HGC Investor Guide Summer/Fall 2020

INVESTOR’S Guide To Real Estate In The Bahamas

SUMMER/FALL 2020

TRANSACTIONS PROPERTY ABOUT HG CHRISTIE

HGChristie’s Head Office - 309 Bay Street, Nassau (1940s)

Few offshore tourism and investment hubs can match The Bahamas for its top five draws of location – just 60 miles off the coast of South Florida; New York timezone; year-round temperate climate ranging from 70s F in winter to 90s F in summer; nearly 300 years of stable democracy; and more than 100,000 square miles of the clearest, bluest waters on earth. It is no wonder The Bahamas has been such a magnet for international visitors, investors and second-home buyers since 1922, when visionary and trailblazer Sir Harold G. Christie first opened up the islands and established H.G. Christie Ltd, now the oldest, largest and most respected real estate firm in the country.

Along with his brother Frank Holmes Christie, CBE, Sir Harold developed some of The Bahamas’ most celebrated high-end real estate communities including Lyford Cay in New Providence, Windermere Island in Eleuthera, Great Harbour Cay in the Berry Islands, as well as Hawk’s Nest Cay and Pigeon Cay in Cat Island.

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Sir Harold Christie, K.T., C.B.E. - Founder

In 1936 Sir Harold facilitated travel and communication between The Bahamas and the rest of the world along with American investor Sir Harry Oakes, building the country’s first landing strip at Oakes Field and founding Bahamas Airways Limited.

Sir Harry also played a key role in a range of other important Bahamian institutions including Chairman of the Telecommunications Board, founding member of the Development Board, and President of the Bahamas Historical Society.

Such w i d e s p r e a d accomplishments and accolades earned him a CBE in 1949 and a Knighthood in 1964.

In 1978 William McP. L-R: Sir Harold & Frank Christie

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RESIDENCY & EMPLOYMENT ABOUT HG CHRISTIE

(Peter) Christie, nephew and principal real estate attorney for Sir Harold, inherited the helm as President and was active in the company until his passing in February 2018 at the age of 88.

Peter’s son John Christie, a talented musician and song-writer who gave up life on the road in 1993, now leads the company as President. John has earned a reputation as the country’s premier realtor for private islands and luxury real estate.

In 1997, Peter’s daughter, Cara Christie, also joined the company and plays a vital role as Vice President and specialist in the rental market.

John has expanded the company from just one office, three agents and two staff members in 1993, to seven offices, over 40 agents and approximately 20 staff members today.

H.G. Christie Ltd now boasts offices in Grand Bahama; Marsh Harbour and Elbow Cay in Abaco; Governor’s Harbour in Eleuthera; George Town in Exuma; as well as its flagship office in central Nassau and new location at Old Fort Bay Town Centre on Windsor Road, New Providence.

Peter & John Christie

Peter Christie

Under John’s leadership, the company has won a range of accolades and awards including Best Real Estate Website in The Bahamas, Best Real Estate Agency in the Americas, and Best International Real Estate Agency.

2019 finds HGC once again being a trailblazer.

Riding success and well-established practices, while securely latched to the reigns of progress, HGC is embracing interactive and social media, in-house video production, professional photography services, sales team and service expansion, awards for The Bahamas and the Caribbean, and realtor of choice for leading firms and investors from around the world.

Yet it is not just business flair that keeps celebrities, high net worth and discerning clients returning. It is a genuine care for the people being served, a company-wide enthusiasm entrenched in local knowledge and an honest love of The Bahamas which drives Sir Harold’s legacy forward.

With these core values and commitments in place it is no wonder that H.G. Christie has become “The Trusted Authority in Bahamas Real Estate”.

John Christie

Cara Christie

Investor’s Guide To Real Estate In The Bahamas | SUMMER/FALL 2020

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THE BAHAMAS

grand bahama

GOVERNMENT

abaco

bimini

The Bahamas has enjoyed political stability since it declared independence from Great Britain on July 10, 1973, and uninterrupted parliamentary democracy since 1729.

berry islands eleuthera

andros

nassau/ paradise island cat island

CURRENCY

san salvador exumas

rum cay long island crooked island

ragged island acklins

Legal currency of The Bahamas is the Bahamian dollar, although the U.S. dollar is accepted throughout the islands and is on par with the Bahamian dollar.

mayaguana

GREEN INCENTIVES little inagua

great inagua

The Bahamas is truly an investor’s paradise for many reasons including a skilled productive workforce, stable government and economy, sound legal framework, modern infrastructure, proximity to key markets and attractive investment incentive policies.

