Bahamas Invest Magazine - Issue 01

Healthcare Without Borders: The Bahamas’ Growing Medical Infrastructure

Top Reasons to Invest in The Bahamas: Real Estate Opportunities for Foreign Investors

Welcome to the inaugural issue of Bahamas Invest! It is with great excitement that we introduce this digital platform dedicated to showcasing the unparalleled opportunities that The Bahamas offers to investors worldwide.

This magazine is more than a publication—it is a gateway to understanding the potential, diversity, and richness of our islands. The Bahamas has long been recognized as a premier destination for its pristine beaches and vibrant culture. However, it is also a dynamic hub for investment, offering a stable economy, business-friendly policies, and thriving industries such as tourism, financial services, real estate, and more.

At Bahamas Invest, we aim to connect affluent and discerning investors with the wealth of possibilities available here. This issue provides a comprehensive look at what makes The Bahamas an exceptional place to live, work, and invest. From insights into key sectors and emerging opportunities to features on relocating and living in The Bahamas, and the people who make these islands unique, we have curated content to inspire and inform. We also delve into areas earmarked for investment, providing an insider’s perspective on why The Bahamas continues to attract global interest.

As we embark on this journey, our mission is clear: to be your trusted resource for understanding the investment landscape in The Bahamas. Whether you are considering real estate, exploring new business ventures, or simply looking to experience the island life, Bahamas Invest is here to guide you every step of the way.

Thank you for joining us on this exciting venture. We look forward to connecting with you and being a part of your success story in The Bahamas. Use the QR Code on this page to subscribe to Bahamas Invest NOW!

Warm regards,

Kenred Dorsett

KENRED DORSETT, CIPS, CRB, J.P. Publisher, Bahamas Invest

Whether you are considering real estate, exploring new business ventures, or simply looking to experience the island life, Bahamas Invest is here to guide you every step of the way.

Freeport, Grand Bahama: The New Emerging Investment Haven of the Caribbean

Navigating Healthcare in The Bahamas: A Guide to the Islands’ Medical Services

The Bahamas: A Premier Destination for Family Wealth Management and Estate Planning

52

Navigating School Options: An Expatriate Guide

58 38 42 34

Luxury Living: A Private Island Perspective

Sol Kerzner: The Visionary Architect of Atlantis and Pioneer of Global Hospitality

Things To Know: Buying Real Estate

DISCLAIMER: Any articles included in this publication and/or opinions expressed herein do not necessarily reflect the views of Chancellors Corporate Services Ltd., but remain solely those of the author(s). The paid advertisements contained within the magazine are not endorsed or recommended by Chancellors Corporate Services Ltd., or the publisher. Therefore, neither Chancellors Corporate Services Ltd., nor the publisher may be held liable or responsible for business practices of these companies.

Publisher: Kenred Dorsett of Chancellors Corporate Services Ltd.

Copy Editor: Astranique Bowe

Design & Layout: Kemar Harris and Kaela Smith

The Bahamas

Location

The Bahamas is a 100,000-square-mile (258,998 square kilometers) archipelago in the Atlantic Ocean, consisting of approximately 700 islands and over 2,000 cays. It begins 50 miles (80 kilometers) off Florida’s east coast at Bimini and extends more than 500 miles (804 kilometers) southeast. Despite its large maritime area, the total landmass is 5,382 square miles (13,939 square kilometers).

Nassau, the nation’s capital, is located on New Providence Island and serves as the primary centre for governance, commerce, and tourism. Freeport and Lucaya, situated on Grand Bahama Island, form the second largest urban area, known for its industrial base and trade.

Due to its proximity to the U.S. and strategic position in the Atlantic, The Bahamas plays a vital role as a regional hub for tourism, trade, and investment. Its clear waters and abundant marine life further enhance its status as a premier destination for tourism and marine activities.

History

The Bahamas has a rich and fascinating history that dates back to 1492 when Christopher Columbus first landed on San Salvador, making it his initial destination in the New World. Over the next three centuries, the archipelago evolved into a crucial waypoint for explorers, adventurers, and maritime trade routes, owing to its strategic location. In 1717, The Bahamas was declared a British crown colony, marking the beginning of its colonial governance. Slavery, a significant aspect of its early economic system, was completely abolished in 1838. The mid-20th century saw political and social reforms, with limited self-rule being granted in 1964. Full independence was eventually achieved on July 10, 1973, a milestone that is now celebrated annually as Independence Day.

For investors, The Bahamas' historical ties with Britain and its long-standing political stability have shaped a favorable business environment. Its legal and financial systems, influenced by British common law, ensure investorfriendly policies and transparent governance. Additionally, its proximity to major markets and status as a tax-free jurisdiction make it an appealing destination for international investments in tourism, financial services, and real estate.

By John VanderlynArchitect of

Time Zone Economy Government

The Bahamas operates on Eastern Standard Time (EST), aligning with major cities such as New York, Boston, Miami, and Toronto. This shared time zone enhances its connectivity with key international markets in North America. The country also observes Daylight Saving Time (DST) from the second Sunday in March to the first Sunday in November, ensuring it remains synchronized with U.S. time changes.

When it is noon in Nassau, the corresponding times in other major global cities are as follows:

• London: 5:00 pm

• Geneva: 6:00 pm

• Mumbai: 9:30 pm

• Beijing: 1:00 am

The Bahamas operates under a parliamentary democracy modeled after the British Westminster system. The nation's political structure includes a Governor-General, who represents the British monarch as the ceremonial head of state; a Prime Minister serving as the head of government, and a bicameral Parliament comprising the Senate and the House of Assembly. The two dominant political parties are the Progressive Liberal Party (PLP) and the Free National Movement (FNM). As of 2024, the House of Assembly consists of 39 elected members.

Situated in the Atlantic Ocean, The Bahamas is an active member of the Caribbean Community (CARICOM). The nation’s economy is predominantly driven by tourism, which contributes approximately 75% to the Gross Domestic Product (GDP). Financial services also play a significant role, accounting for about 15% of GDP. The combined sectors of manufacturing and agriculture contribute less than 7% to the GDP. Additionally, The Bahamas possesses mineral resources such as salt and aragonite, which contribute to its economic landscape.

the Capitol, Public Domain

Population

Financial Services

According to the 2022 census, The Bahamas has a total population of 398,165, of which approximately 48% are males and 52% are females. The highest populated island is New Providence, home to 74.5% of the total population, or 296,732 residents. Grand Bahama accounts for 11.7% of the population with 46,740 residents, followed by Abaco with 16,695 residents, making up 4.2% of the total population.

The census recorded a total of 119,138 households across the archipelago, with an average household size of 3.3. The islands with the highest population growth include the Berry Islands, Bimini, and Acklins, while several islands, such as Mayaguana and Ragged Island, reported smaller populations. The data includes all persons residing in The Bahamas as of April 4, 2022, regardless of their legal status, as well as Bahamians living abroad for educational or diplomatic purposes.

The Bahamas stands as a leading offshore financial centre, attracting institutions from Canada, Switzerland, the United States, and other countries. The nation hosts around 270 licensed banks and trust companies, approximately 65 institutions licensed for fund administration, and about 130 entities licensed for broker-dealer and investment advisory services. A key attraction for international investors is The Bahamas' tax-neutral status, with no taxes levied on personal income, capital gains, corporate earnings, sales, inheritance, or dividends.

Real Estate

The Bahamian real estate market has shown dynamic activity in recent years. In 2024, there was a notable increase in new property listings, with some areas experiencing a surge of 200-300%, indicating a shift towards a more balanced market environment. Residential sales also saw significant growth, with a 67.11% year-on-year increase reported in the first half of 2024. Property prices have varied across regions; for instance, the average sale prices in Nassau and Paradise Island reached USD 1.89 million in Q2 2024, reflecting a 95% year-on-year increase. The luxury real estate sector continues to attract strong demand from international buyers, contributing to the market's robustness.

Looking ahead, experts predict continued growth in the luxury real estate sector, fueled by ongoing foreign investment and tourism resurgence. Key ongoing developments include highend projects such as the Ocean Club Four Seasons Residences on Paradise Island and Six Senses Residences in Grand Bahama.

Vital Indicators

GEOGRAPHY

Location: 60 miles off the coast of Florida Islands: 700 islands, over 2,000 cays, with 30 inhabited islands

Global Ship Registry Rank: 6th largest in the world

Number of Ports: 13 major seaports

TOURISM

Visitor Numbers: Over 10 million visitors in 2024, with expectations for higher numbers in 2025

Tourism Employment: Directly or indirectly employs 50% of the archipelago’s labor force.

BUSINESS ENVIRONMENT

Licensed Banks and Trust Companies: Over 270, including seven of the world’s top eight private banks and 35 of the top 100 global banks

Corporate Tax Rate: 0% on income, capital gains, corporate earnings, gifts, and succession taxes

Renewable Energy : Goal of 30% by 2030

ECONOMIC STRENGTH

GDP: $14 3 billion in 2023

GDP per capita: $35,896 5 in 2023, making The Bahamas the wealthiest Caribbean nation*

Primary Economic Sectors:

Tourism: 75-80% of GDP

Financial Services: 15% of GDP

REAL ESTATE MARKET

Foreign Ownership: No restrictions on foreign ownership of real estate

New Listings: Up by 200-300% in 2024

Residential Sales Growth: 67 11% year-on-year increase in 2024

Workforce & Education

Population: Estimated at 401,283 people as of 2024

Adult Literacy Rate: 95%

Technology Adoption: High internet penetration rate of 94% in 2021

Bahamas Government

Head of State & Cabinet Ministers

The Hon. Philip Edward Davis, M.P., J.P., KC

Prime Minister and Minister of Finance

The Hon. Frederick Audley Mitchell, M.P.

Minister of Foreign Affairs

Her Excellency The Most Honourable Dame Cynthia Alexandria Pratt, ON, GCMG, CB, CD, JP

Governor General of the Commonwealth of The Bahamas

The Hon. Glenys Margaret E. Hanna-Martin, M.P.

