• Home
  • Buying Lyford Cay Real Estate in the Bahamas

Buying Lyford Cay Real Estate in the Bahamas

The Bahamas is an archipelago of hundreds of islands, boasting a pristine climate, a tax regime that favors investors, and some of the world’s finest golf courses, shopping centers, spas, and luxury homes. However, before investing in Bahamas Property, it’s vital to know the basics of buying real estate.

The Bahamas Property Fund is led by Larry Roberts, a real estate executive with over 50 years of experience. He is a licensed broker and past president of The Bahamas Real Estate Association and the Society of Industrial & Office Realtors. lyford cay real estate Most recently, he retired as the CEO and Managing Broker of NAI Bahamas Realty Commercial, a real estate firm specializing in the sales and leasing of commercial properties.

Non-Bahamians can purchase residential property as long as the property is less than five acres. Larger projects, however, require prior government approval and must be backed by a detailed business plan and assurances that the development will create jobs for locals. For this reason, investors are encouraged to use services from members of the Bahamas Real Estate Association (BREA).

Once you have decided to purchase a property in the Bahamas, the next step is to register it in the government’s database. You can do this by filling out a Declaration of Real Property Form, which must be signed by the owner and witnessed by another authorized person, such as a magistrate, registered medical practitioner, bank officer, minister of religion, or notary public.

Once you’ve decided to purchase Bahamas Property, you’ll have to pay taxes and other fees. In addition to the stamp duty, there’s also a Value Added Tax (VAT) that you must pay. This is typically between 7.5 and 9.1% of the property’s value. In addition to this, you’ll need to pay a real estate agent’s fee and your legal fees.

The Bahamas property market is booming, and offers attractive investment opportunities. Property prices are low in many centers, and rental yields are strong. A favourable tax and investment policy encourages foreigners to purchase Bahamas property. Furthermore, foreigners are permitted to own free-title real estate in the Bahamas. The Bahamas is an attractive place to live, with a stable economy, low crime rate, and a flexible immigration policy.

The Bahamas offers a relaxing lifestyle with friendly locals. You can live in a luxurious villa or a modest condo on the island of your choice. The Bahamas has a thriving economy, with tourism being its main industry. If you are looking to retire to a tropical island, consider purchasing a Bahamas property.

If you own a property in the Bahamas, you can apply for a Home Owner’s Resident Card. This card entitles you to live and work in the country without the hassles of obtaining a visa. This card is renewable every year and gives you access to your property and other privileges.

Leave A Comment