 20 years has lived and worked in the Tourism, Real Estate and Development sectors of Belize. He is a partner in the Century 21franchise for mainland Belize, the Managing Director of Century 21 in Placencia and owner of Griffin Belize, Inc., a development and real estate consultingcompany. He has worked on the development and management of a number of high end resorts in Belize including, Jaguar Reef Lodge, Chabil Mar Villasand The Inn at Robert’s Grove.Vice PresidentMike Beggs has spent 20+ years working on projects in Africa, Asia, Indian Ocean, Europe, the Caribbean and Central America, including developments inBelize. Resort development, hospitality, marketing and operations are the areas of his senior management experience. He is also a Tourism DevelopmentConsultant advising both developments and Governments, while working closely with WTO (World Tourism Organization) and CHA (Caribbean HotelAssociation).Project ConsultantsArchitectsAndrea Bacher has worked in Belize for 15 years. A former student of the University of Venice, his professional career began in Italy designing residentialand commercial projects. His firm, AB2 Architects, based in Placencia, Belize, specializes in high end custom homes, commercial developments, luxury hotelsand spa resorts.Structual EngineerEnrique Rosado, an engineer for over 25 years has been a Structural Engineer for numerous multi-storey buildings regionally. He is also a former CityEngineer for the Department of Housing and Planning and headed up projects, and structural design for the Government of Belize.RD ConsultantsAmerican Appraisals – Frank Fehribach of Dallas, Texas, is a leading consultancy providing professional services including, full feasibility studies, competitiveanalysis, market studies, site valuations, project positioning and risk analysis.

Sustainable & Responsible DevelopmentPalm Reef Resort has taken great care to incorporate environmentally responsible practices into everything we do,from conceptual design, through to energy saving and procurement and recycling. Great care has been taken to ensurea minimal impact on the existing environment. Native habitats have been preserved to ensure a habitat for friendly nativespecies such as birds, iguanas and turtles. Special attention has been paid to natural cooling, ventilation, buildingmaterials, water recovery, solar, turtle sensitive beach lighting and other alternative green practices at Palm Reef Resort.• Smart design natural cooling and super efficient heat • Rainwater cisterns to catch flow from roof areas topumps for water heating supplement and in many cases cover the supply• Grey water system to recycle and reuse for irrigation requirements for the pool, water features and landscaping• Solar lighting for pathways, beach areas, landscaping and • Indigenous species of plants including tropical fruit trees water features for landscaping• Strategically located wind turbines to harness the power • LED lighting systems to reduce energy costs dramatically of the wind Green

16 Miles of Stunning BeautyPlacencia’s Stunning Peninsula

Purchaser’s Guide

Your Guide to Ownership at Palm Reef ResortPalm Reef Resort was designed from the ground up around creating an exceptional customer experience that quite simply has no equal in the region. “The Palm Reef Experience” hasbeen sculpted for the needs and desires of our discerning owners and customers…After conducting extensive on the ground market research, real world feedback and an exhaustive design and value engineering exercise, we have clearly raised the bar in design anddevelopment for the region. Palm Reef will be the standard by which all other developments in the region will be judged.Smart design permeates every aspect of Palm Reef, from our over-engineered structure; German designed glazing systems; elevated residence levels that are designed to increasenatural cooling from sea breezes and give each Residence an ocean view; to our smart- cloud based technology platform that brings the guest experience and service levels to a newstandard.Ownership and the ownership experience is of paramount importance to us. To that end we have designed Palm Reef Resort to meet the exacting standards and operationalcapabilities as prescribed by major hotel brands, this allows us to position Palm Reef as a mainstream hotel product and deliver services and standards not seen in traditionalcondominium complexes. This innovative Condo Hotel design allows us to generate increased occupancies through the rental program, increasing the potential returns for each one ofour owners. These enhanced service levels in turn, allow us to treat our owners as they should be treated ... like royalty.We trust that you will find this guide helpful in understanding the Palm Reef offering, Placencia and of course purchasing real estate in Belize. Join us on this journey and discover aworld of opportunity. ContentsPurchasing Property in Belize.................................................................................................................................................................................................................................................................................................................02Placencia.........................................................................................................................................................................................................................................................................................................................................................02Palm Reef Resort.........................................................................................................................................................................................................................................................................................................................................03Development Structure.............................................................................................................................................................................................................................................................................................................................03Purchasers Payment Structure...............................................................................................................................................................................................................................................................................................................04Rental Program.............................................................................................................................................................................................................................................................................................................................................05Owners Referral Program.........................................................................................................................................................................................................................................................................................................................05Owners Benefits...........................................................................................................................................................................................................................................................................................................................................06Frequently Asked Questions - FAQ’s...................................................................................................................................................................................................................................................................................................07

