Bahamas

This stunning and established archepeligo offers a high standard of living and a diverse range of property in close proximity to the USA, attracting some famous owners in addition to other foreign buyers and visitors. Many buy for holiday or second homes, or retirement.

Citizens of the USA, UK and Canada do not require visas to visit as long as they stay no longer than three weeks and have a return ticket. US citizens can stay up to eight months. Otherwise permits from the Bahamas Immigration Department are needed for longer stay and to work or do business.

Popular locations on New Providence island include; Lyford Cay, one of the oldest gated communities in Nassau, Old Fort near Lyford Cay and Port New Providence. Ocean Club Estates is a draw on Paradise Island, easily accessed over two bridges across Nassau Harbour. Eleuthera is a special island with rolling countryside and white sandy beaches, attracting the rich and famous around the cay of Harbour Island. Exuma has some well-known property owners too.

There are favourable tax benefits, including no capital gains, inheritance or income taxes, and an investment for residency scheme for the financially independent. Owners of property over £500,000 can apply for permanent residence. Fees, terms & conditions apply. You need to reside in your home for six months or more each year to keep owner-occupied status. Finance is available to foreign buyers on the islands.

Owner-occupied homes need to register to rent premises to visitors. There is a growing tourism sector with 1.78 million visitors staying one night or more in 2019.

In the Bahamas there is VAT applicable on real estate services. Allow around 10% on top of property price to cover taxes, including Stamp Duty, split between buyer and seller. There is an annual Property Tax based on property value. Foreign owner occupied residential property permits the first $250,000 tax exempt. Always check with qualified experts for most up to date details and the local estate agent can advise.

As members of the Bahamas Real Estate Association, our partners list in; Nassau, Paradise Island, Lyford Cay, Abaco, Bimini, Eleuthera, Exuma and Harbour Islands. Whether you are interested in waterfront homes, golf courses, sea views or private islands, they can help you. Please do get in touch if you would like further assistance.

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