LOCATION The 100,000 square mile archipelago of The Bahamas begins just 60 miles off South Florida’s east coast and stretches more than 500 miles southeast in a chain comprised of some 700 islands and cays in the Atlantic Ocean. The capital, Nassau, is on New Providence, while Freeport and Lucaya on Grand Bahama are regarded as the nation’s second city.

POPULATION The 2010 census recorded the population at 353,658.

The projected population for 2018 is 381,320. More than 70% of the population resides on New Providence.

ECONOMY The Bahamas welcomes foreign direct investment with tourism, financial services and construction as its primary pillars. New investments in hotels, resorts and developments range from billion-dollar megaprojects on New Providence to distinct communities in the Family Islands. As a leading offshore financial centre, The Bahamas is largely favoured by Canadian, Swiss and US institutions.

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Import duties have been substantially reduced or eliminated on many green products including energysaving appliances and fixtures, solar equipment, plus electric and hybrid cars.

INVESTMENT ENVIRONMENT To support an investment-friendly climate and foster the economic growth and development of The Bahamas, the Government will provide: • A politically and economically stable environment conducive to private investment; • An atmosphere where investments are safe and the expropriation of investment capital is not considered; • A legal environment based on a long tradition of parliamentary democracy, the rule of constitutional and statute laws and where security of life and personal property are guaranteed; • A stable macroeconomic environment bolstered by prudent fiscal management, a stable exchange rate, flexible exchange control rules and free trade; • An environment in which freedom from capital gains, inheritance, withholding, profit remittance, corporate, royalty, sales, personal income, dividends, payroll and interest taxes is ensured; • Essential public services, an adequately equipped police constabulary; modern health and education facilities, and other social services; • Dependable public utilities; • Essential public infrastructure such as roads, ports and airport.

The Government is committed to enhancing the image of The Bahamas as an international financial

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RESIDENCY & EMPLOYMENT INVESTMENT ENVIRONMENT

centre. To this end, the government will use international best practices as it: • Maintains The Bahamas as a leading financial centre; • Monitors developments in international financial markets and amend rules, regulations or legislation to preserve and enhance competitiveness; • Ensures the operation of a clean financial centre with rules and regulations to prevent laundering of criminally derived assets; • Supports The Central Bank of The Bahamas in its commitment to bank supervision and promoting high standards of conduct and sound banking practices; and • Supports the self-regulatory measures of the Association of International Bank and Trust Companies (AIBT), particularly, the established code of conduct for bank and trust companies.

INVESTMENT PROPOSAL An international investor seeking to do business in The Bahamas should submit to the Bahamas Investment Authority (BIA) a project proposal containing: • Name of corporation and beneficial owner and address, including telephone/fax; • Executive summary of project; • Type of Business - whether share company, partnership, individual or joint venture; • Principals - investors, major beneficial shareholders, including dates and places of birth, copies of passports or social security numbers, annual reports or audited financial statements, description of investor’s business; • Proposed location; • Land requirements; • Start-up date; • Employment projections - number of Bahamian and non Bahamian employees; • Management/personnel requirement - years of experience, training and work permits* for key personnel; • Financial arrangements for project, including bank reference; • Environmental impact - toxic waste, disposal procedures and toxic input;

• Concessions sought/investment incentives if applying under a particular Act or programme.

• Local representative: Attorney, Accountant or Agent. *Necessary work permits for key personnel will be granted.

Businesses requiring permit for persons other than key personnel are encouraged to consult BIA in advance.

Investment Incentives Investment incentives under the following Acts include: exemption from the payment of customs duties on certain construction materials, related equipment and approved raw materials; and real property taxes for up to 20 years.

