Q. What legal title in the villas will be passed to purchasers?
A. All villas in the The Ocean Estate are sold and transferred to purchasers on freehold title.

Q. What are the formalities imposed by Seychelles law in respect of the transfer of freehold title in Seychelles?
A. Freehold title in immovable property may be transferred as of right to a Seychellois national. For any non-         Seychellois national, such transfer can be effected subject to sanction having been obtained from the         Government of the Republic of Seychelles in terms of the Immovable Property (Transfer Restriction) Act. This         required sanction application will be facilitated by the sales and marketing agents and will be submitted to relevant         authorities as part of the sale process.

Q. What is sanction and how is it obtained?
A. Sanction approval is required for every non-Seychellois for purposes of owning immovable property in         Seychelles and will be facilitated by the sales and marketing agents. This is a formal application process and         various documents are required to be submitted with the application. These documents include character         references, police record certificates, copies of passports, etc. Full details hereof will be provided to each         purchaser.

Q. What ownership structures are available to purchasers?
A. The purchasers can acquire the villa in their personal names, or in the name of a corporate entity.

Q. Can a local holding company be established to own property?
A. Yes, a local Seychelles company can be registered, the shareholding in which can then be structured to conform         with the requirements of each purchaser.
        A foreigner purchasing shares therein will be subject to obtaining government sanction.

Q. Are there any other types of companies that could be used to hold an interest in property in Seychelles?
A. An interesting and versatile form of company is the Seychelles International Business Company (“IBC”), which is         tax-free corporation designed for engagement in all forms of international business, with no minimum reporting         and record- keeping requirements and comprehensive confidentiality features. They can be set up within 24 hours         by non-resident shareholders and the annual fees are low.
        An IBC cannot hold an interest in any Seychelles immoveable property, however it can hold an interest in shares,         thus it could hold shares in a local property holding company. It is regarded as a foreigner for these purposes, so         sanction will be required for the IBC to own such shares.