The Insider's Guide to Buying Property in The Bahamas

Welcome to the 7th Heaven Properties guide to buying property in The Bahamas, your essential companion for navigating the enchanting appeal of this extraordinarily beautiful archipelago.

Known globally for its crystal-clear waters, exceptional beaches and high standard of living, The Bahamas has one of the most well established and diverse real estate markets in the Caribbean, ranging from the more affordable to ultra-luxury and everything in between.

Discover the beauty of this incredible island chain, find out why property buyers are investing in real estate in The Bahamas and delve into the real estate market with a showcase of property listings and blog posts highlighting the country’s unique charm and advantages.

From the ins and outs of buying property in The Bahamas to an essential overview of relevant taxes, this is your ultimate go-to resource.

Abaco, Bahamas Woman on the beach in The Bahamas

Overview - The Bahamas Real Estate Market

The Bahamas: An Archipelago of Endless Possibilities

The Bahamas, an enchanting archipelago consisting of more than 700 islands and cays, serves as a true paradise nestled in the Atlantic Ocean. Boasting mesmerizing turquoise waters, pristine white-sand beaches, and lush tropical landscapes, this captivating destination offers property buyers the ultimate Caribbean lifestyle infused with vibrancy and luxury.

A Diverse Real Estate Market: From Cozy Cottages to Private Islands

The Bahamian property market caters to an array of preferences and budgets, offering a diverse range of real estate options. Modestly priced condos and townhouses, charming beach cottages, and opulent estates are available across the islands. For the ultimate in exclusivity, private islands present a once-in-a-lifetime opportunity to own a personal sanctuary in this tropical haven.

Island-Hopping Paradise: A Multitude of Choices for Homebuyers

With numerous islands to choose from, The Bahamas offers an unparalleled variety of settings for property buyers. From the bustling capital of Nassau on the island of New Providence to the laid-back charm of the Out Islands, there is a perfect island for everyone. Popular destinations for property investment include Paradise Island, Grand Bahama, Abaco, and Eleuthera, each with its unique blend of natural beauty, attractions, and amenities.

A Stone’s Throw from the USA: Easy Access and Connectivity

The Bahamas’ close proximity to the USA makes it an ideal Caribbean destination for property buyers. With regular flights from major US and Canadian cities to Nassau and other Bahamian islands, accessibility is a significant advantage. This convenient location allows quick and easy access to the tropical island lifestyle from North America.

Embracing the High Life: Sophisticated Amenities and a High Standard of Living

The Bahamas offers a high standard of living, with excellent amenities and services that cater to the needs of discerning property buyers. World-class marinas, upscale shopping centers, fine dining, and championship golf courses are among the many attractions that elevate the Bahamian living experience. High-quality healthcare facilities and well-regarded international schools make The Bahamas an attractive option for families and retirees.

Tax Advantages: A Haven for Savvy Property Investors

The Bahamas’ favorable tax environment is another significant draw for property buyers, offering numerous advantages such as no income tax, capital gains tax, or inheritance tax. This tax-friendly atmosphere makes it an appealing destination for investors and those seeking to optimize their financial portfolios.

Celebrating Bahamian Culture: A Melting Pot of Traditions

The Bahamas’ vibrant culture, with its diverse influences, creates a fascinating tapestry of traditions. From the pulsating rhythms of Junkanoo to the island’s rich culinary scene, Bahamian culture is an integral part of the island’s allure. Property buyers are drawn to the warm, friendly nature of the Bahamian people, which adds to the welcoming atmosphere of this island paradise.

A Showcase of Natural Wonders: Explore The Bahamas’ Pristine Beauty

The Bahamas is home to an abundance of natural wonders that captivate residents and visitors alike. From the breathtaking blue holes of Andros to the extraordinary Exuma Cays Land and Sea Park, the islands offer endless opportunities for exploration and adventure. The pristine waters surrounding The Bahamas are also renowned for their exceptional snorkeling, diving, and fishing experiences.

