The Bahamas is an archipelago of hundreds of islands and boasts a tax regime that is favourable to investors. The island nation is home to world-class golf courses, shopping malls, spas, and luxurious homes. You can own a piece of this tropical paradise. To buy a property in the Bahamas, you need to invest between US$500k and US$1.5 million.
Most foreign homebuyers are from the United States, Canada, France, Britain, and Italy. However, it is important to know that in order to purchase property in the Bahamas, you must obtain a permit from the Government. A permit will be required if you wish to develop more than five acres (20232 sq. meters). You can also get detailed information about the international property market by visiting the Global Property Guide.
The capital city of the Bahamas, Nassau, is situated on the 21-mile-long New Providence Island. This island is linked to the neighboring Paradise Island by a bridge. Luxury homes in the Bahamas can cost up to US$14 million. On the eastern tip of Paradise Island, there is the Ocean Club Estates, a full-service development. Waterfront properties in this development can go up to US$14 million.
As the tourist industry continues to grow, the Bahamas is an attractive place for property investment. The country is known for its stable economy and investment-friendly environment. The government has invested heavily in the tourism industry, which in turn drives the real estate industry. While the economy is still recovering from the recent downturn, both the real estate and tourism sectors are showing signs of growth. The World Travel and Tourism Council (WTTC) has predicted that the Bahamas will grow by over 3% annually until 2024.
harbour island bahamas real estate Taxes on real estate in the Bahamas are relatively low. There are no income taxes, inheritance taxes, or capital gains taxes. However, you will have to pay Value Added Tax (VAT) on any property you buy. The average VAT rate in the Bahamas is around 15% to 20% above the net price of the property. In addition, you will have to pay legal fees and real estate agent commissions.
The Bahamas government has implemented guidelines for non-Bahamians to obtain residency. The first step in acquiring residency in the Bahamas is obtaining a Home Owner’s Residence Card. This card enables the owner and their spouse and minor children to live in the Bahamas. It is the easiest way to become a resident in the country.
The Bahamas has a wide range of properties for sale. A luxury home on an island can cost up to US$1 million. Luxury properties can be found anywhere from a single bedroom to a five-bedroom villa. If you’re looking for a secluded paradise, a luxury home in The Bahamas is the way to go.