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Bahamas is another prosperous island of Caribbean region. The country relies heavily on tourism and the tourism industry is the main GDP holder of around 60% in the economy. In addition to this, the financial service in Bahamas is another contributing factor in the GDP and comprising 15% of the total GDP for Bahamas.
The financial reforms are introduced heavily in in order to attract the foreign investment. The global recession had a very minute impact on the financial sector of which shows its well established financial standing. The tax regime is pretty different for. The country earns its revenues from license fees, import tariffs, stamp taxes and property taxes, but there are no capital gains tax, corporate tax, income tax, wealth and value added tax. So this tax exemption has played a great role in inviting the investors to invest in Bahamas venture.
Bahamas offers many opportunities. It includes the beach villas to condos. The villas with sea fronts and swimming pools are a part of the in. As the economic boom is sustaining in Bahamas, the value of the property is appreciating, which has created favorable international rentals and local Bahamas rentals. However, there are certain regulations which need to be followed when investing in the Bahamas for sale. Here are the following regulations:
1. The international real estate for sale package issued by includes that the foreigners who are interested to invest in Bahamas must apply for a permit. This permit is launched by the International Persons Landholding act. In addition to this, Bahamas for sale needs to be registered with the Foreign Investment Board of the Bahamas.
2. Real estate in Bahamas is sold freehold. However, it is recommended that if a buyer has gone through the international listings comprising of international rentals for Bahamas, then he should take the guidance of the attorney as well. In addition to this, Bahamas listings could prove an added guidance in the purchase.
3. The major attraction which keeps the Bahamas in the international exchange is the fact that there is no capital gain tax over the resale of the property if it is registered with the Exchange Control Department when it is purchased.
4. Another attraction which the has in comparison to the international real estate platform is that it allows the visitors to stay in their villas in Bahamas for a period of eight months till they get a job. These visitors are also provided with the departing ticket and other financial support during this time.
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