In conclusion, The Bahamas offers an unparalleled Caribbean experience, capturing the hearts and minds of discerning property buyers. Its countless islands, breathtaking beaches, crystal clear waters, high standard of living, tax advantages, and proximity to the United States all contribute to the archipelago’s magnetic appeal. With a diverse real estate market that encompasses modestly priced condos and townhouses, charming beach cottages, opulent estates, and even private islands, The Bahamas is the perfect canvas for creating your dream tropical sanctuary. Immerse yourself in this captivating island destination and embrace the abundant possibilities that await in the alluring world of Bahamian real estate.

“Its countless islands, breathtaking beaches, crystal clear waters, high standard of living, tax advantages, and proximity to the United States all contribute to the archipelago’s magnetic appeal”

Why Invest?

1 / 7

700 jaw-droppingly beautiful beach-fringed islands dotted in the sparkling turquoise Atlantic Ocean.

2 / 7

Highly attractive tax incentives, such as freedom from income tax, VAT, inheritance tax and capital gains tax.

3 / 7

Sophisticated, stable real estate market with a wide variety of waterfront homes available from affordable to ultra-luxury with the option of applying for permanent residency.

4 / 7

Growing tourism sector providing income generating potential for property owners that choose to rent their homes to visitors – A record 1.78 million stayover tourists visited The Bahamas in 2019.

5 / 7

Short, direct international flights from the USA and Canada to various airports in The Bahamas including Nassau, Great Exuma and Grand Bahama.

6 / 7

A dream destination for beach lovers, yachting enthusiasts and fans of all kinds of water sports.

7 / 7

World-class resorts, golf courses, restaurants, spas, shopping and casinos to keep you entertained day and night.

Buying Process, Fees & Taxes

Can foreigners buy property in The Bahamas?

Yes, foreigners can buy property in The Bahamas and the Government of The Bahamas welcomes investment from overseas buyers. There are no restrictions on foreign buyers acquiring real estate in The Bahamas and foreign buyers enjoy the same rights as Bahamian citizens, including the right to purchase beachfront land. Unlike other destinations in the Caribbean, a license or permit is not required, except for buyers purchasing over 2 acres, purchasing with the intent to rent out the property or purchasing for commercial development.

Buying process

Buying property in The Bahamas is a relatively simple process, which typically involves the following steps:

  1. Begin your property search.
  2. Find your perfect property and make an offer.
  3. Once you have made an offer on a property and that offer has been accepted, we would recommend that you seek advice from a local lawyer to ensure all title documents are in order.
  4. A sales contract will be drawn up and, once agreed and signed, you will need to pay a 10% deposit.
  5. Buyer to transfer the balance of the purchase price and pay all required taxes.
  6. Non-Bahamians should register their investment with the Exchange Control at the Central Bank of The Bahamas to ensure that on resale they will be able to remit the net proceeds of the sale outside The Bahamas in the currency of the original investment.
Fees & taxes

Stamp Duty

To purchase real estate in The Bahamas, buyers are required to pay Stamp Duty which varies as follows according to the value of the property:

  • Up to $100,000: 2.5%
  • Over $100,000: 10%

Payment of Stamp Duty is normally split equally between buyer and seller.

12% VAT (Value Added Tax) is applied to real estate services, such as appraisals, legal services, commissions, and insurance.

Legal Fees

We would recommend that you seek independent legal advice from a local attorney who will be able to guide you through the property transfer process.

Legal fees are paid by both buyer and seller at a rate of 2.5%.

Real Property Tax

Property owners are required to pay an Annual Real Property Tax which is paid according to the value of the property.

Real Property tax rates are calculated as follows…

Owner-occupied property:

  • On the first $250,000 of market value: 0%
  • On the next $250,000 up to $500,000 of market value: 0.625%
  • On the next $500,000 up to $5,000,000 of market value: 1%
  • On the part above $5,000,000 of market value: 0.5% (capped at $50,000 p.a.)

Unimproved property:

  • On the first $7,000 of market value: $100
  • On the part above $7,000 of market value: 2%

Any other property:

  • On the first $500,000 of market value: 1%
  • On the part above $500,000 of market value: 2%

Certain kinds of property are exempt from Real Property Tax including property owned by Bahamians in the Family Islands and property owned by foreign governments.

Residency & Citizenship

How long can a foreign citizen stay in The Bahamas?

Citizens of the USA, Canada, EU and the UK may stay in The Bahamas for several months without a visa.

