Development OpportunitiesOverview of the available residential & commercial land tracts.
Joint venture opportunities exist and tracts of land are available for sale to experienced and well-funded Investors, who are interested in developing projects in accordance with Devco’s overall master plan. Land is currently available for residential, commercial and touristic use. All land is sold on a Freehold basis and is subject to the payment of a service charge, which is used to fund city maintenance.
Devco's portfolio comprises world-class beach and canal front development sites located on the south shore of Grand Bahama, each with direct and easy access to the Grand Bahama International Airport.
Foreign Investors are required to obtain a Business License from The Grand Bahama Port Authority, Limited (GBPA) and approval from the Bahamas Investment Authority. This process is well regulated and easily understood.
Licensees of the GBPA are entitled to exemption from the payment of certain customs duties, excise taxes, export taxes and taxes on the repatriation of business funds until the year 2054. Licensees may make application for additional concessions including exemption from payment of Government Property Taxes for such period as determined by the Investments Board. However, land sales are subject to a Government Stamp Tax, which is graduated in accordance with the value of the property. Neither individuals nor corporations resident in the Bahamas are required to pay, corporation tax or death duties.
Devco’s tourist and retail commercial zoned lands are master planned to accommodate specific development projects based on its type, land size requirements and value of investment. This category of property carries a mandatory development commitment. A written expression of interest should be submitted to Devco’s offices, outlining:
- Project scope
- Land size requirement
- Value of investment
- Evidence of resources
- Target market
- Principal investor(s) and relevant experience