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Frequently Asked Questions
IOCS reserves the right to change the information given in the answers to the Frequently Asked Questions at any time without notice or liability.
1.   Land and Building
(a)  Land
      Q.1 When can I claim my land?
      Q.2 How big is each Lot of land?
      Q.3 The Agreement for Lease talks about an Estate Management Agreement.
            What does that mean to me?
      Q.4 What kind of recurring expenses should I expect?
      Q.5 When does my lease start?
      Q.6 What happens at the end of the lease in 2080?
      Q.7 Does the restriction of ownership to IOCS Members
            decrease the value of my land?
      Q.8 How many Lots can I select?
(b)  Building
      Q.9 How big is a Building Plot?
      Q.10 What are the minimum size and value constraints for building?
      Q.11 What kind of property can/must I build?
(c)  Exchange of Lots
      Q.12 What happens if I don't build? Will I lose my land?
      Q.13 Why do you impose a building covenant?
      Q.14 How many Lots can I select in each Phase?
      Q.15 How many Lots must I build on?
      Q.16 How can I be sure that I am following all these rules?
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(d)  Location
      Q.17 How far is my land from the sea?

2.   Leisure Facilities
(a)  Local
      Q.18 What local leisure facilities are there?
(b)  Principal
      Q.19 Where is the Principal Club House

3.   Group Structure
      Q.20 The Agreement for Lease is made with IOCS Real Estate Ltd.
        What is this company?


1.   Land and Building
(a)  Land
      Q.1 When can I claim my land?
Now! Click here to go to the plan on the website and make your choice.
At the moment there are not enough measured lots for selection by everybody but IOCS has more than 3,500 hectares of land which is more than enough for all present members and further land will be released soon.
      Q.2 How big is each Lot of land?
1,000 sq. m. more or less
      Q.3 The Agreement for Lease talks about an Estate Management Agreement.
                 What does that mean to me?
As far as possible, IOCS will allow freedom and flexibility in the design, building and management of Members’ personal properties. However, if some Members go “over the top” in any of these respects it could affect both the enjoyment of their property by other members and the value of other properties or even the whole Estate. Certain reasonable restrictions, therefore, need to be put in place for the benefit of the community as a whole.

This agreement also provides foer the professional maintenance and management of Kholeu Estates over the long term.
      Q.4 What kind of recurring expenses should I expect?
Unless you are a PCS member, you will need to pay to IOCS Real Estate Ltd. a nominal ground rent of US$10.00 per annum per Lot of your land starting from the time the Lease starts. After your property is built, all members will need to contribute to the cost of managing and maintaining the common parts of the Estate. This will be allocated on a per-Lot basis and charged at cost.
      Q.5 When does my lease start?
Your lease can start at any time after the Building Start Date applicable to the estate and zone in which you have reserved a property. However, once you sign the lease, you must pay your annual $10 per Lot comprised in the Lease and you are then committed to that Lot and its building covenants.

If you wish to retain flexibility to exchange your Lot(s), you may delay entering into the Lease until you are certain that this is the Lot you want or until the Building Commencement Date applicable to your Lot(s).

When you enter into the Agreement for Lease, you acquire an inalienable right to the Lots specified so no one can take them away from you but you are free to exchange them if you decide you prefer a different Lot until you enter into the final Lease. We therefore recommend that you do not take the final Lease earlier than necessary.
      Q.6 What happens at the end of the lease in 2080?
The initial 75 year lease is renewable for a further 75 year term. The detailed conditions of renewal are not set yet but Vanuatu law provides that, if the lease is not renewed, the whole of the investment made by lessee must be repaid.

In view of the very substantial investment that IOCS will make in Vanuatu on the land and the significance of its commercial presence, we believe that IOCS will be able to obtain the most favourable terms possible for renewal.
      Q.7 Does the restriction of ownership to IOCS Members decrease the value of my land?
We believe to the contrary. Membership of IOCS is open to almost everyone so the size of the market place for your land is not restricted. But, if a person was deemed unsuitable for membership of IOCS, you would probably not want your neighbour to be able to sell his land to that person and your neighbour wouldn't want you to be able to. By protecting residents against truly undesirable elements in the community, we believe that we help to maintain and enhance the value of your land.

