bahamas attorney what you need to live in bahamas

How to get legal residency in the Bahamas?

lawyers practicing in The Bahamas; this list includes only those who wish to have their names appear. The order in which they appear has no other significance. NEW PROVIDENCE ISLAND AKSUM LAW CHAMBERS Mr. Keith A. Seymour Partner: Ms. Kendolyn Cartwright Address: #3 Okra Hill Road, Nassau, N.P., The Bahamas Telephone: (242) 393-5984; Fax: (242) 393 5982

What are the eligibility requirements to live in the Bahamas?

Dec 12, 2020 · Before you can apply, you must fit into one of the following categories: Be the spouse of a Bahamian citizen for at least five years Have a Bahamian mother Demonstrate financial independence AND home ownership in The Bahamas Work for the Bahamian government for at least ten years Be a religious or medical professional for at least 20 years

Is living in the Bahamas right for You?

Jun 01, 2020 · In general, a salary of 3,000 dollars is considered enough to cover the necessary monthly expenses. Of course, for anything more than mere eking out a living, you would need extra money. The Price of a Home and Average Rent Most US expats live in condos or beach houses on the New Providence, Grand Bahama, Eleuthera, or some other larger island.

Can I gain citizenship by buying a house in the Bahamas?

Oct 30, 2020 · But if your ultimate plan is to gain Bahamian citizenship, you’ll need to take a few other steps. Once you’ve become a permanent resident, you’ll have to: Maintain your permanent resident status for at least ten years, including the year prior to applying for citizenship; Live in The Bahamas for at least six years prior to the year before the application; Ready to Get …

What are the requirements to live in The Bahamas?

There are a few options for you to apply for permanent residence, the most obvious one being marriage to a Bahamian citizen. Other ways of qualifying for permanent residence are: purchasing a residence in the Bahamas. legally working or living in the Bahamas for more than 20 consecutive years.

How do you get residency in The Bahamas?

The current Bahamas immigration law does not provide a direct path to permanent residency. The applicant first obtains a residence permit or homeowner's ID card and then applies for permanent residency after one year. The new rules will allow investors to obtain permanent residency immediately.Jun 8, 2021

Can I just move to The Bahamas?

US citizens can freely enter the country via ports or one of 24 airports, but staying there is subject to the permission of Bahamian authorities. A would-be expat has to fill immigration documents and prove that they are financially stable and have no criminal record.Jun 1, 2020

How do I permanently move to The Bahamas?

For permanent residency, you will need to purchase and maintain a residence in The Bahamas at a value of $500,000 or higher. Many international homeowners are not permanent residents and they come and go as a visitor would, but do not stay more than three months at a time.Mar 30, 2016

How long does it take to get residency in Bahamas?

A legal permanent resident of The Bahamas has had that status for at least ten years, including the 12 months immediately preceding the date of application, and has lived in The Bahamas for at least six years.

How much money do you need to live in The Bahamas?

Summary: Family of four estimated monthly costs are 4,093$ without rent. A single person estimated monthly costs are 1,161$ without rent. Cost of living in Bahamas is, on average, 23.83% higher than in United States.

What documents do you need to go to Bahamas?

U.S. citizens are generally required to present a valid U.S. passport when traveling to The Bahamas, as well as proof of anticipated departure from The Bahamas. Those traveling to The Bahamas on a cruise may use another Western Hemisphere Travel Initiative (WHTI) compliant document.

How much money do you need to retire in The Bahamas?

Foreigners who want to retire in the Bahamas can apply for permanent residency if they purchase a property for $500,000 or more. In addition, any person who owns a home in the Bahamas can apply for an Annual Homeowner's Residence Card.

What is the safest island in The Bahamas to live?

Security – Eleuthera is one of the safest islands in the Bahamas. There isn't a lot of trouble here because most of the inhabitants are peaceful. People who live here also watch out for their neighbors. It is much like a very small town where everyone knows one another.May 25, 2021

Is it worth moving to The Bahamas?

There are many reasons to relocate to The Bahamas, economically, we offer a tax-friendly environment, with no income tax or capital gains tax. The climate is near perfect. With around 340 days of sunshine a year, summers that are perfect for beaching, and slightly cooler winters.

How long can a US citizen live in The Bahamas?

