The Bahamas, a Caribbean Community, is an independent offspring of Great Britain and a self-governing member of the Commonwealth. It is a member of both the United Nations and an Organization of American States.
Careers in Administration within the Bahamas, start the pay scale at about $24,000 per annum and stretches through mid to upper management positions which yield about 75 to $100,000 per annum. Business owners however easily draw in millions with an all year booming tourism industry, import, and export primary need and private banking and trust services in demand. The cost of living in the Bahamas is about 40% higher than that of life in America in that the Country relies heavily on the imports of the USA made and global goods to operate its day to day functions.
Many foreigners move to the Bahamas annually for its year-round sunny clime and extensive palate of opportunities. Purchasing property in the Bahamas as a foreigner is a lot easier to do than it is in most countries around the world. Applying for Permanent Residency as a preliminary step, can make an already simple process, that much easier to achieve. In doing so, one avoids heavy taxes imposed by the country in which you currently reside while also avoiding unnecessary purchase taxes and real-estate commissions which in this scenario is shared and in many cases totally the responsibility of the seller. While legal fees may vary from case to case; as the buyer, you can expect to pay about 7.5% of the purchase price. It is encouraged that anyone seeking to purchase within the Bahamas, do so with a keen real-estate attorney that is familiar with the terrain to execute the process on your behalf but more so to examine the details of the title so as to avoid common pitfalls.
Homes in the Bahamas start at relatively low rates despite it being a destination of choice. Its prices attract investment buyers by the droves as well as those seeking vacation or second homes. Purchases range from a minimum of $150 per sq. ft. and spikes with Bahamian luxury living starting at about $800 per sq. ft. A small price to pay for the most memorizing beaches and views, rich Eleutheran pink sand, its many diving cliffs and near white mid-ocean sandbanks.
As it does in most parts of the world, purchasing within the city is far more expensive than it is to purchase on the family islands which may for clarity be referred to as states. Although the Bahamas has one city; Nassau, it also prizes both Freeport and Abaco Island as Cities as well because of their size and their drawing of the larger portions of the economic makeup of the country and are therefore named second and third cities respectively.
The Family Islands are a lot quieter than the city of Nassau and therefore appeal to more family’s looking for a relaxing island vibe that is predominantly crime-free. Their way of life is simpler and yields to a neighborly, community-based aura with a people that are effortlessly friendly and helpful. There are occasional misfits but the family islands crime reports are mild standing at 5 to 10 incidents per year at most. The far eastern and western tips of New Providence along with its Paradise Island jurisdictions report crime in similarity to the family islands in that the caliber of residents is a bit more upscale. All in all, life in the Bahamas is good and is desired by many the world around seeking change or additional streams of revenue. Invest in the 700 island treasure box of The Bahamas Islands.