• Export Manufacturing Industries (Encouragement Act) • Industries Encouragement Act • Agricultural Manufactories Act • Tariff Act • Free Trade Zone Act • City of Nassau Revitalization Act • Hotels Encouragement Act • Family Island Development (Encouragement Act) • Spirits and Beer Manufacturer Act • Bahamas Vacation Plan and Time-Sharing Act • Hawksbill Creek Agreement Act (Freeport City) Areas Targeted For Foreign Investors (required investment of $500,000 and above)

• Touristic resorts • Upscale condominium, timeshare and second home development •. International business centres • Marinas • Information/data processing • Assembly industries • High-tech services • Ship Registration, repair and other ship services • Light Manufacturing for export • Agro-Industries • Food Processing • Mariculture • Banking and other financial services • Captive insurance • E-commerce • Aircraft services • Pharmaceutical manufacture • Offshore medical centres

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TRANSACTIONS PROPERTY INVESTMENT INCENTIVES

Areas Reserved For Bahamians • Wholesale* and Retail Operations • Commission agencies engaged in the import/ export trade • Real estate and domestic property management agencies • Domestic newspapers and magazines • Domestic advertising and public relations firms • Nightclubs and restaurants except specialty gourmet and ethnic restaurants; restaurants operating in a hotel, resort complex or tourist attractions • Security services • Domestic distribution of building supplies • Construction companies, except for special structures for which international expertise is required • Personal cosmetic/beauty establishments • Commercial fishing • Auto and appliance service operations • Public transportation. *International investors may engage in the wholesale distribution of any product they produce locally.

PROPERTY TRANSACTIONS Real estate brokers attract a 10% commission on the sale of undeveloped property; 6% on developed property - residential or commercial.

Value Added Tax (VAT) As of July 1, 2019 VAT will be charged at a rate of 2.5% on property transactions up to $100,000, and 10% above $100,000. The Vendor and Purchaser share the VAT payment.

In property sales, sellers generally pay commission and legal fees. VAT of 12% will be levied on commissions, legal fees, and appraisals, as well as rentals and Common Area Maintenance (CAM).

Mortgages & Conveyances Stamp duty on mortgages is payable at a rate of 1% on the amount borrowed.

The Bahamas Bar Association follows a minimum scale fee for conveyances and mortgage transactions at 2.5% of the sale price plus out-ofpocket expenses.

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First-Time Homeowners VAT/Stamp Duty Exemption applications can be made by First Time Home Owners, for stamp duty exemptions on their conveyance and mortgage instruments, relative to the acquisition of their first time dwelling home.

Eligibility • Must be Bahamian.

• Must be a first-time homeowner.

• The structure must be a single family dwelling house, duplex, but portion must be owner occupied or a condominium unit.

• The value of the structure and property must be under $500,000.

Supporting Documents • Completed application forms.

• Valid Bahamian Passport.

• Letter of application.

• A recent home appraisal report.

• Copy of National Insurance Card and relevant pages of passport.

• Copy of the first, signature and backing pages of Conveyance and/or Mortgage Instruments.

• Any other document and/or information that may be requested by the Stamp Exemption Unit.

• Copy of Sales Agreement.

INT’L. PERSONS LANDHOLDING ACT, 1993 Amended in 2007, The International Persons Landholding Act, 1993, made it easier for nonBahamians and companies under their control to own property.

• A non-Bahamian or permanent resident who purchases or acquires an interest in a condominium or property to be used by him as an owner-occupied property, or for construction of premises to be used as an owner-occupied property, must apply to the Secretary to the Investments Board (IB) to register the purchase. Application for Certificate of Registration Form 1 must be filed with the Bahamas Investment Authority (BIA), Office of the Prime Minister. Contact BIA for a complete list of the required documentation that must accompany the application along with the original receipt from the Public Treasury showing

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payment of the requisite fee of $250.

• Upon receipt of the above, the acquisition is registered and a certificate of registration issued.

• A permit to acquire property is required if the property is undeveloped land and the purchaser would become the owner of two or more contiguous acres. A permit is also required if the non-Bahamian intends to acquire land or an interest therein by way of freehold or leasehold, when the acquisition is not in accordance with item 1.

