Yes, it is possible for non-Bahamians to purchase property for sale in The Bahamas. The country has a long history of welcoming overseas investors, and the process of buying property as a foreign national is relatively straightforward.

Under the International Persons Landholding Act, foreigners are permitted to purchase residential real estate for sale of up to two acres without prior government approval. This means that you can buy your dream home, a vacation property, or an investment property without having to go through a long and complicated approval process.

The process of purchasing property as a foreign national typically starts with finding a suitable property and negotiating a fair price with the seller. Once a purchase agreement is reached, the next step is to have the property registered in accordance with the International Persons Landholding Act.

This typically involves obtaining a legal opinion from a Bahamian attorney, providing proof of identity and nationality, and paying a stamp duty of 5% of the purchase price. Once the registration is complete, the property will be transferred to the new owner, and the transaction will be recorded in the public land register.

It’s important to note that while the process of buying property as a foreign national is relatively straightforward, it’s always a good idea to work with a local real estate agent who has experience helping overseas investors. A good real estate agent will be able to guide you through the process, help you find a suitable property, and provide you with the necessary legal and administrative support.

At Serenity Beach Resort, we specialize in helping overseas investors buy property in The Bahamas. Our team of experienced real estate professionals has a deep understanding of the Bahamian market and can help you find the perfect property to suit your needs. Contact us today to start your search.

As a US citizen, you have the option to live full time in The Bahamas as a permanent resident owning real estate. To obtain permanent residence status in the Bahamas, you will need to apply for it through the Bahamas Immigration Department after closing on your real estate. The application process typically involves submitting a number of documents, including proof of identity, proof of financial support, and a police clearance certificate.

Once your application for permanent residence is approved, you will be issued a permanent residence certificate, which is valid for a lifetime. This certificate grants you the right to live, work and establish business in the Bahamas as long as you own real estate.

It’s important to note that while permanent residence status grants you the right to live in the Bahamas full-time, it does not grant you the right to vote in national elections. However, you will have the right to work, own real estate, and enjoy all the other benefits of living in the Bahamas.

As a permanent resident, you will also be required to comply with certain legal obligations, such as paying taxes, registering for national insurance, and renewing your residence certificate every five years for those owning real estate.

To maintain your permanent residence status, you will need to comply with certain residency requirements including owning real estate. You will need to spend at least 183 days in the Bahamas each year, and you will need to renew your residence certificate every five years.

The Bahamas is considered to be a tax-free country for US citizens, which means that residents and non-residents are not subject to income tax on their earnings. This can be an attractive option for US citizens who are looking to lower their tax bills and own Bahamas real estate.

It’s important to note that while the Bahamas does not impose income tax, US citizens are still required to file US taxes. The United States has a citizenship-based taxation system, which means that all US citizens are required to file taxes, regardless of where they live. This means that while you may not have to pay taxes to the Bahamas government, you will still need to file US taxes and pay any taxes due to the US government.

However, US citizens may be eligible for certain tax benefits and deductions when living abroad, such as the foreign earned income exclusion and the foreign tax credit. These benefits can help to reduce the overall tax burden for US citizens living and working in the Bahamas who one real estate.