If you want to make some serious money, you should focus on investing rather than saving. When you save money, its value depreciates over time, as inflation increases, if you make the right investments, the value of your assets increases as time goes by. Therefore, the financially sound decision is always to invest (in real estate and more).
But the problem is, where should we invest, and in what kind of business? Though you should invest locally, if you are thinking about international investment, The Bahamas is a great choice.
Right now, it is a great time to invest in the Bahamas. Tourism is one of the most significant exports of this region, and it has been suspended because of the pandemic, however, when it ends.
The international flights reopen, there is going to be a significant rise in tourism to the Bahamas since it is close to the US and an affordable travel destination. You can be sure that any investment will generate a lot of revenue for you once Tourism starts again.
However, don’t just take my word for it; here are eight reasons why The Bahamas are a great place to invest.
The Bahamas are close to home:
The great thing about investing in the Bahamas is that it is within 50 miles of the world’s largest economy, the US.
The Bahamas is just a 90-minute flight away from Florida, and it is close to the major Latin American and North American financial centers.
This proximity to home also contributes to the convenience of travel. Managing any business in the Bahamas will be easier than other countries since it will be easier to visit physically.
Moreover, the flights will also be more affordable. You can expect to fly from Florida to the Bahamas for as little as $200.
A wide variety of investment options:
In the Bahamas, you have quite a variety of different investment options. However, your best bet is to invest in a business or property that is impacted by tourism.
For instance, you could invest in a small resort, or start a business renting water sports gear. You can invest in a restaurant, or build a fast food joint, both of which can be very profitable businesses.
If you have the capital, you can buy a private island in the Bahamas as well, this is a fantastic investment since the prices of property are always going up, and if you build a small resort or home of this island, you can get an active income from it as well. Visit BahamasIslands.com to learn more about how you can purchase a private island in the Bahamas.
Any home, apartment, or residential property you buy in the Bahamas will be an Airbnb gold mine. Every year thousands of tourists pour into the Bahamas, and most of them look for Airbnb apartments to stay in.
You can also rent out your property for destination weddings, which are quite popular in the Bahamas.
Great tax laws for international business owners:
With any international investment, taxation is a legitimate concern that has to be considered. However, in the Bahamas, you won’t need to worry too much about additional fees and taxes.
The government of the Bahamas has set many incentives for business owners that extended to foreign investors. The Bahamas are often referred to as tax havens because there isn’t any Income tax, inheritance tax, company tax, or capital gains tax that you have to worry about.
The bulk of the government tax revenue in the Bahamas is generated from property taxes, import taxes, consumption, and licensing fees.
Therefore, you will have unencumbered access to all your profits if you invest in the Bahamas, which you can’t get in other countries.
Excellent incentives for property investors:
Investing in the Bahamas’ real estate market is a great way to make a notable presence in the country, which opens up other investment options. Furthermore, you can continuously turn a profit as well.
There are very few restrictions that foreign real estate investors have to worry about. The Bahaman government has put a lot of effort into making the country a welcome destination for foreign investors.
Here are some of the incentives that the Bahaman government offers foreign landowners.
- Unencumbered access to the purchases of government-owned land
- Property tax exemptions
- Concession on Border taxes
- Tax concession on building materials, supplies, and equipment.
- Complete repatriation of profits without any income taxation
- If you own a residential property, you can apply for a Home Owners card, which will allow you to travel to the Bahamas whenever you want without a Visa.
A peaceful and stable economy:
Another factor that helps put investors’ minds at ease is that the Bahamas have had a peaceful democracy and economy since 1729. Therefore, you can be sure that economic or political factors won’t hurt your investment.
The Bahamas is the third most prosperous country in North America, after the US and Canada. And the economic stability of the region makes it a very attractive option for investors who want to expand their horizons from the borders of their own country.
Appreciation in property values:
Property is perhaps the best thing to invest in. Buying residential or commercial properties and waiting for them to appreciate can be quite a lucrative approach. Preferably, it would help if you looked for properties on the two major islands in the Bahamas.
Firstly, New Providence is mostly occupied by the capital Nassau, and secondly, the Grand Bahama. According to recent estimates, the properties on these islands have had a 10% increase in their value, every year since the 1990s.
Private islands are also a great investment. Though they require a larger initial capital, their value has increased by 100% every year for the last 20 years.
An English-speaking workforce:
With any business, you need to hire employees, and when you are investing internationally, managing the workforce can be quite challenging, mainly because of the language barrier.
Fortunately, you can find an English-speaking workforce in the Bahamas, which is another reason investing there is a good option.
Though the taxation on commercial properties in the Bahamas is already quite low, you can expect to get concessions if you create jobs for the local workforce.
Therefore, hiring locals can have many advantages if you are investing in the Bahamas.
Amazing climate and lifestyle:
Lastly, one of the most prominent reasons why investing in the Bahamas is a great idea is a climate and lifestyle. The Bahamas is a very beautiful destination, it is home to some of the most lively and amazing beaches in the world, and it has some great resorts.
The weather is fantastic throughout the year, which also invites a lot of tourists all year round, and more tourists mean more business for you.
By investing in the Bahamas, you will also spend a lot of time in this beautiful Caribbean paradise. It is an excellent place to spend the summers, look over your businesses and investments, while enjoying the lavish and relaxing lifestyle that the Bahamas has to offer.
Investing in foreign countries like the Bahamas can be a very lucrative business venture. The Bahamas offers several incentives to foreign investors and is also a significant vacation destination. If you were thinking about expanding your business empire’s horizons and investing in foreign countries, I hope this post could be helpful.
- Divvy Homes Rent-to-Own Program Explained (with Pros and Cons)
- Advantages and Disadvantages of Rent-to-Own a House
- Some Pros and Cons of Using a Real Estate Agent (for Sellers or Buyers)
- 7 Companies Like Divvy Homes (Alternatives) for Rent-to-Own a Property
- The Most Important Factors for Real Estate Investing
- 13 Opendoor Competitors – Best Companies Like Opendoor to Sell Your Home