If you’ve ever dreamed of owning a beachfront property in the Bahamas, you’ve probably seen advertisements for luxury real estate. But before you make your next move, you should know the facts. The country has a relatively low cost of living. And the cost of buying a piece of real estate in The Bahamas is less than $400 round-trip. That’s a great deal of savings, especially when you consider that the Bahamas are only 3.5 hours away by plane.
The Bahamas is an archipelago made up of hundreds of islands. It’s an investor-friendly jurisdiction, boasting a world-class golf course and shopping mall. Aside from being an incredible destination, it’s also home to some of the most luxurious homes in the Caribbean. You won’t find anything better than these properties, with views of the water and lush foliage. You’ll have the freedom to customize your dream property to fit your needs and lifestyle.
Getting a piece of Bahamian real estate in The Bahamas requires coordination between several government departments. A non-Bahamian must apply to the Bahamas Investment Authority (BIA), an administrative arm of the National Economic Council, which is directly under the Prime Minister. The NEC Board includes the Prime Minister and several real estate bahamas Cabinet Ministers. When buying a piece of property in The Bahamas, you need to make sure to check with the local realtor about the legal requirements.
In The Bahamas, foreigners can purchase land under the international person’s landholding law. Non-Bahamians can apply for a Certificate of Registration and Permit, depending on the size of the property and the intended use. Foreigners can also get local financing to purchase real estate in The Bahamas. However, non-Bahamians need a permit to own property over five acres (20232 square meters).
The Bahamas are an island nation that spans over two hundred islands. The islands are home to many expatriates, making them a great investment option. However, before making your move, make sure you consider the tax benefits of the country. The country’s economy is stable and there are no estate taxes, inheritance taxes, capital gains tax, or corporate income tax. You can buy a luxury home and be tax-free, all while enjoying the sun and the perfect weather year-round.
If you’re looking for a luxury beachfront property, look no further than the Abacos. The 120-mile-long chain of islands is home to a wide variety of properties, from stunning luxury houses to beachfront properties. A house in The Bahamas can range from US$300,000 to $8 million. A beachfront property can fetch US$1 million. In addition, the price includes a septic system.