• Non-Bahamians who own homes in The Bahamas may apply to the Director of Immigration for an annual homeowner’s card that entitles the owner, spouse and dependent children to enter and remain in The Bahamas for the duration of the validity of the card (one year). This facilitates entry - it does not confer resident status in The Bahamas.

All applications for permits, Form 3, are to be submitted to BIA for consideration by the IB. If approved, a letter is issued and payment of the requisite fee of $500 is paid at the Public Treasury and the original receipt returned to BIA. The permit is then issued by the Secretary to the Board.

Fee Schedule Permit Certificate of registration Annual homeowner’s residence card

$500 $250 $250

REAL PROPERTY TAX Bahamians and non-Bahamians owning real property in The Bahamas must pay property tax.

Returns are due on or before December 31 each year, and are filed with the Chief Valuation Officer.

Taxes are paid to the Dept. of Inland Revenue office on Carmichael Road in New Providence, at any Royal Bank of Canada or at www.propertytaxgov.bs Property Tax Rates • Owner-occupied property (owner resides and uses exclusively as a dwelling) a. First $250,000 of property value Exempt b. Next $250,000 of property value 0.625% c. Above $500,000 of property value 1% • Residential Properties (has 4 units or less, and is

used solely as a dwelling place) a. First $75,000 of property value $300 b. Above first $75,000 of property value 0.625% • Commercial Properties (above 4 units even if used as a dwelling place) a. First $500,000 of property value 0.75% b. Above $500,000 of property value 2% • Vacant Land for Foreigners a. First $7,000 of property value $100 b. Portion over $7,000 2% First-time Bahamian homeowners exempt on Real Property Tax on New Providence properties for 5 years from date of occupancy or conveyance.

Persons owning real property in The Bahamas are entitled to make application to the Real Property Tax office for reassessment once every 5 years.

Property owners can have a law firm act on their behalf or undertake the application themselves.

Requirements for reassessment include presenting a copy of the most recent tax bill, a current appraisal from a licensed reputable appraiser, completion of the Property Tax Application Assessment Form (available at the property tax office or online at www.bahamas.gov.bs), along with the submission of a signed letter from the owner of record (or their attorney) requesting the reassessment of annual real property tax liability. A 10% discount is applicable on accounts that are current and paid in full by March 31 in any year. At the time of closing a sale transaction, the attorney for the new owner of the real property registers the sale with the property tax office. A current appraisal is often requested and presented along with the registration. Your HGChristie Appraisal Team can provide services to address property tax assessment concerns.

Title Insurance Prospective purchasers are encouraged to secure title insurance to insure against the risk of hidden defects that may be discovered on the title, in addition to the security in legal opinion. The title policy is valid for as long as the insured holds the title. The premium is a one-time payment with no renewal fees. In the case of vacant land, it is recommend to increase the insurance coverage when the improvements are complete. If a defect is discovered, the title insurer will step in to assist

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TRANSACTIONS PROPERTY PROPERTY TRANSACTIONS

with rectifying, and bear the associated costs on the purchaser’s behalf. Once any open issues have been satisfactorily addressed, the attorney issues the legal opinion to the title insurer and the transaction moves to completion. The title insurance policy is issued when the title deed is recorded in the Registry of Records and the premium is paid.

Outstanding Property Taxes • The Treasurer now has the power to sell unimproved/vacant land where real property taxes are in arrears and unpaid for at least 6 months after the expiration of 30 days from becoming due.

• A 5% surcharge is applied to outstanding property taxes.

PLANNING & SUBDIVISION ACT, 2010 As of 1st January, 2011, homeowners occupying single-family homes must obtain proper business licenses and home renovation permits to alter their homes for commercial purposes. Land to be used for commercial purposes must dedicate a portion of the parcel for a park, recreation and open space.

Approval Authority No development of a land can be commenced or carried on unless the developer obtains (i) Land Use Plan Approval (ii) Zoning By-law Approval (iii) Site Plan Approval (iv) Zoning Compliance (v) Architectural Design Approval (vi) Subdivision Approval and (vii) Severance Approval.

Subdivision Approval No lots can be sold, agreed to be sold, or conveyed in a subdivision that has not received prior approval.

