How to Buy a Home in the Bahamas

by Priscilla Hudson | Apr 4, 2025 | Bahamas Living, For Investors

How to Buy a Home in the Bahamas

The Bahamas is a dream destination for many, with its clear waters, year-round sunshine, and relaxed island lifestyle. Whether you are looking for a vacation retreat, a retirement home, or an investment property, buying a home in the Bahamas can be a rewarding experience. However, the process involves specific legal and financial steps that potential buyers should understand. This guide provides a step-by-step overview of how to buy a home in the Bahamas.

1. Understand the Real Estate Market in the Bahamas

Before purchasing a home, it is essential to familiarize yourself with the Bahamian real estate market. Property prices can vary significantly depending on location, property type, and amenities. Some of the most popular islands for homebuyers include:

New Providence (Nassau): The economic hub with the most amenities. It is also the closest major Bahamian island to the United States, located approximately 180 miles southeast of Miami, Florida. Direct flights from major U.S. cities make it accessible for American buyers.
Paradise Island: Known for luxury resorts and high-end properties.
Grand Bahama: Offers more affordable real estate options.
Exuma & The Abacos: Ideal for private, tranquil living with stunning beaches.
Eleuthera: A favorite for those seeking a laid-back, tropical paradise.
The Berry Islands (including Bimini): These islands are known for their proximity to Florida, with Bimini being just 50 miles from Miami. This makes them a popular choice for boaters and weekend retreats, offering a mix of luxury properties and more secluded beachfront homes

2. Determine Your Budget and Financing Options

Property prices in the Bahamas range from affordable homes to multi-million-dollar luxury estates. Consider these key financial aspects:

Cash vs. Mortgage: Foreign buyers can obtain mortgages from Bahamian banks, though they may require a substantial down payment (30-40%).
Property Taxes: The Bahamas does not impose capital gains tax, inheritance tax, or corporate tax, but there is a property tax system based on property value.
Legal and Closing Costs: Buyers should budget for legal fees (2.5% of the purchase price) and stamp duty (ranging from 2.5% to 10% depending on the property value)

3. Work with a Licensed Real Estate Agent

A licensed Bahamian real estate agent can be a valuable resource in helping you navigate the market. Agents are familiar with local regulations and due diligence requirements for foreign investors, property values, and available listings. The Bahamas Real Estate Association (BREA) regulates real estate professionals and ensures compliance with local laws.

4. Choose the Right Property

Once you have set your budget and found a dependable real estate agent, begin searching for a property that meets your needs. Consider:

Location: Proximity to beaches, airports, and essential amenities.
Infrastructure: Availability of utilities such as water, electricity, and internet.
Resale Value: Areas with high rental demand tend to have better long-term investment potential.
Community and Lifestyle: Some areas offer a quiet, secluded retreat, while others provide a vibrant social scene.

5. Make an Offer and Sign a Sales Agreement

Once you have chosen a property, your real estate agent will help you make an offer. If the seller accepts, you will sign a legally binding sales agreement. At this stage, you typically pay a deposit (usually 10% of the purchase price) to secure the property.

6. Obtain Legal Assistance and Conduct Due Diligence

Hiring a Bahamian attorney is crucial for conducting due diligence on the property. Your attorney will:

Verify the property title to ensure no liens or disputes.
Ensure compliance with Bahamian property laws.
Prepare and review all legal documents.

7. Secure Permits and Approvals

Foreigners can purchase property in the Bahamas, but there are certain legal requirements:

For properties under 5 acres, no government approval is needed, but the purchase must be registered with the Bahamas Investment Authority (BIA).
For properties over 5 acres or commercial investments, you must obtain a government permit.
For rental properties: If you plan to rent your home, you need a business license from the Bahamian government.

8. Restrictions and Requirements

Foreign ownership of property in the Bahamas comes with specific restrictions and legal requirements. Understanding these rules is crucial to navigating the market successfully.

Designated Areas for Foreign Buyers: Foreign nationals are encouraged to purchase properties in designated areas, often within resort developments or specific investment zones. While foreigners can buy property outside these zones, additional approvals may be required.
Government Approval Process: Buyers must apply for government approval through the Investment Board, which reviews applications to ensure compliance with Bahamian regulations. This process may introduce delays, making it essential to prepare all required documentation and understand the associated fees.
Mortgage Challenges: Foreign investors seeking mortgages may face different lending requirements compared to Bahamian residents. Banks typically require higher down payments (30-40%) and may impose stricter financial scrutiny.

By understanding these restrictions and requirements, buyers can better manage their expectations and reduce potential challenges in securing property in the Bahamas.