Minister of Education and Technical and Vocational Training

The Hon. Isaac Chester Cooper, M.P.

Deputy Prime Minister and Minister of Tourism, Investment and Aviation

The Hon. Alfred Michael Sears, M.P., KC

Minister of Immigration and National Insurance

Senator The Hon. Leo Ryan Pinder, KC

Attorney General and Minister of Legal Affairs

The Hon. Michael Ronald Darville, M.P.

Minister of Health and Wellness

Senator the Hon. Michael Brian Halkitis

Minister of Economic Affairs

The Hon. Keith Ricardo Bell, M.P.

Minister of Housing and Urban Renewal

The Hon. Clay Glennford Sweeting, M.P.

Minister of Works and Family Island Affairs

The Hon. Jobeth Lillian ColebyDavis, M.P.

Minister of Energy and Transport

The Hon. Wayne R. Munroe, M.P., KC

Minister of National Security

The Hon. Vaughn Peterson Miller, M.P.

Minister for the Environment and Natural Resources

The Hon. Mario Keith Bowleg, M.P.

Minister of Youth, Sports and Culture

The Hon. Ginger Maria Moxey, M.P.

Minister for Grand Bahama

The Hon. Jomo Chaka Campbell, M.P.

Minister of Agriculture and Marine Resources

The Hon. Pia Takita GloverRolle, M.P.

Minister of Labour and the Public Service

The Hon. Myles Kentworth LaRoda, M.P.

Minister of Social Services, Information and Broadcasting

The Hon. Lisa Tammy Rahming, M.P.

Minister of State in the Ministry of Housing and Urban Renewal

The Hon. Basil Walton McIntosh, M.P.

Minister of State for Aviation

The Governor General

The Governor General is the King’s representative in The Bahamas. In 1973, The Bahamas became fully independent. However, as a former British colony, it retained the head of the British Royal Family as its head of state. Though formally appointed by His Majesty, the Governor General, being appointed on the advice of the Prime Minister, is legally removable by the Prime Minister. The Governor General signs bills into law after they are passed by the House of Assembly and the Senate.

The Executive

The executive branch of the government consists of a Cabinet of at least nine members, including the Prime Minister and the Attorney General. The Prime Minister and the Minister of Finance must be members of the House of Assembly. Cabinet ministers and Ministers of State (junior ministers) are appointed from the House of Assembly, and up to three ministers can be appointed from among the senators.

The Legislature

The legislative branch is bicameral and consists of the Senate and the lower House of Assembly. They are physically located in Parliament Square on Bay Street in downtown Nassau. The House of Assembly, dating to 1729 is the most powerful branch of government. It makes the laws of The Bahamas. There are currently 39 elected members who serve five-year terms, unless the House is dissolved before that time by the Prime Minister.

The Hon. Zane Enrico Lightbourne, M.P.

Minister of State for the Environment

The Hon. Leon Lundy, M.P.

Minister of State with Responsibility for Disaster Risk Management

The Senate has 16 members. Nine are appointed by the Governor General on the advice of the Prime Minister, four on the advice of the Leader of the Opposition and three on the advice of the Prime Minister after consultation with the Leader of the Opposition.

Laws begin as a bill introduced to the House of Assembly. It is read three times, debated and, if passed, is sent to the Senate. The bill is read three times in the Senate, debated and, if passed, sent to the Governor General. Upon her or his signature the bill becomes law.

The Judiciary

An independent judiciary is provided for under the constitution of The Bahamas, along with the right of appeal to His Majesty’s Privy Council in England. Judges are appointed by the Governor General. Judicial departments include the Supreme Court, magistrate’s courts and His Majesty’s Privy Council. The Court of Appeal, is a separate entity and is the highest tribunal in the country.

Events around The Bahamas

Event Name Event Dates

Afternoon Tea At The Library

Sir Durward Knowles National Junior Sailing Championship

Nassau's Finest Sunday Brunch

Gospel Brunch at Café Martinique

Nassau's Finest Sunday Brunch

Smith's Point Fish Fry

Island Boyz Grill Out

Surf 'N' Turf Fridays at Lagoon Bar & Grill

Exuma Junkanoo Parade

Steventon, Harts, Roker's Point Homecoming and Regatta

The Bahamas Great Abaco Classic

Food & Craft Festival

Farmer's Cay Festival

Devour! The Beach.

Hope Town Songwriters Festival

Winter Residents Reception

Winter Residents Reception/People to People Tea Party

People-to-People Tea Party Bimini

Harvest Festival

Eleuthera Winter Residents Reception

International Square Reunion Reception

Jan 04, 2025 (Every Thursday - Saturday)

Jan 04, 2025 (Every Day)

Jan 05, 2025 (Every Sunday)

Jan 05, 2025 (Every Sunday)

Jan 05, 2025 (Every Sunday)

Jan 08, 2025 (Every Wednesday)

Jan 10, 2025 (Every Friday)

Jan 10, 2025 (Every Friday)

Jan 04, 2025

Jan 06, 2025

Jan 19 - 22, 2025

Feb 01, 2025

Feb 06, 2025

Feb 06 - 09, 2025

Feb 11 - 16, 2025

Feb 19, 2025

Feb 21, 2025

Feb 21, 2025

Mar 01 - 02, 2025

Mar 06, 2025

Mar 07, 2025

Event Name Event Dates

S.T.F. U Party

Nicholl's Town Music Arts & Craft Festival

Nassau Paradise Island Wine & Food Festival

Rock Sound Homecoming Music Festival

James Cistern Heritage Affair

Gateway Christian Academy Basketball Tournament

Lower Bogue Homecoming

Mastic Point Homecoming

Bimini Homecoming

Bimini Men for Christ March and Rally

The Shootout: Production vs Custom

Bahamas Powerboat Club Full Throttle Poker Run 2025

Junior Rugby International Tournament

Custom Shootout

Red Bays Snapper Tournament

Freetown Fire Hearth Food & Heritage Festival

Elbow Reef Classic

Walker's Cay Invitational

Deep Creek Conch Festival

Palmetto Point Homecoming

Grand Bahama Boating Fling

Ramsey Homecoming

36th Annual Pineapple Festival

Bimini Boating Fling

Crossing For the Cure (Pipers Angels)

Crossing For the Cure (Pipers Angels)

All Andros Crab Festival

Bimini Boating Fling

All Andros Crab Festival

Regattas in The Abacos

Bimini Boating Fling

Cheeseburger in Paradise

Bahamas Bonefishing Tournament Series - Grand Bahama

Abaco Extended Boating Fling

The Bluff Eleuthera Homecoming

Savannah Sound Homecoming

Behring Point Homecoming

Mar 08 - 20, 2025

Mar 08 - 09, 2025

Mar 12 - 16, 2025

Apr 14 - 21, 2025

Apr 16 - 21, 2025

Apr 16 - 19, 2025

Apr 16 - 21, 2025

Apr 17 - 19, 2025

Apr 18 - 20, 2025

Apr 18, 2025

Apr 30 - 03, 2025

May 03, 2025

May 12, 2025

May 14 - 17, 2025

May 15 - 17, 2025

May 20, 2025

May 21 - 24, 2025

May 21 - 24, 2025

Jun 04 - 09, 2025

Jun 04 - 09, 2025

Jun 05 - 08, 2025

Jun 06, 2025

Jun 06 - 07, 2025

Jun 12 - 15, 2025

Jun 18 - 20, 2025

Jun 18 - 20, 2025

Jun 19 - 21, 2025

Jun 19 - 22, 2025

Jun 19 - 21, 2025

Jun 22 - 28, 2025

Jun 26 - 29, 2025

Jul 02, 2025

Jul 08 - 13, 2025

Jul 09 - 19, 2025

Jul 09 - 13, 2025

Jul 09 - 13, 2025

Jul 10 - 11, 2025

Event Name

Event Dates

Haulers Fishing Festival

Behring Point Homecoming

All Andros and Berry Island

Bahamas Bonefishing Tournament SeriesSandy Point, Abaco

Bahamas Bonefishing Tournament Series –Black Point, Exuma

Bimini Boating Fling

Back to the Bay Festival

Bayfest

Rolleville Regatta & Homecoming

Native Fishing Tournament

Bannerman Town Festival

Cargill Creek Homecoming

High Rock Seafest

Glenda’s 56th Annual Road Race

Jul 10 - 14, 2025

Jul 10 - 11, 2025

Jul 10 - 12, 2025

Jul 15 - 20, 2025

Jul 22 - 27, 2025

Jul 24 - 27, 2025

Jul 31, 2025 - Aug 04, 2025

Jul 31, 2025 - Aug 04, 2025

Aug 01, 2025

Aug 01 - 03, 2025

Aug 01 - 02, 2025

Aug 04 - 05, 2025

Aug 05, 2025

Aug 07, 2025

Central Andros Goombay Summer Festival Aug 08 - 09, 2025

Bahamas Bonefishing Tournament Series - Behring Point, Andros Oct 07 - 12, 2025

Coppice Festival Oct 10 - 11, 2025

McClean's Town Conch Cracking Festival Oct 14, 2025

Bahamas Bonefishing Tournament Series - Eleuthera Oct 14 - 19, 2025

Oktoberfest - Beer & BBQ Oct 19, 2025

Bahamas Bonefishing Tournament Championship - George Town, Exuma Oct 21 - 26, 2025

Conchman Triathlon

Nov 02, 2025

Governor's Harbour Homecoming Nov 05 - 09, 2025

Tabernacle Thanksgiving Basketball Tournament Nov 22, 2025

Festival Noel Dec 06, 2025

Bimini Local Government District 10 Christmas Festival Dec 26, 2025

Why Invest in The Bahamas

A Guide for Foreign Buyers: How to Purchase Real Estate in The Bahamas

Dreaming of owning a home in The Bahamas? For foreign investors, the Bahamian real estate market offers exciting opportunities, with no restrictions on foreign ownership, tax advantages, and diverse property options. Here’s a step-bystep guide to help you understand the process of purchasing property in The Bahamas as a non-resident, covering legal requirements, financing options, and essential tips to ensure a smooth transaction.