In order to obtain approval the following must be in place (i) every road must be in accordance with the Land Use Plan; (ii) all lots must conform to the Zoning By-Law; (iii) submitted plans must indicate grading and contours of the land and the provision for the adequate disposal of surface and waste water, installing of all utilities, location of sidewalks and street lighting; and (iv) every lot must be surveyed with all markers in place on the ground.

All subdivision roads other than private roads must be completed and conveyed to the Government

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within one (1) year from the date of approval. All approved roads must be constructed to the satisfaction of the Minister who may also enter into agreements with respect to the construction, maintenance and operation of private roads including private water and sewerage works or other private road services.

Any person who breaches the subdivision requirements may on summary conviction be fined B$20,000 or sentenced to 1 year in prison. Property owners are permitted to divide a suitable parcel of land up to four times without requiring subdivision and land use plan approval by making application for severance to the Town Planning Dept.

RESIDENCY & EMPLOYMENT The government’s immigration policy is aimed at ensuring the reasonable security, well-being and economic progress of The Bahamas and its people.

The government considers citizenship, permanent residency and work permits for non-Bahamians.

Financially independent non-Bahamian nationals are eligible to apply for Economic Permanent Residency upon a purchase of a residence in The Bahamas valued in excess of $750,000. Accelerated consideration is given to applications for annual or permanent residence by major international investors and to “fit and proper” owners of residences valued in excess of $1,500,000. As The Bahamas is a major tourist destination, every effort is made to keep visitors’ immigration formalities to a minimum. NonCommonwealth citizens should inquire at the Ministry of Foreign Affairs for entry requirements, as they vary from country to country. Visitors entering The Bahamas must fill out an embarkationdisembarkation card. The designated portion is retained and must be surrendered upon departure from the country. Visitors must be in possession of a return ticket to their homeland or to some other country where they would be accepted. As a part of the admittance process, visitors may be required to produce evidence that they are able to sustain themselves while in The Bahamas. Visitors may stay for a maximum of eight months, provided they can show means of financial support for this period. Visitors are not allowed to engage in any form of gainful occupation while in The Bahamas.

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RESIDENCY & EMPLOYMENT RESIDENCY & EMPLOYMENT

Obtaining An Annual Residence Permit Persons wishing to reside in The Bahamas on an annual basis may qualify under one of the four categories.

• Spouse or dependent of a citizen of The Bahamas: If an applicant is married to a Bahamian citizen, a resident spouse permit may be issued. The resident spouse permit is issued for a maximum period of five years. After five years, an application may be made for permanent residence (at a cost of $250) or citizenship.

• Spouse or dependent of a permit holder: In addition to the usual application process, a copy of the sponsor’s work permit, permit to reside, certificate of permanent residence or other lawful authority to reside in The Bahamas must be included.

• Independent economic resident: As part of the application process, a financial reference is required from a reputable bank verifying economic worth, and two written character references are required. For an annual permit to reside, a head-ofhousehold pays $1,000 and $25 for each dependent.

• Resident homeowner including seasonal resident homeowner: Non-Bahamians who own second homes in The Bahamas may apply to the Director of Immigration for a homeowner’s residence card. This card is renewable annually and entitles the owner, spouse and any minor child/children endorsed on the owner’s card when travelling with the owner, to enter and remain in The Bahamas for the validity of the card.

The fee is $250 per year and is intended to facilitate entry in The Bahamas with minimal formalities, entitling the holder to visit for a stay of up to one year. Requirements may include proof of property ownership in The Bahamas and that real property tax payment is current. Successful applicants are not permitted to engage in employment.

Procedures For Obtaining a Work Permit An inflexible principle of The Bahamas government is that no expatriate may be offered a position that a suitably qualified Bahamian is available to fill.

Employers with vacant posts are required to advertise locally and consult The Bahamas Employment Exchange. If unsuccessful in fulfilling their requirements by these methods, they may apply to the Department of Immigration for

permission to recruit outside The Bahamas, following a formal application process. Normally, an application will not be processed if the prospective employee is already in The Bahamas having entered as a visitor.

Work permit fees range per year depending on the category.

The Bahamas Immigration Bahamianization Policy, which is critical to the granting of work permits, provides that: • Whenever there is a position that a Bahamian is qualified to fill, he should be given the position in preference to anyone else.

