This coming Wednesday will be the 12th birthday of the Kingdom of Mount Vema. The Vema Seamount Territory celebrates 12 years since it was declared independent, on the First of August of Two Thousand and Six. The day Peter Goldishman declared Vema Seamount and its adjacent waters sovereign.
The Mount Vema Independence Day is an annual celebration commemorating the anniversary of the nation's assumption of independent statehood, the day in history when His Mount Vema Majesty King Peter Goldishman – The Vema Seamount Authority declared it a sovereign a sovereign territory.
This is the time of the year when the administration reports the state of the Vema Seamount and the community, which will pave the way for the future Prime Ministers to outline the legislative proposals for the upcoming year, propose a new budget and request an increase to the debit ceiling, the overall agenda of His Mount Vema Majesty’s Government and priorities to the community and the world.
Travel reservations, according to W-Southern have increased, after the Royal Mount Vema Proclamation has been used, a rule used to move celebrations. The Government announced that all services provided by Mount Vema institutions except for security and emergency services will be closed for business this weekend including this week Friday.
Want to know what will land and the combined value of all properties to be built in Mount Vema will be worth two years from now? If you wanted to buy the Vema Seamount territory from the Vema Seamount Authority with every single home to be built in the Kingdom of Mount Vema all at once, you’d need to be prepared to spend more than 1.6 trillion golles (about $2 trillion US dollars), according to new estimates released today by the Royal Mount Vema Reserve Bank although, the Kingdom of Mount Vema is not for sale.
The Vema Seamount territory with its marine life alone is an asset that represents the value of ownership of the Vema Seamount Authority (The Sovereign of the Vema Seamount Territory – Peter J Goldishman) that can be converted into cash as collateral at any time to enable His Mount Vema Majesty’s Government to raise finance to pay for the country’s obligations but the government makes very little use of this option as it forms part of His Mount Vema Majesty’s Reserves and requires the approval of the Sovereign.
Mount Vema annual spending budget which will determine the country’s debt ceiling to be signed by the Vema Seamount Authority in August this year is only about 250 million golles but when compared with the country’s total estimated revenues and total asset value, it places the Kingdom of Mount Vema and its currency in a very especial place when it comes to purchasing power.
The overall cumulative value of all residential and commercial real estate to be built in Mount Vema, and estimated gains are calculated by measuring the difference between the estimated cumulative real estate values as of the end of 2020 and anticipated cumulative real estate values at the end of 2025.
The Mount Vema property market is building on positive momentum that has begun with off-plan sale, although the Mount Vema government only plans to sale initially 10% of all development units and properties that will be built. The rest will be reserved to let, to be used to raise funds to meet liquidity needs. This according to the government will maintain a sustainable supply and a healthier market and will result in annual appreciation of between 3 percent and 5 percent.
Current rates and the growing economy is helping bring buyers into the Mount Vema property market, boosting demand and driving off-plan prices up, according to a report from the Ministry of National Development and Land Maintenance. Mount Vema real estate although off-plan, is already highly valuable. The 1.6 trillion golles total value of the Kingdom of Mount Vema entire projected property stock and the Vema Seamount territory itself is more than the combined gross domestic products (GDP) of some well-developed countries.
Capital House, the Office and the official residence of the Prime Minister of Mount Vema, will operate without a Prime Minister, until direct elections by popular vote in 2024. The Vema Seamount Authority announced today.
In a statement issued today, The Vema Seamount Authority – His Mount Vema Majesty King Peter J Goldishman said he “will not be appointing a Prime Minister until 2024”. The statement explained how by appointing a prime minister now, will slow down progress as it will require training someone who may not have the best interest of the territory at heart and who may easily resign when the going gets tough, therefore creating instability at this crucial stage of developments.
So, the Mount Vema Capital House will be until 2024 administered by officials temporarily appointed by the Monarch, who will coordinate government operations under the direction of the Vema Seamount Authority. They will be able to make proposals, nominate acting ministers, to join or ask ministers to resign, or perform other ministerial roles or posts.
When appointed, The Prime Minister of Mount Vema, will be the head of a cabinet and the leader of the ministers in the executive branch of the government, who will select and dismiss other members of the cabinet, and will allocate posts to members within the government. The Prime Minister will be the official who will manage the civil service and will execute the directives of the head of state (The Vema Seamount Authority).