Purchasing Property in Belize Belize is a stable democracy, a former British Colony and an active part of the Commonwealth. The benefit of having a strong British heritage is that Belize has a transparent legal system based on English Law. The legal system coupled with a fairly simple landholding and real estate transaction process, makes Belize a safer and better proposition than any other jurisdiction in the region. Belize is one of the few countries in the world where foreigners enjoy the same right as nationals when it comes to land ownership. Real Estate transactions are simple and similar in many respects to both the US and Canada. Condominium developments are extremely popular in Belize and the Government has kept up with progress with a clear Strata Title Law to ensure purchasers rights are protected. Purchases are subject to a Government Stamp Transfer Tax which at 2015 is 5% of the purchase price payable at closing, transfer of title usually only takes 60-90 days. Belize has absolutely no capital gains tax. That means any profit you are making in real estate has no withholding tax or capital gains tax. What you make in profit is what you keep. Property ownership in Belize is freehold and in perpetuity. Registration and title deeds can be held in the name of foreign companies, trusts or individuals. Take the guesswork out of diversifying your investment strategy and make an investment in a country that has shown consistent real estate appreciation and gains over the last 15 years, with so much more growth to come.PlacenciaOn the southern edge of Belize lies the peninsula of Placencia. This long narrow strip of paradise boasts over 16 miles (25 km’s) of luxurious sand beaches. The peninsula is home toRiversdale in the north and Placencia Village at the southernmost point.Placencia Village is a small quaint fishing village that is the virtual metropolis of this stunning peninsula. Great restaurants, art galleries, fun beach bars, dive shops, tour organizers anda laid back, yet festive Caribbean spirit combine to make this area one of Belize’s favorite locations. Placencia is well known for its friendly people and its festivals - join thePlacencia Lobster Festival, or enjoy the Placencia Art Festival. There is always something happening in this friendly and relaxed seaside village.Being in Placencia is like stepping back in time. Shed off your stress and become one with the gentle ebb and flow of life in this unique English speaking seaside village, where life isjust so much simpler …Placencia has been strategically targeted by Government for limited, eco-friendly upscale development and there will be a limit on the number of developments, to ensure a healthybalance between conserving the peninsula and responsible economic development for the people of Belize.Real Estate prices on the peninsula have continued to grow in value over both the short and long term, with Investors seeing fantastic appreciation and returns on their investment.Since the 2008 slowdown development pretty much stopped and there is very little new inventory available. We are now sitting at the starting point of an exciting growth curve thatwill add incredible value to the limited opportunities available on the peninsula.Placencia is easily accessible with both Tropic and Maya Air servicing the existing Placencia Airport. Currently under development is the new Placencia International Airport. Once thisairport is operational it will handle direct international flights to Placencia. 02