An American national may stay for a maximum period of eight months without a visa in The Bahamas. Should they wish to extend their stay, application must be made to the Immigration Department for an extension of stay.

Where is the best place to live in Bahamas?

Best Places to Buy Property in The BahamasParadise Island. Paradise Island is located just off the northern coast of New Providence, the most populous island in The Bahamas. ... Cable Beach. ... Eastern New Providence. ... Lyford Cay & Old Fort Bay. ... Albany. ... Eleuthera & Harbour Island. ... Exumas.Dec 9, 2019

How much does it cost to work in the Bahamas?

If you’ve found employment in The Bahamas, you’ll need a permit to work. The price for these can range from $250 to $7,500, based on the level of qualification needed for the job. To obtain a work visa, you’ll need: A completed application form.

What is the real estate in the Bahamas?

Real estate in The Bahamas ranges from city-center apartments and condos, to single-family homes, to sprawling villas and beachfront estates. If your plan for moving to The Bahamas from Canada or the US includes purchasing a home, you’ll have plenty of options to choose from.

Where is the Bahamas located?

The Commonwealth of the Bahamas is an island chain located to the southwest of Miami, just north of Cuba, Haiti and the Dominican Republic. The Bahamas is made up of 700 islands, most of which are uninhabited. The majority of its population — just under 400,000 people — live in the capital city of Nassau, on the island of New Providence.

How to get around the Bahamas?

There are 24 airports in The Bahamas, and you can choose from regular inter-island flights on the national airline or work with a private carrier.

Do you need a car in the Bahamas?

Most of the islands in The Bahamas are very small, so a car is not a necessity. That said, for those who prefer to drive, it is an option. Most major automakers have dealerships in The Bahamas.

Does the Bahamas have taxes?

The government in The Bahamas levies very few taxes on citizens and residents. There is no income tax, capital gains tax, corporate tax or estate tax. There is a mandatory payroll tax that supports the national health insurance system — much like Social Security in the US.

Do hospitals in the Bahamas pay upfront?

The first thing to note when examining medical facilities in The Bahamas is that both public and private hospitals will expect upfront payment of your medical bills. Investing in private health insurance is a wise choice.

Getting a Permit to Reside in The Bahamas

Almost any non-citizen of The Bahamas can visit the country (provided they aren’t on the country’s restricted list ), but initial visits are limited in length to 90 days. If you plan to stay longer or want to be able to travel freely in and out of The Bahamas, you’ll need to start considering Bahamas residency requirements.

Permanent Residency in The Bahamas

Bahamas temporary residence is fine if you just want to enjoy the country a little longer than a week-long holiday, but if you’re on the road to citizenship, permanent residency is the option you’ll need to choose.

The Bahamas Annual Residency Permit

If you’d like to stay in The Bahamas beyond the permitted visitation period, but don’t want to commit to home ownership or permanent residence, The Bahamas Annual Residence permit is your best bet.

Ready to Get Your Bahamas Residence Permit?

Now that we’ve covered the various ways you can apply for residency in The Bahamas, you can see that relocating to the tropical paradise is definitely within your grasp. Whether you’re a student, homeowner or someone looking at the other opportunities The Bahamas has to offer, there’s a straightforward way to gain legal residency.

What is the lifestyle of the Bahamas?

As you can imagine, Bahamians mostly live a tropical lifestyle , much aided by warm weather and crystal-clear waters. Beaches and surfing are a big thing here, as are casinos and aqua parks. The national sport is cricket, but locals also engage in golf, track and field, and sailing.

How many islands are there in Bahamas?

From nearly 700 islands, only a few dozen are inhabited. The capital city is Nassau, on the New Providence Island, and most of some 400,000 Bahamians live there. The local currency is the Bahamian Dollar, though the US Dollar is widely accepted. The official language is English, so no worries about breaking the language barrier.

Is the Bahamas more expensive than the US?

Bahamas are nominally more expensive than the US. It is a point where all expats agree. It goes both for homes and utilities, as well as for groceries. But all this can be covered by salaries in the islands’ main industries. But more about that in a second.

Do you need a work permit to work in Bahamas?

Work in the Bahamian islands is decent and well-paid, once you get it. Local labor policy protects residents, so immigrants have to acquire a work permit. Potential employers are bound by law to hire a resident before an immigrant if he or she possesses the needed skill set.

Do Bahamas have taxes?

