City of Mount Vema

The evolution of the Vema Seamount Community from a claim of a tiny submerged ancient island which has eroded by millions of years of wave action, to today's statehood, adding to the existing number of sovereign nations in the world and the number of existing monarchies, stands as an unprecedented phenomenon in the history human evolution. Now a sovereign territory inextricably linked with The Vema Seamount Authority - Peter J Goldishman, Kingdom of Mount Vema is the official country name, and City of Mount Vema is the floating city project, aiming to be the world's largest floating City-State. The city project is divided into 10 districts and each district is divided into 7 neighbourhoods each, totalling 70 neighbourhoods within the City of Mount Vema, with each district able to accommodate about 50,000+ people.

District Tax - Levy on a property in Mount Vema
District Tax is a taxation system introduced before the construction of the city of Mount Vema is completed to help off-plan buyers (owners of Mount Vema title plans) to better manage their long-term financial plans. Districts are assigned bands, based on property average value, and the tax is set as a fixed amount for each band. The more valuable the property, the higher the tax, to cover the district expenditure.

Liability for District Tax
The occupiers of a property are liable, regardless of tenure, or the owners if the property is unoccupied, except if the property is a 'house in multiple occupation', in which case the landlord is liable for paying the District Tax.

District assigned bands - Annual Rate

Eastland: Band A (Rate (700 golles)
Northland: Band B (700 golles)
Pashant: Band C (800 golles)
Southland: Band D (900 golles)
Bella Vista: Band E (1000 golles)
San Miguel: Band F (1000 golles)
Roseland: Band G (1000 golles)
Westland: Band H (1000 golles)
Maryland: Band I (1100 golles)
Neverland: Band J (1200 golles)

Pashant

Bella Vista

Neverland

Roseland

Northland

Southland

Westland

Maryland

San Miguel

Eastland

Climate: - Located just south of the Tropic of Capricorn the weather in Mount Vema fluctuates little through the year, and it is very different from other countries in the region. The climate is mostly Mediterranean, but can be wet and overcast with clouds/fog/mist/haze, with winds of about 4 (light air) to 30 (Fresh Breeze) kilometres per hour average, although winds can sometimes exceed 40 kilometres per hour (Strong Breeze). The temperature is marine, 14 °C to 21 °C average, with humidity sometimes exceeding 80%. The lowest temperatures can reach 2 °C and the highest 28 °C.

Investment Opportunities

The Territory is earning the reputation amongst global investors as the ultimate place for property investment in the South Atlantic (see the real estate market), as it already saw a growth in the property market by approximately 17% in the first half of 2019, which estate agents are labelling as a Mount Vema ‘off-plan property boom’. The expected influx not only of construction in the island but also the service industry is reeling in quite a crowd, from investors to first-time buyers, who are looking to reap the benefits of new and exciting investment opportunities. Businesses in various industries, including the financial, creative and technology sectors are signing up fueling the growth. The financial and services sector, in particular, is causing the residential off-plan market to flourish and is making the territory a likely hotspot for young professionals. The City of Mount Vema is expected to overtake, its regional neighbors as the regional undisputed financial capital, fueling a jobs boom and a vigorous corporate rental market by 2025.

There are more than 6,000 units available for development, that can be developed into both floating and fixed structures standing on concrete piles without the need for drilling on the island which is already below sea level. The structures are designed to protect the marine life and to not to obstruct the sea currents. Because the Government is only selling a selected number of off-plan development units and off-plan properties, early investors are already enjoying the investment opportunities through buying and selling off-plan (Off-Plan Market) to make a profit almost on daily bases before construction starts and before completion.

Law of Property (Vema Seamount) Act, Mount Vema 2019.pdf
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Foundation Infrastructure Act, Mount Vema 2018.pdf
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