Palm Reef Resort“Our vision Is to develop a world-class Caribbean Resort that celebrates the values and natural beauty of Belize, and in doing so, delivers an exceptional lifestyle, retirement andinvestment opportunity.”Our vision has always been one of providing - it will continue as we complete The Palm Reef Resort community, one designed with our guest and owners experiences in mind.We believe that the Palm Reef lifestyle is directly influenced by the environment that surrounds us, so special attention has been paid to creating features and facilities, such as;light-medical and wellness center, tropically landscaped grounds, elegant waterscapes, stunning views; a choice of inviting dining experiences combined with exceptional service andtropical Spa. We envisage a vibrant and exclusive Caribbean resort community made up of visitors, residents, nature lovers and boating enthusiasts.Because of its unique peninsula location, every Residence at Palm Reef Resort has a spectacular view. To the east, there’s the sky and the blue of the Caribbean Sea. To the west,witness the peaceful calm of the mangrove fringed lagoon. Beyond that, wonder at the mystery and splendor of the Maya Mountains.Palm Reef has been designed from the ground up to simply be better than those that came before us… The resort features the Peninsula’s smartest designed lock-off suites - makingpotential rental returns almost double that of our nearest competitor.Designer residences combined with a professionally managed resort and rental program combine seamlessly to provide our owners with a turnkey solution to produce real results.Development StructureThe Development of Palm Reef is a traditional Strata Title development assigning ownership of specific residences and titles with a common area and Strata Corporation setup toadminister the common property through a management company.Palm Reef is broken down into three distinct phases, each named after a natural element; Air, Land and Sea, each individual building is further named after an endemic and uniquespecies of flora or fauna that make that particular element their home.Phase One (Air), is located on 400 ft. of Caribbean Beachfront. It will house 2 buildings with a total of 76 unique luxury Residences. The first building now available for sale is namedToucan after the famous forest dweller and hosts a selection of residences ranging from Studios, 1 Bedroom, 2 Bedroom and 3 Bedroom Penthouse Residences.All Residences have ocean or lagoon views with private balconies. Prices range from as little as US $149,000 to our top of the line Penthouse Suites sitting just over a million dollars.The Residences have all been designed to be used and maximized for hotel rental revenues. Residences in Phase One are now available for sale and completion is summer 2018.Phase Two (Land), will consist of 2 buildings and 76 Residences and will be developed across the road from Phase One, on 400 feet of Placencia lagoon frontage with stunningsunset views of the Maya Mountains and the Placencia Lagoon.Phase Three (Sea), will be developed for our Boaters on 400 ft. of Placencia lagoon frontage and will include access to a 50 slip Marina with Shops and Restaurant. 03

Purchasers Payment StructureThe purchase price for the Property is broken down into stage payments that mirror the level of construction of the project.This method of payment and development is standard throughout the Caribbean and is the “standard” for safety in real estate development throughout Belize.Deposit or Down PaymentAn initial deposit or down payment that reflects the level of construction of the unit, shall be paid upon signature of the agreement to the escrow account of Palmetto Holdings,Limited.Stage PaymentsStage payments are made at various construction milestones, according to the building’s level of completion and include owners’ units level of completion.• Completion of foundation structures• Completion of individual floor level slabs• Completion of individual ceiling level slabs• Completion of exterior walls• Completion of flooring, exterior windows, doors, electrical, plumbing and HVAC rough-in of each individual residenceBalance and TransferThe Final Balance Payment representing the remaining balance of the purchase price or 25%, shall be to the escrow account of Palmetto Holdings, Limited, on the date of thecompletion of the construction.Please Note: This is a preconstruction payment schedule. As we move into construction phases, down payments will rise to reflect the stage of construction/ completion your particularResidence is at in accordance with this schedule. 04

Rental ProgramPalm Reef Resort Residences have been specifically designed to meet and exceed “Industry accepted Brand Standards and Specifications” as required by of some of the world’sleading hotel chains. These standards determine: structural and building guidelines for design, room size, spacing, safety and security; service related requirements such as,telecommunications and entertainment, services and amenities, facilities, guest services and of course interior design standards for furnishings, fixtures and fittings.Each Residence has been designed to operate in a professional hotel environment to maximize operational efficiency and potential rental returns.We have had the benefit of working on and evaluating many programs throughout the region and have now designed a Rental Program that is balanced, fair and tipped in favor of theowners.The rental revenues on accommodation rentals are calculated on a simple basis, net receivable rental income is simply money received from rentals after subtracting Tax (1.75%) andHIC (Hotel Industry Commissions- Expedia, Hotels.com, Travelocity etc.). The net receivable rental income is then split 75% to you the owner and 25% to the management company.The management company has the task of making sure your unit is kept to the same standard as the day you bought it, making sure your Residence gets maximum market exposureand occupancy as well as making sure that you as the owner are treated like royalty when in residence.The rental program is voluntary and there are absolutely no restrictions on owner usage, whether it’s a week or three months, your Residence is yours to enjoy …Owners Referral ProgramSpecial attention was taken in designing a successful referral Program, a program that worked for the development and you, the buyer. After much research we realized the key tomaking it work, was making the incentive so good that buyers immediately shifted it to the front of their mental check list of why ownership at Palm Reef is simply a betterproposition… We all know people, whether you are part of a local charity or whether you are part of a social network. The key for us is to incentivize you enough to make you want toreach out and introduce someone to us at Palm Reef.We know from experience that success attracts success and like-minded people tend to be attracted to the same things.The Referral program works on the basis that for every person referred by you that purchases at Palm Reef, we will reduce your outstanding balance, by 7.5% of your referral’spurchase price. Talk about immediate equity building.Making a smart real estate investment is as much about timing as its about location, however the most important factor is price point. Simply put, buying at a low price and selling ata high price is and always has been the key to making money in real estate. All we have done is put an accelerated appreciation plan into your hands. Get 2-3 referrals and the gapbetween market value and purchase price has dropped 15-25%. What could usually take years can be accomplished in a few weeks or months.This program is an industry first and simply put, it’s back to basics. “Word of mouth” is the oldest and still the most effective and cost efficient form of marketing and advertisingthere is period.So go ahead, spread the word, you have nothing to lose but so much to gain … 05

