www.fijisun.com.fj - 7 December 2009
The Fiji My Second Home Programme which allows foreigners to stay in Fiji on a multiple entry social pass will inject investment and growth, says Tourism Fiji board chairman, Patrick Wong.
The initiative was part of policies introduced by Government.
Others include the reduction of fiscal duty, and tariffs on marine vessels used extensively by foreigners as part of their leisure time in Fiji.
Mr Wong said the programme encouraged investment into Fiji because it was the hub of the South Pacific.
He said the programme would also give birth to new market development in the tourism industry like retirement villages, medical tourism and educational tourism.
The criteria requires those below the age of 50 to have a minimum deposit of F$150,000 (reduced from $300,000) and maintain the deposit in Fiji for a minimum of two years) to qualify.
After two years, a participant can withdraw up to F$100,000 (reduced from $250,000) to purchase properties and meet approval expenditure.
The participant must maintain a minimum balance of $50,000 (reduced from $100,000) from the third year onwards and throughout the entire stay in Fiji under the programme.
For ages below 50-years require a minimum deposit of F$100,000 (reduced from $200,000) and maintain the deposit in Fiji for a minimum of two years.
After two years, the participant can withdraw up to F$50,000 (reduced from $150,000) to purchase properties and meet approval expenditure.
Mr Wong said the initiative would encourage former Fiji professionals to return home to take up residence and use their skills in Fiji.
"It will encourage more foreigners investing in properties, holiday houses and villas. That will see more developments like integrated resorts like Denarau, Natadola and Momi.
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