As a non-Bahamian citizen, you will have to obtain a permit to buy real estate if you intend to sell it or lease it. If you buy property of more than two acres or are intending to develop it for commercial purposes, you will also need to register it. To do this, you can consult a real estate lawyer. You will also need to register your investment with the Foreign Investment Board or the Exchange Control office of the Central Bank of The Bahamas. This will allow you to take out the net proceeds of the sale in the currency of your original investment.
The Bahamas MLS is an effective tool to find a property for sale. It has listings from participating brokers. You can find homes in various price ranges and locations. There are properties for sale with wrap around verandahs, pool and ocean views and even buildings with elevations of up to 190 feet. This is an excellent choice for an investment or a vacation property.
In the Northern Bahamas region, the Abaco Islands are a popular destination for tourists. These 120-mile-long islands are home to a thriving downtown area. There are also mainland cities such as Marsh Harbour, which offer great recreational opportunities. Treasure Cay is a popular island with beautiful beaches, and Elbow Cay is home to some interesting colonial architecture.
The Bahamas Property Fund’s board of directors includes Larry Roberts, a veteran of the real estate industry. He has more than 50 years of experience. He is a licensed broker and a member of the Society of Industrial & Office Realtors. He recently retired from NAI Bahamas Realty Commercial, where he specialized in negotiating the sales and leases of commercial properties.
The Commonwealth of The Bahamas is an independent sovereign nation that is home to a diverse population of nationalities. The tax-free status, pristine beaches, and friendly government make it a popular location for investment and residency. Bahamas Property is well-positioned to benefit from the booming economy and attractive tax system. It is also home to a thriving expat community.
Foreign homebuyers usually come from the United States, Canada, France, Britain, and Italy. Foreigners who purchase property in The Bahamas can apply for permanent residency or a homeowner’s residence card. However, this does not mean they can work in the country. Therefore, it is important to remember that you must obtain a permit before you invest.
In addition to the tax, you will also have to pay the Bahamas Stamp Duty tax. This tax is usually around 2.5 percent, but there are exemptions available for first-time buyers. You can also claim VAT on commercial land and residential property if you are a VAT registrant. You will also need to pay the real estate agent’s fees and legal fees for the transaction.
albany bahamas for sale The Bahamas is one of the premier investment destinations in the world. Its government promotes an investor-friendly environment that encourages real estate investment. Government policy focuses on developing both tourist and financial services. This policy aims to achieve consistent growth in the real estate sector. In October 2002, the Bahamas’ minister of financial services announced plans to streamline the process of purchasing real estate.