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Investing in Bahamas Property

Investing in Bahamas Property offers many advantages, including the tax benefits and investor-friendly environment. In addition, this nation boasts some of the world’s most beautiful homes. And the country has world-class shopping, golf, and spas. So what’s not to love? Listed below are some of the main reasons why buying property in The Bahamas is an excellent idea. You’ll be glad you did! So, start thinking about it.

The Bahamas is a tax-free jurisdiction, with no capital gains or income tax. The capital is located on the island of New Providence, which also serves as the country’s largest city, Nassau. Other islands include Eleuthera, Bimins, and the ‘Out Islands’. The Bahamas is only 2.5 hours’ flight from New York, and the country has a stable economy.

Foreign investors can purchase undeveloped land and condominiums in The Bahamas. However, they must first apply for a permit from the Government. The permit is granted on the basis of the investor’s assurance that the property will be developed. For larger projects, investors need to apply to the Bahamas Investment Authority, which is part of the Office of the Prime Minister. The BID requires a project proposal, financial projections, and information about projected employment needs.

The Bahamas Property Fund is a real estate investment trust (REIT). The fund owns three commercial properties in The Bahamas: the Bahamas Financial Centre, One Marina Drive, and Providence House. Its shares trade on the Bahamas International Securities Exchange under the symbol “BPF”. The fund’s properties are rented out to a wide range of tenants from different industries. Royal Fidelity Bank & Trust, the fund’s investment manager, manages the properties. Its assets under management and administration exceed $700 million.

The Bahamas is an excellent destination for investing in property because of the relatively stable tax regime, modern infrastructure, and high property values. In addition to the tax advantages, buying property in The Bahamas is also a good option for families. Renting out property is a profitable option for many buyers. lyford cay bahamas rentals Moreover, rental yields are generally good and the cost of living is relatively inexpensive.

If you’re considering investing in property in The Bahamas, remember that you’ll have to apply for a Home Owner’s Residence Card. This card allows you to live and work in the Bahamas, and is issued on an annual basis. It’s also important to remember that permanent residency is tax-favored, so it’s worth investing in.

There are no sales or income taxes in the Bahamas, but there are still some fees you should know. The average transactional cost of buying real estate is about 15%-20 percent of the net price, which includes legal fees, recording fees, and real estate agent commission. Customs duties are another way the Bahamas government generates revenue. The average duty rate is 35 percent, with Value Added Tax added on top of this.

The Bahamas has a diverse landscape that’s ideal for real estate investments. It is home to beautiful beaches and stunning natural wonders. Plus, you can enjoy a laid-back, friendly lifestyle with the locals. The country’s economy is also steady, with its primary industry being tourism.

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