Buying Real Estate in the Bahamas
Restrictions on foreign property ownership
Foreigners may acquire residential property in the Bahamas of up to 5 acres without prior government approval. These purchases must be registered in accordance with the International Persons Landholding Act.
Purchasers of second homes are eligible for a Home Owners’ Residence Card, which is renewable annually. The card facilitates entry into the Bahamas and entitles the owner and the owner’s family to enter and remain in the Bahamas for the duration of the validity of the card. Application for the card can be made to the Director of Immigration.
Costs at time of purchase
A 2% stamp tax is charged on property sales up to and including $20,000. The tax goes up in graduated amounts, peaking at 10% on sales over $250,000. The tax is customarily shared equally between buyer.