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The Bahamas

Damianos Realty

Want to Buy an Island in the Bahamas? We Have Some Ideas for You

If you want to buy an island in The Bahamas, Blue Island is an option. Blue Island, one of several private islands exclusively listed by Damianos Sothebys International Realty, is a 700-acre island in the Exuma cays and features a brand-new 5,700-foot asphalt jet airstrip, more than three miles of coastline and white sandy beaches, elevations up to 100 feet and numerous private beachfront homesites.

As an archipelago comprised of more than 700 islands and cays, The Bahamas is known the world over for being home to some of the most breathtaking islands on the planet. Whether you’re looking for a private sanctuary for hosting guests, a bonefishing mecca or scuba diving and snorkeling adventures, each island offers its own version of what it means to live in paradise. In addition to Blue Island, pictured above, below are more islands exclusively listed by Damianos Sotheby’s International Realty for those who want to buy an island in The Bahamas.

Saddleback Cay, Exuma Cays

Saddleback Cay, a private island in The Bahamas named by locals because of its shape as seen at sea level is situated on the northern tip of Norman’s Cay in the northern part of the Exuma Cays. Norman’s Cay has a 5,000 foot airstrip making Saddleback Cay easily accessible but still private. There are 47 acres and 7 pristine white sand beaches with elevations up to 90 feet plus a protected deep water harbour accessible from the Atlantic side. View more details here

Whale Cay

Whale Cay is a private island located in the fishing mecca of The Bahamas, the Berry Islands, and comprised of a total acreage estimated to be between 711 acres and 850 acres. Situated between the Bahama Banks and the tongue of the ocean, the Berry islands have long attracted visitors who enjoy fishing and boating plus it has great proximity to Florida and is just 30 miles north of Nassau. The Island is primed for residential development, with 570 to 711 acres included in this listing, total acreage to be conveyed subject to final survey. There are 12 miles of shoreline and 13 white sandy beaches totaling 7 miles. View more details here.

Lobster Cay, Eleuthera

Lobster Cay is a 3.473-acre secluded tropical hideaway nestled among the crystal-clear turquoise waters of Eleuthera in The Bahamas. This truly unique private island paradise offers all the comforts and amenities of a luxury estate and provides ideal potential for an exclusive development. Lobster Cay is conveniently located in an up-and-coming area close to an airport and just a short boat ride from the increasingly popular island of Spanish Wells, the lobster capital of The Bahamas. Also nearby is the desirable tourist destination of Harbour Island, home of the world-famous Pink Sands Beach. View details here.

Foot’s Cay, Abaco

This enchanting 20-acre private island located on the Sea of Abaco in The Bahamas captures the essence of island living. Just 30 minutes from the international airport and jet service, Foot’s Cay offers uniquely convenient access to the central hub of Marsh Harbour, Abaco. The four suite “Main house” with it’s impressive vaulted ceilings, massive doors, and limestone floor evokes a sense of grandeur with a clean, simple aesthetic. Wide covered verandas flow seamlessly from the great room and offer gracious outdoor living and dining areas. With professional quality appliances and seating for twenty, this island house serves as the backdrop for truly memorable dining experiences. View more details here.

About Sotheby’s International Realty
The Sotheby’s International Realty network currently has approximately 22,000 affiliated independent sales associates located in over 950 offices in 69 countries and territories worldwide. Each office is independently owned and operated.

About Damianos Sotheby’s International Realty
Damianos Sotheby’s International Realty has 11 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, Exuma, Nassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242-322-2035 or info.Bahamas@SIR.com.

June 26, 2018 by
Damianos Sotheby's International Realty

Nandana Redefines the Grand Bahama Real Estate Market

Asian inspiration in the heart of Grand Bahama. Located on Freeport, Grand Bahama, Nandana is an awe-inspiring waterfront estate for sale featuring an infinity pool overlooking the ocean and five-star amenities.