Why Foreign Investors are Drawn to The Bahamas Real Estate Market

The Bahamas is more than just a tropical paradise; it is a prime location for investors. The government’s open stance on foreign property ownership and attractive tax incentives have made it a sought-after destination. Here’s why foreign buyers find The Bahamas an ideal place to invest:

• Tax Benefits: With no income or capital gains taxes, The Bahamas appeals to those seeking tax efficiency.

• Strong Real Estate Market: High demand for luxury rentals in prime tourist locations makes The Bahamas an excellent market for rental income.

• Stable Economy: A stable political environment and tourism-driven economy add security for long-term investments.

• Residency Incentives: Foreign buyers investing over certain thresholds qualify for annual or permanent residency.

Can Foreigners Buy Property in The Bahamas?

Yes, foreigners can buy both residential and commercial properties in The Bahamas. Unlike many countries, there are no restrictions on the type or size of property foreign investors can own. However, certain regulations apply if you intend to purchase larger plots or for commercial purposes.

Step-by-Step Guide to Buying Property in The Bahamas as a Foreigner

Step 1: Define Your Investment Goals

Are you looking to buy a vacation home, secure a rental property, or make a long-term investment? Defining your goal helps narrow down the property type, location, and budget that will suit your needs best.

Step 2: Choose the Right Location in The Bahamas

The Bahamas is diverse, with each island offering unique opportunities. Here are some key locations:

• Nassau & Paradise Island: Ideal for those looking for proximity to urban amenities, nightlife, and major resorts.

• Exuma: Known for its stunning beaches and relaxed atmosphere, Exuma is perfect for luxury vacation homes.

• Abaco: Offers great boating and fishing opportunities, ideal for outdoor enthusiasts.

• Eleuthera: Known for its natural beauty, Eleuthera appeals to buyers seeking tranquility and charm.

Bahamian realtors are required by law to be licensed by The Bahamas Real Estate Association (BREA). Non-licensed BREA agents cannot do business in The Bahamas, save and except make referrals. A licensed BREA realtor will be able to assist you locating the right property.

Step 3: Budgeting and Understanding Costs

Beyond the purchase price, you’ll encounter several other costs. Here’s a breakdown:

• Stamp Duty: This transfer tax varies based on the property value, ranging from 2.5% to 10%.

• Value-Added Tax (VAT): VAT of 10% applies on property purchases over $100,000.

• Legal Fees: Generally 2.5% of the property price, covering contract drafting, title search, and closing.

• Annual Property Taxes: Based on the property’s assessed value, with rates varying by location and property type.

Step 4: Financing Options for Foreign Buyers

Foreign buyers have several financing options in The Bahamas:

• Bahamian Banks: Many local banks offer mortgages to non-residents. Requirements may include a higher down payment and stricter approval criteria.

• International Banks: Financing through an international bank may provide more flexibility if you have established credit outside The Bahamas.

It is advisable to consult with a Bahamian mortgage broker who can compare rates and guide you through the best financing options available.

Tips for Foreign Buyers in The Bahamas

• Inspect the Property: For overseas buyers, scheduling a property inspection is critical. A thorough inspection helps prevent unexpected repair costs after purchase.

• Plan for Property Management: If you will not be residing full-time, hiring a property manager can ensure maintenance and security.

• Understand Insurance Requirements: Hurricane insurance is recommended for properties in The Bahamas. Discuss options with a local insurance agent for comprehensive coverage.

Residency Options for Foreign Investors

Property investment can open the door to residency options:

• Annual Residency Permit: For investments in residential dwellings below $1 million, buyers may apply for an annual residency permit.

• Permanent Residency is available to those who invest $1 million and Accelerated Permanent Residency: Available for investments over $1.5 million, with a faster application process.

Residency in The Bahamas provides benefits such as easier re-entry and, for certain investment levels, the ability to reside in The Bahamas year-round.

Step 5: Working with a Bahamian Attorney

Hiring an experienced Bahamian attorney is essential for foreign buyers. Your attorney will help:

• Ensure the property title is clear of any issues.

• Draft and review the purchase agreement.

• Manage all paperwork, permits, and regulatory compliance.

Legal representation protects your investment and ensures that the transaction complies with Bahamian law.

Step 6: Register and Secure Required Permits

For properties larger than two acres or intended for commercial use, you will need a permit from The Bahamas Investment Authority (BIA). Your attorney can handle the permit process, ensuring all regulations are met before finalizing the purchase.

Step 7: Closing the Deal

At closing, you will complete the final payment and sign the necessary documents. Once all steps are finalized, the property deed is transferred, and you officially become a property owner in The Bahamas!

Taxes, Fees, and Financial Considerations for Foreign Buyers

Foreign buyers should be aware of the following financial considerations:

• Stamp Duty: The one-time property transfer tax varies by property value.

• Value Added Tax (VAT): 10% VAT applies to purchases over $100,000.

• Property Taxes: Annual property taxes apply based on property value.

Careful planning ensures you are aware of the full costs and avoids surprises down the line.

Frequently Asked Questions (FAQs)

Is Financing Available for Foreign Buyers in The Bahamas?

Yes, Bahamian banks offer mortgage financing to nonresidents, although down payment requirements and interest rates may vary. Consult a mortgage specialist for tailored advice.

Do I Need a Permit to Buy Property in The Bahamas?

Only properties over two acres or those intended for commercial use require a permit from The Bahamas Investment Authority.

Are There Taxes on Real Estate Sales for Foreign Buyers?

Yes, foreign buyers are subject to Stamp Duty, VAT, and annual property taxes. Each tax varies based on the property's value and location.

Your Bahamas Property Journey Begins with KW Bahamas

Buying property in The Bahamas offers foreign investors a wealth of benefits, from financial incentives to residency options. With the help of an experienced Bahamian real estate agency like KW Bahamas, the process becomes straightforward and transparent.

Ready to explore your options? Scan the QR Code on this page and check out our featured properties or contact KW Bahamas today, and let us help you acquire your dream property in The Bahamas.

Relocating to Paradise: A Comprehensive Guide for Investors Moving to The Bahamas

The Bahamas, a stunning archipelago in the Caribbean, is more than just a tropical paradise. With its crystal-clear waters, vibrant culture, and favorable business environment, it has become an increasingly popular destination for investors from North America, South America, and Europe. Whether you are seeking a new home, a vacation getaway, or a lucrative investment opportunity, The Bahamas offers a wealth of possibilities. This guide will provide you with essential insights into relocating to this beautiful region.

What the Economy is Like in The Bahamas

The Bahamian economy is primarily driven by tourism, which accounts for about 50% of the nation’s GDP and employs a significant portion of the workforce. Millions of visitors flock to the islands each year, attracted by their stunning beaches and luxury resorts. In addition to tourism, the financial services sector has seen considerable growth, with The Bahamas serving as a hub for international banking and investment. Real estate has also emerged as a lucrative field, especially for those looking to capitalize on the growing demand for vacation rentals and luxury properties.

The Bahamian government actively encourages foreign investment by offering various incentives. These include reduced import duties, tax exemptions, and streamlined processes for obtaining necessary permits and licenses. The country’s stable political environment, combined with ongoing economic development initiatives, makes The Bahamas an appealing destination for investors looking to diversify their portfolios.

Legal Framework for Investors

One of the most attractive features of relocating to The Bahamas is its investor-friendly legal framework. Foreigners can own property outright and enjoy various tax advantages, including no personal income tax, capital gains tax, or

inheritance tax. This makes The Bahamas particularly appealing for high-net-worth individuals seeking to preserve their wealth.

To invest or establish a business in The Bahamas, you will need to navigate a straightforward process. The Bahamas Investment Authority can provide guidance and resources to facilitate a smooth transition. Typical steps include submitting an application, obtaining the necessary permits, and potentially securing financing through local banks. Engaging a local attorney experienced in Bahamian law can help ensure compliance with all legal requirements.

Cost of Living in The Bahamas

When considering relocation, understanding the cost of living is crucial. The Bahamas offers a diverse range of living expenses that can vary significantly by island. Nassau, the capital, tends to have higher costs due to its urban amenities, while other islands like Abaco or Eleuthera may offer more affordable options.

Housing costs can be one of the largest expenses. While rental prices in prime areas can be steep, there are options for every budget. Utilities, including electricity and water, can also be higher than in some parts of North America and Europe. However, the absence of income tax can offset these costs. Groceries may be more expensive due to importation, so it is advisable to budget carefully and explore local markets for fresh produce.

It is important to conduct thorough research and connect with locals or expatriates who can provide insights into budgeting for a comfortable lifestyle in The Bahamas.

Understanding the cost dynamics will help you make informed decisions about your relocation.

Lifestyle and Culture in Paradise

The Bahamas boasts a rich cultural heritage that blends African, European, and indigenous influences. This vibrant culture is evident in the local music, art, and culinary scene. From the rhythmic beats of Junkanoo parades to the tantalizing flavors of conch fritters and cracked conch, the islands offer a feast for the senses.

Outdoor enthusiasts will find The Bahamas a paradise for water sports, snorkeling, diving, and sailing are popular pastimes, thanks to the pristine coral reefs and abundant marine life. Each island has its own unique offerings, from the stunning blue holes of Andros to the tranquil beaches of Harbour Island.

The warm climate, friendly locals, and community-focused lifestyle create a welcoming environment for newcomers. Engaging with local events and joining clubs or organizations can help you build connections and integrate into the community. Whether you prefer a laid-back beach life or a more active social scene, The Bahamas has something to offer everyone.

Real Estate Opportunities

The Bahamian real estate market is diverse, offering a variety of options, from luxurious beachfront villas to more modest island homes. Nassau and the Exumas are particularly popular for their stunning views and investment potential. The market has seen a rise in demand for vacation rentals, making it an attractive option for investors looking to generate rental income.

