By
OceanView
By
OceanView
Home |
The Bahamas |
Long Island |
Stella Maris |
The Beaches |
Activities |
Travel & Maps |
Photography |
Developments |
Real Estate
Contact Us |
About Us |
Privacy Policy |
Terms of Use
Webmaster
© 2008-2010 by Carutti Consulting, LLC, all Rights reserved
Previous Page
A wide selection of
residential lots in or near Stella Maris are for sale by owner.
You can build your own dream home at the shores of the Caribbean, the Atlantic
or on top of a hill near the Stella Maris Resort Club.
The exclusive Port St. George development:
A luxury boutique hotel,
full-service marina, marina village and a challenging 18-hole golf course stretching from the rocky Atlantic shores
to the calm Caribbean lee-side of
Long Island.
The Stella Maris International Airport has its own immigration and custom facilities thus allowing direct flights from the Unites States and other countries.
The 4 bedroom / 2 bath residence built
in 1981 and completely renovated in 2008 is a two-story concrete block single
family home with an extraordinary view.
The residence is in walking distance from the renowned
Stella Maris Resort Club
and the Atlantic Coast.
The Hilltop Project, four
attractive homes located on a high slope near the Stella Maris Resort Club, with
breath-taking views of the Atlantic Ocean and the
incredible beaches of the Caribbean.
The 3 bedroom / 2 bath homes have additional space for a guest apartment in the basement.
The Kingdom Project is a planned unique project on four exclusive lots located on a peninsula near the Columbus Monument and just adjacent to the World famous three miles long Cape Santa Maria Beach. Four exclusive single family residences - or one mansion only, a true Kingdom - at the north end of Long Island.
Homes exclusively designed by a Swiss artist and architect in a typical Bahamian-Caribbean style have very attractive floorplans and can be built by local contractors to your desire.
The International Persons Landhold Act:
In 1994, the International Persons Landholding
Act was passed and incorporated by the Bahamian Government. Owning property by
foreigners as well as by companies controlled by foreigners would now be much easier.
Any purchase of property or interest in property must be filed with the Ministry
of Financial Services & Investments for registering with the Investment Board.
Proof of ownership and payment of stamp duty and property taxes is required together
with a small fee of $25.00 for the registration process in order to receive a certificate
of registration.
Acquiring property in
The Bahamas is not subject to any permits unless a foreigner intends to
become the owner of five (5) or more contiguous acres of unimproved land or property
or any interest therein by way of freehold or leasehold.
Foreigners owning properties
in The Bahamas may apply to the Director of Immigration for an annual home owner’s
residence card. Although this pass does not confer resident status, the owner, spouse
and dependent children are entitled to enter and remain in the country for the duration
of the validity of the card. The cost of the annual pass is $500.00 not including the
application fees of $50.00.
Buying Property in The Bahamas
Real Estate Transactions
Real Estate Taxes
Government Links:
All information stated above is subject to changes without further notice. Please refer to the official Bahamian Government website for the current status on stamp taxes, real property taxes and fees and regulations pertaining the International Persons Landhold Act.
Discover the
thrills of deep sea fishing with a guided tour by the Stella Maris Resort Club.
Or hire Docky, one of
the best bonefish guides in The Bahamas.
Are you Interested in scuba diving?
The Stella Maris Resort Club is offering exiting dives for all experience levels.
You will receive training, instructions and your first dive; all supervised by a certified
dive master of the Stella Maris Resort Club.
Real Estate Transactions:
All real estate transactions are subject to government
stamp tax which is due and payable on the date of the property conveyance or
realty transfer in order to have the new ownership registered. The calculation
of the stamp tax is based on the value of the property which is not always the
sales price.
Stamp duty is 2% on the transfer value up to $20,000, 4% thereafter
up to $50,000, 6% thereafter up to $100,000, 8% thereafter up to $250,000 and
10% on values higher than $250,000.
Usually, seller and buyer each pay half of
the stamp duty while the recording is covered by the buyer. Law firms preparing
the paperwork for the transaction are charging a fee of approximatively 2½% of
the sales price to each the buyer and the seller. Sales commissions to real
estate agents are usually paid by the seller unless otherwise agreed upon
Real Property Taxes:
Real property taxes are charged annually based on the
assessed property value. The current status of the property (owner-occupied,
rentals and commercial or unimproved land) determines the rate. Owner-occupied
properties up to a value of $250,000 are exempt of taxes. Thereafter, ¾% are
charged up to a property value of $500,000 and 1% on properties
valued higher than $500,000.
Unimproved land is taxed at an annual rate of 1%,
respectively 1½% of a value above $100,000. Any other property is taxed at 1%
increasing to 2% for property values higher than $500,000.