Under the Immigration Act of The Bahamas, a foreign investor may be eligible for a permanent residence permit on the basis of a residential property purchase of at least B$500,000 (US$500,000). The spouse and children of the investor may be included in the application at no additional cost.
The permanent residence permit grants the investor and their dependents the right to live and work in the Bahamas indefinitely.
Applicants must show a proof of assets and sufficient means to support themselves and their families without the need to work in Bahamas.
After 10 years of permanent residency, 7 if married with a Bahamian citizen, you will be eligible to become a citizen, provided that the permanent resident has resided in The Bahamas for a minimum of 6 years.
Requirements
Investors must have a high net worth and sufficient means to support themselves and his or her direct dependents without the necessity of working in the country.
Restricted Nationalities
No nationality is officially restricted
dual citizenship
Dual citizenship is not recognized in Bahamas. To become a citizen of Bahamas, you must renounce your previous nationality.
Documents Required
Certified copy of passport
Original Police Clearance Certificate
Two Personal References
Original or Certified copy of Marriage Certificate (if applicable)
Original or Certified copy of Birth Certificate (if applicable)
The Commonwealth of the Bahamas consists of more than seven hundred islands (of which 24 are inhabited and more than 700 uninhabited), cays and islets in the Caribbean Sea and Atlantic Ocean, located to the north of Cuba and Dominican Republic, northwest of the Turks and Caicos Islands, to the southeast of the state of Florida and east of the Florida Keys. Geographically the Bahamas form, along with the Turks and Caicos Islands, the Lucayan Archipelago, also denominated by extension as the Bahamas.
It has a population of almost 400,000 inhabitants. Its capital and most populated city is Nassau, located on the island of New Providence. Its official language is English, although Bahamian Creole is widely spoken. Its official currency is the Bahamian Dollar, pegged to the US Dollar at an exchange rate of 1:1.
Visa Free Travel
With your new passport from Bahamas you'll be able to access 157 countries visa free
Taxes
The Bahamas is a true tax haven. There are no direct taxes such as personal income tax, corporate income tax or net worth tax.
The Bahamas levy a real property tax up to 2% for land and building owners, although several exemptions may apply.
There is also a stamp duty on the transfer of certain assets and financial instruments.
In addition, in the Bahamas it is possible to incorporate an International Business Company, where besides being tax exempt, benefits from privacy, confidentiality and low accounting requirements.
To learn more about the Bahamas corporation legal framework and taxation, visit incorporations.io/bahamas
This should not be construed as tax advice. We have access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.
Our qualified attorney in the Bahamas will handle all paperwork, and guide you through each step of the process to ensure that it is as fast, efficient and pain-free as possible.
First, our lawyers will conduct a due diligence check on you to ensure that you are eligible and meet the criteria to apply for the program and that your application will be approved.
If you have not purchased a residential property yet, we may offer you different options and get in touch with several developers.
Once you purchased the property you will receive a homeowner card. This card will allow you to travel to the Bahamas visa-free, and remain in the country during the duration of the card. After this, you will be eligible to apply for the permanent residency.
We will send you the application forms and provide assistance to complete the questionnaires, translate and authenticate documents. You must do a medical examination (we may recommend clinics in your jurisdiction) and provide us the medical assessment. After that, you will be ready to undergo fingerprints procedures.
We will handle all paperwork with the Bahamas government, which will conduct a due diligence check. Once your application is approved, you will receive permanent residency certificate. The whole process may take within 4-6 months.
For further information on the Bahamas immigrant investor program and detailed procedures, contact us for a free private consultation.
