New York City’s financial district is moving to Miami. With the appeal of lower taxes, cost of living, gorgeous weather, beaches, and a number of other advantages that south Florida has over the icy Northeast, it’s no wonder that Miami is booming with finance and business.
It’s no accident that Miami has become the second largest financial hub in the United States, right behind Manhattan. The city has a very finance-friendly atmosphere, and the Miami Downtown Development Authority is working hard to attract more bankers and business people.
So what sets Miami apart from anywhere else in the world? Let’s take a closer look at some of the city’s many attributes.
Lower Taxes Mean Better Profits
Florida doesn’t have any capital gains taxes, individual income taxes, or estate taxes. That means, when you do business in Florida, you keep more of the money that you earn.
When hedge funds are based in Florida, they can expect to pay a significantly lower tax rate, as they’ll only have to pay the federal government, rather than both state and federal, in these areas.
More Space to Stretch Out
Everyone knows that real estate prices in New York City are at a premium everywhere you go. In Miami, investors and business people can afford spacious condos or houses that are close to both work and play. In addition to this, Miami’s cost of living is a full 10 % lower than the cost of living in New York.
Don’t Forget the Weather
While everyone on Wall Street is bundled up in layers upon layers for six months out of the year, in southern Florida, the weather is almost always sunny and perfect. The average temperature for the area, all year round, is a balmy and comfortable 76 degrees.
Luxury Galore to Impress Clients and Investors
If you’re looking for a place to take your clients and investors to impress them, you’ll have all kinds of options. Miami is packed with the hottest nightclubs in the country and the best five-star restaurants in the world. Better yet, the city boasts the largest port in the world.
Contact us today to hear about and view all the currently available commercial and residential properties in Miami.
READ MORE at the Sunny Isles Miami Real Estate Blog
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