9. Close the Sale

Once all legal checks and approvals are completed, the last step is closing the sale. The balance of the purchase price is paid, and ownership is transferred to you. The property is then registered in your name, and you will receive your deed.

10. Pay Taxes and Fees

There are a few additional costs to bear in mind when buying property:

Stamp Duty: A one-time tax shared between the buyer and seller.
Legal Fees: Typically, around 2.5% of the property price.
Annual Property Tax: Ranges from 0.75% to 2% depending on property value.

11. Enjoy Your New Home!

After completing the purchase, you can begin settling into your new home in the Bahamas. Whether it is a permanent move, a vacation retreat, or an investment property, owning a home in this tropical paradise is a rewarding experience.

Final Tips

Always work with licensed professionals, including real estate agents, attorneys, and financial advisors.
Consider visiting the property in person before making a purchase.
Be mindful of hurricane risks and insurance requirements.
Research visa and residency options if you plan to live in the Bahamas full-time.

By following these steps, you can successfully navigate the process of buying a home in the Bahamas and enjoy the island lifestyle of which you have always dreamed.

Resources:

Priscilla Hudson Broker Agent

Realty One Group Nassau

Our real estate agency is here to assist you in finding homes and properties for sale and investing in the Bahamas.

We work with reputable legal and financial advisors.

Snorkeling in the Bahamas

by Priscilla Hudson | Jan 27, 2025 | Bahamas Living, For Investors

Snorkeling in the Bahamas: An Underwater Adventure

The Bahamas provides an unmatched snorkeling experience because of its crystal-clear seas and abundant marine life. Picture yourself sailing over the warm, azure waters while encircled by schools of exotic fish and vibrant coral reefs. As you explore this underwater sanctuary, you are guided by the soft swing of the ocean currents.

The tranquility that snorkeling in the Bahamas offers is among its most alluring features. The only sounds you hear while floating over the coral gardens are the steady breathing through your snorkel and the sporadic splash of a passing fish. It’s a meditative experience that enables a deep connection with nature.

Some of the world’s most varied marine environments may be found in the Bahamas. Every snorkeling location provides a different window into the underwater world, from the colorful coral reefs of Andros Island to the enigmatic blue holes of Exuma’s. You may come across playful dolphins, elegant sea turtles, or perhaps the elusive Caribbean reef shark.

For those new to snorkeling, the Bahamas provides an ideal setting to learn. The calm, shallow waters are perfect for beginners, and many resorts offer guided snorkeling tours to ensure a safe and enjoyable experience. Whether you’re a seasoned snorkeler or a first-timer, the Bahamas promises an unforgettable adventure beneath the waves.

But the allure of the Bahamas doesn’t end with its underwater wonders. The same pristine environment that makes snorkeling so captivating also makes the Bahamas an attractive destination for property investment. Imagine owning a piece of this paradise, where you can wake up to the sound of the ocean and enjoy world-class snorkeling right at your doorstep.

Investing in property in the Bahamas offers a unique blend of lifestyle and financial benefits. The country’s stable economy, favorable tax policies, and growing tourism industry make it an appealing choice for investors. Whether you’re looking for a vacation home, a rental property, or a long-term investment, the Bahamas provides a range of options to suit your needs.

Moreover, owning property in the Bahamas allows you to immerse yourself in the island lifestyle. Picture yourself enjoying the vibrant local culture, indulging in fresh seafood, and exploring the natural beauty of the islands. With its stunning beaches, warm climate, and friendly community, the Bahamas offers a quality of life that is hard to match.

In conclusion, snorkeling in the Bahamas is not just an unforgettable experience; it’s also a gateway to discovering the potential of property investment in this tropical paradise. By combining the joys of underwater exploration with the benefits of owning a piece of the Bahamas, you can create a truly enriching and rewarding lifestyle.

Resources:

Priscilla Hudson Broker Agent

Realty One Group Nassau

Our real estate agency is here to assist you in finding homes and properties for sale and investing in the Bahamas

Bahamas Immigration Policies and Taxes

by Priscilla Hudson | Jan 10, 2025 | Bahamas Living, For Investors

Bahamas Immigration Policies and Taxes

There are certain provisions that must be adhered to concerning the
immigration policies in the Bahamas and for those interested in Bahamas real estate.

International Homeowners

Overseas investors may acquire up to five acres of residential property in The Bahamas without prior government approval.

However, in compliance with the International Persons Act, such purchases must be recorded.

Landholding Act. Foreign homeowners are eligible for a ‘Homeowners Residence Card’, renewable annually for a small fee. This card will facilitate entry into The Bahamas and entitle the owner, his/her spouse, and minor children to enter and remain in The Bahamas for the duration of the validity of the card. An application may be made to the Director of Immigration.