Real estate prices can vary widely depending on location and property type. In prime areas, you can expect to pay a premium, but there are also opportunities in emerging neighborhoods. Working with a knowledgeable local agent who understands the nuances of the Bahamian market can be invaluable. They can provide insights into market trends and help you identify properties that align with your investment goals.

Additionally, the process of purchasing real estate in The Bahamas is relatively straightforward. Foreign buyers are encouraged to conduct due diligence, including property inspections and title searches, to ensure a smooth transaction.

Healthcare and Education

Access to quality healthcare is a critical consideration for relocating families. The Bahamas has several modern healthcare facilities and clinics, particularly in Nassau and Freeport.

While private healthcare is available, it is wise to have comprehensive health insurance to cover potential medical expenses.

The public healthcare system does exist, but many expatriates prefer private options for faster service and access to specialists. It is advisable to familiarize yourself with local healthcare providers and understand the insurance landscape before making the move.

For families considering relocation, The Bahamas offers a range of education options. International schools provide high-quality education with diverse curricula, catering to expatriate children. Popular institutions often follow American or British educational systems, making it easier for children to transition. Understanding the education landscape can help ensure a smooth transition for families moving to the islands.

Practical Considerations

Getting to The Bahamas is relatively easy, with multiple international airports and regular flights from major cities in North America, South America, and Europe. Once you arrive, local transportation options include taxis, rental cars, and ferries connecting the islands. The tropical climate is warm year-round, but it is essential to prepare for the hurricane season, which runs from June to November. Investing in proper insurance and understanding local weather patterns can help mitigate risks associated with severe weather.

Creating a checklist for your move, including visas, shipping belongings, and setting up utilities, can help ensure a seamless transition. It is also wise to research local customs regulations, especially if you plan to bring household goods or pets.

Relocating to The Bahamas presents a unique opportunity for personal growth and financial investment. With its welcoming culture, beautiful landscapes, and favorable economic climate, The Bahamas is an ideal destination for those looking to enhance their quality of life while capitalizing on investment opportunities. As you consider your next move, explore the vibrant possibilities that await you in this Caribbean paradise.

For further information, visit www.bahamasinvest.org. We are specialists that can help you to have a smooth relocation to The Bahamas. The journey may lead to not just a new address, but a new lifestyle filled with sun, sea, and endless opportunities.

Freeport, Grand Bahama

The New Emerging Investment Haven of the Caribbean

Just 68 miles from Florida’s eastern shore lies a place rapidly positioning itself as the next major investment gateway to the Caribbean, the Americas, and beyond. On Grand Bahama Island, Freeport is more than just a picturesque tropical escape—it is an evolving economic hub that combines advantageous tax conditions, strategic positioning, forward-thinking governance, and a quality of life that few other destinations can match.

A City Born of Innovation and Vision

Freeport’s foundation dates back to the landmark Hawksbill Creek Agreement (HCA) of 1955, an agreement between the city’s founder, Wallace Groves and the Government of The Bahamas, that entrusted The Grand Bahama Port Authority, Limited (GBPA) with quasi-governmental powers and farreaching development responsibilities. Under the HCA, GBPA has certain administrative powers over a 230-square-mile Free Trade Zone, encompassing Freeport and its environs. Guided by this unique partnership, Freeport was envisioned as a master planned, well-regulated, and efficiently managed city— qualities that remain evident today.

At its core, GBPA’s mandate is to sustain an environment conducive to business growth and socioeconomic progress. This includes maintaining infrastructural standards that meet or exceed global benchmarks, regulatory oversight of environmental, building and sanitary compliance, business licensing, utilities regulations and city maintenance and management. Through strategic oversight, GBPA has cultivated a fertile ground for local and international enterprises to thrive.

A Transformational Era of Investment

Freeport’s development strategy has recently gained extraordinary momentum. Nearly $2.6 billion in new investment projects is currently reshaping almost every sector of the economy; tourism, maritime services, real estate, renewable energy, and education, among others. These initiatives, many backed by prominent international partners, signal a clear shift toward long-term, sustainable growth.

Photo by Pedro Monteiro on Unsplash

One of the most visible indicators of Freeport’s economic renewal is Carnival’s Celebration Key, a $600 million investment expected to establish the island as a marquee Caribbean travel destination. Slated to open in mid-2025, Celebration Key is projected to attract over two million cruise passengers annually and over four million by 2028.

Beyond the tourism boost, this initiative opens a universe of ancillary ventures; retail, hospitality services, cultural tours, and other entrepreneurial opportunities, to support the growing visitor market.

Adding to the allure is a $250 million venture spearheaded by the Weller Development Group and Six Senses. This project will introduce a luxury hotel, high-end residences, and premium commercial properties. The presence of an internationally renowned hospitality brand sets the stage for a new level of refined living and lifestyle-oriented investment on the island.

In the maritime sphere, the Grand Bahama Shipyard’s $665 million reinvestment and expansion project positions Freeport as one of the world’s largest ship repair and maintenance hubs. Leveraging the island’s proximity to global shipping lanes, this development underscores Freeport’s potential to serve as a strategic node in international trade and logistics.

These ventures merely scratch the surface. Plans to bolster renewable energy capacity, enrich educational infrastructure, and promote industrial diversification promise a balanced, resilient economy. The overarching narrative is clear: Freeport is not merely experiencing growth; it is undergoing a holistic and transformative evolution.

Streamlined Investment Processes

Central to Freeport’s appeal is the ease and efficiency of doing business. GBPA’s Business Development Unit - Invest Grand Bahama, provides Investor Concierge Services. Directed by seasoned professionals such as Chief Investment Officer Derek Newbold, guided by the strategic leadership of GBPA President Ian Rolle, it offers what can best be described as a ‘one-stop-shop’ for investors. By simplifying licensing, approvals, and regulatory compliance, this streamlined system eliminates traditional bureaucratic barriers that often deter foreign direct investment.

The presence of a single authoritative body overseeing economic activity ensures clarity and predictability—attributes highly valued by investors. GBPA’s supportive approach allows companies to focus on their core operations rather than navigating complex administrative procedures. As a result, entrepreneurs find themselves in an environment where innovative ideas can move swiftly from concept to execution.

Strategic Advantage in Global Trade

Location is among Freeport’s greatest assets. Situated on major international maritime routes, the city provides preferential trade access to the Caribbean and key consumer markets across North America and Europe. In practical terms, this allows businesses to position their manufacturing, assembly, and distribution operations in a jurisdiction that sits at the crossroads of global commerce.

For American based investors, Freeport’s proximity to Florida, reachable within less than 30 mins by air, offers an unmatched geographic advantage. Meanwhile, being only a few hours away from most major U.S. cities by plane facilitates seamless connectivity to various American, Canadian, and Latin American markets. European investors, too, find Freeport’s location appealing as a near-shore platform to serve clients on both sides of the Atlantic.

Unparalleled Tax Incentives

Freeport’s Free Trade Zone status provides a suite of tax advantages that are highly competitive in today’s global investment landscape. Investors currently enjoy:

• No taxes on exports

• No taxes on imports

• No or low-income taxes*

• No property taxes

• No capital gains taxes

• No taxes on the repatriation of profits

Total import duty exemptions on capital equipment and supplies related to business operations.

These incentives translate to a more competitive cost structure and enhanced profit margins, making Freeport particularly attractive for industries that rely on free-flowing goods and services. While many jurisdictions promote themselves as tax-friendly, few match the breadth and depth of Freeport’s concessions.

Infrastructure Ready for Tomorrow

One of the linchpins of Freeport’s ascent is its commitment to world-class infrastructure. From robust port and transshipment facilities to reliable utilities and telecommunications systems, the city is equipped to handle the demands of contemporary commerce. This infrastructure supports a range of industries from large-scale manufacturing and logistics to high-end tourism and professional services, ensuring that businesses can operate efficiently and meet global standards.

Infrastructure development in Freeport goes beyond the essentials, extending into areas like renewable energy integration and sustainable urban planning. As global markets increasingly value ESG (Environmental, Social, and Governance) compliance and sustainable operations, Freeport proactively puts itself ahead of the curve. This alignment with future-facing trends further enhances Freeport’s reputation as a progressive and responsible investment destination.

Quality of Life: More than a Business Location

While business considerations may top investors’ agendas, Freeport offers more than a fertile commercial environment. The island’s natural beauty; sun-drenched beaches, clear turquoise waters, and lush landscapes pairs effortlessly with a growing selection of cultural, dining, and entertainment options. The result is a balanced lifestyle that appeals to entrepreneurs, executives, and employees alike.

Residents of Freeport find themselves immersed in a community that values safety, wellness, and opportunity. Quality healthcare services, international schooling options, and a welcoming expatriate community add to the city’s appeal. For those relocating or establishing branch offices, it is not merely about work-life balance; it is about achieving a lifestyle upgrade that fosters personal and professional growth in equal measure.

An Inclusive and Forward-Thinking Vision

The future of Freeport is one of inclusion and adaptability. As the city continues its renaissance, GBPA works closely with Bahamian stakeholders, foreign investors, and community leaders to ensure that progress benefits all. Diversifying the economy beyond tourism by strengthening maritime industries, championing renewable energy projects, and supporting educational initiatives ensures a stable and inclusive growth model.

Continuous collaboration with government agencies and global business associations enhances transparency and trust. Investors seeking a jurisdiction with sound governance will find assurance in Freeport’s robust legal frameworks, well-established property rights, and mature regulatory environment. It is a place where pragmatic policymaking meets entrepreneurial spirit.

Seize the Moment: Investing in Freeport’s Future

As Freeport undergoes this remarkable transformation, the message to investors could not be clearer: now is the time to establish a foothold. The near-term influx of capital projects, combined with the city’s existing tax incentives, strategic location, and business-friendly administration, create a window of opportunity that is both rare and compelling.

