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Buying Lyford Cay Real Estate

If you’ve ever dreamed of owning a piece of Bahamas real estate, you’re not alone. Many celebrities and high-profile individuals have bought property in the country. The country has a tax system that’s friendly to investors, world-class shopping, world-class golf courses and spas, and some of the most luxurious homes in the Caribbean.

The most luxurious Bahamas property is available in some of the most exclusive, upscale areas. Lyford Cay, for example, is a gated community that boasts a spectacular 74-slip Yacht Harbour and a high elevation that’s perfect for building a luxurious home. The island is also home to actors like Sean Connery and Arthur Hailey, and former CBS head William Paley.

Foreign investors can purchase real estate in The Bahamas without a permit, but buyers should know that realtors and lawyers’ fees are high. It is also important to know that the government has strict regulations regarding foreign property ownership. The country’s International Persons Landholding Act, which replaced the Immovable Property Act of 1981, has made purchasing foreign property in the Bahamas much easier. As long as you own a property in excess of 5 acres, you can get a homeowner’s residence card. Once you buy a property in The Bahamas, you must register it with the Central Bank and Investment Board to make sure your property is legally yours.

There are other legal requirements that must be met before you can purchase Bahamas property. The Bahamas Property Investment Authority will approve or deny your application if you don’t have the proper paperwork. Before you sign any paperwork, you must be sure that your property is free of liens and other encumbrances. You may be required to pay stamp duty on your purchase, which is a source of government revenue. The fee is based on the price of the property you’re buying.

In addition to paying the government’s Stamp Duty, you’ll also need to pay fees to your realtor and real estate agent. The fees can total up to 9.1% of the total value of the property. However, the government offers exemptions for property that’s owned by a Bahamian, and is deemed commercial farm land.

Another reason to invest in Bahamas property is that it has no inheritance, capital gains or income tax. The government also offers tax incentives for foreign businesses. As the richest country in the Caribbean, the country is a top choice for investors and business executives. The country boasts an exemplary tax system and a strong expat community.

The Bahamas Property Fund is led by Larry Roberts, who has been in the real estate industry for over 50 years. He is a licensed broker and Past President of the Bahamas Real Estate Association. lyford cay real estate He’s also a member of the Society of Industrial & Office Realtors. He recently retired from NAI Bahamas Realty Commercial, where he specialized in leasing and selling commercial properties.

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