Annual or Permanent Residence

Accelerated consideration of applications for annual or permanent residence will be given to major international investors and owners of residences valued at $500,000 or more.

Work Permits

If setting up a business in The Bahamas, necessary work permits for key personnel will be granted. It is advised that companies that need permits for individuals other than essential staff members speak with The Bahamas Investment Authority beforehand.

The Process

To clean the banking system from any funds generated through criminal or illegal activity, the purchase of a property by a foreign and local citizen requires the satisfaction of certain requirements:

The Verification of Transaction by Individual

Full and Correct Name
Full Permanent Address
Date and Place of Birth
Nationality
Occupation and Name of Employer (if self-employed, the nature of the self-employment):
Copies of the first four pages of passport
The moneys to be provided by me are to assist in the purchase of:
Authorization from you to obtain independent verification of any information provided:
The source of my income or wealth is from:
The proposed purchase of (describe property)

11. You will be required to sign this declaration

This type of information will be asked of the potential purchaser. After all the documentation is prepared, it is then submitted with the Foreign Investment Board and Central Bank of the Bahamas for approval.

These two entities have the final approval. Their work schedule is separate from the attorneys and the realtors who have initiated and are processing all other documentation. It is not possible to determine the exact length of time these boards will take in deciding.

The Foreign Investment Board is the board that will have to approve the investment where a foreign investor is involved.

Resources:

Priscilla Hudson Broker Agent

Realty One Group Nassau

Our real estate agency is here to assist you in finding homes and properties for sale and investing in the Bahamas.

We work with reputable legal and financial advisors.

The Bahamas is a Boaters Paradise

by Priscilla Hudson | Jan 10, 2025 | Bahamas Living

Boating destinations in the Out Islands of the Bahamas can be an exciting venture, as these islands offer some of the most scenic and boater-friendly locations in the Caribbean. Here is a guide to some top spots for boaters:

Abaco Islands

Highlights: Known as the “Sailing Capital of the Bahamas,” the Abaco Islands are a boater’s paradise with calm seas, beautiful anchorages, and charming cays. The Sea of Abaco provides protected waters ideal for sailing.
Must-Visit Spots: Marsh Harbour, Hope Town (Elbow Cay), Green Turtle Cay, and Man-O-War Cay.
Activities: snorkeling, fishing, visiting quaint villages, and enjoying local eateries.

Exuma’s

Highlights: This chain of over 365 cays is perfect for island hopping. The Exuma’s are famous for their turquoise clear waters, deserted beaches, and unique attractions like the swimming pigs at Big Major Cay.
Must-Visit Spots: Staniel Cay, Warderick Wells (Exuma Cays Land and Sea Park), and Compass Cay (for swimming with nurse sharks).
Activities: exploring sandbars, snorkeling in Thunderball Grotto, and visiting the Exuma Cays Land and Sea Park.

Eleuthera and Harbour Island

Highlights: Eleuthera’s long coastline offers numerous anchorages and beaches, while nearby Harbour Island is known for its chic resorts and Pink Sands Beach.
Must-Visit Spots: Governor’s Harbour, Spanish Wells, and Harbour Island.
Activities: beachcombing, exploring historical sites, and enjoying the local culture.

Andros Island

Highlights: The largest island in the Bahamas, Andros is a boater’s dream with its blue holes, mangroves, and extensive coral reefs. It is ideal for those seeking adventure and nature.
Must-visit spots: Fresh Creek, the Andros Barrier Reef, and the Tongue of the Ocean.
Activities: diving, fishing, and exploring the island’s natural wonders.

Berry Islands

Highlights: The Berry Islands are a hidden gem for boaters looking for tranquility and excellent fishing spots. Often referred to as the “Fishbowl of the Bahamas.”
Must-Visit Spots: Great Harbour Cay, Chub Cay, and the deserted beaches of Hoffman’s Cay.
Activities: deep-sea fishing, exploring blue holes, and enjoying quiet anchorages.

Cat Island

Highlights: Cat Island offers a mix of secluded beaches and cultural heritage sites. It is less crowded, making it perfect for boaters seeking solitude.
Must-Visit Spots: New Bight, Port Howe, and Arthur’s Town.
Activities: Exploring Mount Alvernia (the Hermitage), snorkeling, and relaxing on remote beaches.

Long Island

Highlights: With its stunning coastlines and historical sites, Long Island is ideal for boaters who enjoy exploring both land and sea.
Must-visit spots: Clarence Town, Deadman’s Cay, and Salt Pond.
Activities: Visiting Dean’s Blue Hole, fishing, and exploring caves and historical ruins.

