The Bahamas is an archipelagic state consisting of more than 700 islands, cays, and islets in the Atlantic Ocean. Unsurprisingly, this state encompasses one of the most beautiful islands of the world. The Bahamas became a British Crown Colony in 1718 and gained independence from the British in 1973. To date, on account of per capita GDP, it is one of the richest countries in America.
Did you know that among the 700 Islands, only 30 of them are inhabited by people?
Even with the 30 Islands, the Bahamas has much to offer. It has become an attraction for people who want to relocate as well as for career enthusiasts due to its immensely growing economy. When it attracts tourists, it also attracts income. These tourists sometimes make up their mind to relocate in the region due to various factors and then, that makes the Bahamas appealing for foreign property investors – both, who would want a return on their investments and those who want to make a better living for themselves. Why is that so? We shall tell you!
1. Bahamas: The incredible beauty!
The Bahamas is no doubt, known for its scenic beauty. Azure waters, crystal sand and pristine beaches – this is what defines the Bahamas. When someone considers buying waterfront homes for sale in the Bahamas they are bound to expect top quality beaches. You can not only tan and have fun on the beaches, but will also find one of its kind, Pink Sands Beach, only in the Bahamas! This place has everything; from tropical plants to golf courses to beautiful seas; it is a complete package when you relate beauty with amenity.
2. Political stability:
While people consider buying luxury homes in the world, they should not forget the fact that there are a few things that money can’t buy – peace and stability. To live a peaceful life in any state, it is important to make sure that the place has political stability. Since independence, the country conducts free and fair elections with at least 90% voters’ turnout. The region is known for peaceful protests and fosters political change if required. Why this aspect is the best is that the political affiliation of anyone would not make the place insecure for them.
3. Geographical Importance:
The Bahamas is accessible from the US and Europe. This attracts a lot of tourists and thus inwards earning. The economy is supported by its geographic location. The Bahamas is in close proximity to shipping lanes and encourages port activities. Not only has this attracted investment and job opportunities for the locals but also soars the property prices as more people prefer settling in the region.
4. Price – it is worth it!
A range of foreign property investors have been attracted to the Bahamas and have purchased properties ranging from multi-million dollar estates to modest homes and condominiums that range between $150,000 – $400,000. Investors around the world are pining to invest their money in the archipelago owing to the low tax regime. There has been some consideration going on by the government to increase the threshold to $750,000 and it is also committing itself to launch a rapidly streamlined service for the investors seeking to purchase $1.5 million or more real estate, by processing their applications within three weeks. This is actually a good deal.
The Bahamas is a place where your personal property is guaranteed and life secured as it has a legal environment which is based on an age-old convention of parliamentary democracy and the writ of the constitutional and legislation. The Bahamas also has a fiscal policy that stabilizes its macroeconomic environment. The region also ensures freedom from Payroll and Interest, Profit Remittance, Withholding, Inheritance, Capital Gains, Royalties, Sales, and Personal Income taxes. Its economy is marked by stable exchange rate, free trade, and flexible exchange control rules. There are also other basic public services, modern education and health facilities and well-maintained policy constabulary that are reasons to find your residence in the Bahamas. Buying luxury homes in Bahamas was never so appealing!