Frequently Ask Question | FAQ – Bahamas, Eleuthera, Cotton Bay Luxury Homes Real Estate Property.

Below are answers to General, Estate Home Site and Villa Purchases.

GENERAL INFORMATION

Where is the nearest airport?
Rock Sound International Airport is 15 minutes from Cotton Bay by car. Governor’s Harbour International Airport is 45 minutes away by car.

How far is Eleuthera from Miami and Nassau?
Eleuthera is one of Family Islands of The Bahamas. It is located 220 miles ESE of Miami, approximately a 70-minute flight; it is 60 miles east of Nassau, the capital, which is a 20-minute flight from Cotton Bay. Eleuthera is 103 miles long, averages one-mile wide and its population is 10,000.

How do I get there?
From Nassau, connect with Bahamasair and Southern Air, which flies directly into Rock Sound. From Fort Lauderdale into Rock Sound, Twin Air Charters flies direct daily.

Continental Gulf Stream and American Eagle offer direct daily flights from Fort Lauderdale to Governor’s Harbour International Airport. Governor’s Harbour International Airport is a 45 minute drive from Cotton Bay.

What is the climate of Eleuthera?
On Eleuthera, the average annual temperature is 77° F. Winter temperature ranges from approximately 67°F to 78°F, and summer temperature ranges from 80°F to 90°F. The annual average rainfall estimate is 76 inches.

What is the primary language spoken on Eleuthera?
English.

As a visitor what can be the duration of my stay?
Non-Bahamian residents can stay up to eight months, with proper documents, including a return ticket and evidence of financial support.

Is it easy to repatriate the proceeds from the sale of my property?
Yes.

Is there an annual property tax?
No. Once the estate home is made available for part of the rental program for nine months of the year, there is no annual property tax for a period of 20 years. If the estate home is removed from the rental program, the property will become eligible for property tax from the date of its exclusion from the rental program. For property tax rates where the home is owner occupied, please refer to Estate Lot Purchase and Ownership materials.

In what currency are payments made?
Payments are made in Bahamian or U.S. dollars at parity of exchange.

Can I finance the purchase of a property?
Yes, there are several institutions in The Bahamas which provide financing. Please ask us for details.

If I buy an estate lot, when will I need to start construction?
Construction must start within three years of close of escrow.

How much time will I have to complete the construction?
Construction must be completed within five years of close of escrow.

Can I buy more than one lot on which to build a home?
Yes.

Are television, internet, private phones and fax lines available?
Yes.

Are the properties at Cotton Bay Estates freehold?
Yes.

Will the roads be lit at night?
Yes. Roads will be lit with low-level unobtrusive lighting.

WHAT ARE THE BENEFITS OF OWNERSHIP

The Bahamas is an English speaking country with a history of stable governance.
The Bahamian dollar is on par with the U.S. dollar.
Tax incentives: The Bahamas is a tax-benevolent country. There are no taxes on income, capital gains, inheritance, profit remittance, corporate, royalties, sales, personal income, dividends, payroll or interest.
Accelerated consideration of applications for annual or permanent resident status for owners of residences valued at more than $500,000. In addition, an annual homeowner’s card is available for all non-Bahamian owners of residences. This card eases immigration formalities and facilitates entry at all Bahamian ports of entry and entitles the homeowner, his/her spouse and minor children to enter and remain in The Bahamas for the duration of the validity of the card.

In respect to home ownership at Cotton Bay Estates, some benefits include:

24-hour gated community that offers a myriad of luxury amenities and services, both on land and at sea. Cotton Bay offers swimming and snorkeling around exquisite reefs, yachting, game fishing, tennis, walking trails, hiking and off-road biking.
Professional property management eliminates the concerns of home ownership in another country.
Construction management services are available to assist in the design and building of custom homes through our Builder Program.
Preferred mooring of homeowner yachts at Cotton Bay’s private marina, Davis Harbour, where charter boats, fishing guides and associated services are available.
The Rock Sound International Airport is 15 minutes from the Cotton Bay.
If you choose to place your home in the rental program for a minimum of nine months per year, there is an exemption from the payment of customs duties on building materials, as well an exemption from real property taxes for a period of 20 years.