How this can work legally: an options map for the four centres

How to read this

Each section is one question. Under it: SOLID (rules that are settled and can be built on today), CHOICES (the forks, with what each one drags along), DEAD ENDS (paths the rules close), and OPEN (what stays dynamic until a parcel, an entity or counsel settles it). Two marks travel through the whole map: must must (the piece is required if that fork is taken) and optional optional (can be added or dropped without changing the shape). Where a piece is about who owns versus who stewards, it says so.

The two rules that do not move anywhere in SHUR: land is held apart from the money that operates on it, and money enters only as a loan or a gift, never as equity. Every country below only changes which legal forms carry those two rules.

1. Securities: is a Residency Right placed before the build a security?

Solid The US test is functional: money in, a common enterprise, an expectation of profit, from the efforts of others (Howey, 1946). Where the buyer's motive is to use or consume the thing bought, the securities laws do not apply (Forman, 1975); a 2020 court held non-transferable timeshare points bought for the buyer's own use are not securities, and stressed it is the facts, not the name, that decide. The SEC's own line on resort use-rights (Release 33-5347) names the three things that pull a use-right into securities territory: a rental pool or any arrangement where the operator rents the unit and shares revenue; limits on the buyer's own occupancy; and marketing that talks about income, appreciation, resale or returns. A US resident who buys from inside the US, or is sold to inside the US, is under US law whichever country the centre is in; the offshore safe harbour (Regulation S) needs the buyer outside the US when they order and no selling effort directed into the US (Reg S FAQ). Texas exempts a registered timeshare plan from securities registration (Property Code 221.025); Oregon says the same for registered membership camping contracts (ORS 94.989). None of the three foreign countries has a dedicated timeshare law; a prepaid stay product there is judged under consumer and lodging rules.

Choices - A. Pure use-right. Sold for the holder's own stays, no rental pool, no resale market, no income talk anywhere. must must: marketing and the residency agreement say use and nothing else; unused months, if handed to others, settle in credits that never convert to cash. This is the fork the model already sits on. - B. Use-right with a rental pool or cash-out. Unused months rented out by the operator with cash back to the holder, or a buy-back or resale channel. must drags in the securities analysis in the US and probably registration or an exemption; also changes the tax picture for any nonprofit holder. optional optional to ever open this fork. - C. Register as a timeshare or membership-camping plan where a state offers it (Texas, Oregon). must must: fit the state's definition (recurring periods of use) and register with the state agency. optional optional, and only worth it if the securities question comes back uncomfortable.

Dead ends A private-membership wrapper does not by itself take a product out of the securities laws. "Offshore" does not cover a US resident sold to at home.

Open Whether the three foreign countries' consumer rules require anything for a lifetime prepaid stay (nothing dedicated found). Whether the credits system, once written, stays clear of "cash equivalent". Which state law applies to a sale to a US person (buyer's state, seller's state, or both).

2. Ecuador: can a fideicomiso mercantil be the land holder?

Solid A fideicomiso mercantil is a separate estate; creditors of the settlor, beneficiary or fiduciary cannot reach the trust's land, but creditors of the trust itself can, so a construction loan taken by the trust is secured on it (LMV arts 109 to 122; Lexis 2024). The fiduciary must be a licensed trust administrator supervised by the Superintendencia de Compañías and cannot be a beneficiary. Duration is capped at 80 years, except where the purpose is cultural, research, altruistic or philanthropic (LMV art 110). The 2025 Transparency Law reaches nonprofits (registration, reporting, foreign-donor identification, dissolution for a year of inactivity and other grounds); it names trusts nowhere except to exclude investment trusts from one tax rule (NMS Law). Foreigner land bar is 20 km from the border, not 50 (Ley de Seguridad Pública arts 39 to 40); beaches are public and reserved security areas can be declared anywhere by coordinates.

Choices - A. Fideicomiso holds the land, a local company operates. must must: the deed expressly authorises borrowing and a mortgage, names who has say (settlor rights), and fixes the fiduciary's fee; must the purpose is written to fit the philanthropic exception if the trust is to outlive 80 years. Owns: the trust. Stewards: whoever the deed names as settlor or protector. - B. Fundación holds the land. Native nonprofit shape. must drags in the Transparency Law's registration, reporting and dissolution exposure. optional optional, and the reason the trust was preferred. - C. Company holds the land, purpose written into its bylaws. Simplest, weakest lock. optional optional fallback.