How do you become a resident of The Bahamas?

Home Owners Resident Card

Non-Bahamians who purchase property in The Bahamas can apply to the Department of Immigration for a Home Owners Resident Card. The card allows the holder (and family) to enter and remain in The Bahamas for the duration of the period of the permit.

Permanent Residence Permit

Foreign buyers investing a minimum of $750,000 in real estate in The Bahamas can apply for a Permanent Residence Permit.

Accelerated Consideration for Permanent Residence Permit

Through an investment of $1.5 million in property in The Bahamas, investors can benefit from accelerated consideration for Permanent Residency Permits. Permanent residents of The Bahamas may remain in The Bahamas without restriction and benefit from The Bahamas’ tax benefits.

Residency in The Bahamas

Find out more: Residency in The Bahamas

How do you become a citizen of The Bahamas?

If you have been a legal permanent resident of The Bahamas for 10 years (7 years in the case of those married to a Bahamian citizen) and you are of independent financial means, you can apply for citizenship of The Bahamas.

Mortgages in The Bahamas

Looking for financing to fund the purchase of property in the Caribbean?

Contrary to popular misconception, it is possible for foreign nationals looking to invest in The Bahamas to apply for a mortgage.

Our partner – a very well respected international financial organization – offers mortgages for qualifying non-residents buying, building or improving a second home in The Bahamas.

Find out more: Caribbean mortgages

How to get a mortgage in the Caribbean

How to Get There

There are regular direct flights to The Bahamas from the USA, Canada, the UK and various other parts of the Caribbean, such as Jamaica.

Most international flights arrive at the airport in Nassau’s Lynden Pindling International Airport.

From North America, you can fly direct from cities including Atlanta, Cincinnati, Charlotte, Fort Lauderdale, Miami, New York, Toronto and Orlando to Nassau.

There are also direct flights from the USA to the Abacos, Andros, Eleuthera, Exuma, and Grand Bahama.

Alternatively, fly to the Bahamas by private plane or arrive by private boat.

  • Miami to Nassau 55m
  • Atlanta to Nassau 2h
  • Charlotte to Nassau 2h 20m
  • New York to Nassau 3h
  • Toronto to Nassau 3h 12m
  • London to Nassau 9h 30m

More from the Blog

Discover the best Caribbean real estate investments 2024

Best Caribbean Real Estate Investments 2024

From Antigua and St Lucia to Barbados and Nevis, discover the best Caribbean real estate investments in 2024.

Read Article

Discover Four Seasons residences for sale in the Caribbean

Four Seasons Residences for Sale in the Caribbean

Searching for Four Seasons residences for sale? Discover exquisite homes for sale at Four Seasons resorts in the Caribbean islands.

Read Article

Discover marinas for sale in the Caribbean

Caribbean Marinas for Sale

Searching for Caribbean marinas for sale? Here are 3 marinas for sale in the Caribbean that are on the market right now.

Read Article

Buying an island in The Bahamas

Buying an Island in The Bahamas

Find out all about buying an island in The Bahamas our guide. Discover how and where to buy your own island or cay.

Read Article

Couple relaxing in a pool

Caribbean Dream Homes: 7 Must-See Villas

Explore the epitome of luxury with our curated selection of Caribbean Dream Homes and discover 7 must-see villas in the Caribbean.

Read Article

Couple on the beach at sunset

Rosewood Residences for Sale in the Caribbean

Experience the ultimate in Caribbean living with Rosewood Residences for sale. Discover homes for sale at Rosewood resorts in the Caribbean.

Read Article

Local weather

24° Precipitacion0.02%
Sat 23° | 27°
Sun 24° | 27°
Mon 23° | 27°
Tue 24° | 27°
Wed 24° | 27°
Thu 24° | 27°
Fri 24° | 26°

Local time

5:10PM Wednesday 24th Jul 2024 (EDT)
Sat 23° | 27°
Sun 24° | 27°
Mon 23° | 27°
Tue 24° | 27°
Wed 24° | 27°
Thu 24° | 27°
Fri 24° | 26°

Fast facts

  • Population 389482
  • Capital Nassau
  • Language English
  • Currency Bahamian Dollar
  • Time zone GMT-4 | ET