Am I Required to Register My Bahamas Real Estate Property Purchase?
Here are your answers to another of the Bahamas Real Estate 10 Frequently Asked Questions About Buying Bahamas Real Estate, Am I Required to Register My Bahamas Real Estate Property Purchase?
Question#2 -Am I Required to Register My Bahamas Real Estate Property Purchase?
Although the International Persons Landholding Act, 1993 allows you to purchase Bahamas real estate without a permit once the property being purchased:
- Is to be used by you for a single family residence and
- You do not intends to rent out a portion or all of the property.
- Is less than 5 acres and
- Not used for a commercial development.
You are required to register your Bahamas real estate property investment with the Bahamas Investment Authority’s Foreign Investment Board in the office of the Prime Minister.
You should also register your Bahamas real estate purchase with the Exchange Control Department at the Central Bank of The Bahamas as this will allow you to be able to repatriate the proceeds in the currency of your original investment should you choose to sell your property in the Bahamas.
Feel free to email me at firstname.lastname@example.org with your questions about buying real estate in the Bahamas and do not forget to leave me your comment.