There are many reasons why you might consider investing in Bahamas real estate. For starters, the Bahamas is a premier tourist and business centre. This means that the government promotes an atmosphere that is both friendly to foreign bahamas real estate investors and business people. In order to encourage investment, the government emphasizes financial services and tourism. The Bahamas government’s real estate policy is geared towards steady growth. In October 2002, the government established a ministry of financial services. This ministry announced its intention to streamline property purchase procedures.
The Bahamas is an archipelago of hundreds of islands that offer stunning landscapes and breathtaking scenery. In addition to a tax regime that is friendly for investors, the Bahamas is home to some of the most luxurious homes in the Caribbean. In addition to its stunning natural landscape, the Bahamas has world-class shopping, golf courses, spas, and luxurious homes. No wonder it is a popular choice for foreign investors. To find the best properties in the Bahamas, visit the Bahamas Property Portal.
Foreign investors are welcomed in the Bahamas. In fact, the country has several policy documents to encourage foreign investment. One of them, the International Land Holdings Act 1993, was drafted to make the process easier for non-Bahamians to purchase Bahamian real estate. Among the requirements for buying real estate in the Bahamas is registering with the Investments Board and the Central Bank. Registration will cost anywhere from $25 to $100.
Bahamian land law uses ancient language and forms to govern real estate. An attorney will draft a conveyance and have the buyer sign it. Once the buyer has signed the document, the attorney will stamp it and record any necessary documents. The government collects stamp duty on real estate sales. This fee is a significant source of income for the Bahamas government. Generally, foreign buyers purchase properties in cash and do not take mortgage loans. In addition to this, they often purchase property as part of a company.
The government encourages investment in the Bahamas by offering attractive incentives. For example, foreign investors may qualify for a permanent residency visa if they invest a total of US$1.5 million in a residential property. In addition, investors who purchase a home worth more than US$1.5 million may receive accelerated consideration. The Bahamas Investment Authority supports non-Bahamian investment. However, in order to purchase property in the Bahamas, a business may have to apply for a work permit for each employee of the business. Also, they can register their ship for services.
The Lightbourn Realty network has offices in Elbow Cay, Cherokee Sound, Man-o-War Cay, Treasure Island, and Exuma. These agents can assist you in buying or selling Bahamas real estate. You may also want to talk to a realtor who specializes in Bahamas real estate. The ERA Dupuch Real Estate team can help you get the best price on the Bahamas. They have agents who can help you with any questions you may have.