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Development projects in the Bahamas are often tedious but also rewarding both financially and as economic boosts to the islands’ small economies. Projects can range in size and scope from a small eco-lodge to a residential subdivision to a resort community. At Island Living we offer the services to help you through the process with the least amount of time and expense. Developments that our brokers currently are or have in the past developed, marketed or consulted on include: - Ocean Club Estates, Paradise Island
- Dick’s Point Close, Nassau
- Town Centre Mall
- Vista Marina, Nassau
- Mount Vernon, Nassau
- Blair Estates
- Montagu Villas, Nassau
- East Street South, Nassau
- Royal Valley, Nassau
- St. Georges, Rum Cay
- Great Guana Resort & Marina, Exuma
From the initial site selection to the project launch, we help you through the permitting and approval process. We also work with you to identify your target markets, brand identity and a strategic marketing approach to achieve your project goals. There are many benefits available to you such as the Hotels Encouragement Act. We provide you with the details to obtain these benefits. We also assist you with processes such as the Procedure For The Approval Of Subdivisions & Developments. For more information please contact one of our development brokers. Benefits Available to Investors under the Hotel Encouragement Act
- Customs Duty Exemption from payment of customs duties in respect of all materials necessary for the construction, equipping and furnishing of a new hotel in order to allow the facility to open for business. These concessions are also offered for the rehabilitating reequipping and extending of a hotel operation, or one that was not constructed under the Act.
- Right to Import Construction Plant The right to import the construction plant, including heavy duty machinery, free of duty on a Customs bond, with the obligation to re-export it by a given date.
- Tax Exemptions - A ten-year exemption from Real Property Tax with a minimum taxation per bedroom of $20.00 beginning in the eleventh year until a twenty year period occurs from the date that the hotel opened. - A twenty year exemption from direct taxation on hotel earnings.
- Other - The same restrictions, regulations or conditions which are applied to one hotel will be applied similarly to other hotels. - All other matters regarding type of hotel and location must meet the requirements of the Government.
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