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Lyford Cay Rentals and the Bahamas Property Group

The Bahamas is an incredible archipelago of hundreds of islands with incredible natural beauty and a welcoming tax regime for investors. It offers world-class golf, shopping, and spas and some of the most luxurious homes in the Caribbean. The Bahamas Property Group is a one-stop shop for purchasing real estate in the Bahamas. They have offices throughout the main islands of the country.

lyford cay bahamas rentals Property taxes are low in The Bahamas, and foreign buyers can own free title to their property. The Bahamas has a mature real estate market and the process is highly transparent and secure. Before selling property, buyers’ attorneys will verify the title to ensure that it is in fact free and clear. Any missing abstracts will reduce the property’s marketability, so vendors must make sure the history is accurate.

Foreign homebuyers are predominantly from the United States, Canada, France, Britain, and Italy. It is also important to note that foreigners must obtain a permit to build on undeveloped land of more than five acres. Additionally, foreigners who own property in The Bahamas qualify for a homeowner’s residence card and permanent residency. However, an annual residence card does not give them the right to work or own businesses.

The Bahamas is an amazing place for investors to invest in. The island boasts natural wonders and a relaxed lifestyle. Not to mention, the locals are friendly and welcoming. The country’s economy is stable and growing, with tourism as the main source of income. And with an English-speaking population, buying a property in The Bahamas is a great idea.

After the global financial crisis, demand for residential property fell in The Bahamas. According to the Engel & Volkers 2019 Real Estate Market Report, the country had twenty percent fewer residential sales in 2019. However, the government closed the borders to international tourists in March 2020 to prevent the spread of the coronavirus, which caused the number of domestic visitors to fall by 28% and sea travellers to decrease by 10.5%. Since then, the housing market has stabilized.

The Bahamas tax system is very attractive for real estate investors. There is no income tax, inheritance tax, or capital gains tax. It also has a relatively low transaction cost, which is beneficial for wealthy real estate investors. The Bahamas also has a low cost of living. A tax-free environment attracts wealthy real estate investors.

The Bahamas is one of the richest and most livable countries in the Caribbean. Its government offers attractive incentives to foreign businesses. The climate is pleasant all year-round, and there is no risk of hurricanes. It also boasts a large expat population. Those benefits make Bahamas Real Estate a top choice for investors.

The transaction cost of buying a Bahamas property is about 15 percent to twenty percent of the net price. This cost includes the government stamp on the conveyance, legal fees, and real estate agent commission. As with any real estate purchase, you’ll also need to pay Value Added Tax (VAT) on any commissions or legal fees. The government also earns revenue from customs duties. The average duty rate is 35 percent.

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