Bahamas Property & Bahamas Real Estate by Caribbean Land & Property. Search for land, or a home, house, or investment property in the Bahamas. Buy, sell or invest in real estate, or commercial property in Bahamas, with Caribbean Land & Property experienced in Bahamas Real Estate & Property.
Caribbean Land and Property
Facebook Twitter Google+ Pinterest LinkedIn Youtube Blog
Caribbean Land and Property
Caribbean Land and Property
Caribbean Land and Property Caribbean Land and Property Caribbean Land and Property
Caribbean Land and Property
Caribbean Land and Property Caribbean Land and Property
Caribbean Land and Property
Caribbean Land and Property Caribbean Land and Property SEARCH BY      


Financial Articles

Caribbean Property and Real Estate  Offshore Company
Caribbean Property and Real Estate 
Dominica Second Passport
Caribbean Property and Real Estate  Offshore Jurisdiction
Caribbean Property and Real Estate  St Kitts 2nd Passport
Caribbean Property and Real Estate  Tax Avoidance
Caribbean Property and Real Estate  Tax Haven Comparisons
Caribbean Property and Real Estate  Caribbean Mortgages
Caribbean Property and Real Estate  Economic Citizenship
Caribbean Property and Real Estate  Estate Planning
Caribbean Property and Real Estate 
Int. Business Companies
Caribbean Property and Real Estate  Offshore Tax Havens
Caribbean Property and Real Estate  Second Passport FAQ
Caribbean Property and Real Estate  Caribbean Passport


Life Styles Blog
 
 
 
 
 
|  Back |  comparisons |

Bahamas Property and Bahamas Real Estate

Bahamas Property

Bahamas Property Information



Bahamas International Persons Landholding Act
This act requires non-nationals to obtain a special permits required when purchasing property in the Bahamas, if:

a. The property being purchased is more than 5 acres
b. The intention is to rent the property or a portion of the property
c. The property being purchased is for a commercial development.

Non-Bahamians who buy land for which a permit is not required under the International Persons Landholding Act must register their purchase with the Foreign Investment Board.

Bahamas Property Purchases
Lawyers engaged to undertake the conveyancing of the property will generally hold the purchases deposit and any other payments.

Lawyers
Lawyers in the Bahamas are by the Bahamas Bar Code and are required to carry indemnity insurance.
 
Bahamas Property Title
The vast majority of property in the Bahamas is sold Freehold. The few leasehold properties are generally government owned Crown Land properties that are leased for agricultural or development purposes.

Title Insurance
Title insurance is available in the Bahamas with the premium payable usually between 0.20% and 0.27% of value. 
                                     
Bahamas Property Sales Repatriation
Non-Bahamians are able to repatriate the entire proceeds of a sale of their property including any capital gains, provided that the buyer has registered the purchase with the Exchange Control Department of the Central Bank at the time of purchase.

Bahamas Planning and Building Permission
Persons seeking to build or alter a property in the Bahamas, are required to obtain approval from the Town Planning Board and a building permit issued by the Ministry of Works.

Closing Fees
The closing fees on a property purchased in the Bahamas are approximately as follows :-

  • Title Search                                      US$250 to US$500
  • Cost of Purchase Agreement               US$150 to US$500
  • Legal Fees                                       1.5 to 2.5% of the property value

  • Stamp Duty is levied at a variable rate and based on the value of the property purchased
          Property Value up to $20,000, the rate is 4%
          more than $20,001 and up to $50,000, the rate is 6%
          more than $50,001 and up to $100,000, the rate is 8%
          more than $100,001, the rate is 10%

The usual practice in the Bahamas is for the Stamp Duty to be shared equally between buyer and seller unless otherwise agreed upon.

First time buyers may be exempted from stamp tax on a dwelling house or vacant land purchased for a dwelling house, up to the value of $500,000.


In addition to the above there will also be other minor fees for the Alien Landholders License, residency papers etc.


Bahamas Properties
Click Here to view our Bahamas Properties

Bahamas General and Travel Information
http://bahamas-guide.info/site.info/sites.of.interest/

Bahamas Property



Bahamas Local Taxation
The Bahamas have no income tax, capital gains taxes or inheritance tax. There is no sales tax with the exception of the Stamp Duty paid on the conveyancing of real estate.

Bahamas Import Duties
The import duties charged in the Bahamas varies depending upon the material being imported and ranges between 7 % for raw lumber, up to as high as 210% on cigarettes.  The typical import duty for most common items is around 35%.

Bahamas Property Taxation
The rate of property tax in the Bahamas is quite high and is applied as follows :-

In respect of owner-occupied property:
The first $250,000 of market value is tax exempt
More than $250,000 and not exceeding $500,000 of market value is ¾%
More than $500,000 and not exceeding $5,000,000 of market value is 1%
More than $5,000,000 of market value is .25%

In respect of unimproved property other than unimproved property exempt by virtue of Section 39 of the Real Property Tax Act:
First $7,000 of market value is $100
More than $7,000 of market value 1½%.

In respect of any other property:
First $500,000 of market value is 1%
More than $500,000 of market value is 2%


Bahamas Residency
It is possible to establish residency in the Bahamas and the Government of the Bahamas has set specific guidelines that allow non-Bahamians to establish permanent residency.

All applicants are required to invest a minimum of $500,000 in the country. This investment may be in the form of the purchase of a property with a minimum value of $500,000.

Permanent residency falls into two categories, one for those wishing to work in the Bahamas, and the other for those who do not wish to work in the Bahamas.

Non-Bahamians who already own property in the Bahamas may apply to the Director of Immigration for an annual homeowner's residence card. This card is renewable annually and entitles the owner and his family to enter and remain in the Bahamas with minimal formalities for the period of time granted.


Bahamas Property
Click Here to view our Bahamas Property


Bahamas Property and Bahamas Real Estate

Please note that the information on this page is subject to constant change and revision and may not be fully up to date.  Users are advised to verify any information that could effect their decision on buying a property, visiting this country or any other matter of importance.


Bahamas Property and Bahamas Real Estate


 Copyright 2007 - 2013 Caribbean Land and Property Limited

|  Back |  comparisons |
Last Updated On 21 Nov 2017