Tax benefits
Not only is the Bahamas a tax haven and
offshore banking centre, there is no taxes
on income, no VAT, no inheritance tax and
there is no capital gains tax on real estate.
There is no property tax on resort
properties as long as personal use isn’t
over 90 days and there’s only a 1% annual
property tax applicable over the value of
£250,000 properties.
Foreigners who own properties in the
Bahamas are eligible for a homeowner’s
residence card (renewable annually) and
those who purchase properties valued
at least US$500,000 are given priority in
permanent residence applications.
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According to Crystal Investment and Real
Estate, sales volumes are picking up as
a result of “The Bahamas’ tax situation”
as it is very attractive to foreigners, many
of whom choose to become residents,”
they say.
Investment
opportunities:
Currently, ocean front units in the Royal
Ocean Club, situated on Grand Bahama,
are priced at US$156,070.
In the Bahamas Rum Cay, the price of one
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and two-bedroom beach cottages start at
US$128,095.
In the Lyford Cay, a private gated
community on the New Providence,
a six bedroom colonial-style home,
in Cuckoo’s Nest, is priced at
US$6.5 million.
Investors are
also attracted to
the stability of
the economy.