The Bahamas is a stunning archipelago of hundreds of islands. It offers a business-friendly tax system, world-class golf and shopping, and some of the most luxurious homes in the Caribbean. With its low-tax system and tax-free status, investing in Bahamas property is a great idea.
In addition to prime real estate, the Bahamas offers a variety of other benefits for foreign investors. The Bahamas is an easy flight from Miami and three and a half hours from New York City. It boasts a warm, tropical climate and gorgeous beaches. harbour island real estate The country is also an English-speaking country, so investors can communicate easily.
For an amazing waterfront property, consider purchasing a Direct Sandy Beachfront Home. The property features a private beach, swimming pool, and boat dock. The property is located on the prestigious East Bay Street and boasts panoramic views of the harbor and its pristine beaches. The property features three stories and 5,000 square feet of luxurious interior space. The property includes a recreation room and an open kitchen.
If you’re an investor and have a stable source of income, a permanent residence permit can help you save on taxes and fees. The government of the Bahamas offers residency visas for foreigners who invest in Bahamas real estate. It can also help those who own a home in the country. The Bahamas government has laid out guidelines for establishing residency for foreigners. The government offers two types of residency: permanent residency and annual residence permit. The former allows the owner and his/her family to live and work in the Bahamas for a specified period.
The Bahamas is a fantastic investment destination. The country is tax-friendly, and the real estate market is growing. The tourism industry is the engine of the Bahamas’ economy. Its government invests heavily in the sector, which contributes to the success of the real estate market. The country also has a stable and low crime rate. Foreigners can enjoy a high rental income in their homes.
The transactional cost of buying real estate in the Bahamas is approximately 15 to 20 percent of the net price. The transaction costs include government stamp duty, legal fees, and real estate agent commissions. While changes in government have led to some instability, the country’s government is relatively stable. Value added tax is 7.5 percent.
The traditional architecture of the Bahamas is colonial with island accents. Most residential properties feature dormer windows and high-pitched wood shingle roofs. They also typically have double-hung or French doors. Some homes feature modern touches such as secure gated communities. Some properties are designed to appeal to expatriates who want to be completely secluded.
As a licensed broker, Larry Roberts has been involved in the Bahamas real estate industry for more than 50 years. He is a past-president of The Bahamas Real Estate Association and a member of the Society of Industrial & Office Realtors. Recently, he retired from his role as the CEO and Managing Broker of NAI Bahamas Realty Commercial. He is an expert in negotiating sales and leasing of commercial properties.