There are several benefits to investing in Bahamas real estate. First, the country’s investment tax regime is very investor-friendly. Next, you’ll enjoy world-class golf, shopping, spas, and luxury homes. And, of course, the people are friendly and helpful. You’ll find real estate in The bahamas real estate Bahamas that will fit any budget. Even if you have limited financial resources, buying and selling property in The Bahamas is very easy.
Second, if you’re looking to invest in a piece of island property, you’ll find that the island is rich in celebrities. Among them are Nicolas Cage, Maria Carey, Sean Connery, Michael Jordan, and Tiger Woods. Lightbourn Realty also has offices in Key West, Exuma, Long Island, and Nassau. It’s a great choice for investors, but make sure to use a reputable brokerage.
In addition, you should check property’s status with the Bahamas government. If it’s owned by someone else, you can find out whether the property is currently assessed for taxes and who paid it last. This can give you a better idea of the property’s value and whether or not it’s worth investing in. If not, you may want to consider purchasing the property in a company. If it’s for a commercial project, you can avoid the hassle of paying the taxes by investing in real estate.
As for residency, non-Bahamians can purchase residential properties of 5 acres or less. For purchases over five acres, however, you’ll need a permit from the government. These permits are issued after you have satisfied the government with your assurance that the property will be developed. The Bahamas Investment Authority is responsible for overseeing the licensing process for big projects. To acquire a permit, you’ll need a project proposal, financial projections, and projected employment needs.
If you’re looking for a high-end luxury home, MCR is the ideal choice. The team’s diverse expertise covers all aspects of real estate, from entity establishments to real estate sales and acquisitions. MCR has a multi-lingual staff with associates in New Providence, Abaco, Harbour Island – Eleuthera, and Beijing. MCR was one of the first local real estate firms to sell condo units at the famous Baha Mar. And they continue to service luxury communities such as Lyford Cay and Paradise Island.
For non-Bahamians, the government encourages them to use their home financial institutions in order to secure a loan. However, if they are unable to, they can use the hundreds of international banks in The Bahamas to facilitate interbank transfers. Since they are not a native of the country, work permits for business-related purposes will be required. Moreover, investors will need to save their bank documents for application and due diligence.