Lying just 52 miles off the coast of Palm Beach, Fla., and known mostly as a prime cruise destination, Grand Bahama is the fourth largest island in The Bahamas. Offering some of the best fishing in the world, Grand Bahama is celebrated for its natural beauty from the white sands of Taino Beach to the tranquil waterfalls of Garden of the Groves and the underwater caves at Lucayan National Park.

It is also quickly becoming known as home to one of the most luxurious mansions in the world. Set within an exclusive, gated enclave at the far West End of Grand Bahama, Nandana is a palatial Asian-style mansion that combines the freedom of residential living with the bespoke services and amenities of a five-star hotel. From candlelit dinners served under the stars to the Italian linens that grace the estate’s custom-made beds, every nuance and detail has been carefully crafted to enhance the unique feel of this ultimate Caribbean escape.

Designed by a renowned architectural firm in an Asian beach house style, the property is comprised of six separate buildings. A spectacular main house with soaring 40-foot ceilings is surrounded by five free- standing bedroom suites. The interior of the property has been constructed entirely of natural materials with massive amounts of imported Burmese teak covering the floors, walls and ceilings and natural stone forming most other surfaces. A professionally designed lighting system has been installed to emphasize the property’s many distinctive architectural features.

This dream home also features a full range of indoor and outdoor activities including a 50-foot deep sea fishing yacht, a 15-foot inflatable tender, jet skis, off road all-terrain vehicles, fishing gear, snorkeling equipment, bicycles and CD and DVD libraries. A golf course is just a short drive away and a full range of adventures can be arranged for visitors from private air charters to neighboring islands, picnics on deserted island beaches, world-class bone fishing to swimming with dolphins and shark diving.

Nandana is accessible by yacht or by private aircraft via an adjacent 6,000-foot runway with Bahamian Customs and Immigration services. For more information or details, please visit Real Life Magazine  or Leading Luxury Estates of the World

About Sotheby’s International Realty
The Sotheby’s International Realty network currently has approximately 22,000 affiliated independent sales associates located in over 950 offices in 69 countries and territories worldwide. Each office is independently owned and operated.

About Damianos Sotheby’s International Realty
Damianos Sotheby’s International Realty has 11 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, Exuma, Nassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242-322-2035 or info.Bahamas@SIR.com.

June 19, 2018 by
Damianos Sotheby's International Realty

Buying Real Estate in The Bahamas? Here’s What to Expect When You Buy a House

Buying Real Estate  in The Bahamas. The country’s tax-neutral environment, tropical climate and world-class fishing and diving are among the top reasons Americans and Europeans alike cite for buying real estate in The Bahamas.

GOVERNMENT TAXES ON PROPERTY CONVEYANCES*

  • 2.5 % Government Stamp Duty on all real estate transactions
  • 10% Value Added Tax applicable on all property transactions valued at $100,000 or more.

The usual practice in the Bahamas is for the tax to be shared equally between buyer and seller unless otherwise agreed upon.

A 12% Value Added Tax (VAT ) is charged on real estate services, including appraisals, legal work, commissions and insurance.

*Laws and policies are subject to change.

LEGAL FEES

Both buyer and seller need legal representation by Bahamian attorney.

THE BAHAMAS REAL ESTATE COMMISSIONS

  • Developed property: 6%
  • Undeveloped property (vacant land): 10%

ANNUAL REAL PROPERTY TAX RATES

The rates of tax on real property are as follows:

In respect of owner-occupied property

  • The first $250,000 of market value is tax exempt
  • More than $250,000 and not exceeding $500,000 of market value is 0.625%
  • More than $500,000 and not exceeding $5,000,000 of market value is 1 %
  • More than $5,000,000 of market value is ½%

In respect of unimproved property: (other than unimproved property exempt by virtue f Section 39 of the Real Property Tax Act)

  • First $7,000 of market value is $100
  • More than $7,000 of market value 1 ½%

In respect of any other property:

  • First $500,000 of market value is 1 %
  • More than $500,000 of market value is 2%

THE BAHAMAS REAL ESTATE EXEMPTIONS

  • Property owned by Bahamians and situated in the Family Islands is exempt from property tax. Property approved as commercial farm land (by the Minister of Agriculture and Marine Resources, and the Minister Finance) may be eligible for property tax exemptions.
  • Unimproved property owned by Bahamians, meaning property without physical additions or alterations, or any works benefitting the land which have not increased the market value thereof by $5,000 or more;
  • Places of religious worship; school buildings and their gardens and playing areas;
  • Property owned by foreign governments;
  • Property owned by foreign nations used for consular offices or residences of consular officials and employees;
  • Property used exclusively for charitable or public service from which no profit is derived.