Dead ends A trust with an ordinary residential purpose ends at 80 years by statute. A nominee-free but foreigner-owned holder inside 20 km of Colombia or Peru.

Open Whether SHUR's purpose qualifies as philanthropic under art 110 (this decides whether "held for ever" is even available). Whether a lender will lend to a trust with a purpose clause. Whether the site sits in any declared security area or under municipal shoreline rules. The fiduciary's real annual fee.

3. Bali: what is the longest title a holder can have?

Solid No foreign-linked holder can hold Hak Milik (freehold). A foreign-owned Indonesian company (PT PMA) holds HGB: 30 years, extendable 20, renewable 30, none of it automatic, 80 in total on state land; on privately owned land HGB is 30 years with renewal only by agreement with the owner (PP 18/2021 art 37). A PT PMA can mortgage its HGB (UU 4/1996 art 4). A yayasan may hold Hak Milik only if the Minister designates it as a religious or social body for that land; otherwise it holds Hak Pakai or HGB (PP 38/1963). A nominee holding freehold for a foreigner is void, the land goes to the State and the money is not recoverable (UUPA art 26; Nelwan Law, Jul 2026). Long leases are contractual, no statutory cap, market practice 25 to 30 years with extensions.

Choices - A. PT PMA holds HGB and operates. One entity, one title. must must: the "held for ever" promise is replaced by "renewed on schedule"; the renewal duty is written into the operator's own rules. Owns: the PT PMA, for a term. Stewards: the network agreement above it. - B. Yayasan holds Hak Pakai or HGB, PT PMA operates under a lease from it. Two entities, the same term limits, but the holder is a foundation. must must: Ministry designation if freehold is wanted (unlikely). optional optional. - C. Long lease from an Indonesian freeholder. Cheapest, no title, ends when the lease ends. optional optional for a first small site.

Dead ends Perpetual title in any foreign-linked hands. Any arrangement where an Indonesian person "holds it for" the project.

Open Whether a yayasan founded by foreigners could ever be designated.

4. Costa Rica: titled or Maritime Zone, and can the stewardship holder carry a mortgage?

Solid The Maritime Zone is the first 200 m from high tide: 50 m public, 150 m concession only, and concessions go to Costa Ricans or companies at least half Costa Rican owned, for 5 to 20 years, not pledgeable without municipal consent (Ley 6043 arts 10, 45, 47, 48). Properly titled land outside that strip may be held 100% by a foreign-owned SRL or a foreigner. An asociación may acquire any property and contract freely; the statute is silent on mortgages, so its bylaws decide (Ley 218 art 26). A fundación's board carries one seat named by the Executive and one by the municipality, and only a judge can dissolve it (Ley 5338 arts 11, 17). A fideicomiso is a separate estate; its land cannot be mortgaged unless the deed says so; a trust with a legal-person beneficiary is capped at 30 years, except for nonprofits with charitable, scientific, cultural or artistic purposes (Código de Comercio arts 634, 652, 661).

Choices - A. Asociación holds titled land, SRL operates under a ground lease. must must: bylaws authorise a mortgage and say who approves it; assembly rules written so control cannot be bought. Owns: the asociación. Stewards: its assembly. - B. Fideicomiso holds title with the asociación as beneficiary. Adds a licensed fiduciary and a creditor shield. must must: the deed authorises the construction mortgage; the beneficiary is a nonprofit with a qualifying purpose or the trust ends at 30 years. optional optional layer. - C. Fundación holds the land. must drags in the two appointed board seats. optional optional, and the reason it is not the default.

Dead ends A concession parcel in the 150 m strip held by a foreign-majority entity. A trust for the residency purpose alone, beyond 30 years.

Open Whether the eventual parcel is titled or in the strip (a title study answers it in days once a parcel is named). Whether a lender lends to an asociación. Whether SHUR's purpose counts as charitable for the trust exception.

