Whether you’re looking for an investment property or a vacation home, the Bahamas offer a wealth of attractions, and not just the proverbial pearly-white beaches and crystal blue waters either. From Grand Bahamas island’s cosmopolitan nightlife to the Iguanas island’s exotic wildlife, the Bahamas boasts nearly 30 inhabited islands to explore, and thousands more uninhabited islets and cays, each with their own distinct character and history.

The Bahamas comprises 700 low-lying islands and cays that stretch over 100,000 square miles of the Atlantic Ocean between the southeastern tip of Florida and northern Hispaniola. The island of Bimini is just 25 minutes by plane from Florida. Nassau is the capital city, located on the island of New Providence. About 29 of the islands are well inhabited with the infrastructure to support tourism. Some of these Bahamian islands are Andros, Abaco (Home of The Bahama Beach Club Resort), Eleuthera & Harbour Island, Grand Bahama Island, New Providence (Nassau & Paradise) Island, Long Island, Cat Island and Bimini. From the multi-coloured seascapes and pristine sand beaches, to the exotic flora and vegetation, the Bahamas has it all.

New Providence, a small island dominated by Nassau and its suburbs, is home to 215,000 people fully three-fourths of the Bahamas population.  Nassau has a busy downtown with both modern and historic architecture, and on the outskirts, a strip of high-rise hotels and casinos along Cable Beach. Paradise Island, connected to New Providence by a bridge, is home to the gargantuan Atlantis and other resorts. New Providence and Paradise Island have many gated subdivisions and townhouse developments, as well as high-rise condominiums. On average, real estate prices here are much more expensive than elsewhere in the Bahamas.  Expect to spend $1.5 million for a typical canal-front house in one of the popular gated communities. A one-acre beachfront lot would cost at least $3 million.

The Bahamas is famous for its subtropical to tropical climate, pristine waters and breezy palm trees. Tourism is the main driver for the economy. In the Bahamas two main currencies are used interchangeably, the US dollar as well as the local currency. The Bahamas is recognized as a country with a stable economy and has the third highest per capita income in the western half of the world behind the US and Canada. Tourism accounts for almost 70% of the country´s GDP. Offshore finance ranks second at around 15%.

The Bahamas has attracted a very wide range of property investors looking for Bahamas Property for sale. From the very rich who have purchased large multi-million dollar estate properties to those who have purchased modest condominiums or homes in the $100,000 – $250,000 price range. The old axiom that states that location, location, location is a major determinant of demand and value has pushed the price of properties in specific areas of New Providence and Paradise Island to very high levels, but even at these levels prices are on par with other similar resort destinations. It is still possible to purchase waterfront and beachfront property in the Bahamas for as little as $50,000. Alternatively one can also spend $4,500,000 for 1 ½ acre beachfront site on Old Fort Bay..

It is fairly painless for a non-Bahamian to buy property in The Bahamas, although there was a time it was more costly. To encourage non-Bahamian investment, The Bahamas government passed the International Persons Landholding Act in 1993, reducing the costs associated with buying property and making them the same for foreigners as they are for local persons.

If a foreigner buys a single family dwelling or vacant land to be used in the construction of such a dwelling, then he no longer needs to obtain a permit from the Government prior to the purchase. He only needs to register the acquisition later with the Investments Board. Permanent residents of the Bahamas and foreigners who inherit property in the Bahamas dont have to obtain a permit before acquiring land but must register afterward.

One of the greatest benefits to buying land or investing in The Bahamas is that the nation is virtually tax-free. There are no income, capital gains or inheritance taxes. There is no sales tax except for the stamp duty paid on the conveyance of real property. There is real property tax. The government raises most of its revenue through import duties, licenses and fees.

With the purchase of Bahamas real estate, buyers can receive permanent residence in a veritable tax-free paradise with a stable economy, a democratic government, a modern infrastructure, and close proximity to the U.S. Moreover, under new legislation, it’s easier than ever for foreigners to buy property.

Finding your own share of paradise isn’t as hard as you may think. Whether you are new to the Bahamas real estate market or an experienced investor,  the Bahamas has the lifestyle that is just right for you.