Can a non-Bahamian purchase property in the Bahamas?
Answer: Absolutely. In 1994, the Bahamas passed The International Persons Landholding Act, which provides for non-Bahamians to be able to purchase real property in The Bahamas.
Can I apply for Bahamian Residency if I purchase in Bimini Bay Resort & Marina?
Answer: The government has adopted an accommodating stance on the granting of residency permits to non-Bahamian investors and homeowners. Investors and owners of residences valued at $500,000 or more may apply for permanent residency. This process is fairly simple and can be handled by a number of Bahamian attorneys that we can put you in touch with.
How often can I use my home if I am in the rental program?
Answer: Owners may reserve their units for their own use for any period not yet committed or identified for commitment to a rental guest. To ensure unit availability, we ask that owners make their reservations at least 180 days in advance, especially for periods of high guest demand. There is no fee for owner’s use. There is a fee for cleaning the unit following owner’s departure.
Do you offer furniture packages for the condominiums and homes?
Answer: In order to make the process as simple as possible we provide all your furnishing needs including linens, cutlery, televisions, decorations, and more. Furniture packages are available separately and are required if your home will be in the rental program. All you will need to bring is your toothbrush.
What taxes are there in The Bahamas?
Answer: The Bahamas has no income tax, capital gains tax, inheritance tax or sales tax with the exception of the Stamp Duty on the conveyance of real property. The government’s primary source of revenue is from duties charged by customs on all imported goods into The Bahamas.
If you are not included in the rental program at Bimini Bay Resort & Marina, there is also a Real Property Tax. Below you will find a breakdown of the Annual Property Tax.
I have more questions that have not been answered.
Answer: Please contact one of our sales associates at 888-592-1588 or you may click here to request further information.
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