Looks like Hollywood stars are buying up real estate in the Bahamas. From the London Free Press:

Actor Johnny Depp bought a rugged private island ringed with white sand off Exuma. Musician Lenny Kravitz snapped up a speck of land in the Eleuthera chain. Sean Connery is ensconced behind high walls on the western tip of New Providence.

[...] "People are happy to meet you, but they don't want to exploit you or want anything from you," actor Nicolas Cage, who owns a home near the capital, Nassau, and an island off Exuma, said. "It's nice to be able to . . . take a walk on the beach and not have to worry about having your picture taken."

[...]

Any foreigner who purchases a home worth at least US$500,000 can become eligible for permanent residency -- an incentive for jet-setters seeking to come and go with minimum hassle. Another inducement is that the Bahamas has no tax on income, capital gains or inheritances.

Other stars who own Bahamas getaways include Shakira, Michael Jordan, John Travolta, David Copperfield, Faith Hill and Tim McGraw, Sean (Diddy) Combs and former tennis great Jim Courier.

Recommended Link: Bahamas Real Estate.