By: L.N. Reklai
(Koror, Palau) Advertisement of houses for sale in Palau on a Chinese website, offers different sizes of houses with certain benefits such as right to live in Palau for 99 years and direct access to United States after two years as well easy visa access to countries such as Japan, Korea, Philippines and Taiwan, this according to www.palauchina.com website. [restrict]
The advertisement offers sizes of houses and lots, ranging from $90k for 70sq.meter house to $150k for 100 sq. meter house. Each purchase comes with Palau Residence Permit, and direct access to United States after 1 to 2 years and easy visa application process from Palau to other countries.
Furthermore, if offers that the Palau-China Chamber of Commerce will handle the rental of houses for the foreign owners , offering returns of 15 to 20%.
It also offers investment an investment opportunity in new city development called Wandi on 2 to 4 million square meter of land. The investment offers 15% to 20% rate of return on nearly half a million dollar investment each year, that’s about $65K to $87k per year.
The website cites other benefits if people apply for work permits in Palau such as becoming eligible for social security retirement benefits when they reach 60 years of age.
The prices offered for the real estate do not include a $2,000 fee per person for local government accreditation fee.
According to Republic of Palau Business Regulations and General Business Resource handbook published by Palau Small Business Development Center under the Ministry of Public Infrastructure, Commerce & Industry and Palau Community College, Palau does offers an Investor Visa which is renewable every five years and for persons that have valid Foreign Investment Approval Certificate.
None of the 16 State governments charge any accreditation fees, according to the publication.
Furthermore, visa-free access to United States is for Palauan citizens only in accordance with the terms of Compact of Free Association between Palau and United States of America. [/restrict]