The Bahamas offers a host of benefits to foreign investors, including tax-free investment and no capital gains tax. Foreign investors can even repatriate all the proceeds when selling their property. However, foreigners must register their purchase with the Central Bank to take advantage of the tax advantages. In addition, many major international banks maintain a significant presence in The Bahamas and offer US$ and BSD$ mortgages.
Buying and selling luxury properties in The Bahamas can be challenging, but with the assistance of a real estate agent, you can increase your chances of a successful sale. The Bahamas offers a spectacular archipelago of hundreds of islands and an investor-friendly tax regime. The island country also has world-class shopping, golf, spas, and some of the most luxurious homes in the Caribbean.
While many luxury real estate properties in The Bahamas have the luxury feel of expensive resorts, the real estate market has changed. While once-rich retirees were the primary buyers, they are now being replaced by young tech millionaires and millennials. Buying luxury property in The Bahamas is no longer just for retirees.
Foreign homebuyers typically come from the United States, Canada, France, Britain, and Italy. A typical property can cost upwards of $1 million. Foreign property buyers can enjoy the relaxed Bahamian lifestyle and safe investment climate. Foreigners can buy property in The Bahamas as long as they register their purchase with the Foreign Investment Board.
The Bahamas Property Fund’s board of directors includes Larry Roberts, a veteran of the real estate industry for over 50 years. A former president of The Bahamas Real Estate Association, he is a member of the Society of Industrial & Office Realtors and has a background in leasing and selling commercial properties. The fund’s investments are managed by Royal Fidelity Bank and Trust.
Real property taxes in The Bahamas are based on the value of a property. However, some types of real property are exempt from taxation. Foreigners who purchase undeveloped land or empty land in The Bahamas are required to pay real property taxes. Vacant land and Family Islands are not taxed. Non-residents, however, are required to pay real estate taxes in The Bahamas.
If you are looking for a property in the Bahamas, the Abaco Islands are a great choice. These 120-mile-long islands are popular with vacationers and investors. Some ocean front units in The Royal Ocean Club cost as much as US$150,000. In addition, the Bahamas government offers tax breaks to foreign investors.
The Bahamas has an investment-friendly tax policy and has a booming tourism industry. The country is an attractive destination for foreigners due to its low crime rate and international accessibility. Buying property in the Bahamas can provide long-term capital appreciation and strong rental yields. lyford cay bahamas rentals