Incidentally, by restricting ownership to members, we also remove the liability to certain transfer duty charges which, again, helps to maintain the value of the land itself.
      Q.8 How many Lots can I select?
In the first Estate (Kholeu Estate) you can select up to 4 Lots. If you are entitled to more than 4 Lots, you must wait for another Estate to select the remainder of your Lots.

You are not compelled to take all your Lots in the first (Kholeu) Estate. Future Communities may have land or a community theme that you find more desirable. Just as with stocks and shares, there is value in diversifying. So, if you are patient, you might benefit from holding back some of your Lots for future Communities.
(b)  Building:
      Q.9 How big is a Building Plot?
Each lot of land can be a separate building plot. Or you can consolidate 2 or more lots into a single building plot. But, if you do there are certain minimum size and value constraints to what you can build. See Q.10.

To consolidate more than 2 Lots you will need to get consent from IOCS.
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      Q.10 What are the minimum size and value constraints for building?
No of Lots in Building Plot Minimum Living Area Minimum Building Cost
One (1) 150 sq. m. VT8,000,000/ US$75,000
Two (2) 275 sq. m. VT15,000,000/US$140,000
Three (3) 400 sq. m. VT21,000,000/US$200,000
More By special arrangement By special arrangement

      Q.11 What kind of property can/must I build?
There will be at least 5 pre-approved model house plans available for immediate selection for single Lot building and at least 3 for double-Lot building. All other building will be by special arrangement with IOCS Real Estate Ltd.. The prices of the pre-approved models will be related to the minimum prices set out in the table in the answer to Q.10.
(c)  Exchange of Lots
      Q.12 What happens if I don't build? Will I lose my land?
No. You will never lose your land. You have already acquired an inalienable right to it. But, if you are unwilling or unable to build within the building covenant period you may be required (at your choice) either to sell your land or to exchange it for land with a later building covenant date.
      Q.13 Why do you impose a building covenant?
Actually, at the moment, because of the intense demand for “no-build” land, we are not imposing any building covenant dates.
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      Q.14 How many Lots can I select in each Phase?
You may not select more than 4 Lots in the entire Kholeu Community.
      Q.15 How many Lots must I build on?
In Phases 1 and 2 you may only keep one unbuilt Lot after the building covenant date for each Lot that you build on.
There is no time limit for building on Lots in either Zone 2 or Phase 3.
      Q.16 How can I be sure that I am following all these rules?
The online Lot selection procedure will check as you select the Lots, alert you if you attempt to select a wrong Lot and guide you as to what you should do.
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(d)  Location
      Q.17 How far is my land from the sea?
The right hand border of the first Estate is at the top of a gentle slope rising up from the sea, several hundred metres from the beach.

2.   Leisure Facilities
(a)  Local
      Q.18 What local leisure facilities are there?
Each Estate will have at least one Members' Club area with swimming, tennis and/or other facilities.
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(b)  Principal
      Q.19 Where is the Principal Club House
Each Estate will have its own recreational facilities but the principal Members’ Club will be on common land at the seaside in the best location available which is still under negotiation at the present time. Further details will be provided as soon as the relevant lease is committed. This facility will serve Members and their guests as well the patrons of the local resort hotel(s) and will provide a full range of water sports and other usual resort facilities.
3.   Group Structure
      Q.20 The Agreement for Lease is made with IOCS Real Estate Ltd. What is this company?
IOCS International f.m.b.a. is a company incorporated in Denmark with an international membership. Anything actually done in Vanuatu must be done by a locally incorporated company. IOCS Real Estate Ltd is an IOCS group company incorporated for the specific purpose of acquiring, sub-leasing and managing the Vanuatu project land.
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