Bahamas Parliament
Lifts Import Duties

The Bahamian Parliament has passed the Family Islands Development Encouragement Act of 2008. This will save up to 42% on imported house building materials going to select islands.

Oceanfront home built on short pilings with 360° views. Andros Island, Bahamas

Oceanfront home built on short pilings with 360° views.
[Andros Island, Bahamas]

In a move designed to generate commerce and improve the economic base of the country through construction and development, the Bahamian Parliament voted in late June to repeal the Economic Development Enterprises Act of 2007, and replace it with new legislation promoting development in select Islands throughout the Bahamas. These Islands include: Andros, Cat Island, San Salvador, Long Island, Rum Cay, Sweetings and Water Cays (Grand Bahamas), Grand Cay and Moores Island (Abaco), Crooked Island, Long Cay, Acklins, Ragged Island and Cays, Mayaguana and Inagua.

Combination Pedestal and two-story design. Cat Cay, Bahamas

Combination Pedestal and two-story design.
[Cat Cay, Bahamas]

This Act effectively eliminates import duty to the select Islands, which was previously as much as 35%, plus the 7% Bahamian Stamp, for a total concession of 42%.

This legislation should encourage many land owners who have been priced out of the market to reconsider building on their property. It is anticipated that savings at this level will stimulate those wishing to build, and cause an immediate spike in construction activity in these Islands.

Topsider Homes has been shipping home packages to the Bahamas since the early 1970s.

If you own property on any of the Islands affected by this legislation, now is an excellent time to seriously consider getting started. Not only will builders become increasingly scarce as construction activity grows, but building materials prices in the US and abroad are expected to continue to increase, as the dollar devalues, oil prices rise and competition for resources grows globally. Topsider Homes offers in-house design and architecture, builder recruiting and coordination services, and full procurement and logistical services - and has been doing so for decades.

Remote offload of a topsider home.

With over 40 years of experience, shipping to remote areas worldwide is one of Topsider's specialties.

Topsider Homes has developed many resort areas within the Caribbean, including this elegant complex located on Treasure Cay, Bahamas.

Guests enjoy spectacular ocean views and a tropical paradise setting in this Bahamas resort, located directly on the beach.

To learn more about this Click HERE for contact information.

We are also open evenings and weekends for your convenience.

 
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