The Bahamas Property Group provides a one-stop shopping service for those looking for real estate in the Bahamas. With years of experience in the real estate market, the Bahamas Property Group is able to provide the most relevant information to buyers. Here are some tips to make sure you get the best deal on a Bahamas property.
The Bahamas has a low property tax. The government charges 1% of the value of your property. However, if you buy an estate property that costs over $5 million, you’ll need a permit from the Government. For undeveloped land over five acres, you’ll also need a permit from the Government. Additionally, if you plan to live in the Bahamas permanently, you can apply for a homeowner’s residence card. The homeowner’s residence card grants you the right to live in the Bahamas, but it does not allow you to work there.
The Bahamas has a wide variety of property types. Depending on your budget, you may want to consider renting out your property to the tourism industry. Other common strategies include investing in resorts that offer complete rental and management packages. The Bahamas has many positive aspects to offer to real estate investors, including low crime rates, international accessibility, a liberal immigration policy, and inimitable natural beauty.
Harbour Island is home to some of the most exclusive Bahamas property. This upscale neighborhood attracts buyers from around the world. A warm climate, hospitable residents, and festive traditions help make the island a haven for those with money to spend. The Bahamas Property Association is not responsible for the accuracy of the information contained in this article.
Bahamas property buyers and sellers should be aware of taxes and fees. In addition to the buyer’s legal fees, Bahamas property sellers must pay a government stamp tax on the conveyance of the property. This tax is typically 15% to 20% of the net price. Property taxes are also exempt if the property is owned by a Bahamian. harbor island bahamas real estate Additionally, property taxes may be exempt if the property is approved for a commercial farm.
The Bahamian islands offer the best waterfront properties in the Caribbean. These include trendy resorts, expansive luxury estates, and affordable condos. No matter what type of real estate you’re looking for, you’ll find it in the Bahamas. The country’s sapphire-blue waters and white-sand beaches make for a breathtaking setting for waterfront properties.
Homeowners of Bahamas property may qualify for an annual residency card. This card gives the holder the right to live and work in the Bahamas for an entire year. This card must be obtained from the Department of Immigration. During the process, you’ll be required to pay a $100 non-refundable application fee and $500 issuance fee. If you intend to remain in the country for more than one year, you’ll be required to apply for a permanent residence permit.
Ocean Club Estates – Located on Paradise Island, Ocean Club Estates feature luxury condominiums with high-end finishes and extensive amenities. The condominiums are gated and feature private beach fronts. There are also many oceanfront lots that can be used for a single family home or a hotel.