When it comes to investment properties, Bahamas depends on tourism to survive
When it comes to investment properties, Bahamas has a range of things you need to consider, including BMV Property, Buy to Let, Condo Hotel Investments, Fractional Ownership, Off Plan Property, Renovation Property, Repossessions, Repossession Property, Cape Verde Property Investment and even Investment Property Spain.
One of the most prosperous countries in the Caribbean, the Bahamas depends on tourism to generate more economic activity, particularly on Condo hotel investments. Tourism as an industry not only represents more than 60 per cent of GDP in the Bahamas, but provides jobs for more than half of its workforce. After tourism, and buy to let holiday homes, the second largest economic sector is financial services, which represent about 15 percent of GDP.
The economy has a competitive tax system. The government gets its revenues from import duties, license fees, property and excise taxes – including fractional ownership property – but there is no tax, corporation tax, capital gains tax, tax (VAT), or wealth tax. Payroll taxes finance social services. In recent years, total tax revenue as a percentage of GDP, 21.8 percent. The authorities are trying to increase tax compliance and collection in the wake of the global crisis. Inflation was moderate, with an average of 3.7 percent between 2006 and 2008.