Abaco Buying Guide

The Bahamas Property Ownership Policy states that Non-Bahamians who do not already own property in the Bahamas and who are planning to buy less than five acres for family use will only need to register their investment with the government. If Non-Bahamians choose to purchase improved property under 2 acres which is developed as a single family home the same principle will also apply.

Second home owners in the Bahamas who are able to support themselves and their dependents and can prove their good character may apply for an annual home owner's resident card. The residents card will be issued for a fee once all checks have been carried out.

A government permit will be required when a person wants to purchase a home for anything other than single family use and/or is over 2 acres.

Exemptions from property duty:

• Property that is owned by Bahamians and situated in the Family islands.
• Property approved as commercial farm land (by the Minister of Agriculture and Marine Resources and the Minister Finance) may be eligible for property tax exemptions.
• Unimproved property owned by Bahamians (property without any physical additions or alterations or any works benefiting the land which have not increased the value thereof by $5,000 or more.
• Places of worship, school buildings, gardens and play areas.
• Property owned by foreign governments
• Property owned by foreign nations and used for consult offices or residences of consular officials and employees.
• Property used exclusively for non profit charitable or public services.
• All property located in Freeport, Grnad Bahama

Owner Occupied Rentals

Owner occupied rentals are homes that are used by the owner as a dwelling houses on a permanent or seasonal basis. Owners of such properties with more than one bedroom are required to collect a 6% hotel guest tax from their tenants. Licenses to rent this type of property must be obtained through the local Family Island Administrator Office, or the Hotel Licensing Department of the Bahamas Ministry of Tourism and Aviation in Nassau, Bahamas.

Applications for Residency and Visa's

Major International owners of property valued at $500,000 will receive quick consideration for their annual or permanent residency permits. All applicants must be of good character, show evidence of financial support and submit in writing their wish to live permanently in the Bahamas. Wives and dependents (under 18 years) who are usually resident in a household may be endorsed on the certificate when the original application is made. For details contact:

Immigration:

Citizens of the USA, United Kingdom and Canada do not require visas providing their stay does not exceed 3 weeks and that they have a return ticket to leave the Bahamas. US Citizens no not need visas if their stays are less than 8 months. Bahamas Immigration Department permits are required if an individual wishes to reside, work or engage in ant business in the Bahamas.