WHO IS THE OPERATOR OF PINK SANDS RESORT? The Resort is operated by Orchestra Hotels + Resorts which is headquartered in Fort Lauderdale. The owners of the Pinks Sands also own he Hilton Fort Lauderdale Beach Resort, developed The Conrad Fort Lauderdale Beach and have ownership stakes in all The Four Seasons properties in South Florida.
IN WHAT FORM IS TITLE TO THE PROPERTIES AT PINK SANDS GIVEN? The properties at Pink Sands have freehold title and a Title Insurance policy will be available to each purchaser.
WHAT ARE THE CLOSING COSTS? On all real estate transactions in the Bahamas, the Government levies a Value Added Tax which is split equally between the buyer and seller. The rate of VAT is 10% on the first $2M of value and 12% on the portion of value above $2M. In addition to the VAT, Purchasers are responsible for their own legal fees.
HOW MUCH ARE ANNUAL PROPERTY TAXES? Pursuant to the Hotel Encouragement Act of The Bahamas, properties in the Villa Rental Program at Pink Sands enjoy a concessionary annual property tax rate of $100.
HOW DOES THE VILLA RENTAL PROGRAM WORK? The Resort will manage the Villa Rental Program and the Gross Revenue derived from the rental of each Villa will be distributed as follows: 15% will come off the top for Travel Agent and booking fees. Another 5% will go into a Reserve Fund for the Villa. The Reserve Fund is used to replace furnishings, equipment and appliances that become damaged or worn through use. The remaining rental revenue will be shared equally (50/50) between the Villa Owner and The Resort. For more details, please inquire with one of our representatives.
As per the Hotel Encouragement Act of the Bahamas, in order to qualify for the concessions granted in the Act, the Villa must be available to the rental program for 270 days per year – which leaves 90 days per year for owner occupancy. The Pink Sands Rental Program provides for 45 days of owner occupancy in the Winter Season (December 15 th – May 14 th ) and 45 days of owner occupancy in the Summer Season (May 15 th – December 14 th ).
CAN I PURCHASE IN THE NAME OF A COMPANY? Yes. Title can be taken in the name of a company, trust or personal name.
CAN I GET RESIDENCY STATUS IN THE BAHAMAS BY PURCHASING A VILLA AT THE PINKS SANDS? Purchasing a property in the Bahamas, will allow you to obtain a Homeowner’s Card which enables you to enter the Bahamas and remain as you lease. Additionally, anyone who purchases property in the Bahamas, valued at $750,000 or greater, can apply for Permanent Residency status which can potentially provide significant tax advantages in your home country. (Please speak with a tax professional in your home jurisdiction).
WHAT ARE THE COMMUNITY MAINTENANCE CHARGES AT THE PINK SANDS? The Maintenance Charges for each Pink Sands Villa are based on sq. footage. Please ask one of our sales representatives for the charges related to a specific villa.
The maintenance charge will include:
Maintenance of all common areas – roads, landscaping, lighting etc.
External maintenance of Villa – painting, decks etc.
Extermination & Rubbish Collection
Landscaping of Villa & Pool Cleaning
On-call Maintenance Service
Bill Payment and Administration
Utilities: Electricity, Propane Gas, Cable TV, Water
Taxes (currently $100 per year while in the rental pool)
Our goal is for any visit to your residence at Pink Sands to be as care free as possible. We have a complete team of well-trained in-residence housekeepers and service providers, such as, plumbers, A/C technicians, electricians, pool & general maintenance, irrigation and landscaping specialists. We provide all the necessary services to ensure your Villa is in the condition expected, and all necessary arrangements have been attended and personalized to you and your Villa’s specific needs. For more information, please ask one of our representatives for our Property Management and Concierge documents.