Bimini

Highlights: The closest Bahamian island to the U.S., Bimini is a popular spot for boaters looking for a quick getaway. It is known for its rich history and vibrant marine life.
Must-Visit Spots: Alice Town, North Bimini, and South Bimini.
Activities: fishing, diving the Bimini Road (Atlantis legend), and enjoying local seafood.

Inagua

Highlights: For the more adventurous boater, Inagua offers remote beauty and wildlife, including the largest flamingo population in the Caribbean.
Must-visit spots: Matthew Town and the Inagua National Park.
Activities: bird watching, exploring salt ponds, and enjoying the island’s remote anchorages.

Boating Tips for the Out Islands:

Navigation: Many areas have shallow waters, so careful navigation with updated charts is essential.
Weather: Check weather forecasts regularly, as conditions can change rapidly.
Customs and Regulations: Ensure all documentation is in order and be familiar with the customs and immigration processes.
Provisioning: Some islands have limited resources, so stock up on supplies in larger ports before heading to more remote areas.

These destinations offer boaters a mix of adventure, beauty, and relaxation, making the Out Islands a must-visit for anyone exploring the Bahamas by sea.

Priscilla Hudson Broker Agent

Realty One Group Nassau

Our real estate agency is here to assist you in finding homes and properties for sale and investing in the Bahamas

Places to Visit in The Bahamas in 2025

by Priscilla Hudson | Jan 10, 2025 | Bahamas Living

The Bahamas, an archipelago of over seven hundred islands and cays, offers a diverse array of attractions for travelers in 2025.

For a serene escape to the Out Islands of the Bahamas, you will find a wealth of tranquil, laidback destinations that offer natural beauty and a slower pace of life. Here is a guide to some of the best quieter spots. Here are some top destinations to consider:

Eleuthera

Highlights: Known for its pink sandy beaches and colonial charm, Eleuthera is perfect for those seeking peace and picturesque views. Visit the Glass Window Bridge for stunning sea vistas or relax at the serene French Leave Beach.
Activities: beachcombing, exploring quaint settlements, and enjoying local Bahamian cuisine.

Harbour Island

Highlights: Famous for its Pink Sands Beach, Harbour Island offers a mix of luxury and tranquility. The island’s small size and charming pastel-colored cottages create a cozy, welcoming atmosphere.
Activities: horseback riding on the beach, boutique shopping, and dining at intimate waterfront restaurants.

Cat Island

Highlights: Known for its lush greenery and rolling hills, Cat Island is an unspoiled paradise. It is home to Mount Alvernia, the highest point in the Bahamas, where you can find The Hermitage, a historic stone monastery.
Activities: hiking, exploring historical ruins, and enjoying secluded beaches.

Long Island

Highlights: Long Island offers a mix of dramatic cliffs and serene beaches. Dean’s Blue Hole, one of the world’s deepest underwater sinkholes, is a must-visit for diving enthusiasts.
Activities: diving, fishing, and exploring local settlements like Clarence Town.

Great Guana Cay (Abaco)

Highlights: A small, friendly island known for its stunning beaches and the laidback vibe of Nipper’s Beach Bar. It is an ideal spot for those who want to experience the Bahamas way of life without the crowds.
Activities: snorkeling, fishing, and enjoying local festivals.

Acklins and Crooked Islands

Highlights: These twin islands are remote and sparsely populated, offering an authentic escape. The natural beauty includes vast bonefishing flats, caves, and untouched beaches.
Activities: bone fishing, exploring historical landmarks, and experiencing the solitude of nature.

Mayaguana

Highlights: One of the least developed islands in the Bahamas, Mayaguana is ideal for those seeking solitude and unspoiled nature. The island’s beaches are pristine, and the local culture is vibrant.
Activities: bird watching, hiking, and relaxing on secluded beaches.

Inagua

Highlights: Home to the Inagua National Park, this island is a birdwatcher’s paradise, particularly for flamingo enthusiasts. The island’s salt industry and natural beauty offer a unique, off-the-beaten-path experience.
Activities: bird watching, exploring salt ponds, and enjoying quiet coastal retreats.

These Out Islands are perfect for travelers seeking a quieter, more relaxed vacation away from the bustling tourist hubs. Each offers a unique blend of natural beauty, cultural heritage, and the quintessential laidback Bahamian lifestyle.

Each of these destinations provides a unique glimpse into the beauty and culture of the Bahamas, ensuring a memorable visit in 2025.

Resources:

Priscilla Hudson Broker Agent

Realty One Group Nassau

Our real estate agency is here to assist you in finding homes and properties for sale and investing in the Bahamas