BAHAMASRESIDENCY BY INVESTMENT
MIN INVESTMENT
$500,000
PROCESSING TIME
30 DAYS
PERMIT TYPE
PERMANENT RESIDENCE
FAMILY
SPOUSE, CHILD, PARENT
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SUMMARY
The Bahamas is an independent Caribbean island nation with its own government. It was a British crown colony until the 1970s when it gained independence. As a result, Common Law governs the land, and English is the official language. The Bahamas is one of the wealthiest countries in the Caribbean, and it is home to a large number of Western expats. The Bahamas government allows foreign investors to apply for residency in exchange for investment in The Bahamas.
The Bahamas Residency By Investment (aka Bahamas Golden Visa) programme grants permanent residency to approved applicants and their families. Foreigners may apply for citizenship after ten years of residence in the Bahamas. Dual citizenship is not recognized in the Bahamas, so applicants must forego their previous citizenship.
Applicants for The Bahamas Golden Visa Program must invest in either real estate or a business operation. The Bahamas have a $500,000 minimum investment requirement, but the authorities give real estate investments of at least $1,500,000 priority. The investment must be kept for the duration of the visitor’s stay in the region.
The Bahamas has one of the most friendly tax systems in the world. Personal income and most types of corporate income are not taxed in the country. The Bahamas passport is the best in the Caribbean, allowing visa-free travel to the Schengen region of Europe and visa-free travel to the United States.
POPULATION
389,482
CAPITAL
Nassau
CURRENCY
Bahamian Dollar
LANGUAGE
English
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- TYPE: RESIDENCY
- VISA-FREE: EU, EU
- PROCESS: 2 MONTHS
INVESTMENT
The Bahamas Investor Visa Applicants are offered the following investment options:
- Buy a real estate property of at least $500,000, properties above 1,500,000USD will get speedy consideration
- Invest at least $500,000 in a business, not in an area reserved for 100% Bahamian participation. Specific forms of businesses are eligible for benefits. You’ll need to include NIB sales, infrastructure, and possible entrepreneurial spin-offs as potential benefits to the national economy. You must also state the number of Bahamians working in the first year of the project’s construction and operation.
Approved applicants will need to hold the investment for the rest of their stay in the Bahamas.
Application Fees: B$1000 per person + B$250 for the landholding license
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PROCESS
Processing Time: 2 months
Stage 1 - Month 1
You must first make your investment before applying for permanent residence. If you're planning to invest in a company, you'll need to get your business plan approved by the appropriate authority. If you want to apply for the real estate scheme, you must first buy the property and then apply for a landholding license. The Housing Department typically takes 30 days to issue your Land Holding License.
Stage 2 - Month 2
You can apply your application for permanent residence along with the supporting documentation once your investment has been accepted and you have documentary proof. At the Public Treasury, the applicant must pay the required fee.
Stage 3 - Month 3
The Immigration Department will process your application. It usually takes 3 to 4 weeks for a decision to be made. You can get your permanent residency permit once you've been accepted.
CONDITIONS
- A series of requirements must be fulfilled to apply for Bahamas Residency by investment programme. Check all the requirements for obtaining Residency by Investment in Bahamas.
- Criminal Record:
Police Record - Financial Requirements:
Financial Reference (must be current). - Other Conditions:
Character Reference (must be present). - Related to real estate:
A copy of the land acquisition/purchase site plan (please include size). The number assigned to a piece of real estate for tax purposes. Proof of Real Estate Tax Payment (must be current). A complete copy of related conveyance with evidence of payment of the required sum. - Related to business:
Character reference, Environmental Impact Assessment, Proof of financial capability, Business plan
FAMILY
- Child Dependent
Only minor children are eligible to qualify as dependent.
INITIAL PERMIT
- Applicants who are accepted are granted permanent residency in the Bahamas. The requirement is that the country's investment is maintained.
CITIZENSHIP
- Residence Requirements:
A legal permanent resident of The Bahamas has had that status for at least ten years, including the 12 months immediately preceding the date of application, and has lived in The Bahamas for at least six years. - Health Requirement:
Medical certificate - Criminal Record:
Police certificate of good character, issued within six months of application (all applicants 14 years and older)