Services

Qualify for economic permanent residence a person must invest a minimum of seven hundred thousand Bahamian dollars (B$750,000) in The Bahamas.

Accelerated consideration of applications is given to major international investors and owners of residences valued at one million five hundred thousand Bahamian dollar (B$1,500,000) or more a response from the Immigration Department is guaranteed within twenty one days of submission of a complete application. 

The Government’s Fee for the Permanent Residence Certificate is fifteen thousand Bahamian dollars (B$15,000) and twenty-five Bahamian dollars (B$25) for an applicant’s spouse and each minor dependent.

• Touristic resorts.
• Upscale condominium, timeshare, and second home development.
• Marinas.
• Information/data processing.
• Assembly industries.
• High-tech services.
• Ship registration, repair, and other ship services.
• Light manufacturing for export.
• Agro-Industries.
• Food Processing.
• Mariculture.
• Banking and other financial services.
• Captive insurance.
• Aircraft services.
• Pharmaceutical manufacturing.
• Offshore medical centers.

Wholesale and Retail Operations*.

• Commission agencies engaged in the import/export/trade.
• Real estate and domestic property management agencies.
• Domestic newspapers and magazines.
• Domestic advertising and public relations firms.
• Security services.
• Distribution of building supplies.
• Construction companies, except for special structures for which international expertise is required.
• Cosmetic/beauty establishments.
• Shallow water scale-fish, crustacea, mollusc, and sponge-fishing operations.
• Auto and appliance service operations.
• Public transportation.

*International investors may engage in the wholesale distribution of any product they produce locally.

• Where more than one instrument is executed as part of the collateral to secure the same loan, VAT is chargeable at the applicable rate on only one of the security instruments, and no VAT shall be assessed on any other agreement, instrument, or document delivered simultaneously with the security document chargeable to VAT. This provision only applies where the entire amount of the loan is secured by the instrument chargeable to VAT, and all security documents are submitted simultaneously for stamping.
• Every instrument for a supply of real property shall:
• From 1 October 2022, state the real property tax assessment number(s) in respect of all property to which the instrument relates;
• Be presented to the VAT department within the time prescribed by the VAT Rules; and
• Not be stamped unless all outstanding real property taxes due on the property to which the instrument relates have been paid.

Any exemptions, permissions, or approvals granted under the Exchange Control Regulations Act or the IPLA in respect of the acquisition of real property are now conditional on the payment of VAT within eighteen (18) months of becoming due. Where the VAT remains unpaid for such an eighteen (18) month period, the exemption, permission, or approval would be conclusively deemed to be rescinded but will be automatically re-instated upon payment of the unpaid VAT and any applicable fines.

Bahamian Citizens are now eligible for a refund of the VAT paid in connection with the construction or renovation of such citizen’s first home and the criteria for eligibility will be as prescribed in the VAT regulations and VAT Rules.

• Instruments relating to the acquisition of a dwelling for the first time by a Bahamian citizen where the value does not exceed $300K, a decrease from the previous amount of $500K;
• Instruments relating to the vesting of real property in a beneficiary under a trust, in accordance with the provisions of the trust;
• Instruments relating to the transfer of real property between two or more companies where at least 95% of the shares of both companies are beneficially owned by the same person; VAT would only be payable to the extent of a change in beneficial ownership; and
• Conveyances by way of assent and deeds of assent.

The new rate of VAT for the following supplies of real property are as follows:

All persons entering the Bahamas are required to have a valid passport.

• The following persons are not required to have visas when entering the Bahamas:

  • British Commonwealth citizens and landed immigrants of Canada, for visits not exceeding 30 days if in possession of Form 100.
  • US Citizens entering as visitors for a stay not exceeding eight months.
  • Alien residents of the US who, upon arrival, are in possession of their national passports and US alien registration cards and work or residence permits for visits not exceeding 30 days.
  • Nationals of a variety of countries whose visits do not exceed three months (check with the Department of Immigration for this extensive list).
  • Persons in possession of a valid residence or work permit issued by the Director of Immigration (provided a visa is not required by the departing country).
  • Persons in transit, including stateless persons in possession of a valid refugee or stateless person’s travel document, provided they are in possession of valid passports and tickets to some destination outside the Bahamas and that their stay, while awaiting onward passage on the first available ship or aircraft, does not exceed three days. This exemption does not apply to Haitian or Dominican Republic citizens, who must possess visas even in direct transit by air.

  All other persons require visas. If in doubt, check with the Bahamas Department of Immigration. Persons seeking visas to enter the Bahamas should contact the nearest Bahamian consular office.

The Bahamas Constitution and the Bahamas Nationality Act of 1973 detail the acquisition and loss of citizenship. Persons born in The Bahamas before July 10, 1973, or outside The Bahamas to a Bahamian father became Bahamian Citizens on Independence Day, July 10, 1973, as did most persons registered as a citizen of The Bahamas under the British Nationality Act of 1948. Persons born in The Bahamas after Independence are citizens if either parent is a Bahamian citizen and are entitled to register as a citizen if born here, subject to interests of national security or public policy, by making application within 12 months after his or her 18th birthday. Persons born legitimately outside The Bahamas after July 9, 1973 to a Bahamian mother and illegitimate children born outside The Bahamas to Bahamian women are entitled to apply between the ages of 18 and 21 years subject to interests of national security or public policy. Any woman married to a Bahamian is entitled to be registered as a citizen upon application, provided she is still married to that person and subject to interests of national security or public policy.

Others who are not entitled to be registered or naturalized by virtue of an existing status may apply for citizenship under the Nationality Act. Residence for a period, English proficiency, and the intention to make The Bahamas a permanent home are among the qualifications.

Annual Residency

Spouses or dependents of work permit holders, resident homeowners, spouses or dependents of citizens, and independent economic residents may apply for annual residency status. Applicants for annual residency status must show evidence of financial support in addition to submitting other documentation as required by the Department of Immigration. Fees vary, with spouses of Bahamians paying a one-time fee of $250 (no charge for dependents) for a spousal permit to reside and work, to $2000 per year for the annual residence permit for a non-Bahamian second home owner.

Permanent Residency

Those who wish to settle in The Bahamas by investing in property, retiring here, or opening a business usually apply for this status. Accelerated consideration for Permanent Residency can be obtained with a minimum property investment of $750,000. Applicants must be of good character, show evidence of financial support, and say in writing that they wish to live permanently in the Bahamas. Wives and dependent children (under age 18) who are usually residents in a household can be endorsed on the certificate when the original application is made or later, subject to conditions which may be made by the Immigration Board.

Persons with this status prior to the Immigration Act (1975) continue to hold the status automatically. Spouses of Bahamians can receive a Certificate of Permanent Residence with the right to engage in gainful employment at any time for females and after five years of marriage for males. Permanent residency can be revoked for cause, including divorce. The cost of Permanent Residence is $15,000 before issuance, with endorsements free.

The Bahamas Government tries to ensure that Bahamians are given fair consideration for employment. A work permit application is not considered if a suitably qualified Bahamian is available or if the prospective employee is already in the country and entered as a visitor. If the Immigration Board considers the prospective non-Bahamian employee will be an asset to the Bahamas, it reviews the application, but only after the prospective employer advertises and interviews locally and obtains a certificate from the Labour Exchange stating there is no qualified Bahamian registered who could fill the post. Permits for longer than one year may be given for key personnel on contract, often with an endorsement that the employee will be replaced by a Bahamian or will train a Bahamian to perform the job in a specified time.

Each work permit is for a specified person and job. Work permit fees range from $2000 to $12,500 depending on the job category.