Grand Hyatt Baha Mar
Buyers Guide

The International Persons Landholding Act, 1993, encourages non-Bahamians to acquire Real Property in the Bahamas. A non-Bahamian acquiring Real Property in the Bahamas now needs no permit once the property being purchased is less than five acres, for residential purposes only, and is their only property holding in the Bahamas. The property is registered with the Investment Board allowing repatriation of the funds should you ever sell your property. The Act also allows for property owners and his/her dependents to apply for an annual resident card or permanent residency (i) who invest in real property valued at a minimum of $500,000.00, (ii) show evidence of financial support and (iii) state his/her intent to reside permanently in The Bahamas. However, the Department of Immigration still has the authority to refuse whom they considered to be unsuitable applicants. Also, the Ministry of Tourism's entry requirements vary from country to country.

Applicants may obtain an annual residence permit should they meet one of the following requirements:

1. Resident homeowner or seasonal resident homeowner
Non-Bahamians who own a second home in The Bahamas may apply to the director of Immigration for an annual homeowner's residence card. This card is renewable annually and when travelling with the owner, it allows the owner, spouse and any minor(s) endorsed on the owner's card to enter and remain in The Bahamas for the validity of the card.

2. Spouse or dependent of a permit holder
A copy of permit to reside, sponsor's work permit, certificate of permanent residence or other lawful authority to live in The Bahamas must be included in addition to the normal application process.

3. Spouse or dependent of a citizen of The Bahamas
A resident spouse permit may be issued, if the applicant is married to a Bahamian citizen,
provided they have been married for lessthan five years.
Citizenship or permanent residence applications can be
made after five years or more of marriage.

4. Independent economic resident
Two written character references and a financial reference from
a reputable bank verifying economic worth. A head-of-household
pays $1,000.00 and each dependent pays $25 for an annual residence
permit.

Read Page 2 of Property Buyer's Guide>>

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