Your Questions Answered
When was the land in Nova Scotia, Canada purchased?
The land in Nova Scotia, Canada was purchased in 2007. Prior to purchase, Terra Firma, the development company, had carried out extensive due diligence and surveyed several potential sites in the Halifax area, before deciding that the 1,700+ acre site had the greatest potential for rezoning and achieving planning permission in order to develop Forest Lakes Country Club.
What is the current zoning (classification) of the land?
Infrastructure and Phase 1 development is currently underway. The land was rezoned in June 2008 to permit a ‘Resort Development‘ with many amenities including an 18-hole golf course, luxury boutique hotel, international conference centre plus a broad mix of residential housing on a variety of plot sizes and complimentary commercial outlets. The Development Agreement i.e. overall planning permission was achieved in August 2011.
What about taxes and fees?
The predicted return on investment is estimated before any applicable tax. According to professional tax advisors in Canada, the Capital Gains Tax for a non-resident individual disposing of real property in Canada is between 11.0% and a ceiling of 21.5% less any expenses.
What is the expected capital gain?
The Development Company is offering a Fixed Return of up to 100% for investments over £20,000+.
What is the exit strategy?
There are three ways to exit the investment. You are able to cash in your investment by selling it back to the development company or exchange your land investment towards the cost of an off-plan property or building plot at Forest Lakes Country Club. To discuss your exit strategy in greater detail, please contact us.