A Beachfront Development in Nassau Is Now the First to Accept and Embrace Digital Currencies for Real Estate Purchases
The Residences at Goldwynn, a sophisticated luxury beachfront condominium and resort development at Cable Beach in The Bahamas, has announced that they are now accepting multiple digital currencies for real estate purchases. This, according to a press release shared with BTCManager, November 14, 2019.
One Step Toward Pushing Cryptocurrencies to the Mainstream
Matthew Marco, Director of Sales and Marketing for Wynn Development, said:
“The Bahamas is the chosen home and playground of the world’s top business executives, elite athletes, and Hollywood celebrities.“
“With Goldwynn, we are making paradise more accessible than ever before by embracing new technology and accepting all major digital currencies. We want to enable purchasers who hold a large portion of their wealth in digital currencies to deploy their capital, and we are very comfortable with the asset class.”
Wynn Vice President Randy Hart explained the appeal. He said:
“There is something magical about the digital asset community. Digital currencies can be used to pay for an increasing amount of ‘real world’ things. This project is one step toward efforts to push Bitcoin and other digital currencies into the mainstream.”
As with standard fiat transactions, Anti-Money Laundering and Know Your Customer screenings are part of the procedures in place to determine the source of funds that are paying for a property.
About The Bahamas – Permanent Residency and Tax-Free Benefits
The Bahamas also offers an ideal domicile for the management of personal wealth. Accelerated consideration for Permanent Residency is given to major investors and owners of upscale Bahamian property valued above $750,000.00 such as those offered within Goldwynn. Experienced consultants are available to ensure the best representation and fast-tracked approval of a purchaser’s application.
The Bahamas is well respected in the international financial community for having a secure investment environment based on long-standing parliamentary democracy, rule of constitutional and English common laws where regard for real property rights is guaranteed. As one of the world’s premier international financial centers, it also boasts a robust and well regulated financial services industry with a cadre of highly qualified professionals.
There are not many jurisdictions that offer the tax benefits comparable to those of The Bahamas. There are only a few things on which you pay taxes in The Bahamas. Capital gains, corporate earnings, personal income, inheritance, and dividends are all tax-free. This applies not only to individuals, but also to all resident corporations, partnerships, and trusts. Tax advantages do not require that Bahamian residents remain in The Bahamas for any specific length of time in a given year, making it one of the most attractive residency jurisdictions.
About The Residences at Goldwynn
Currently under-construction, Goldwynn, is a six-storey 160 unit boutique condo-hotel suites and private residences located just along the shoreline from Rosewood Resort and Baha Mar in the heart of Cable Beach. With clean lines, extensive use of glass, large balconies and amenities that include several infinity pools, fitness centre, restaurant, theatre, art-deco bar, security, garage parking and concierge services, it is the latest in a series of residential developments by Wynn Development and the first in which the developer is delving into the digital asset space.
Sunset view of Beachfront exposure with Baha Mar Resort in the background. Goldwynn Resort and Residences is the first Real Estate Development in The Bahamas to fully accept cryptocurrency.
Rendering, Lobby entrance at Goldwynn Resort and Residences, the latest in a series of real estate developments by Wynn Development and the first in The Bahamas to accept cryptocurrency.