Bahamas real estate questions?

[jwhitlock]

I am thinking about purchasing land or a lot in Abaco or possibly anywhere else in the Bahamas . I have already checked out prices and taxes . Is there any other catches or problems I will encounter later on after Ive purchased the land . Im considering using it as an investment or possibly retiring there . If someone could give me a heads up it would be appreciated .

 

[Al Mialkovsky]

Take a look at tax laws. It seems very doable but while most taxes are nil property taxes can hurt.

 

[jwhitlock]

The realestate agent said that property tax was around 1% . And he said it much like it is in the US when owning property . But then again he wants sell me some property . I m going to try to research this through a Bahamas Gov. web sight if I can find one.

 

[Al Mialkovsky]

I tried to find the link I used but of course I've lost it. Typical of me. I'm sure you can goggle it.

 

[mike_s]

someone once told me that forgein ownership of land in the bahamas, that the Bahamian government could "take back" land owned by forgeiners at any time. Now I have no clue if this is true or not, but before I bought land there, I'd check into it.


The real estate agent isn't acting 100% in your interest always becaue his comission
is based on a sale to you.

 

[SubMariner]

I am thinking about purchasing land or a lot in Abaco or possibly anywhere else in the Bahamas . I have already checked out prices and taxes . Is there any other catches or problems I will encounter later on after Ive purchased the land . Im considering using it as an investment or possibly retiring there . If someone could give me a heads up it would be appreciated .

I strongly suggest talking with the Bahamian gov't as well as a Bahamian lawyer. Their laws are very much skewed towards Bahamian citizens when it comes to owning property, running a business, etc.

 

[Tavi]

At one of the more pricey developments on Grand Bahama Island, I heard they were selling the same lot to 7 or 8 different people.

 

[Al Mialkovsky]

At one of the more pricey developments on Grand Bahama Island, I heard they were selling the same lot to 7 or 8 different people.

oh wouldn't that bite

 

[jwhitlock]

Thanks for the advice , Im taking a trip to the Bahamas in May it will be easier to check out then .

 

[PaulChristenson]

I am thinking about purchasing land or a lot in Abaco or possibly anywhere else in the Bahamas . I have already checked out prices and taxes . Is there any other catches or problems I will encounter later on after Ive purchased the land . Im considering using it as an investment or possibly retiring there . If someone could give me a heads up it would be appreciated .

http://www.investbahamas.org/content.php?id=29

http://www.investbahamas.org/legislation.php?type=investments

http://www.bahamas.gov.bs/

Paul in VT