Some Taxes Exist Over There, Too. For years now, the Bahamas has been recognized as a tax haven. There is no corporate tax, as well as estate, capital gains, wealth, or even income tax for residents and citizens. They are, however, obliged to pay into the health insurance system. Bahamians pay VAT, though, at a 12% rate.

Where do expats live?

Most US expats live in condos or beach houses on the New Providence, Grand Bahama, Eleuthera, or some other larger island. According to the statistics website numbeo.com, the country’s capital city is the most expensive in terms of real estate. A square foot of a home in Nassau’s center stands at an average of 165 dollars, while the same area in Freeport, second largest town, costs 92 dollars, on average. Rent for a small apartment in cities downtowns stands around 950 dollars in the capital, and 700 in Freeport.

Is Grand Bahama Island good for scuba diving?

Not only is the Grand Baha ma Island an excellent place for scuba diving, but there is always a chance that you’ll stumble upon a hidden beach. Furthermore, divers are in for a treat in Lucayan National Park, with its system of underwater caves. Now, if that isn’t life worth living, nothing is.

How long does it take to buy a house in the Bahamas?

Still, for those who want a general idea of how long buying a house in The Bahamas will take, the average home purchase in the country takes around two months.

What is the real estate market in the Bahamas?

The real estate market in The Bahamas spans everything from single-family homes in middle-income developments to sprawling villas on waterfront estates. Obviously, your budget and your reasons for being in the country will dictate which is most suitable for you.

When did the Bahamas remove restrictions on buying a house?

The International Persons Landholding Act of 1994 removed many of the restrictions previously placed on non-citizens buying homes in The Bahamas. There are, however, still some legal hoops to jump through when making your purchase.

When are property taxes due in Bahamas?

Property tax bills are sent out annually in October and payment is due by the end of the year. (Past-due payments will accrue additional interest charges.)

Is the Bahamas a hurricane country?

Islands in the Caribbean face some weather hazards that may not be a consideration in your home country. Hurricanes are definitely something to keep in mind when buying in The Bahamas. That said, The Bahamas is a relatively wealthy country and has robust infrastructure in place to help it weather storms.

Is buying real estate in the Bahamas difficult?

The Bahamian government welcomes foreign investment in real estate, so buying Bahamas real estate isn’t overly challenging. It’s still helpful to have an idea of how the process will go, what other parties involved in your purchase will expect of you and what you can expect from them in return.

Do you need title insurance in the Bahamas?

Title insurance, which is used in the US to protect buyers against financial loss from defects in title to real property, is not required — or even commonly used — in The Bahamas. Your attorney is responsible for confirming the validity of the property title and checking for any issues relating to it.

Do you need a passport to travel to the Bahamas?

U.S. citizens are generally required to present a valid U.S. passport when traveling to The Bahamas, as well as proof of anticipated departure from The Bahamas. Those traveling to The Bahamas on a cruise may use another Western Hemisphere Travel Initiative (WHTI) compliant document.

Is there a level 3 travel health notice for the Bahamas?

The Centers for Disease Control and Prevention (CDC) has issued a Level 3 Travel Health Notice for the Bahamas due to COVID-19, indicating a high level of COVID-19 in the country . Your risk of contracting COVID-19 and developing severe symptoms may be lower if you are fully vaccinated with an FDA authorized vaccine.

How long does a passport last in the Bahamas?

A valid passport from your country of origin of which the expiry date, after return from The Bahamas, must NOT be less than 3 months (for direct travel) and NOT less than 6 months (if transiting through other countries such as the U.S.) An original Canadian Permanent Resident CARD of which the expiry date must NOT be less than 3 months ...

How long does a Canadian passport last?

A Canadian passport, with an expiry date that is NOT less than 3 months, after leaving The Bahamas (for direct travel) and NOT less than 6 months (if transiting through other countries such as the U.S.) A return ticket.

Do you need a passport to enter the Bahamas?

Other Countries. Citizens from countries other than the U.S. and Canada are required to present a valid passport To enter The Bahamas, which must be current up to your travel period, and some countries are also required to have a Bahamas visa.

Where Is The Bahamas?

See more on bahamasguides.co

Citizenship and Residency

Finding A Place to Live

Traveling Within The Bahamas

Taxes and Finance

Healthcare and Education

Are You Moving to The Bahamas?