If you are a Canadian and not sure of the tax benefits of investing in Bahamas real estate then you need to read this article as it shares the tax benefits for Canadian investing in real estate in the Bahamas.
There is no question that the Bahamas is a welcoming place for Canadians from:-
its proximity to most Canadian cities,
incredible weather,
similar legal system, based on British Common Law as both countries are members of the British Commonwealth
familiar financial environment as three of the five largest Canadian banks, Royal Bank of Canada (RBC), Bank of Nova Scotia and Canadian Imperial Bank of Canada (CIBC), now FirstCaribbean International Bank (FCIBC) are in the Bahamas.
All making owing property in the Bahamas an inviting proposition. But wait there is more as there are three significant Bahamas real estate tax benefits that Canadians enjoys, according to Tom Olson a Tax Attorney with Olson Lemons LLP a Calgary based law firm, when you purchase real estate in the Bahamas
Tom explain these three tax benefits areas as being:
Tax Residence
Conducting business outside of Canada
Selling a business in Canada
Resulting in Canadians getting enormous tax breaks and seeing their tax reduced from as much as 45% down to a little as 10-15% making it possible for Canadians to purchase real estate property in the Bahamas with the tax savings alone in a relatively short period of time.