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And if I Decide to Sell my Membership? |
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The membership fee is set at US$10,000 at the outset and then rising by US$500 with every new 50 memberships sold. This formula is to reflect that the value naturally rises with the size of the community and degree of development. Thus, the value of your membership is expected to rise (even before you build your vacation home).
Every Member is free to sell his/her membership at any time, so long as the purchaser meets the minimum requirements for membership (20 years of age or over, good character, not bankrupt, no criminal record). The
Member may sell his/her membership at any agreed price. In some cases the Club may be able to assist in arranging a sale.
Sale of a membership means sale of the Member's right to his/her land in Vanuatu, together with the other privileges of membership. Thus, the new Member will acquire the Member's land in Vanuatu or (if the land has not yet been registered in the old Member's name) the right to receive land when committing to build a vacation home.
The Club must be kept advised of any sale of a membership, so that the new Member's rights are properly registered. A modest transfer fee will apply: US$1,000 where the land has already been formally registered in the Member's name; US$500 where the land is still held by Vanuatu-Japan Friendship Corporation.
Where a Member sells his/her membership (and no longer holds any additional memberships), he/she will not be entitled to re-join the Club later. This rule is to prevent the Club being used as a vehicle for repeated short-term speculation. Our goal is to build a long-term community of individuals committed to our mission.
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