The Bahamas is a gorgeous archipelago made up of hundreds of islands. With an investor-friendly tax regime, world-class golf courses, spas, and shopping, Bahamas real estate is among the most desirable in the Caribbean. It also boasts some of the most luxurious homes in the region. To learn more about Bahamas real estate, contact the Bahamas Property Group.
The Bahamas welcomes non-Bahamians to invest in property and has introduced a number of policy documents that facilitate this. For example, the International Land Holdings Act 1993 aims to make purchasing property in The Bahamas easier for non-nationals. Non-nationals must register with the Investments Board and the Central Bank and pay a registration fee of about $25 – $100.
The Bahamas is an international financial centre with a stable and democratic government. It has one of the lowest taxes in the world and is a popular choice for business executives and investors. The island nation also has an excellent reputation and a thriving expat community. As an international financial centre, the Bahamas is positioned to flourish in a wide range of sectors.
Real estate taxes in the Bahamas are low and the process is transparent and secure. The Department of Inland Revenue has the right to reassess and appraise the property, so a property owner must make sure they pay their property taxes on time. These taxes may be paid in Bahamian currency or in US dollars. Failure to pay taxes on time will result in a penalty of five percent of the assessed value.
albany bahamas for sale Despite the recent recession, the Bahamas continues to be a safe investment location. With low crime rates, attractive tax policies, and flexible immigration policies, the Bahamas is an attractive place for investors. Real estate prices are set to rise, fueled by a thriving tourism sector. With tourism numbers increasing every year, the Bahamas is on an upward trajectory and expected to grow significantly.
The price of residential properties in the Bahamas have fallen substantially since the global financial crisis hit the country. Some areas have even experienced declines of as much as sixty percent. Local agents report that prices dropped by as much as 30% or 40% between 2007 and 2010, but have stabilized since Hurricane Dorian hit the country. If you are looking for an affordable waterfront property in the Bahamas, you can check out waterfront properties for sale in any of the islands. These waterfront properties will offer you a slice of paradise.
The Bahamas government also charges a value added tax of up to 7.5 percent on the value of the property. This tax is payable by both the buyer and the seller and is based on the value of the property. It’s important to hire a licensed real estate agent who can help you with your purchase. The Bahamas Real Estate Association has set fees for realtors. These fees are usually divided equally between the buyer and seller.