Owners BenefitsBeing an owner at Palm Reef is more than just holding real estate. It’s about being looked after as a VIP - the happiness of our owners in residence is of paramount importance and isan integral part of our design philosophy.The term Turnkey Ownership is simply the best way to describe it. We take care of all the hassles, you enjoy your holidays and time in Belize. We do the maintenance; we also lookafter your unit when not in residence and if you are part of the rental program, we market and rent your residence when not in use.Arriving Owners at Placencia Airport are collected by our VIP Courtesy Vehicle, upon arrival at the Palm Reef Reception, owners are greeted as returning friends and part of thefamily, while your bags are whisked away to your Residence. Walking in to your Residence you are pleasantly surprised to see it looks the same as the day you bought it … This is whatTurnkey Ownership is all about, we take the worry and hassle out of ownership.Unfortunately, in most real estate investments, we usually end up working for the investment. At Palm Reef, we believe the investment needs to work for you … leaving you free toenjoy the most important investment you will ever have - “Time”As part of the Palm Reef family, owners also receive the following benefits:• 10% Discount on Restaurants and Bars• 10% Discount on Shopping and Spa Treatments• 10% Discount on Venue Rental• Owners participating in the Rental Program receive 30 days’ free maid and laundry service when in residence.• Professionally managed Rental Program with Reservations and Marketing Team• Low Taxation on Rental Revenues• Professional Management Company• 24-hour reception• Concierge• High Speed Wi-Fi• Airport Shuttle Service (Discounted) 06

Frequently Asked Questions - FAQ’s ABOUT THE DEVELOPERSWho is responsible for the development of Palm Reef?Palm Reef Resort is being developed by Palmetto Holdings Limited – a registered Belize company, duly incorporated under the laws of Belize.What is the management structure of Palm Reef?Palm Reef will be developed by Palmetto Holdings Limited. Well before each phase reaches completion a strata corporation will be setup to ensure fair representation for each andevery owner. The rental program will be managed by a professional Management Company on behalf of the residence owners.OWNERSHIP STRUCTUREAre there any restrictions placed on owners selling their units before the development is complete?For individual investors, there are no restrictions placed on selling your residence before completion of the development. For bulk purchasers and institutional funds and investors, arestriction will be in place.Who will manage the resort and rental program?A separate professional Management Company will be appointed.Are there any time limit restrictions on using my residence at Palm Reef?No restrictions.What is the Palm Reef legal structure?A fully registered Strata Corporation will serve as the legal structure for holding ownership as per the Strata Titles Registration Act of Belize, Cap 196 of the Laws of Belize, R.E. 2000.PURCHASING AND LEGAL SALEHow do I purchase a residence at Palm Reef?Purchasers would need to sign an Agreement of Purchase and Sale, followed by payment of the applicable deposit into Palmetto Holdings’ Escrow Account and provide normal duediligence documents as required under Belizean Law.What are the payment terms?Our exhaustive research into customer preferences and the most successful developments in the region, which where the least affected by the 2008 economic crash has allowed us, inconsultation with industry experts, to create a package that is the safest for our investors and the development, while offering the most flexibility for purchasers. Residences at PalmReef can be secured by paying a deposit equal to the level of construction of the unit.Additional stage payments will be required at specific stages of construction - verified by the Site Architect. Upon completion, you will have paid 75% of the total purchase price. Thefinal 25% payment will be due upon completion and transfer of property to the Buyer. 07

