NASSAU, BAHAMAS- Word that government officials in the United Kingdom are mulling over a major tax restructuring has some of the country's wealthy citizens considering locating their funds and investments offshore, and many a Bahamas Realtor touting the benefits of Bahamas real estate investments.

For that reason, Island Living Real Estate, an agency that represents owners of Bahamas homes for sale, as well as buyers in search of Bahamas investment property opportunities, has compiled a list of the benefits to UK citizens in investing in Nassau, Bahamas rental properties, said Rachel Pinder, principle broker of Island Living Real Estate.

Financial and legal experts point to the financial troubles effecting Spain, Portugal, Greece and Ireland as evidence that the UK has to reform the way it does things, said Island Living Sales Agent Heather Carey. She identified a Dec. 1 article by Epoch Times Staff Writer Peter Simmons as evidence that sweeping changes appear imminent.

The article stated that the UK public sector is slated to cut about 330,000 jobs in the near future.

"There are lots of tax reform proposals being discussed, but nothing has passed as of yet," Carey said. "But it looks as though reform could be on the horizon."

So, what does all of this have to do with real estate in the Bahamas?

"We are poised to assist UK investors who, in anticipation of proposed tax reforms in their country, are looking to make wise investments in the Bahamas," Pinder said. "In the past, many UK citizens have invested in real estate in Spain and Portugal, but today those countries face serious debt problems."

Investors also aren't interested in United States opportunities these days because the housing market there is so bad, Pinder said, adding that the Bahamas always have been an attractive investment spot, and it is getting increasingly more attractive.

Benefits of Investing in the Bahamas

There are numerous benefits for UK citizens who invest in real estate in the Bahamas, Carey said.

For one, Bahamian law is based on the British legal system. The country also is politically and financially stable. It is a major financial center with more than 400 banks and trust companies.

A $500,000 investment creates a fast-track to permanent residency in the Bahamas. The island nation also levies no income or inheritance taxes, Pinder said. The government's main revenue sources are customs duties and company registration fees. The country has no taxes for sales, corporate or personal income, withholding, gifts, capital gains, inheritance or employment. There also are no probate fees in the Bahamas.

Properties in the Bahamas hold their value for a number of reasons, and English is a native language in the Bahamas, which provides a great source of comfort for English-speaking foreigners. Other pluses include year-round sunshine and warm weather, world class golf and fishing, some of the most beautiful beaches and clear waters in the world, and ethnic diversity.

About Island Living Real Estate

Island Living Real Estate has more than 25 years of experience in real estate sales and rentals throughout the Bahamas. Island Living's main office is located in one of Nassau's oldest historic buildings on Bay Street, named "Red Roofs." Red Roofs was built in 1896 and has been home to various families, a Gourmet Deli and now Island Living.

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