Investing in Bahamas Property

Investing in Bahamas property can be a rewarding experience. The archipelago is home to hundreds of stunning islands and is a haven for world-class golf, shopping, spas, and luxury homes. The Bahamas has a favorable tax structure for investors. You can buy or rent a luxury property, or invest in a commercial property.

ocean club estates bahamas Grand Bahama is the most renowned island in the Bahamas, with luxury hotels and all the amenities you can imagine. Grand Bahama property is the most expensive, but is also the most luxurious. It is home to Nassau, the capital city of the Bahamas. Nassau is located on the 21-mile-long New Providence island and is connected to neighboring Paradise Island by a bridge. Paradise Island is also home to the full-service luxury development Ocean Club Estates, where waterfront properties start at US$14 million.

The Bahamas property market is currently undergoing a revival with investors looking for bargains. During the global financial crisis in 2007, the Caribbean property market lost nearly 30% of its value. The Bahamas property market suffered even worse, with prices plummeting by 40% between 2007 and 2010. However, the islands have seen a recent rebound, and investors are looking for opportunities to get in on the ground floor and be part of the revival.

When buying Bahamas property, foreign buyers should know that there are some tax rules. Non-Bahamian buyers, for example, must obtain a permit if they plan to rent out the property or develop it for commercial use. In addition, they must register their investment with the Foreign Investment Board (FIB), and with the Central Bank of The Bahamas (CBTB). Having a permit is also essential if you plan to take your investment abroad.

If you’re planning to invest in Bahamas property, you should consider hiring a licensed broker. There are several experienced real estate agents in the country who can guide you through the process. Some are even specialized in specific sectors. If you’re looking for a professional real estate agent, look for one that has a proven track record of success in the local market.

The Bahamas has a relatively low tax structure, and the real estate market is a mature one. This ensures that the real estate process is transparent and secure. However, it is important to make sure that the title to the property is valid. If there are any missing abstracts, the property’s marketability will suffer significantly. In addition, the vendor should make sure that the history of the property is accurate and complete.

Regardless of whether you’re buying or selling a Bahamas property, you should hire an attorney to ensure that the title documents are in order. In addition, an attorney will be able to check if any encumbrances exist on the title. A lack of abstracts or a break in the chain of title owners will diminish the marketability of the subject property.