International Bahamas Real Estate Investors
International Bahamas Real Estate investors will find that it has never been easier as an international real estate buyer to buy Bahamas real estate and make the Bahamas your primary or secondary home. And this page helps you answer the questions you may have about property permits and residency status.
While Bahamas Luxury Real Estate try to be as complete as we can with the information we provide, this does not mean that you may not have questions.
Bahamas Real Estate Property Permits and Registration
The 1993 International Persons Landholding Act has considerably eased the burden and process of foreign ownership of homes and real estate, as prior Government approval is not required for non-Bahamians to purchase residential properties of less than five acres.Such acquisitions are, however, required to be registered with the Investment Board and The Central Bank of The Bahamas after the conveyancing of the property and a Permit will subsequently be issued.
Permission to purchase property is required if the freehold or leasehold property is undeveloped land of five or more contiguous acres, or not single-family or not to be used as single-family (i.e. commercial, industrial, resort, hotel or investment property).
The issuing of the Permit serves as the Government’s assurance that should the investor wish to sell the property, the proceeds of the sale can be repatriated.
International Bahamas Real Estate Investors video
Bahamas Residency Status
The Bahamian Government has also adopted an accommodating position on the granting of residency permits to non-Bahamian investors and homeowners.
Major international investors and owners of residences valued in excess of $500,000 are offered accelerated consideration for annual or permanent residency permits.
A Home Owners Residence Card is available to all non-Bahamian owners of residences, to facilitate the immigration formalities at all Bahamian ports of entry. This card entitles the homeowner, and the homeowner’s spouse and minor children to enter and remain in The Bahamas for the duration of the validity of the card and is renewable annually. It does not, however, confer residency status.
The other, more desirable, option is to apply for permanent residency status, which does confer residency status and does not have to be renewed annually.