The Bahamas is an amazing archipelago of islands in the Caribbean, with a tax regime that is investor-friendly and a world-class shopping and spa scene. The Bahamas property market has a diverse mix of properties, including some of the Caribbean’s most luxurious properties. Whether you are looking to buy a luxury villa or a simple vacation home, there is a property to suit your needs in the Bahamas.
The Bahamas property market is thriving, thanks to the recent change in real estate ownership laws, and has many attractive opportunities for both short and long-term growth. It also boasts strong rental yields. Traditionally reserved for the wealthy, the Bahamas has become much more affordable with a broad range of financing and development projects.
The Bahamas is also a safe and secure place to purchase property. Foreign buyers generally come from the United States, Canada, France, Britain, and Italy. Foreigners who own property in the Bahamas qualify for a homeowner’s residence card, which allows them to work and reside in the country. However, if you are planning on building a new property, the Government requires you to obtain a permit before you can start development.
In the Bahamas, you can find luxury homes and condos in beautiful communities. Some of the most exclusive communities are located on the beachfront. Ocean Club Estates, for instance, offers residents a world-class golf course and luxurious, meticulously manicured surroundings. Ocean Club Estates’ 88 luxury condominiums are located on the water’s edge and provide spectacular views of the golf course, marina, and the harbour.
The Bahamas is an excellent place to buy a property, as it is tax-free and the government provides incentives for foreign investors and entrepreneurs. With a long coastline and 310 days of sunshine each year, the Bahamas is an idyllic location for investment or vacationing. This has led to a thriving expat community.
The Bahamas Property market is home to some of the world’s finest real estate. The country’s thriving capital city, Nassau, is a hub for tourism and attracts a diverse mix of nationalities than many other Caribbean nations. The country also boasts a low crime rate and a relaxed immigration policy. With ocean club estates bahamas and tax policies, investing in real estate in the Bahamas is an excellent option for US investors.
Taxes on Bahamas property vary by type and value. A property that is owner-occupied and valued at less than $250,000 is tax-exempt. Those selling their property must pay a real estate agent’s fee and attorney’s fees. There is also a Value Added Tax (VAT) on legal fees and commissions.
One of the most popular islands to buy property in the Bahamas is the Abacos, a chain of islands spanning more than 650 square miles. A number of celebrities have bought properties here including Johnny Depp, who filmed Pirates of the Caribbean on the islands. Another popular destination is the Marsh Harbour, a lively town with a waterfront area. Faith Hill purchased a seventeen-acre island in 2006 and Tyler Perry bought a 20-acre beachfront property on White Bay Cay for US$6.4 million. In 2009, Prince Aga Khan IV spent up to US$100 million to purchase the 349-acre Bell Island. And, in 2011, Shakira purchased Bonds Cay for US$16 million.