Bahamas Real Estate: Luxury Homes for Sale in
the Bahamas
If you want to buy a permanent home,
getting permanent residence (without the right to work in the Bahamas) is easy:
In order to speed up the entrance of foreign funds into the country,
international applications for annual or permanent residence by major
investors who purchase residences valued over $500,000 have practically
automatic approval.
How to obtain an annual residence permit: If you would like to
reside in the The Bahamas on an annual basis you can do so if your
spouse or dependent is a citizen of the Bahamas or if he/she is a permit
holder, if you are a independent economic resident, or if you are a
resident home owner, or seasonal resident home owner. You will also be
asked to present the necessary documents required.
Getting permanent residence: If you want to live here
permanently you must be of "good character" (you can take it that this
means they have no criminal record) and you should be prepared to show
evidence of financial support. Accelerated consideration of applications
for annual or permanent residence will be given to major international
investors and fit and proper owners of residence valued at $500,000 or
more.
Bahamas Homes for Sale (direct from
developers)
Cape Hope Bahamas
Cape Hope creates a limited number of excellent quality homes, either
speculatively or to a purchaser’s individual needs.
Fees Associated with Purchasing Property in the Bahamas
The Bahamas Government charges a stamp tax on all real estate
sales or transfers. This tax is traditionally split 50/50 between buyer
and seller, unless otherwise specified or agreed to by both parties.
The stamp tax is levied as follows:
| Government Stamp Tax on Property
Sales/Transfers |
% of Sale Price |
| Up to $20,000 |
2% |
| $20,000.01 to $50,000 |
4% |
| $50,000.01 to $100,000 |
6% |
| $100,000.01 to $250,000 |
8% |
| $250,000.01 and over |
10% |
Lawyer Fees (required) in respect of the sale and purchase of real
estate and the scale fees are usually 2.5 % of sale price.
If you use a broker to sell your property (optional), real estate
commissions are typically paid by the seller (and vary depending on the
agreement between the broker and seller).
| Real Estate Broker Commissions |
% of Sale Price |
| Undeveloped land |
10% |
| Developed property (homes, condos) |
6% |
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