Harbour Island real estate includes some of the most exclusive properties in the Bahamas and attracts affluent buyers from around the world. The island’s warm weather, hospitable people, festive traditions, and laid back lifestyle is what draws many non-Bahamian homeowners to this tropical paradise. And if that isn’t reason enough, since the International Persons Landholding Act took effect in January 1994, there are no restrictions on foreigners buying properties in the Bahamas.
Why purchase Harbour Island real estate in Harbour Island?
- Harbour Islands Bahamas is less than an hour from Miami Florida
- The Bahamas is one of the wealthiest countries in the Caribbean
- The Bahamas has a stable parliamentary democracy
- The legal system is based on English Common Law (British legal system)
- All Bahamians speak English
- The Bahamian Dollar is pegged to the U.S. dollar at 1:1
- U.S. currency is accepted throughout the Bahamas
- Like in the United States, land is owned in fee simple (freehold estate)
- Property taxes are reasonable and range from 0.25% to 2% of the property value
- There is no corporate or personal income tax in the Bahamas and:
– No capital gains tax
– No sales tax
– No estate taxes
With its tax benefits, stable government, dedication to economic development and safe environment, buying a property in Harbour Island Bahamas can be a profitable option for preserving wealth today.