How does the escrow account work?Funds are released after each stage of construction is reached and signed off by architects.When will transfer of properties take place?This will take place when the last payment is received.Is there stamp / transfer duty payable on the sale?A 5% transfer tax is levied, as is standard for Belize.What are the estimated legal and closing costs?1.5 - 2% of the unit cost. Contact us for advice, as we have an agreed structure in place to speed up and reduce costs on closing.Are there any restrictions to repatriation of capital from Belize?None.Will the sale of my Palm Reef residence attract capital gains tax?No not in Belize, however based on an owners country of residency, you may have a requirement to declare any capital gains. Always consult a tax accountant in your country ofresidence for advice.Is there an inheritance tax in Belize?None.What are the annual property taxes and how are they assessed?Property taxes for the strata are included in the monthly home owners association (HOA) fee. Property taxes are very low in Belize and taxes for each individual residence is estimatedat approximately US $ 100 per year.Can a foreign company purchase real estate property at Palm Reef?Yes.Can ownership be held in a foreign trust?Yes.Can a trust be registered in Belize?Yes.What legal title in the units is passed onto purchasers?Land certificate (strata title).Can an IBC (offshore company) own property in Belize? 08Yes of course, but not a Belizean IBC. As with any IBC, it cannot conduct business within its domicile.

Is there any difference on the transfer of property in Belize for a resident or non-resident?None.Is there mortgage finance available to purchasers in Belize?Yes, through many local and international banks, however they will usually require a minimum 40% deposit.Can purchasers re-mortgage to buy a residence in Belize?Yes.RENTAL POOLHow does the rental program work?The rental program is the official rental channel for residence owners at Palm Reef. Residences are entered into the rental program where they are marketed and sold as hotelinventory through the management companies distribution platforms and channels. Net receivable income after standard industry accepted costs are split on a 75/25 basis, 75% forthe owners and 25% for the Management Company.How do I make a reservation?An owners reservations number will be provided to owners. This reservation hotline and dedicated email links directly to our front office / reservations department to ensure VIPtreatment for all of our owners.What notice period is required when reserving my residence?90 days for peak period (October to May). 30 days will usually be sufficient for all other times. Owners may reserve their unit on a last minute basis if there is not an existingreservation. Management will do their best to move paying guests to ensure we can accommodate our owners.How does the housekeeping charge work?US $10.00 per day and $5.00 per day for laundry. Fees are charged daily when rented and by request when owners are in residence. For owners participating in the Rental Programand while in residence - 30 days a year of housekeeping and laundry is provided free of charge.How is the rental revenue split?75% to owners and 25% to management.Can an owner rent out their residence on their own?No, all rentals must be handled by the Management Company.How often will I receive rental proceeds?Monthly, statements are sent electronically within 14 business days after the end of each month.Can the rental program income be used to pay strata fees?Yes credit balances can be assigned by owner to cover HOA / Strata fees. 09

Can I use my rental proceeds to assist in paying for my residence?Yes, the rental pool proceeds paid out to individual owners may be used at the owners discretion.What are my tax liabilities from receiving rental proceeds in Belize?None – all taxes are paid prior to receiving any rental fees.VISITING AND RESIDENCYAir access, how do I get to Belize?American Airlines, Delta Airlines, United Airlines fly and Southwest Airlines fly direct from various American cities, Taca Airlines flies from San Salvador and Guatemala withconnections from Los Angeles and San Francisco.What are the requirements for obtaining visitor’s visas for Belize?North Americans do not require a visa, some countries do require a visa.How long can I extend my visa for?Usually on a monthly basis – to a maximum of six months.How do I qualify for the qualified retired persons program? (QRP)?To qualify for the Qualified Retired Persons (QRP), one must be at minimum of 45 years old and provide proof of US $2,000 per month income for a couple.What are the benefits of the qualified retired persons program?It provides tax free import of household goods, cars, boat and airplane. The ability to work from Belize, providing the business is done with non-Belize residents. And of course theright to reside in Belize.What taxes/duties will be levied on cars/boats brought into Belize under the QRP program?None.Are there any tax liabilities imposed by Belize on my overseas income or pension while living at Palm Reef?None. 10

Jennifer Bernard Marketing & Sales Coordinator Belize (+) 501 610 5111Toll Free (US & Canada): 1-800-248-3982 Belize Mobile (+) 501 622 7181 marketing@palmreefresort.comLive the Dream www.palmreefresort.com