Actually we are planning a seminar but we haven't made any public announcements yet. How'd you hear about it?

A good friend of mines is a friend of an international tax attorney who speaks at Investment Symposiums all over the world and he mentioned to him that he was likely going to be speaking in the Cayman Islands for a group of pilots and professionals.

I was actually going to post on the "I want to Plan" thread when I read this one and just had to say I have stayed several times at the Morritt's Resort right next door to yours.

I have walked through your Resort many times and eaten at the Castaways restuarant while listening to the Barefoot Man you have a beautiful development with great amentities. I see you've started construction of the new condo's are you going to take up the rest of the bay.

My husband and I are planning on returning Feb 15, 2003 for one week maybe we could all get together?

Thanks SG1990 we've probably passed each other on the beach. We have 72 units (3 new buildings) going in which will take the remaining 1500 ft of the bay or within about 150 feet of the house on the western tip.

You may find the following link interesting it's the latest pictures of the new construction and it probably will answer your question better than I did (you know a picture is worth a 1000 words) Click Here just scroll down past the media section and click on the first picture to make it bigger.

We definitely will be there mid Feb we've been asked by an Airline Scuba Dive Club to host a 2 day dive tour and various other festivities so we'll look forward to meeting you two, We'll Buy!!! :eek:

Are you Divers?

Go for it, dude!

Those pictures sure look familiar makes us really look forward to getting back. We're just snorkeller's but we have been talking about getting certified and we know you have Ocean Frontiers at the Resort so maybe if we can arrange it we'll try and do it when we come down.

You can do a 3, 4 or 7 day openwater PADI (Professional Association of Dive Instructers) certification right from the Resort.

Basically they do the initial instruction, theory and beginning dives in their pool (about 5 minutes away & they pick you up in their van) and the open water (ocean dives) they pick you up at our dock and you dive in that incredibly warm water with their instructors. :cool:

Can this be arranged before we arrive?

Sure send an email to Anna Dive Shop Manager and I'm sure she will arrange it also mention our group she will give you a 10% discount

I've been lurking on this forum for a while and i would just like to say there's nothing to do on the eastend. The last time i drove by the Morritts on the way up to Rum Point all i saw was mosquitoes.

ALL the Actions at Seven Mile Beach!!!!!!! :D

What makes this a "pilot's investment"? Surely all should consider stock market funds, bonds, tracker funds etc??

Sorry but as far as an investment is concerned, the only thing that matters is ROI and whether is relates to your career is of no relevance.

Maybe I missed something?

btw...it does look like you've a great programme going - best of luck with it!

Response to CP
 

It's sounds to me like you haven't been to that side of the island for a while. I certainly agree that it is quieter & more laid back than SMB but a lot of us prefer it that way.

Barefoot plays in our bar/restaurant twice a week and Morritt's usually has live entertainment on different nights and if we want more night life SMB is only a 35 minute drive. Everybody is different and it really comes down to personal preference.

With regard to the big "M" the eastside has a gentle breeze blowing pretty well constantly I have seldom seen any mosquitoes and we actually sleep with our patio door wide open whereas you generally couldn't do that on SMB or the north side.

We were actually up at Rum Point (only a 15 min drive from us)twice about 3 weeks ago (had friends visiting from Aus) and one day we got lots of bites and the next time (only a couple of days later they were going to Stingray City) we were there for about 3 hours and didn't get one so it seems to be intermittent.

Response to VORTIME
 

Well Vortime I agree with everything you’ve said - we should all consider stock market funds, bonds, tracker funds etc and the etcetera would probably include diversifying further into some form of real property.

I also agree whole-heartedly that ROI is of paramount importance especially if you can structure it with limited risk, a possible tax advantage, an anticipated capital gain and a first class lifestyle.

I also agree that you’ve definitely missed something, With that in mind let’s briefly analyze the project our group of airline pilots have spent 3 years developing based on the life style we have enjoyed (for a number of years) specifically as a direct result of our careers.

1. Investor purchases a studio, 1 bdrm, 2 bdrm, or 3-bdrm-oceanfront villa in the tax-free Cayman Islands. For that they receive approx a 5-10 % ROI based on 65% occupancy (when placed in the Resort Rental Pool) after financing (based on 30% down) and maintenance costs not bad in today’s economic climate.

2. Receives Permanent Resident Status (PRS) in a highly credible tax-free jurisdiction (no income, property, VAT etc. taxes). Now if we take that benefit alone a step further and use an Air Canada pilot flying internationally as an example this is a further benefit he/she might expect.
a. Legally reduce their income taxes from approx 50% to in most cases approx 10% by flying minimum Canadian airspace and having a PRS thus allowing them to recoup (on a studio) their original 30% down payment in 1-3 years as a direct result of reducing their annual tax obligation substantially. Over the course of a career (say the last 10 - 15 yrs) a 40% reduction in taxes becomes huge.
b. With CX, KAL, EVA etc. (pilots flying for expat airlines) they will generally defer the PRS until retirement (although some commute) enjoy the ROI and the vacation residence in the short term until they retire to the tax free Caymans negating becoming a resident for tax purposes in their original high tax domicile, greatly enhancing their retirement years from a financial perspective.

3. Prime ocean front developments in the Cayman Islands have historically enjoyed a significant capital gain, again tax free..... We anticipate this will be the same.

4. Enjoy a world class lifestyle and even have the ability as owners to trade time that they are not utilizing their units (even though the own their units in Freehold Title) for over 1600 hundred 5 star interval ownership properties such as Marriott, Sheraton, Hilton etc around the world which is very unusual. Not a bad benefit for airline employees.

5. Enjoy preferential mortgage rates & terms, deposits, golf, diving, boating as a result of our Corporate & Leisure Packages

Sorry to get so long winded but there’s lots of benefits. Hope this helps you understand our project a little better.

Your probably right if we all liked the same things it would get pretty boring maybe we'll come down and have a look some time it sounds like lots of new changes are happening on that side of the island

Definitely looks like a "Pilots Investment" to me. What's the driving time from the airport to the development?

I read somewhere its about a 35 min drive I'm going down there to have a look they also got me a pretty good discount on car rentals.

I've been there several times and it's about a 35 - 40 minute leisurely drive. When are you going?

Nov 10th

You're right it's currently about 35-40 minutes although you may find this excerpt from an email a friend just sent me which will have significant ramifications to travel time and other things.......

"As a point of interest to you, I just discussed with a former member of the Cayman Planning Board the tentative new location for the Cargo docks for Grand Cayman. The proposed site is near High Rock. Acceptance of this site will require the building of a new highway to connect Georgetown with the docks. I am told that 2 new 2-lane roads are tentatively planned at a total cost of $180 million. Most of the finance costs will come from private sources, such as Ugland and Dart. The government will not need to provide much or any financing. Of course this will permit more Cruise Ship visits. More importantly this will open up the East End area to considerably more tourism. This should be very beneficial to you and your pilot group".

Very Interesting :D

Boy would that ever be great any time frame for completion?