Benefits of Investing in Bahamas Real Estate

 

The Bahamas is a stunning archipelago of hundreds of beautiful islands. It has an investor-friendly tax regime, world-class shopping, spas, and golf courses, and some of the most beautiful homes in the Caribbean. With real estate prices well below market value, the Bahamas is a great place to purchase a home. Here, you can find luxury homes for sale and rent as well as waterfront properties and private islands. For more information, visit Bahamasrealestate.com or Bahamas Property Group.

Before buying or selling a piece of Bahamas real estate, be sure to check government records. You should contact the Bahamas government to find out who owns the property, what taxes are owed, and when the last tax payment was made. In cases when the buyer is not present, an attorney will complete the declaration of real property. Once the buyer accepts the purchase, the lawyer will file the closing documents and remit taxes. This will reduce any legal fees you incur.

When investing in real estate, make sure you know the tax rate in your country. Most foreign countries charge higher taxes than the Bahamas. However, you can also buy property tax-free, which will further lower your expenses. This is a big advantage when investing in Bahamas real estate. If you plan on living in the country for a long time, you should research the tax rates in your country. The  bahamas real estate Bahamas has a stable economy and a high-growth tourism industry.

The Exumas Islands are another popular destination for property purchases. This region has over 700 islands. Hollywood celebrities like Johnny Depp and David Copperfield have bought several islands for US$50 million. Faith Hill and Tyler Perry have also bought Bahamas real estate. In 2006, Faith Hill purchased a 17-acre Goat Cay for US$6.4 million. Prince Aga Khan IV spent US$100 million on a 349-acre island in Bell. Shakira and Michael Jordan have both bought properties on Bonds Cay.

In addition to the International Persons Landholding Act, the Bahamas welcomes foreign investment. This legislation, passed on 1 January 1994, makes it easier for non-Bahamians to buy Bahamian property. To purchase real estate in the Bahamas, you must register your investment with the Investments Board. Registrating costs vary between $25 and $100. There are other benefits to investing in Bahamas real estate. The Bahamas will welcome you, so get started!

The government raised its permanent residency threshold to US$750,000 in order to attract ultra-high-net-worth individuals. Property purchases made by international investors receive accelerated consideration. Once approved, the property becomes a permanent resident with all rights and privileges, except for voting rights. The Bahamas government has a number of policies to protect property investments. In March 2020, the Bahamas government closed the international tourist trade borders to prevent the spread of the coronavirus. In Q1 2020, visitor arrivals fell 14.7% y-o-y (y-o-y) and air travel dropped by 10.5%. And with the risk of the outbreak spreading, tourism is expected to fall even more in Q2 2020.

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