For investors with long-term vision, Freeport’s emergent status as a hub for innovation, industry, and lifestyle aligns with macro trends shaping global markets. Enterprises that settle here today will benefit not only from the immediate advantages; streamlined operations, lower tax burdens, world-class infrastructure but also from the broader trajectory of growth that Freeport is committed to sustaining.

A Bright Horizon in the Caribbean

In a world where global investment destinations continually vie for attention, Freeport stands apart as a place where visionary planning, strategic advantages, and a superior quality of life converge. It is a community building its future on a stable, investor-oriented foundation, with a clear roadmap for progress and diversification.

As it carves out a role as the Caribbean’s emerging investment haven, Freeport’s confluence of opportunity, convenience, and lifestyle stands as an invitation— not only to invest but to become part of a truly transformative era in the region’s economic history.

*The no income tax revenue threshold in The Bahamas is $800 million. Revenues exceeding this threshold can attract a 15%income tax for multinationals.

Navigating Healthcare in The Bahamas: A Guide to the Islands’ Medical Services

Public Healthcare Services

The Bahamas, with its picturesque landscapes and vibrant culture, is not just a dream destination for vacationers; it is also home to a growing expatriate community and investors seeking a more permanent residence. As more people consider relocating to these beautiful islands, understanding the healthcare system and medical services available becomes crucial. This guide aims to provide an in-depth look at the healthcare landscape in The Bahamas, including types of services, facilities, and tips for newcomers.

Overview of Healthcare in The Bahamas

The Bahamas’ healthcare system is regulated by the Ministry of Health, which oversees public hospitals and clinics. The private sector includes numerous clinics, private hospitals, and specialized medical practices, providing a range of services from general practice to advanced surgical procedures.

While the public system is available to all residents, the private healthcare sector is increasingly popular among expatriates and those seeking quicker, more specialized care. The government has made strides in improving healthcare services, but challenges remain, particularly in rural areas.

Public healthcare in The Bahamas is funded through the national budget, with just over $385 million allocated to the Ministry of Health and Wellness and is accessible to all citizens and residents. The main public healthcare facility is Princess Margaret Hospital in Nassau with approximately 400 beds; which offers a variety of services, including emergency care, maternity services, and surgery. However, due to limited resources and staffing, public facilities may experience long wait times, and the range of services can vary significantly.

In addition to Princess Margaret Hospital, there are several other public health facilities across the islands, including:

• Rand Memorial Hospital: Located on Grand Bahama island, it provides various services similar to those available in Nassau and has approximately 68 beds.

• Community Health Clinics: These are spread throughout the islands and offer basic medical services, preventive care, and immunizations.

While public healthcare is an option, many expatriates choose to utilize private healthcare services for more timely and comprehensive care.

The National Health Insurance Authority (NHIA) allows every legal citizen or resident to access private primary care facilities for primary care and antenatal services without cost. Basic laboratory services are also available free of charge.

Dr. Eugene Marcus Cooper M.D., M.H.A.

Cat Island Medical

Private Healthcare Services

The private healthcare sector in The Bahamas has expanded significantly over the years, offering a range of services that cater to both locals and expatriates. Many private facilities provide high-quality care and have modern equipment and experienced medical professionals. Here are some notable private healthcare providers:

1. Doctors Hospital: Located in New Providence, Grand Bahama, and Exuma, it is one of the leading private healthcare providers in The Bahamas. It offers a full range of services, including emergency care, surgical services, diagnostic imaging, and specialized medical treatments. The hospital is known for its high standards of care and personalized services.

2. Oak Tree Medical Centre: With facilities based on the island of New Providence, Oak Tree provides comprehensive lab services including a wide range of diagnostic test for the general public. They provide radiology, MRI services, and have a state-of-the-art Kidney Clinic. They also provide Surgical services, including Endoscopic procedures, Colonoscopies, Neurosurgery and Pain Management, Podiatry, ENT Surgery and Ophthalmology procedures. Their Surgical Centre also performs minor Gynecological, General, Orthopedic, Plastic and Vascular surgery procedures as well as Bronchoscopy, Port placements and Urology procedures.

3. Family Medicine Centre: This private practice in Nassau and Eleuthera focuses on family care and preventive medicine. It offers a variety of services, including routine check-ups, immunizations, and chronic disease management.

4. Cat Island Medical: This private facility is based on Cat Island. It focuses on wellness and provides Cancer screening, EKG examinations, Blood testing, Antenatal Care, Dental screening and Pharmacy services. Cat island Medical also has an X-ray facility and offers free services to residents who are registered with the National Health Insurance programme.

5. Island Health: Located in the Exumas, this facility offers primary care services, urgent care, and preventive health screenings. It is an excellent option for those living on or visiting the out islands.

6. Lyford Cay Hospital: This medical facility which is situated in the western district of New Providence, outside the luxury residential community of Lyford Cay, is an outpatient facility with specialists in Cardiology, Internal Medicine, and Family Practice.

Specialized Medical Services

For expatriates and investors, specialized medical services can be crucial, especially for those with pre-existing conditions or specific healthcare needs. Here is an overview of specialized services available in the Bahamas. The list is by no means exhaustive as most medical and surgical specialties are available in country including Cardiovascular, Gastroenterology, Endocrine, Open Heart, Neuro and Spine Surgery, Dialysis and Vascular Surgery.

• Dental Care: Dental services in The Bahamas range from routine check-ups to specialized treatments like orthodontics and cosmetic dentistry. Many private dental clinics offer high-quality services, and some practitioners have training from international institutions.

• Vision Care: Eye care services, including routine eye exams, contact lens fittings, and surgeries like LASIK, are available through various private clinics and hospitals. Regular eye exams are important for maintaining eye health, especially for those with a family history of eye conditions.

• Reproductive Health Services: The Bahamas offers various reproductive health services, including prenatal and postnatal care, fertility treatments, and family planning. Private obstetricians and gynaecologists provide personalized care for expectant mothers.

• Mental Health Services: Access to mental health services has been improving, with more private practitioners and clinics offering counselling, therapy, and psychiatric care. It is essential for expatriates to find a provider who understands the unique challenges of relocating to a new country.

• Emergency Services: Emergency medical services are available through public and private hospitals. However, response times can vary, especially in more remote areas. It is advisable to familiarize yourself with local emergency numbers and the nearest medical facilities upon arrival.

Health Insurance Options

Before relocating to The Bahamas, it is important to consider health insurance options. While the public healthcare system is available, many expatriates prefer private health insurance to access quicker, higher-quality care. Several local and international insurance companies provide coverage tailored to expatriates, including:

• Local Insurance Providers: Companies like Colina, BahamaHealth, CG Atlantic and BA Financial offer health insurance plans specifically designed for residents of The Bahamas. These plans often include coverage for private hospital stays, outpatient services, and prescription medications.

• International Health Insurance: Many expatriates opt for international health insurance plans that provide global coverage. These plans typically allow you to choose your healthcare provider and may include features like medical evacuation in case of emergencies.

When selecting health insurance, consider factors such as coverage limits, exclusions, and network providers. It is also wise to read reviews and consult with others in the expatriate community to find the best option for your needs.

Relocating to The Bahamas presents exciting opportunities for personal and financial growth but understanding the healthcare system is essential for a smooth transition. With a mix of public and private services, The Bahamas offers a range of medical care options to suit various needs.

By familiarizing yourself with local facilities, selecting the right health insurance, and establishing a primary care provider, you can ensure that you and your family have access to quality healthcare in your new home.

As you embark on this journey, remember that The Bahamas is not just about beautiful beaches and tropical landscapes; it is also about building a healthy and fulfilling life. Embrace the adventure and enjoy all that these stunning islands have to offer.

For further information, visit www.bahamasinvest.org

We are experts in helping you to smoothly relocate to The Bahamas. If you would like to gain a comprehensive understanding of the medical services available in The Bahamas, we are here to help.

Tips for Navigating Healthcare

For newcomers to The Bahamas, navigating the healthcare system can be overwhelming. Here are some tips to help you get started:

1. Establish a Primary Care Provider: As soon as you relocate, find a primary care provider you trust. The Bahamas Medical Council has a list of General Practitioners and Specialists on its website (https://www. bmcsite.com). This will ensure continuity of care and help you access specialized services when needed.

2. Stay Informed About Local Facilities: Familiarize yourself with the nearest hospitals and clinics, as well as their specialties and services. Keep contact information readily available for emergencies. There are limited healthcare facilities in most of the Family Islands. If you have chronic medical illnesses, contact the island administrator to find out what services are available before you go. Most medical emergencies will require airlift to Nassau or the United States.

3. Keep Your Medical Records Handy: Bring copies of your medical records, including vaccination history, any chronic conditions and medications. This information will be invaluable to your new healthcare provider.

4. Understand Local Health Risks: Be aware of health risks specific to The Bahamas, such as mosquitoborne illnesses like dengue fever and Zika virus. Taking preventive measures, like using insect repellent, is crucial.

5. Maintain a Healthy Lifestyle: Embrace the outdoor lifestyle The Bahamas offers. Regular exercise, a balanced diet, and staying hydrated can help you maintain your health in a new environment.

6. Engage with the Expat Community: Connecting with other expatriates can provide valuable insights into the local healthcare landscape. They can share their experiences with specific providers and recommend resources.

The Bahamas: A Premier Destination for Family Wealth Management and Estate Planning

The Bahamas, renowned for its breathtaking landscapes and vibrant culture, is increasingly recognized as a blue-chip jurisdiction for financial services. Specifically catering to highnet-worth individuals (HNWIs), the islands provide a wellregulated environment ideal for family wealth offices. These offices offer bespoke legal and financial services, ensuring that clients receive personalized solutions tailored to their unique needs. This article delves into the financial services landscape in The Bahamas, emphasizing the role of family wealth offices, estate planning strategies, and asset protection trusts.

