Strong Government Support & Legal Framework
MID’s Heads of Agreement (Concession) – backed by the Mayaguana Legislation, passed by the Parliament of The Bahamas – provides unparalleled legal security and Government support, ensuring long-term project stability
KEY TAKEAWAYS
01
Development Partner
Development Partner means MID and “any other person or entity involved in the ownership of land or the construction, management or operation of improvements thereon in the Development Area” enjoy all the benefits and rights of the Mayaguana Act and Heads of Agreement
02
Prime Minister
Expedited Approvals: Special Mayaguana liaison officer in the Office of the Prime Minister to fast-track approvals, significantly reducing bureaucratic delays and ensuring smooth project execution
03
International Port of Entry
Port of Entry Status: GoB committed to making Mayaguana an official port of entry (i.e., customs & immigration)
04
International Shipments
Direct entry of international shipments of equipment, materials, supplies, etc. arriving either by sea of air
05
Work Permits
Fast tracking of necessary work permits for skilled labor
06
Increased Flights
Increased Commercial flights to Mayaguana: contemporaneously with the opening of the Boutique Hotel, Bahamasair and/or another commercial airline with same-day connections in Nassau to and from the Northeastern United States (3+ days/ week)
Exclusive Development Rights
Sole Rights for Overwater Bungalows
Exclusive right to establish overwater bungalows – not available elsewhere in the Bahamas – a highly lucrative and much sought-after feature in luxury resorts.
Employee Housing
Government commitment for incoming employees within the existing settlements or on Crown Land, addressing a critical logistical challenge for large-scale developments. Current housing stock suitable for additional ~90 employees.
HOA/ Act of Parliament grant MID and its Development Partners wide permissions to excavate, dredge, construct wharfs/ docks as well as build hotels, subdivision developments, home sites, marinas, etc. on the Island of Mayaguana.
Re-establish Tidal Connections: right to execute works to re-establish tidal connections between the Ocean and Flamingo Pond (i.e., Flamingo Island).
Right of First Refusal for Key Infrastructure
The company has the exclusive right to manage the airport
Develop and manage all utilities connected to its developments, including the option to charge “commercially reasonable” rates to recover capital investment/ operating costs