Learn why you should live or retire in the Bahamas
The Bahamas is known by most of the travelers as a wonderful destination for cruise vacations. However, the coral-based archipelago is much more than that. This beautiful place is bestowed with some of the most beautiful white-sand beaches. The Bahamas is also one of the few countries where you can find clearest water bodies, which are pure bliss for the eyes of an explorer. It is a great destination for expatriates to live in Bahamas!
The Bahamas comprises more than 700 islands in total, and even though it may not be possible to visit them all, each of these islands has something unique to offer. Over the years, several people from around the world have come to appreciate the true, natural beauty of the country for what it is. Retirees from the United States and all around the world especially find the pleasant terrain, weather, and peaceful beaches suited best to their preferences.
If you are planning to make a move to the Bahamas for pleasure, work or retirement, you are going to be in for a treat.
Here are the top 6 reasons that make the Bahamas a prime destination for expats:
1. The Weather
Being an archipelago, the country is blessed to have a wonderful climate where the weather stays a bit warm all through the year. That is just about perfect for anyone who wants to spend an entire day at a beach. Since the climate is subtropical, it’s also possible to get some rain now and then, which itself feels quite pleasant. If you have always dreaded winters back home, that is something you won’t have to worry about anymore in the Bahamas.
2. Lower Taxes
One of the best things about the beautiful archipelago is that it has one of the lowest tax rates in the world. The only taxes (minimal) that are charged here are the regular ones, such as payroll tax and property tax. There is no income tax, or sales tax, or capital gains tax, which can cut deep into your earnings. There is no tax charged on foreign ownership of a real estate property too. Note that with low taxes, expatriates will have to purchase global health insurance coverage.
Lower taxes give the settlers a bit of respite from the otherwise high prices for everything. Most of this is because almost everything has to be imported from other countries, and kept fresh and clean for a long time. But that’s still manageable, considering that you get to stay in one of the most beautiful places on earth and pay just a bit more to secure that. You can learn more about moving to the island via the Bahamas official visa site.
3. Real Estate Opportunities
The Bahamas is just the country you can call as a real estate paradise. While it’s not easy to buy your citizenship through investment, there is no stopping you from becoming the owner of a property in the Bahamas. The real estate itself is very costly, though. But that still hasn’t stopped people from buying their dream homes over here all these years. Picture yourself as the owner of a beautiful estate in an island country, and that’s some sight to remember, right?
4. Local Culture
Those who love learning about new cultures can’t be happier when they move to the Bahamas. The country is loaded with a mix of vibrant cultures of the Caribbean, the African roots, and the European mix that has happened over the years. The result of such a diverse culture is easily visible through the local art, the language of the country, the cuisines that are served only in the Bahamas, the amazing music, and even the lifestyle of all the residents. You just cannot ask for anything better!
5. Majestic Settings for Recreational Activities
When you are visiting the Bahamas, you are setting your foot on one of the most beautiful places on the face of this earth. Of course, there are mesmerizing beaches that are a treat for the eyes. There are all other kinds of beach activities as well, including sports fishing, snorkeling, and even Scuba diving, besides kayaking, sailing, boat excursions, and more. If you are an activity person, you can indulge in all such activities that are quite fun and exciting. If you prefer a more laid-back arrangement, that’s also there in the store for you here in the archipelago.
6. Freedom to Live Your Way
Another amazing aspect of the Bahamas that makes it heavenly for its foreign residents and retirees is that it gives people the freedom to live in their own way. They can opt to buy a property here or live on rent, as they like it. They can also make their plans for the day, and live their life their way. Unlike the fast-paced lives of the west, Bahamas is a pretty much peaceful country, so even those who like lying back for a while can have a great life here. Note that crime in Nassau is quite high, so keep this in mind when visiting or living in the city center.
Importance of International Health Insurance
There are sufficient reasons why the Bahamas can be your dream destination; however, like everywhere else, you must get a good health insurance plan before deciding to move. The country does not have a healthcare system for either its residents or settlers, even though it has some really good hospitals. Despite that, it’s ideal to have international health insurance since that secures you to a certain extent from various kinds of financial constraints and ensures that you always get the best treatment, even if that means moving you out to another country. Of course, most of the related costs are taken care of by the insurance company you signed up with.