Buying an Island in The Bahamas – The Ultimate Guide
We put together this guide for investors considering buying an island in The Bahamas.
Whether you are thinking of investing in an island to enjoy unrestricted freedom in your personal private paradise or as a commercial investment for development into an exclusive resort, this guide is designed to cover all aspects of acquiring an island from finding islands for sale in The Bahamas through to the finer points of the purchase process.
Is Buying an Island in The Bahamas a Good Idea?
How Much Does it Cost to Buy an Island in The Bahamas?
Can Foreigners Own an Island in The Bahamas?
Where are the Best Places to Buy an Island in The Bahamas?
How Do you Buy an Island in The Bahamas?
Investment Opportunities – Explore Islands for Sale in The Bahamas
Purchasing an island in The Bahamas offers buyers the opportunity to own property offering unrivaled privacy, freedom and allure in breathtaking surroundings.
For those considering investing in an island for personal use, The Bahamas is undoubtedly one of the world’s best locations. Comprising 700 islands and over 2,000 smaller rocks and cays dotted like jewels across miles of turquoise ocean waters, few other destinations offer as many islands for sale as The Bahamas. Few other destinations can also rival its natural beauty and climate. The Bahamas is blessed with magnificent white and pink sand beaches, crystal clear ocean waters which offer some of the best fishing, diving and sailing in the world, and year-round warmth. All this, just a hop, skip and a jump from the Florida in the USA. Furthermore, The Bahamas is an politically and economically-stable, investor-friendly destination with attractive tax environment and pathway to permanent residency for qualifying investors.
For investors looking to buy an island with the aim of opening a private island hotel or resort, The Bahamas is also a great choice. The Bahamas is one of the region’s top tourist destinations and several well-established and successful businesses have already demonstrated the potential for private island resorts in this beautiful corner of the world.
Best of all, as real estate in The Bahamas – including most islands – can be purchased on a freehold basis by non-residents, making it one of the best destinations in the world for buying a private island.
The cost of islands in The Bahamas varies according to various factors such as location, size and whether the island offers such things as deep water access for yachts or boats, elevation for panoramic views, sufficient space for a private air strip and beautiful natural features such as sandy beaches and safe swimming waters.
Occasionally it might be possible to find a small island for sale in The Bahamas for under US $1,000,000 however they are few and far between.
Typically, prices range from approximately US £1,000,000 to $3,000,000 for a relatively small island up to US $10 to $60 million dollars for a more substantially sized private island which already benefits from being part or fully developed with existing buildings, structures, infrastructure and utilities.
Yes, foreign nationals can own an island in The Bahamas and the Government of The Bahamas welcomes foreign investment.
There are no restrictions on foreign buyers purchasing islands in The Bahamas and foreign buyers enjoy the same rights as Bahamian citizens.
Unlike in many other countries in the Caribbean and Central America, the purchase process is relatively straight forward and foreign buyers are not required to obtain any kind of license or permit in order to purchase property in The Bahamas.
Buyers receive full fee simple title and enjoy outright ownership.
The Bahamas consists of several groups of islands.
With powder-soft beaches, crystal clear blue-green waters and a longstanding reputation of welcoming and hosting the most discerning international visitors, the Exumas – which comprises a string of 365 islands and cays stretching for 93 miles (150 km) – is considered one of the best places to buy an island in The Bahamas.
Eleuthera, which comprises one main island plus a chain of smaller islands, is also popular with private island buyers. The islands are famed for idyllic white sand beaches and shallow waters offering world-class fishing, diving, snorkeling and boating.
Other areas in high demand include the Abaco Islands and the Berry Islands.
The 120-mile long Abaco island chain is renowned for offering some of the world’s best boating, sailing, diving, and bonefishing.
The 30 cays which make up the Berry Islands are famous for stunning swim-ashore beaches, spectacular dive sites and championship sport fishing, hence its nickname as “The Billfish Capital of The Bahamas.”
Buying property in The Bahamas as a non-resident is a relatively straight-forward process.
Buyers intending to use the island for residential purposes do not require any special permit.
However, Non-Bahamians must register a private island purchase with the Foreign Investments Board. Permits will be required if the island is over 5 acres in size and/or if the buyer intends to use it for rental or commercial purposes.
We would also advise non-resident buyers to ensure their attorney registers the purchase with the Central Bank of The Bahamas for exchange control purposes to allow the repatriation of the proceeds of any future sale in the original currency of the transaction.
For more detail on the purchase process, please see our guide to buying property in The Bahamas.
Ready to begin your search for private islands for sale in The Bahamas?
To browse islands and cays from across this idyllic archipelago, explore islands for sale in The Bahamas on our website.
Please note that our website only showcases a sample of the private islands available.
Contact 7th Heaven Properties, the Luxury Caribbean Property Specialist, to explore the full range of investment opportunities in The Bahamas.