A Well-Regulated Financial Services Jurisdiction

The Bahamas boasts a long-standing reputation as a stable and reliable financial services jurisdiction. Its regulatory framework is designed to meet international standards while fostering a conducive environment for investment and wealth management. The sector is regulated by several entities including:

• The Central Bank of The Bahamas

• Securities Commission of The Bahamas

• Insurance Commission of The Bahamas

• Inspector of Financial and Corporate Services

• Registrar of Insurance Companies

• Compliance Commission of The Bahamas

• Bahamas International Securities Exchange They all contribute to overseeing the sector, ensuring compliance with best practices in governance, transparency, and anti-money laundering protocols.

The jurisdiction's robust legal framework is further enhanced by its political stability and favorable tax regime. The Bahamas does not impose personal income tax, capital gains tax, or inheritance tax, making it an attractive destination for High Net Worth Individuals (HNWIs) seeking to preserve and grow their wealth. This combination of regulatory oversight and tax advantages has solidified The Bahamas’ position as a leading hub for family wealth offices.

Family Wealth Offices: Curated Solutions for HNWIs

Family wealth offices in The Bahamas specialize in providing comprehensive financial and legal services tailored to the needs of wealthy families. These offices act as a centralized resource for managing wealth, encompassing investment management, estate planning, tax optimization, and succession planning. By offering curated services, family wealth offices ensure that clients receive personalized attention and expert guidance.

Many firms in The Bahamas are well-equipped to handle the complexities of wealth management for HNWIs. Many family wealth offices provide investment management, financial planning, and estate planning. They work closely with families to develop bespoke strategies that align with their financial goals.

Private banking has been a pillar of the country’s offerings for decades. Coupled with asset management, family wealth office solutions and long historical commitment to discretion and personalized service, make The Bahamas a preferred choice for HNWIs.

Family wealth offices serve as trusted advisors, guiding clients through the intricacies of managing and transferring wealth across generations. Their expertise is especially valuable in a jurisdiction like The Bahamas, where regulatory nuances and local market knowledge play crucial roles in successful wealth management.

Securing Family Legacies with Estate Planning in The Bahamas

Estate planning is a critical component of wealth management, and The Bahamas offers various tools to help HNWIs protect their assets and ensure smooth transitions of wealth. Effective estate planning in The Bahamas involves several strategies, including the establishment of trusts, wills, and other legal structures designed to preserve family legacies.

One of the most popular estate planning tools in The Bahamas is the Asset Protection Trust. This type of trust is specifically designed to safeguard assets from potential creditors and legal claims while allowing individuals to retain control over their wealth. Here are some key features of Asset Protection Trusts:

• Legal Protection: Asset Protection Trusts provide robust legal protection against creditors, making it difficult for third parties to access trust assets. This is particularly beneficial for HNWIs seeking to shield their wealth from potential lawsuits or financial claims.

• Flexibility and Control: Individuals can retain significant control over their assets within the trust, including the ability to manage investments and distributions. This flexibility allows families to adapt their wealth management strategies as circumstances change.

• Tax Advantages: While The Bahamas does not impose personal income or capital gains taxes, establishing an Asset Protection Trust can also provide tax planning benefits. Properly structured trusts can help optimize tax liabilities for beneficiaries, enhancing overall wealth preservation.

• Confidentiality: The Bahamas offers a high degree of confidentiality for trust arrangements, protecting the privacy of individuals and their families. This discretion is especially appealing for HNWIs concerned about the public visibility of their financial affairs.

Navigating Legal and Regulatory Frameworks

To establish an Asset Protection Trust or engage in comprehensive estate planning, it is essential to work with legal professionals who understand the local regulatory landscape. The Bahamas has a cadre of experienced attorneys and wealth management experts who specialize in trust and estate law. They provide local expertise with a global reach and are able to navigate the complexities of cross border estate administration.

When engaging with legal professionals, it is crucial to communicate your specific goals and objectives. A thorough understanding of your family’s financial situation, values, and aspirations will enable your advisors to craft a comprehensive estate plan that aligns with your vision.

The Role of International Financial Services

The Bahamas’ strategic location and strong regulatory framework make it a hub for international financial services. Many family wealth offices in The Bahamas cater to clients with global interests, offering cross-border planning and investment strategies. This international focus is particularly valuable for HNWIs who require specialized services in navigating the complexities of multi-jurisdictional wealth management.

International banks and investment firms have established operations in The Bahamas, providing HNWIs with access to global markets and investment opportunities. These institutions offer tailored financial solutions, including portfolio management, private equity investments, and alternative asset classes.

Additionally, the presence of a diverse range of financial institutions in The Bahamas fosters a competitive environment, enabling clients to access the best possible services and products.

The Importance of Succession Planning

Beyond asset protection and tax efficiency, succession planning is an integral aspect of estate planning for families in The Bahamas. Ensuring that wealth is effectively passed down to future generations requires careful consideration and proactive measures. Family wealth offices play a crucial role in facilitating succession planning by helping families establish governance structures and develop succession strategies. This may involve creating family constitutions, appointing family advisors, and implementing strategies for educating younger generations about wealth management.

Engaging in open conversations about family values, goals, and expectations is essential for successful succession planning. This dialogue helps ensure that the family’s vision for the future is aligned and that the next generation is prepared to manage and grow the family’s wealth.

The Bahamas stands out as a premier destination for highnet-worth individuals seeking tailored financial services, estate planning, and asset protection. With a well-regulated financial landscape, family wealth offices provide curated solutions that cater to the unique needs of wealthy families. Asset Protection Trusts and other estate planning tools offer robust strategies for safeguarding assets and ensuring smooth transitions of wealth across generations.

As more individuals recognize the advantages of The Bahamas as a financial services hub, it is essential to engage with experienced legal and financial advisors who can guide you through the intricacies of wealth management in this jurisdiction. By doing so, you can create a comprehensive plan that not only preserves your family’s legacy but also positions it for future growth and success.

For those considering a move to The Bahamas or exploring wealth management options, the journey offers exciting possibilities in a breathtaking environment. Embrace the opportunity to secure your family’s financial future while enjoying the unparalleled beauty of this Caribbean paradise. If you’d like assistance with navigating family wealth management and estate planning in The Bahamas, visit www.bahamasinvest.org.

Luxury Living:

If warm weather, crystal-clear water, and closeness to the United States are not enough to get you to relocate to The Bahamas, a community of like-minded individuals should. Luxury gated communities in The Bahamas may provide not only a game of golf or drinks at sunset but also a club for individuals with similar interests.

In a world where skyscrapers, penthouses, and designer labels are frequently used to define luxury, private islands provide a more mysterious and magical form of pleasure. Imagine waking up to the sound of calm waves lapping on pristine beaches, surrounded by nothing but the vast horizon and lush vegetation. This is luxury redefined—where the ultimate privilege is not only wealth but also solitude, exclusivity, and the power to create a world tailored entirely to your desires.

Who Buys Property In Luxury Gated Communities In The Bahamas?

While The Bahamas continuously draws tourists and house purchasers from all over the globe, the majority of those searching for holiday homes come from the United States, Eastern Canada, Western Europe, and the United Kingdom. The Bahamas is now easily accessible from Canada, the United States, and Europe, making it a popular second and third-home destination.

Realtors expect that real estate in luxury gated communities on the islands will remain in high demand due to limited availability, a desirable lifestyle, a currency pegged to USD, and easy access via international flights.

Buyers may now choose between old colonial estates, Caribbean-style villas, and modern residences with access to five-star resort facilities.

Real estate experts peg the average property price in The Bahamas’ premium category at about $2.5 million. At the same time, the highest and lowest costs might be $25 million for a 12 bedroom villa with 246 feet of beach; and $1 million for a 2 bedroom condo in a new resort-style development.

Benefits of Owning A Luxury Home In The Bahamas

Here are some of the lifestyle and financial benefits of having a vacation home in The Bahamas.

Stunning scenery and weather

The Bahamas is recognized for its captivating beauty and pleasant, sunny weather. Temperatures in the hottest months average in the mid-80s Fahrenheit, making it an ideal destination for tourists and snowbirds looking to escape chilly winters and wet days. Owning a vacation home in The Bahamas offers you access to some of the world's most stunning beaches, coral reefs, and pure blue oceans. So, whether you like water activities such as snorkeling, scuba diving, or fishing or just want to relax on the beach, The Bahamas provides something for everyone.

Rental income

Owning a vacation property in The Bahamas may be a wise investment, particularly if you want to rent it when you are not using it. As previously said, with over 10 million tourists annually, there is great demand for holiday rentals, and you may generate a large amount of rental income. By purchasing a vacation home in The Bahamas, a homeowner may easily convert their investment into a profitable rental property. Rental revenue may generate a consistent return for owners while also covering property maintenance expenditures.

Tax advantages

Owning a vacation home in The Bahamas provides tax advantages. The Bahamas has no income, capital gains, or inheritance taxes, making it a popular destination for overseas investors.

Lifestyle benefits

Owning a vacation home in The Bahamas also provides several lifestyle perks. For starters, you will have a permanent place to go when you need to get away from the hassles of everyday life. You will also get the opportunity to immerse yourself in a new culture, meet new people, and experience new activities. So, whether you want to try local food, learn about Bahamian history and culture, take a boat excursion to a neighboring island, or just relax on the beach, having a holiday property in The Bahamas may open up a world of new opportunities.

Appreciation Potential

Real estate in The Bahamas has traditionally risen over time; particularly investment properties with regular returns, making it a potentially profitable investment option. Furthermore, as the demand for vacation homes and rental properties grows, property prices in The Bahamas are anticipated to climb, which means that if you decide to sell your vacation home in the future, you may be able to not just recoup your investment but yield a profit.

Security

The Bahamas is well known for its safety and security. Recent years have seen a determined effort by the government to increase public safety. Some vacation home communities in The Bahamas include gated gates, 24-hour security, and additional safeguards to preserve the safety and privacy of its inhabitants.