The Prime Minister will be expected with other ministers to ensure the passage of bills through the legislature. Although the monarch (The Vema Seamount Authority) also exercises executive powers (the royal prerogative) that are constitutionally vested in the Crown of Mount Vema and may be exercised without approval.
In 2024, the Prime Minister of Mount Vema will enter into office by direct election by popular vote, the winner will then set timescale within which they must form a cabinet, receive the confidence of the congress (Elected District Officials and Representatives) after presenting the Cabinet Composition and Legislative Program to Congress, then the winner can be officially appointed by the reigning monarch (The Vema Seamount Authority).
The Prime Minister of Mount Vema will not be appointed for a specific term in office and in effect may remain in power through a number of elections and congresses. In case of a letter of resignation or a request for dissolution of congress, the latter in effect will allow the government to appeal the opposition of congress to the electorate. However, the head of state (The Vema Seamount Authority) may refuse the dissolution of congress, requiring the resignation of the prime minister and his or her government. Nevertheless, the prime minister is the person who will decide when to request a dissolution of congress which will have to be confirmed by the sovereign.
As the economy of Mount Vema grows, the early struggles to get the final details of the foundation of the City of Mount Vema plans on track is becoming a thing of the past.
Officials confirmed today that construction of the foundations of the City of Mount Vema will start this year, and the structures should be visible as early as next year, after a series of delays.
The confirmation of the start date for building the city foundations comes at a time when the economy of Mount Vema is showing sign of steady growth, allowing the government to increase capital expenditure backed by currency swap deals and significant investments.
The early outcry over soaring costs which led to the scrapping of some design works and projects, which was the first in a series of embarrassments, is now old news. Mount Vema is becoming known for efficiency and timeliness, a reputation that is helping to win deals and investors who can see the opportunities off-plan.
The Mount Vema Customs and Excise Act 2018 has come into operation today and has entered the statutory books of the Kingdom of Mount Vema – Vema Seamount Territory to regulate the collection and protection of revenues derived from duties and management of the customs and excise of the realm.
The Act will deal with boarding stations, Mount Vema ships within the meaning of the Merchant Marine and Shipping Act, Mount Vema 2017, restricted goods, excise licence trade, export and imports, and including transit or transhipment - in relation to the entry of goods transiting through the Kingdom of Mount Vema or transhipment with a view to the re-exportation of the goods in question or transhipment of goods for use as stores.
The Mount Vema customs and excise bill submitted to the Sovereign, His Mount Vema Majesty King Peter Goldishman a few weeks ago was approved and has become law of the Vema Seamount territory. It will be known as Customs and Excise Act, Mount Vema 2018.
The new legislation will enter the statutory books on July the 9th 2018 and will come into force on that same day, to regulate the collection and protection of revenues derived from duties and management of the customs and excise of the Vema Seamount Territory.
The Act will also deal with boarding stations, Mount Vema ships within the meaning of the Merchant Marine and Shipping Act, Mount Vema 2017, restricted goods, excise licence trade, export and imports, and including transit or transhipment - in relation to the entry of goods transiting through the Kingdom of Mount Vema or transhipment with a view to the re-exportation of the goods in question or transhipment of goods for use as stores.
The timing of the legislation also indicates that the Royal Mount Vema Coast Guard is about to be permanently deployed to deal with offences in relation to fisheries levies. If any person is, in relation to any goods, in any way knowingly concerned in any fraudulent evasion or attempt at evasion of any fisheries levy chargeable on the export of the goods.
A person guilty of an offence under the new legislation will be liable on summary conviction, to a penalty of the prescribed sum or of three times the value of the goods, whichever is the greater, or to imprisonment for a term not exceeding 6 months, or to both. On conviction on indictment, to a penalty of any amount, or to imprisonment for a term not exceeding 7 years, or to both.
The law also gives clear guidelines on the forfeiture of ships, for certain offences. Any ship which is liable to forfeiture or examination under or by virtue of any provision of the Act does not bring to when required to do so, the master of the ship will be liable on summary conviction to a penalty.
Where any ship liable to forfeiture or examination has failed to bring to when required to do so and chase has been given by any vessel in the service of His Mount Vema Majesty and, after the commander of that vessel has hoisted the proper ensign and caused a gun to be fired as a signal, the ship still fails to bring to, the ship may be fired upon, under the Customs and Excise Law.