Start by understanding your budget, getting pre-approved, and learning the buying steps — and you can explore everything in detail in our Buyer Guide PDF.
Yes. Foreigners are welcome to buy real estate in The Bahamas. There are no restrictions on property ownership for non-residents. However, if the property is over 2 acres or intended for commercial development, a permit must be obtained from the Bahamas Investment Authority (BIA).
No. You do not need to be a Bahamian resident to purchase property. Many international buyers invest in vacation homes, rental properties, or retirement residences without residency. That said, property ownership can strengthen an application for permanent residency.
The main cost is the Stamp Duty / VAT on conveyance (usually shared equally between buyer and seller unless otherwise agreed). Once you own the property, you’ll also pay annual property taxes, unless exempt.
For owner-occupied residential properties:
- First $300,000: Exempt from tax
- $300,001 – $500,000: 0.625% annually
- Over $500,000: 1% annually
For commercial properties, tax rates differ.
Yes. A licensed Bahamian attorney is required to ensure a safe purchase. They will conduct a title search, prepare the sale agreement, and confirm the property is free of encumbrances.
On average, it takes 60–90 days from signing the sales agreement to closing. Factors such as financing approval, government permits (if required), and title searches may affect the timeline.
Yes. Local banks such as RBC, Scotiabank, and Commonwealth Bank offer mortgages to Bahamians and foreigners. Typical requirements include:
- 20–40% down payment (higher for non-residents)
- Proof of income & employment
- Credit history and references
No restrictions apply to Bahamians. Foreign homeowners are free to rent out their property but must register the rental with the Bahamas Investment Authority. Both shortterm (vacation) and long-term rentals are popular and permitted.
Yes. Foreign owners who wish to rent must obtain a permit from the BIA. Rental income earned in The Bahamas is taxable.
- Stamp Duty / VAT: Split between buyer and seller (usually 50/50).
- Legal Fees: Around 2.5% of the purchase price + VAT.
- Agent’s Commission: Typically 6% for developed property, 10% for vacant land, plus VAT.
Yes, but it’s not widely used. Instead, a thorough title search by a Bahamian attorney is the standard way to guarantee clear title.