5. United States, Spicewood, Texas: who holds the land, and how does the county see the site?

Solid A Texas nonprofit corporation needs at least three directors (BOC 22.204); federal 501(c)(3) status is a separate application. A Wyoming purpose trust may exist without beneficiaries, is enforced by a named protector, and can be perpetual (Wyo. Stat. 4-10-410); nothing in it bars holding Texas land, though Texas law governs the land.An NTEE code is a statistical label with no legal effect, changed by letter (LegalForGood); a new activity within the stated exempt purposes is reported on the Form 990, not re-applied for (IRS Pub 557). County platting is triggered by dividing a tract, not by building on it (LGC 232.001); Travis County still requires a development permit built to subdivision standards, a plat waiver from Commissioners Court, engineered plans and an environmental inventory for a multi-home site on one parcel (Travis TNR). Wells: the Travis side of Spicewood is in the Southwestern Travis County district, the Burnet side in Central Texas GCD, both registering wells (SWTCGCD; CTGCD). Septic: over 5,000 gallons a day on one property is no longer on-site septic and needs a state wastewater permit (30 TAC 285.3); sixteen homes sit right at that line.

Choices, who holds - A. New Texas nonprofit, 501(c)(3) applied for, holds the land. must must: three directors; a purpose clause written for this; placements go to the operator, not to it. Owns: the nonprofit. Stewards: its board. - B. Wyoming perpetual purpose trust holds the land. must must: a Wyoming trustee or situs, a named protector, a purpose clause; Texas recording in the trustee's name. Perpetual by statute. optional optional; the newest shape and the least familiar to a Texas lender. - C. An existing nonprofit (Green Earth Vision) holds the land only, nothing else. must must: the activity fits its stated purposes, reported on its annual return; the operating money and placements sit with the operating entity. optional optional.

Choices, the site One parcel, one owner, sixteen homes: no plat by statute, but a Travis development permit at subdivision standard. must must: engineered water and septic; keep cumulative flow under 5,000 gallons a day or take the state permit. optional optional: keeping total dwellings such that septic stays under the line.

Dead ends Selling or contracting any home separately later without a plat.

Open Which county (Travis or Burnet) the parcel falls in; Burnet's rules were not reachable online. Which holder the lender will lend to. Whether the operating entity is an LLC or a second nonprofit.

6. The network: a reciprocal agreement between four operators, or something above them?

Solid Nothing in any of the four countries requires a common owner for a cross-border stay arrangement; a contract between four companies is an ordinary commercial agreement. No country has a bespoke regime for it.

Choices - A. One reciprocal residency agreement signed by the four operators. Each honours a Spot placed by any other, hosts on the same terms, settles in credits and stays. must must: one governing law and one dispute forum chosen; each country's counsel confirms it binds locally; the credits never convert to cash (see 1). No owner above. Stewards: the four, jointly. - B. A network purpose entity above the four, holding the agreement and the brand, owning no land and no placements. must must: a home jurisdiction and its own governance. optional optional, and the question that follows the first centre. - C. The founding nonprofit stays as sponsor. Interim only, holds no one's money. optional optional bridge.

Dead ends A company above the four that holds the land or the placements (it would re-create the single owner every country's shape avoids).

Open Governing law and forum. Whether a Spot placed in one country and used in another has tax or consumer consequences in the second.

What goes together (the cross-country pieces)

• must In every country: a land holder, an operator, a ground lease between them, a mortgage authority written into the holder's founding document, and two named signers on operating accounts.
• must "Held for ever" is available outright only in Texas (nonprofit or perpetual trust) and in Costa Rica (asociación). In Ecuador and Costa Rica a trust holds for ever only with a qualifying nonprofit purpose. In Bali nothing foreign-linked holds for ever; the promise becomes "renewed on schedule".
• must Placement money goes to the operating entity in each country, never to a land holder.
• optional Trust layers (Ecuador, Costa Rica) add a creditor shield and a licensed fiduciary at a permanent fee; they can be added later where the holder is a nonprofit.
• optional Timeshare or membership registration in a US state, only if the securities answer wants it.

Written 2026-09-20 by the legal lane of Synergy Hub Universal Residencies. Statutes change; every SOLID line is a starting point for a conversation with counsel, not a substitute for one. Nothing on this page is decided, and nothing on it is legal advice.