Investing in Bahamas Property can be a great way to diversify your portfolio and benefit from an investor-friendly tax regime. The country also offers world-class shopping, dining, and spa facilities, and some of the most luxurious homes in the Caribbean. Considering all these benefits, it is not surprising that wealthy investors are flocking to this beautiful island nation.
The real estate market in Bahamas is highly developed and transparent. In order to purchase Bahamas property, you need to register it with the Registrar General’s office. During the process, an attorney will check the property title to ensure that the documents are correct. Any missing abstracts will reduce the marketability of the property. In addition, the vendor must ensure that the history of the property is correct.
When purchasing a property in the Bahamas, you should take into account all the expenses that are involved. The transactional cost of a Bahamas property can range from about 15%-20% of the net price, which includes government stamp tax on the conveyance, legal fees, recording fees, and real estate agent commission. harbour island bahamas real estate In addition, the government of Bahamas has imposed Value Added Tax (VAT) of 7.5 percent on all transactions.
Residential property in the Bahamas is traditionally built in colonial style with accents of island style. Typical features include high-pitched wood shingle roofs and dormer windows. In addition to this, upper levels traditionally have wooden covered verandahs, French doors, and double-hung windows. However, many newer constructions do not include covered verandahs and double-hung windows, and are instead designed with modern features.
The Bahamas property market is relatively cheap, and it’s easy to find a good investment opportunity. The country’s stable economy, low crime rate, and easy international accessibility make it an attractive investment opportunity. The Bahamas’ flexible immigration policy is another major benefit that makes investing in real estate in this country a lucrative option.
The Bahamas government is very welcoming to non-Bahamians. They have created several policy documents designed to facilitate the purchase of Bahamian property. One such document, the International Land Holdings Act 1993, aims to simplify the process of purchasing property in The Bahamas by non-nationals. Before purchasing, however, non-nationals must register with the Investments Board or Central Bank of The Bahamas, which can cost up to $100.
The Bahamas Property Fund’s director, Larry Roberts, has a long track record in the real estate industry. He’s a former president of The Bahamas Real Estate Association and a member of the Society of Industrial and Office Realtors. He’s a licensed broker, and specializes in negotiating sales and leasing of commercial properties.
The Bahamas is known as a tax-free island, and its government and residents continue to offer incentives to foreign investors. The islands are considered to be a great place to invest, with 310 days of sunshine annually and a thriving expat population.