PERMANENT RESIDENCE STATUS

Overseas persons investing in a residence valued at $750,000 and over, may apply to the Department of Immigration for Permanent Residency status. Holding a Permanent Residency certificate can lead to significant tax advantages in your home country. Accelerated Consideration for a Permanent Residence certificate is offered to purchasers of residence (homes or condos.) of $1,500,000 or more.

ANNUAL HOMEOWNERS RESIDENCE CARD

Available to any homeowner in The Bahamas. Obtained from the Director of Immigration, it allows the permit holder, and family, to enter and remain in The Bahamas for the period of the permit.

SHIPPING FURNITURE AND HOUSEHOLD ITEMS

Easily handled by a shipping or airfreight company which makes moving and decoration quite easy. A detailed inventory of items with approximate value is need and we suggest using local customs prior to clearing your items.

FINANCING

Local banks offer BSD$ and US$ Mortgages to finance the purchase of a home or property in The Bahamas.

As of July 1, 2018 the Bahamas Government will impose a 12% Value Added Tax (VAT) on Real Estate Commissions and Legal Fees.

For more information on real estate taxes in The Bahamas visit The Ministry of Finance’s website.

 

About Sotheby’s International Realty
The Sotheby’s International Realty network currently has approximately 22,000 affiliated independent sales associates located in over 950 offices in 69 countries and territories worldwide. Each office is independently owned and operated.

About Damianos Sotheby’s International Realty
Damianos Sotheby’s International Realty has 11 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, Exuma, Nassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242-322-2035 or info.Bahamas@SIR.com.

May 22, 2018 by
Damianos Realty

Acquiring Bahamian Permanent Residency By Investment

Bahamian Permanent Residency By Investment. Bahamas real estate investment laws offer international home buyers the opportunity to acquire permanent residency in The Bahamas when purchasing a home valued at a minimum of $750,000.

 

In The Bahamas, overseas persons investing in a residence valued at $750,000 and over, may apply to the Department of Immigration for Permanent Residency status. Holding a Permanent Residency certificate can lead to significant tax advantages in your home country. Accelerated Consideration for a Permanent Residence certificate is offered to purchasers of residence (homes or condos.) of $1,500,000 or more.

Additionally, an Annual Homeowners Residence Card is available to any homeowner in The Bahamas. Obtained from the Director of Immigration, it allows the permit holder, and family, to enter and remain in The Bahamas for the period of the permit.

The main benefit of acquiring Bahamian permanent residency through investment is to make the transition of moving to The Bahamas quick and simple, with no disruptions to your professional or personal life. Other benefits of holding a Bahamas Investor Residence Visa include:

  • Right to reside in the Bahamas without further renewal of permits.
  • Right to enjoy all privileges enjoyed by citizens of Bahamas except for the right to vote.
  • Right to purchase property in Bahamas
  • Liberal tax regime.
  • Easy travel to Commonwealth nations, members of the Caribbean Community and the members of the Organization of American States
  • Eligible to apply for Citizenship of Bahamas after fulfilling residence requirements.

Get more on the benefits of investing in The Bahamas.

About Sotheby’s International Realty
The Sotheby’s International Realty network currently has approximately 22,000 affiliated independent sales associates located in over 950 offices in 69 countries and territories worldwide.  Each office is independently owned and operated.

About Damianos Sotheby’s International Realty

Damianos Sotheby’s International Realty has 11 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, Exuma, Nassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242-322-2035 or info.Bahamas@SIR.com.

May 22, 2018 by