Owning A Piece Of Paradise
An Island Home
Non-Bahamians may acquire residential properties in The Bahamas of up to two acres without prior Government approval. Such acquisitions are required to be registered in accordance with the International Persons Landholding Act.
Underscoring the new attitude towards investors, the Government repealed the Immovable Property Act which required prior approval for the purchase, transfer or inheritance of real property by non-Bahamians. It has been replaced by the International Persons Landholding Act, 1993. The new act considerably eases the process of foreign ownership of homes and real estate.
A homeowner's card is available to all non-Bahamian owners of residences. The card facilitates immigration formalities at all Bahamian ports of entry and entitles the homeowner, his/her spouse and minor children to enter and remain in The Bahamas for the duration of the validity of the card.
The Government has also adopted an accommodating stance on the granting of residency permits to non-Bahamian investors and homeowners. Major international investors and owners of residences valued at $1.5 million or more are accorded accelerated consideration for annual or permanent residency permits.