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Q: How are closings handled on a property in the Bahamas?
A: Closings are conducted by attorneys. Ownership of residential property is in the form of a mortgage (similar to United States deed of trust). Title insurance is similar to that of the United States as well.
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Q: Can a non-Bahamian purchase real estate in the Bahamas?
A: Yes. Under the International Persons Landholding Act, 1993, all alien land holdings must be registered. With an annual fee, individuals purchasing in the Bahamas are entitled to a Home Owner Resident Card which allows unlimited entry into the country for the duration of the card.
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Q: Are there any fees as part of the purchase process of The Palms at Three Sisters?
A: No. Once your deposit is accepted, a qualified agent of Three Sisters will handle the purchasing process (at no cost to you), similar to purchasing in the United States.
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Q: What is the local language in the Bahamas?
A: Citizens speak English.
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Q: What is the currency and valuation?
A: The Bahamian dollar which is on par with the United States dollar (B$1 = $1)
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Q: What is the strength of the Bahamas economy?
A: Tourism is the #1 industry followed by the Financial Services industry
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Q: Are there any investment benefits in the Bahamas?
A: Yes. No capital gains tax, corporate earnings tax, income tax or inheritance tax (always consult with your attorney &/or accountant for more information).
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Q: How far away is Great Exuma from the United States, United Kingdom & Nassau?
A: Only 90 minute flight from Florida, 9 hours from United Kingdom & 30 minutes from Nassau. There are several commercial flights daily from multiple carriers as well as private aircrafts.
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Q: What is the weather like in Great Exuma?
A: Average temperature is 78°F (26°C). Trade winds keep temperatures very pleasant year round.
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Q: Is Great Exuma a safe location to live and purchase on?
A: The United States has a Blackhawk helicopter base located on Exuma which is within the American Security Zone.
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Q: What is the history of hurricanes in Exuma?
A: According to historical records (http://stormcarib.com/climatology/MYEG_all_isl.htm) Exuma has not been hit by a category 5 hurricane since 1928. However, being in tropical waters there is no way to predict the future weather. An early evacuation process is in place should necessity require it.
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Q: What is the government of the Bahamas?
A: English common law jurisdiction. Democratic government, independent since 1973. Part of the British crown for over 300 years before independence.
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Q: Who invests in the Exumas?
A: Many celebrities and high profile/net worth individuals have already invested in property &/or purchased other islands in the Exumas, increasing the exposure & demand of the islands.
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