Access to world-class amenities

Owning a vacation home in The Bahamas provides access to a variety of world-class amenities. The Bahamas has everything; whether you like golf, tennis, spa treatments, exquisite cuisine, or shopping. Some vacation home communities in The Bahamas include unique facilities including private beaches, swimming pools, and fitness centres. Furthermore, the nation is home to various luxury resorts, casinos, and entertainment venues, so there is always something to do.

Family memories

Many individuals purchase a vacation home in The Bahamas to build family memories of dream vacations that will endure for generations; owning a second home allows you to spend quality time with family and friends in a calm setting, away from the stresses of daily life. With a vacation property in The Bahamas, you can easily plan quality time with family and friends, and the country's natural beauty provides the ideal backdrop for a memorable holiday.

Sense of community

Owning a vacation home in The Bahamas offers the homeowner a feeling of community. Bahamians are warm, polite, and welcoming, and having a vaction home allows you to develop long-term ties with locals. The feeling of community among homeowners in The Bahamas may be gratifying and life-changing, giving them a strong sense of belonging.

How to Buy Real Estate in The Bahamas

Now that you have a better understanding of what real estate in The Bahamas looks like, you may be wondering how to purchase property here. Here are a few things you should think about before making your purchase.

1. Establish a budget

Before making a significant investment, you should first establish a budget. The Bahamas has a diverse range of real estate opportunities to suit various budgets. However, to make the greatest financial and future decisions, you must first determine your budget. Once you have settled on a figure or range that works for you, you may begin looking for your ideal house.

2. Choose your Bahama Island and property

type

The Bahamian diversified real estate market appeals to almost everyone looking to buy a home on the islands. Whether you want to invest in a multi-family home in a luxury gated community, purchase a private villa on a private island, or live in an condo in the busy capital city of Nassau, The Bahamas has the ideal home and island for you.

3. Work with the best Bahamian realtors

Once you have determined your budget and the investment you want, it is time to work with the top real estate agent in The Bahamas.

Average Price of Real Estate in The Bahamas by Location

Given that location is one of the most important variables influencing the average price of real estate in The Bahamas, you should consider where you want to reside. The following is the average real estate price in several of The Bahamas' most popular cities and luxury communities.

Nassau Real Estate

The Bahamas' capital city offers a diverse range of activities, including entertainment, culture, nightlife, and excellent dining. Nassau is a popular destination for visitors to The Bahamas for its unique experiences for residents and property owners. Luxury residential developments such as Albany attracts visitors from all over the globe who expect nothing less. The typical price of real estate in this lovely neighborhood varies based on your needs, but you can anticipate paying up to $3 million.

Paradise Island Real Estate

Paradise Island is a short bridge-ride from Nassau and has all the benefits and conveniences of resort-style living.

Paradise Island’s luxury homes start at $1 million and vary from ocean-front condos to multi-million dollar mansions in communities like Ocean Club Estates.

Abaco Real Estate

Abaco, sometimes known as the ‘boating capital of the world,’ is a 120-mile island chain. Almost everyone who visits this island wants to go fishing, boating, or snorkeling. The Abacos provide a diverse range of real estate and rental opportunities for visitors, tenants, and home buyers.

The average listing price for property in The Abacos is around half a million, according to current active listings. Whether you want to stay in a private villa by the seaside or invest in a multi-family property, these islands provide something for everyone.

Exuma Real Estate

Exuma, home of the world-famous swimming pigs, offers an adventurous lifestyle. The island is made up of various cays, which residents and tourists are invited to explore. Exuma’s luxury amenities result in an average real estate price of about $1.2 million. With luxury resorts, there are activities for the whole family. Exuma’s premium real estate showcases Bahamian architecture and chic island sophistication.

Harbour Island Real Estate

Harbour Island is located on the north coast of Eleuthera. This picturesque island is home to gorgeous pink sand beaches. Residents spend their days riding horses along the shore, driving golf carts through the quaint streets of the island, and eating some of the most delicious cuisine in The Bahamas.

Real estate on Harbour Island is highly sought after, with

typical prices starting at $1 million. The expense is worth the pleasure of living on this beautiful island. Harbour Island provides a unique Bahamian experience, mixing Bahamian culture and history for an educational and exhilarating experience.

Bimini Real Estate

Bimini, located 50 miles off the coast of Florida, provides a magnificent combination of small island living and big game fishing. The island has multiple cays, which some believe to represent the lost city of Atlantis. Bimini’s exquisite real estate, which has a wide range from mid-six figures to seven figures based on recent listings, shows a remarkable combination of diverse cultures and modernism. Bimini homeowners, like those on many other Bahamian islands, enjoy complete access to breathtaking, crystal-clear seas, engaging activities, and luxurious lodgings.

Island Luxury Awaits

Luxury property ownership in The Bahamas has advantages that are both financial and personal; and sets it apart from many other more traditional investments. With beautiful views, tax exemptions, and the prospects of receiving rental income, as well as possible property appreciation, The Bahamas offers not just a glamorous experience of luxury vacations but a profitable investment. Whether you are fascinated by the seclusion of private island villas or city life in Nassau, The Bahamas offers several opportunities for making warm and inviting spaces for the family with good community spirit. The Bahamas remains a highly favored country for many people because of its easily accessible international flight connection and, most importantly, its overall safety and luxurious amenities in tandem with an appealing long-term investment.

BUSINESS PLANS

BUDGET PLANNING AND IMPLEMENTATION

Sol Kerzner: The Visionary Architect of Atlantis

and Pioneer of Global Hospitality

Few names resonate with the same transformative power in the realm of luxury and leisure hospitality as Sol Kerzner. Born in South Africa, he was a dreamer who changed the face of global tourism. Kerzner’s extraordinary journey from historic Johannesburg to the iconic shores of Paradise Island stands as an extraordinary example of the profound impact that one man’s ambitious innovation had on an entire industry.

Born in August 1935 in Johannesburg, Kerzner would emerge to redefine norms in the traditional realms of hospitality. His innovative approach to luxury resorts and integrated destination experiences would revolutionize, once and for all, the concept and construct of high-end resort tourism, leaving an imprint on an industry that continues to inspire and influence.

The Birth of an Empire

Kerzner’s entrepreneurial spirit eventually spawned several successful hotel brands, including Southern Sun Hotels, Sun International, and Kerzner International. The innovative development of Sun City in 1979 would become Kerzner’s model for integrated resorts around the world, but it was his redevelopment and rebranding of Paradise Island Resort and Casino and Britania Towers to Atlantis Paradise Island that would prove to be his magnum opus.

When Kerzner bought the ailing Bahamian property in 1994, few could have envisioned that it would become a global phenomenon. Starting with approximately 2000 rooms in the Beach, Coral and Royal Towers it has evolved into almost 4000 rooms with the addition of The Cove and The Reef,

Image is courtesy of The Ministry of Tourism

and is undeniably a trendsetter for luxury resort destination. Shaped by his visionary leadership, Atlantis Paradise Island has emerged as a place of wonder; boasting the Caribbean’s largest casino, the world’s largest marine habitat, luxury shopping boutiques, a marina and a waterpark that captivates both adults and children; making it an ideal destination for every classification of traveler imaginable.

A Transformed Nation

Kerzner’s influence upon The Bahamas goes even beyond simple business success. Atlantis became the nation’s largest private employer, providing careers to almost 8,000 locals at its peak. His investment in the Bahamians through extensive training programs helped develop a skilled workforce that would serve as a strong foundation to support The Bahamas’ growing tourism industry.

The success of this resort catalyzed and crystalized a wider economic renaissance in international investment and contributed to the modernization of the nation’s tourism infrastructure. For decades, The Bahamas has maintained its position as a top global luxury destination, creating a ripple effect throughout the archipelago with boutique resorts on just about every island.

Global Legacy

Kerzner’s vision knew no borders. The opening of Atlantis, The Palm in Dubai marked the global expansion of the Atlantis brand, solidifying the global appeal of his integrated resort concept.

Integrating an innovative approach to hospitality with luxury accommodations, coupled this with entertainment, gaming, and family-friendly amenities, the Atlantis brand shifted the paradigm for resort development across the globe. The signature attractions of the resort are: Aquaventure water park, Dolphin Cay, and the prestigious Battle 4 Atlantis basketball tournament and iconic dining options like Nobu –continue to draw millions of visitors to it every year. Almost 30 years later, the resort is as magical and enchanting today as it was when it doors first opened.

A Lasting Impact

Upon Kerzner’s death in March 2020, then Bahamian Prime Minister, Dr. Hubert Minnis, captured the extent of that legacy when he said, ‘He left an indelible and lasting imprint on The Bahamas, which he loved and which he considered a second home.’ The Prime Minister went further to say, ‘No history of the modern and independent Bahamas would be complete without reference to the positive and pervasive impact that Sol Kerzner had on the social and economic development of The Bahamas.’

The legacy of Sol Kerzner went far beyond the brick-and mortar that he had constructed. His 2010 honorary knighthood from Queen Elizabeth II recognized his amazing contributions to global tourism. Today, his visionary concept of themed integrated luxury resorts continues to influence cutting edge innovation in the hospitality industry. Atlantis remains a symbol of the power of bold vision and unrelenting dedication to excellence. In an ever-evolving tourism landscape, the manner in which Kerzner achieved success remains as historical and pioneering as it does relevant and influential. Sol Kerzner’s is an indomitable spirit that remains alive and forever etched in the annals of global hospitality.

Navigating School Options: An Expatriate Guide

By Astranique Bowe, Founder of Ignite Learning Consultancy

The Bahamian Education Landscape: An Overview

When relocating to the tropical island of New Providence in The Bahamas, wealthy North American, Canadian, European and Asian families face numerous decisions, with education being one of the most important. Ensuring children have access to high-quality schooling is a priority for families, and understanding the range of options is essential. This guide explores the variety of school options available, considering curriculum, facilities, extracurricular activities, costs, and how they align with global education standards.

