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This letter highlights an important amendment to the Land Sales Act introduced in the recent Fijian Government budget.

  • Any state land or freehold land for residential purposes in any area within the boundary of any town or city declared or extended under the Local Government Act (Cap.125) shall not be sold, transferred or leased to a non-resident.

However there have been amendments made to this rule, which are:

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Resort Homes Fiji presents some general information designed to those contemplating doing business in Fiji. This information while current is not intended to be comprehensive, you should always consult us before taking further action.

Doing Business in Fiji – Part 2 Investment Factors

Investment Fiji

Investment Fiji, formerly known as The Fiji Trade and Investment Bureau (FTIB) was created to facilitate and promote investment in Fiji.

The board consists of representatives from Government and private sector and acts as a liaison between and facilitates dealings with Ministers and governmental or semi-governmental departments.

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The Fiji government has imposed new restrictions on land sales to foreigners and on existing foreign property owners.

The government had originally planned to ban foreigners from buying land anywhere in Fiji.

Instead, it has passed amendments to the Land Sales Act that prevent any land within town boundaries from being sold to foreigners.

The legislation means foreigners who currently own houses in Fiji cannot sell it to other non-residents, potentially causing a drop in the value of their properties.

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Fiji is open for business, says Prime Minister Rear Admiral (Ret) Voreqe Bainimarama.

Speaking at the opening of the Fiji-Australia Australia-Fiji Business Council forum at the Grand Pacific Hotel in Suva yesterday, Mr Bainimarama said there were great opportunities for those with the enterprise and foresight to take advantage of the new era of prosperity.

“In fact, this past Friday, for the first time in Fiji’s history, Cabinet met with all of Fiji’s development partners to highlight government’s top priorities for the next four to five years and point out areas where partnerships would be most useful,” he said.

The meeting was also attended by representatives from United Nations agencies, European Union, International Monetary Fund and the Asian Development Bank.

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Progress on the much-awaited The Pearl South Pacific resort development is on track for its planned August 2015 grand opening.

The Pearl Resort redevelopment is said to highlight the potential of Fiji’s adventure capital Pacific Harbour by creating 190 additional jobs.

The new state-of-the-art facility is being undertaken in three phases, with the investment by PNG’s Mineral Resources Development Company now estimated to be $85 million. The project which started two years ago has already seen construction of the new marina and new rooms, conference facilities, gym and spa and fine dining restaurant.

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Resort Homes Fiji presents some general information designed to those contemplating doing business in Fiji. This information while current is not intended to be comprehensive, you should always consult us before taking further action.

Doing Business in Fiji – Part 1 General information

Location and Climate

Fiji is an independent republic situated in the South Pacific approximately 3,100 NE. of Sydney, Australia and 2,100km N. of Auckland, New Zealand.

Fiji consists of 332 islands. the two main islands are Viti Levu and Vanua Levu and these tow islands comprise more than 85% of the total land area. The capital of the country is Suva, situated on the South Eastern coast of Viti Levu.

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Property sales continue to grow in Pacific Harbour, recent local developments and good seasonal weather has since an increase in tourist numbers to Fiji, resulting in a bonus for those looking at investing in Fiji Property. With recent upgrades at The Pearl Resort including construction of multi-purpose Marina and plans to redevelop the Pacific Harbour Golf Club and Uprising Beach Resort, its a very exciting time to be in Fiji at present.

Below we look at some Fijian Properties in and around Pacific Harbour which are great value in today’s real estate market.

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tourism-jetski

Fiji Thrives in Tourism and Investment

Fiji has stamped its mark as the leading tourism industry in the Pacific.

And according to ANZ’s Asia Pacific Economics quarterly report, Fiji was one of the largest Pacific economies and was systemically important to the tourism industry in the region.

With the tourism industry being one of the largest contributors to gross domestic product (GDP), the bank said data from the Fiji Bureau of Statistics regarding arrivals were available on a timely basis than most of the Pacific.

“From 2002 through 2012 annual tourist arrivals into Fiji climbed from 397,859 to 660,590, averaging growth of 6.3 per cent per year,” the bank said.

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