• The Bahamian must be given that job on the same terms and conditions as any expatriate counterpart.

• Where the company has a career structure, whether here or abroad, the Bahamian employee must be given the same opportunities for advancement as would be afforded other employees.

• The Bahamian must be helped whenever possible to broaden skills in the individual’s chosen field of endeavour by constant exposure to further training at home and abroad.

Where work permits have been granted, each employer will be required to identify a suitable Bahamian to understudy the expatriate so that the Bahamian trainee will fill the expatriate’s position within a reasonable time. Genuine investors usually have little difficulty in complying with these requirements. Employers may obtain permits for longer periods than the standard one-year period in respect to certain key personnel on contract. Such contracts should indicate their renewal would be subject to obtaining the necessary immigration permission, and they may be endorsed to the effect that the employee is expected to train or be replaced by a suitable Bahamian within a stipulated period. Each permit issued by the Immigration Board relates to a specific post. Permits are not altered by the Director of Immigration Board to reflect change of employment or residence.

However, a person holding a work permit may make application for a new one (his new employer having been unsuccessful in recruiting a qualified Bahamian to fill the post) without having to leave the islands, providing the current work permit is still valid. The

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RESIDENCY & EMPLOYMENT

renewal of a permit on expiration is not automatic.

Generally, no expatriate may be continually employed in the country in any capacity for more than five years.

However, there are likely to be cases where hardship will be caused by rigid implementation of this policy.

According to government, this factor will be kept in mind in applying the regulations.

Bonding A bond is required for each person granted a work permit, if necessary, to repatriate the employee and his dependents and to pay any public charges, including medical expenses, incurred by the employee.

Annual business licence renewal applications are due on or before January 31 and payments are due on or before March 31 every year. All business licenses expire on December 31 (excluding occasional and temporary licences). A licensee who fails to make requisite filings or payments by the due date is liable to pay penalty fees: 1. $100 for late filing of renewal application and late notification for inactivation or cessation of a business; 2. 10% tax liability for late payment of business licence tax.

Permanent Residence Applicants for this status of residency must be of good character and prepared to show evidence of financial support. Such an applicant must also state that he intends to reside permanently in The Bahamas.

For most businesses, taxes are based on gross turnover; and calculated from $100 for a petty business to 0.50% to 1.50% for businesses with turnovers from $50,000 to $50 million and greater. Companies designated non-resident under the Exchange Control Regulations Act pay an annual fee of $300.

Application for a new business license is completed online at www.VAT.revenue.gov.bs. A non-Bahamian company must first obtain approval from the National Economic Council (NEC)/Bahamas Investment Authority (BIA) before the application can be processed.

Persons may apply for permanent residence in any of the following categories provided they satisfy statutory requirements of The Bahamas: • As the spouse of a citizen of The Bahamas, and in the case of a male, he must have been married for not less than five years. Women married to Bahamians may apply at any time after marriage.

• As an economic applicant; that is, one who seeks to permanently reside in The Bahamas because of: a. Investment/business or home valued above $750,000. b. Established roots through family ties.

Temporary Licence A temporary business is a business undertaking of a specific contract for a specified period not exceeding three years. Non-Bahamians who contract to carry out a business must apply for a temporary licence and pay a rate of 1.5% of the value of the business contract. Temporary licences are not granted unless all outstanding licence fees under previous licences are paid and the application is approved by the Minister of Finance. It is an offence for a foreign person to carry on a business without a temporary licence.

Persons who held valid certificates of permanent residence prior to the Immigration Act, 1975, continue to hold such status automatically.

Occasional Licence Occasional licences may be granted for the following purposes: • To carry on a sales business; • To act as a travelling salesman (non-resident individual); • To stage a business event at any place or premises

Annual Travelling Sales Representative Permit Travelling sales representatives planning to do business in The Bahamas must obtain work permits from the Department of Immigration, as well as a licence from the Licensing Authority.

Business Licence Fee The Business Licence Act, 2010, made it mandatory for anyone operating a business to obtain a licence.