Wealthy expatriates tend to enroll their children in private or international schools due to the smaller class sizes, stronger academic programs, and international, North American or British curricula. There are also a number of faith-based schools which are very reputable and have been pillars in Bahamian society for providing quality education for decades and in some instances more than a century. English is the primary language of instruction, making the transition easier for English-speaking students. Many teachers have been trained in the U.S., U.K., or Canada, bringing an international level of expertise to the classroom. Schools in The Bahamas prepare students to sit local and international examinations and ultimately transition to tertiary education locally or abroad.

For the purpose of this guide, schools are being listed based on the geographic location of the schools on the island of New Providence.

Schools in the western district of New Providence convenient for residents of Albany, Balmoral, Cable Beach, Charlotteville, Lyford Cay, Old Fort Bay and the surrounding residential communities:

School Name: Lyford Cay International School (LCIS)

Grade levels: Preschool – Grade 12

Curriculum: International Baccalaureate

Primary Years Program (PYP), Middle Years Program (MYP) and Diploma Program

Facilities: State of the art modern teaching, sports and recreational facilities

Tuition and Fees: $9,600 - $32,800

Location: Lyford Cay | Western Road

Website: www.lcis.bs

School Name: Windsor Preparatory Academy

Grade levels: Preschool – Grades 12

Curriculum: Early Years Foundation

Stage | Cambridge International Primary Curriculum IGCSEs | BGCSEs | APs | SATS

Facilities: State of the art modern teaching, sports and recreational and boarding facilities

Tuition and Fees: $11,500 - $24,000

Location: Albany and Old Fort Bay Website: www.windsorschoolbahamas.com

School Name: Kings College School

Grade levels: Nursery – Year 13

Curriculum: Cambridge Early Years | Cambridge International Primary | Cambridge International Secondary | Cambridge International GCSEs | International Baccalaureate (IB) Diploma Programme

Facilities: State of the art modern

teaching, sports and recreational and boarding facilities

Tuition and Fees: $16,301 - $28,410

Location: Western Road

Website: www.kingscollegeschool.bs

School Name: The Meridian School

Grade levels: Nursery – Grade 6

Curriculum: Calvary Curriculum | ION Program for varying disabilities

Facilities: Modern teaching, sports and recreational facilities

Tuition and Fees: $2,700 - $5,600

Location: High Point Road off John F. Kennedy Drive

Website: www.themeridianschool.com

School Name: Tambearly International School

Grade levels: Pre-kindergarten –Grade 12

Curriculum: Montessori | US Curriculum supplemented by British, Canadian and Bahamian material | SAT, SAT II, Advanced Placement (AP)

Facilities: Modern teaching, sports and recreational facilities

Tuition and Fees: $10,455 – $16,395

Location: Sandyport Marina Village and Off Atlantic Drive

Website: www.tambearly.org

School Name: Aquinas College (Catholic)

Grade levels: 7-12

Curriculum: Bahamas Junior Certificate (BJC) | Bahamas General Certificate of

Secondary Education (BGCSE)

Facilities: Traditional teaching, sports and recreational facilities

Tuition and Fees: $4860

Location: Gladstone Road

Website: ac.cec.edu.bs

School Name: St. John’s College (Episcopal/Anglican)

Grade levels: Pre-kindergarten –Grade 12

Curriculum: Grade Level Assessment Test (GLAT) |

Bahamas Junior Certificate (BJC) | Bahamas General Certificate of Secondary Education (BGCSE) | SAT, SAT II, AP

Facilities: Traditional teaching, sports and recreational facilities

Tuition and Fees: $4500

Location: Bethel Avenue, Stapledon Gardens

Schools in the eastern district of New Providence convenient for residents of Palm Cay, Treasure Cove, Port New Providence, The Eastern Road, Brigadoon, Paradise Island, and the surrounding residential communities:

School Name: St. Andrew’s

International School

Grade levels: Pre-school – Grade 12

Curriculum: International Baccalaureate

Primary Years Program (PYP), and IB Diploma Program | Middle Years Diploma (MYD)

Facilities: Modern teaching, sports and recreational facilities

Tuition and Fees: $7,230 - $21,570

Location: Yamacraw Hill Road

Website: standrewsbahamas.com

School Name: Summit Academy

Grade levels: K2 – Grade 8

Curriculum: International Early Years Curriculum (IEYC) | International Primary Curriculum (IPC)

Facilities: Modern teaching, sports and recreational facilities

Tuition: $7,650 - $10,755

Location: East Bay Street

Website: summitacademybahamas.net

School Name: Genesis Academy (Christian)

Grade levels: Pre-Kindergarten –Grade 12

Curriculum: Blended Learning

Facilities: Teaching and recreational facilities

Tuition: $6,750 - $9,900

Location: Shirley Street and Dowdeswell Street

Website: genesisacademy.org

School Name: Queen’s College (Methodist)

Grade levels: Kindergarten – Grade 12

Curriculum: Grade Level Assessment Test (GLAT) |

Bahamas Junior Certificate (BJC)

| Bahamas General Certificate of Secondary Education (BGCSE) | SAT, SAT II, AP

Facilities: Modern teaching, sports and recreational facilities

Tuition: $3,200 - $6,018.80

Location: Village Road

Website: www.qchenceforth.com

School Name: Kingsway Academy (Bretheren)

Grade levels: K3 – Grade 12

Curriculum: Grade Level Assessment Test (GLAT) |

Bahamas Junior Certificate (BJC)

| Bahamas General Certificate of Secondary Education (BGCSE) | SAT, SAT II, AP

Facilities: Teaching, sports and recreational facilities

Tuition: $4,200 -$6900

Location: Bernard Road

Website: kingswayacademy.edu.bs

School Name: St. Anne’s School (Episcopal/Anglican)

Grade levels: Pre-kindergarten –Grade 12

Curriculum: Grade Level Assessment Test (GLAT) |

Bahamas Junior Certificate (BJC)

| Bahamas General Certificate of Secondary Education (BGCSE) | SAT, SAT II, AP

Facilities: Teaching, sports and recreational facilities

Tuition and Fees: $4500

Location: Fox Hill Road

School Name: St. Augustine’s College (Catholic)

Grade levels: 7-12

Curriculum: Grade Level Assessment Test (GLAT) |

Bahamas Junior Certificate (BJC)

| Bahamas General Certificate of Secondary Education (BGCSE) | SAT, SAT II, AP

Facilities: Teaching, sports and recreational facilities

Tuition: $5,120

Location: Bernard Road and Fox Hill

Website: www.saintaugustinescollege.com

Things To Know Buying Real Estate

Investing in real estate in The Bahamas? Here is what you need to know. The Bahamas is a premier destination for real estate investment, offering a combination of natural beauty, tax incentives, and straightforward property ownership policies. Whether you are purchasing a vacation home, rental property, or making a large-scale development investment, understanding the local market is key to maximizing your opportunities.

Key Benefits of Investing in Bahamian Real Estate:

1. Foreign Ownership: Foreign investors have the same property ownership rights as Bahamians, with minimal restrictions on purchasing real estate.

2. No Direct Taxes: The Bahamas has no income, inheritance, or capital gains taxes, making it an attractive destination for investors seeking a tax-friendly environment.

3. High Demand for Rentals: With thriving tourism and expatriate communities, rental properties in The Bahamas enjoy consistent demand.

4. Luxury Market Opportunities: The Bahamas is renowned for its high-end market, featuring luxurious beachfront homes, exclusive private islands, and resort-style living.

Steps for Investing in Bahamian Real Estate:

1. Understand the Market

• Popular Locations: Nassau, Paradise Island, Eleuthera, Abaco and Exuma are hotspots for investors, offering access to infrastructure, amenities, and stunning natural landscapes.

• Property Types: Options include residential properties, commercial spaces, vacant land for development, and private islands.

2. Engage Professionals

• Licensed Real Estate Agents: Work with agents certified and licensed by The Bahamas Real Estate Association (BREA) to navigate the local market.

• Legal Assistance: Retain a licensed attorney-at-law to verify property titles, draft agreements, and handle transactions.

3. Registration and Fees

• Investment Thresholds: Non-Bahamians purchasing property valued at $1 million or more qualify for economic permanent residency consideration. Under $1 million Non-Bahamians can apply for an Annual Resident Permit.

• Stamp Duty: Typically split between buyer and seller, this fee is 10% of the property’s value.

• VAT: Value-Added Tax of 10% applies to most property transactions.

4. Financing Options

• Cash Purchases: Preferred by many foreign buyers for faster transactions.

• Local Mortgages: Offered by Bahamian banks for eligible investors, though terms may differ from international standards. A Bahamian Mortgage Broker can help you navigate the local market.

5. Investment Incentives

• Hotels Encouragement Act: Offers duty exemptions on building materials for approved tourism-related developments.

• Economic Empowerment Zones: Incentives for developing properties in designated areas to spur economic growth.

Fact Sheet:

Bahamian Real Estate at a Glance:

Category Details

▶ Foreign Ownership Allowed: foreigners can purchase, lease, or own real estate outright.

▶ Minimum Investment: $1 million for permanent residency consideration.

▶ Taxes: no income or capital gains tax. 10% VAT and stamp duty on most property purchases.

▶ Popular Areas: Nassau, Paradise Island, Exuma, Eleuthera, and Abaco.

▶ Financing Options: available through Bahamian banks; cash purchases are common.

▶ Permanent Residency: available for real estate investors.

▶ Development Incentives: duty-free import of materials for approved projects under the Hotels Encouragement Act.

Now is the time to invest in The Bahamas’ unique blend of natural beauty, economic stability, and investorfriendly policies. The Bahamas has a perfect climate for real estate investment.

Whether seeking a personal retreat or a lucrative business venture, The Bahamas offers a range of opportunities unmatched anywhere else in the Caribbean.

By partnering with trusted professionals and leveraging government incentives, investors can secure their place in this world-renowned destination while enjoying long-term financial and lifestyle benefits.