Land Investment on the Paradise
Island of Great Exuma, The Bahamas
By Tina-Consuela
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| Lying 320 miles southeast
of Miami, is the beautiful and unspoilt island of Great Exuma in the Bahamas.
Considered by many to be the most beautiful area in the Bahamas, the Exumas
are a picture perfect chain of islands and cays that stretch for over 100
miles from Nassau, the capital, to Great Exuma, straddling the Tropic of
Cancer in the south. The Bahamas consist in total, of 700 islands lying
in 100,000 square miles of crystal clear azure blue waters. Endless unspoiled
palm fringed beaches, warm sea breezes, friendly English speaking residents,
and a stable political environment, help attract not just holiday makers,
but those seeking excellent investment opportunities with land purchase
as well as some wishing to make the Bahamas, their ‘home away from home’.
Tax Free
Haven - Nassau, the capital of the Bahamas is a leading international
‘off-shore’ banking centre. With over 400 banks, it is second only to London
in the number of financial institutions it hosts. The ‘Tax Free’ status
of these islands attracts international businesses as well as wealthy individuals.
In the Bahamas there’s no income tax, corporation tax, capital gains tax,
dividend tax or estate duty. |
Georgetown
- Great Exuma
The Bahamas
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The Bahamas
places no exchange controls on non-residents, has no restrictions on the
repatriation of profits, and has asset protection legislation. No wonder
so many international resort developers have been attracted to these islands!!!
In 1973, the Bahamas achieved independence after many years of British
colonial rule. Today it is a member of the British Commonwealth, Her Majesty
Queen Elizabeth is Head of State, English is the main language, and they
still drive on the left hand side of the road. Barristers can be seen walking
in and out of the law courts wearing a wig and gown just as they do in
Great Britain.
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The Exumas - Although
the islands of the Bahamas are beautiful, the Exumas are the jewels in
the crown. There are 365 unspoiled islands and cays that run for over 100
miles from Nassau southwards to the edge of the West Indies. Great Exuma
is the largest of these islands, stretching across the Tropic of Cancer,
about 300 miles off the coast of Florida. Here you will find 85 sq miles
of undulating hills, sheltered coves, and pastel colonial settlements;
a world away from the stresses of 21st century life. Despite it’s
size, Great Exumas population only numbers 3,500. It’s climate is ideal.
In winter the island basks in 80f (27c) of sunshine, while in summer, Exuma’s
heat is mediated by the gentle breezes off the Atlantic. |
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The Exumas support the only marine
park of its kind in the world, and are famous for superb bone fishing,
yachting, diving and snorkelling. The Bahamian government is grooming Great
Exuma to become the number one resort in the Bahamas, and an enormous amount
of money and effort is being invested by the government to achieve this
goal. Consequently, this gorgeous exclusive island is experiencing increasing
land values offering superb investment, and for those who wish to build,
to let, excellent rental returns. It is therefore hardly surprising that
resort developers and individuals alike, have identified Great Exuma as
one of the great opportunities for investment.
Island Attractions - The Four
Seasons Hotel resort is one such group that has recently opened its 5-star
hotel and 18-hole Greg Norman ‘signature’ golf course. A 200-place marina
and casino are also due to open shortly.
Other developers such as Latitude
Exuma purchased ‘Crab Cay’, a 160 acre island in the middle of Elizabeth
Harbour where it will build around 100 villas with a £1million to
£5million price tag, 5 star hotel and a 55 place ‘superyacht’ marina.
February Point Resort Estates has now sold out of it’s fabulous 3-bedroom,
waterside town houses. There are wonderful hotels, restaurants and bars
dotted around Georgetown, the quaint capital of Great Exuma which overlooks
the sheltered Elizabeth harbour and provides all the services one may need
ranging from supply stores, a beauty parlour, medical clinics, car-hire,
and game-fishing etc. There is virtually no crime on the island and therefore
people don’t even bother to lock their doors! There are no traffic lights,
shopping malls or fast food outlets…..instead there is mile upon mile of
unspoilt, deserted powder blue soft beaches and palm fringed coves…..all
basking
in glorious sunshine. ..
| Freehold Building
Plots with Planning Permission - At present there are a few hundred
plots of land remaining for sale from the original total. Prices are soaring
and it’s safe to say that land will never be this cheap again. For those
interested in enjoying the opportunities that exist on Great Exuma, quarter-acre
freehold building plots with outline planning consent already granted,
are available from US$ 16,235 (£9,900) up to US$50,000 (£28,000)
depending on their proximity to beaches, Georgetown the capital, and whether
or not they have sea views. All plots come with absolute title. However,
as the island is 47 miles long and 4.5 miles wide at it’s widest point………..you
are never far from the water. Delightful two bedroom homes can be built
for US$ 85 (£47) to US$ US$ 125 (£69) per square foot.
Finance is
also available from the owners of the land. They are able to offer their
own terms of purchasing for investors who do not want to put down a lump
sum as they own the land outright. Investors can elect to put down 25%
deposit and pay 36 monthly instalments at 9.9% interest. Alternatively,
they may wish to go for a 50% deposit with the balance due over 18 months,
at 5.9% interest. If purchasing by this method, the company allows the
purchaser to exchange plots should they want to do so as long as the plot
is the same price or more in cost, for the duration of the term of the
loan. |
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There is no financial
penalty for investors purchasing plots. You pay exactly what you owe. As
stated before, the title to the purchased land is absolute and this is
registered at the land registry in Nassau.
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| This is
a really exciting opportunity for individuals to invest in this paradise
island, where land values in some areas have risen by over 100% in the
last 3 years and rental opportunities are excellent. For an information
pack please contact Tina-Consuela of “Bahamarama” on tcbee@onetel.com
with your mailing address and contact number. Or telephone +44 1978 710077
mobile +44 7974 308743 |
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Great Exuma boasts an international
airport with daily flights to and from Miami, Fort Laudadale and Nassau.
Even the round trip from one of
London’s airports in Great Britain only costs in the region of £450.
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Links to related articles &
resources:
| So, You
Want To Move To The Bahamas - So,
You Want To Move To The Bahamas
- I have compiled the following pages for your enjoyment, with the help
from my wife Andria. She is a native born Bahamian, who spent 25 years
living in the United States, while I am an American.I wrote this E-Book
it to assist people who might desire to move to the Commonwealth of the
Bahamas and to better understand the people and lifestyle. The Bahamas
consists of over 700 islands of which proximately 34 are inhabited. |
| Residence,
Immigration & Work Permits - Special Feature From LowTax Online TaxWire
- Residence,
Immigration & Work Permits - Special Feature From LowTax Online TaxWire
- Residence, Immigration & Work Permits. Countries covered are: Bahamas,
Bermuda, Gibraltar, Guernsey, Hong Kong, Ireland, Isle of Man, Jersey,
Mauritius and Panama. |
| Investment
& Travel -
Investment & Travel - Dialing for dollars in Brazil & Feasts
and finds in Nassau |
| Bahamas
~ Tax Haven - Resources for Bahamas - Bahamas
~ Tax Haven - Resources for Bahamas - Information on relocating
to the Bahamas. Tax Haven & Offshore Investment Resources for The Bahamas
- Our section on offshore investments in the Bahamas. |
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