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Investor’s Guide To Real Estate In The Bahamas | SUMMER/FALL 2020

PASSPORTS & VISAS

of public dancing, singing, music or other such public entertainment; • To stage a trade show or expo; • To vend at a regatta, farmer’s market or other national or community event.

Occassional licences are taxed at $25 and granted for any period not exceeding seven days up to four times a year.

BAHAMAS ENTRY REQUIREMENTS Passports All nationals of foreign countries residing in or visiting The Bahamas must hold valid national passports.

Visas Visas are required by all persons entering The Bahamas except: • US citizens entering as a visitor for a stay not exceeding 8 months; • Canadian citizens - landed immigrants in possession of Form 1000 for visits not exceeding 30 days; • United Kingdom citizens; • Citizens of Western Union; • British Commonwealth citizens with the exception of Pakistan, Cameroon, Mozambique, India, Nigeria and Ghana; • Citizens of South American countries, however the nationals of the following countries can visit for periods not exceeding 3 months - Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela.

• Nationals of the following countries for visits not exceeding 3 months - Afghanistan, Republic of; Albania, Republic of; Algeria, Dem & Pop Republic of; Angola, Republic of; Belarus, Republic; Benin, Republic of; Bhutan, Kingdom; Burkina Faso; Burundi, Republic of; Cambodia, Cameroon, Republic; Central African Republic; Chad, Republic of; China, People’s Republic of; Comoros, Fed. & Islamic (Union of); Congo, De. Pop. Rep. of (Zaire); Congo, Republic of; Cote D’Ivoire, Republic of; Cuba; Djibouti, Republic of; Dominican Republic; Egypt, Arab Republic of; Equatorial Guinea, Republic of; Eritrea, State of; Ethiopia; Gabon (Gabonese) Republic; Ghana, Republic of; Guinea,

Republic of; Guinea-Bissau, Republic of; Haiti, Republic of; India, Republic of; Indonesia, Republic of; Iran, Islamic Republic of; Irag, Republic of; Jordan, Hashemite Kingdom of; Kazakhstan, Republic of; Korea-North, Dem. Peo. Rep. of; Kyrgystan (The Kyrgyz Republic); Laos (Lao People’s Dem. Republic); Lebanon, Republic of; Liberia, Republic of; Libyan Arab Jamahiriya; Macau (Chinese Special Adminstrative Area); Madagascar, Republic of; Maurtania, Islamic Republic of; Micronesia, Federated States of; Mongolia; Montenegro; Morocco, Kingdom of; Mozambique, Republic of; Nepal, Kingdom of; Niger, Republic of; Nigeria, Federal Republic of; Oman, Sultanate of; Pakistan, Islamic Republic of; Paulau, Republic of; Palestine; Philippines, Republic of; Qatar, State of; Rwanda, Republic of; Saudi Arabia, Kingdom of; Senegal, Republic of; Serbia; Somalia (Somali Democratic Rep.); Sudan, Republic of The; Syria (Syrican Arab Republic); Taiwan (Province of The People’s Republic of China); Tajikistan; Thailand, Kingdom of; Timor-Leste; Tongo, Republic of; Tunisia, Republic of; Turkmenistan, Republic of; Ukraine; United Arab Emirates (UAE); Uzbekistan, Republic of; Vietnam, Socialist Republic of; Yemen, Republic of; and Zaire (see Congo, DE., Rep. of).

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NASSAU (Head Office) P.O. Box N-8164 Millar’s Court East & Shirley Streets Nassau, Bahamas Tel 242 322 1041 Old Fort Bay Town Centre Tel 242 327 7407

LUXURY HOMES • CONDOMINIUMS • PRIVATE ISLANDS

GRAND BAHAMA Mall Drive, P.O. Box F-42473 Freeport, Grand Bahama Tel 242 351 8501 ABACO P.O. Box AB-20106 Marsh Harbour Tel 242 367 5454 Hope Town Tel 242 366 0700 ELEUTHERA P.O. Box EL-25148 Governor’s Harbour Tel 242 332 3404 Spanish Wells Tel 242 422 9070 EXUMA P.O. Box EX-29122 George Town Tel 242 336 2274 Sales@HGChristie.com www.HGChristie.com

BEACHFRONT PROPERTIES • RENTALS • APPRAISALS

ltd.