Below are the categories of people who can apply for permanent residence in the Bahamas. While this is not an exhaustive list, the main categories of permanent residence in the Bahamas are highlighted below. The residence represents an opportunity to revel in such a lifestyle on a sustainable basis. However, there are different ways to stay in the Bahamas and different ways to get a home, including buying real estate in the Bahamas. This guide explores in detail your options, requirements, and application process. How long can I stay in the Bahamas as a non-resident? How do I become a resident of the Bahamas? Work Permit Owner Card Annual Permanent Residence Benefits How to Apply for Citizenship Read more The application for permanent residence consists of a government form that must be notarized by a justice of the peace or notary and submitted to the Department of Immigration with the following receipts: The new rules will allow investors to obtain permanent residence immediately. Holders of permanent residence cards can also apply for Bahamian citizenship by naturalization. A person holding a certificate of permanent residence and who wishes to receive his wife or dependent child under 18 years of age and who has his habitual residence in his household may have it entered on the certificate at the time of his initial application or at a later date under the conditions laid down by the immigration authority. Permanent residency can be revoked if an investor violates the terms of the program, such as selling a home before the ten-year holding period expires.
In addition, under the law, the investor is deprived of permanent residence if he has lived outside the Bahamas for more than three years or is sentenced to imprisonment for one year or more in a country. According to the regulations in force, the amount of the investment only affects the speed of processing the application. The expedited process for processing an application for permanent residence takes 21 days. However, on the websites of the Government of the Bahamas, you will find conflicting information about the minimum investment amount for the accelerated procedure for granting permanent residence. A permanent resident enjoys most of the benefits of a Bahamian citizen, except that he cannot vote and use certain concessions reserved exclusively for Bahamian citizens. Permanent residents who were parents enjoy the new status for life. The certificate is free of charge and does not restrict the holder`s right to engage in an economic activity. An economic permanent resident may live permanently in the Bahamas provided that he or she maintains residence or investment at the minimum threshold set by the Minister of Immigration from time to time.
Although the government of the Bahamas was passed by politicians a few years ago, it has now introduced an Immigration (Amendment) Amendment Act 2021 , which came into force on July 1, 2021) and codifies permanent economic residence. Bahamas, Permanent Residence, Real Estate, Residence Department of Immigration Hawkins Hill P. O. Box N-831 Nassau New Providence The Bahamas Tel. (242) 322-7530/9 Fax. (242) 326-0977 Email: firstname.lastname@example.org Hours: Monday to Friday from 9:00 a.m. to 5:00 p.m., except public holidays. The opportunity to apply for annual resident status is available to spouses or parents of work permit holders, resident owners, spouses or parents of citizens, and residents of independent businesses. Individuals who had a valid permanent residence certificate prior to the Immigration Act of 1975 automatically continue to have that status. The following groups of people can apply for permanent residence: A company automatically becomes a Bahamian tax resident if its registered office is registered in the country. A permanent residence permit allows non-Bahamas to reside permanently in the Bahamas. This itinerary is ideal for people who want to buy real estate, open a business or retire in the Bahamas.
To be eligible, applicants must fall into one of the following categories, including “financially independent individuals or investors who are lawful owners of a residence in the Bahamas.” Category (4) Foreign investors may purchase residential real estate in the Bahamas of up to five hectares without prior government approval. A permit for the purchase of undeveloped land or property of five or more contiguous hectares is required. Such acquisitions must be registered under the International Persons Land Ownership Act 1993. In this category, non-Bahamians who have second homes in the Bahamas may apply to the Director of Immigration for an annual owner`s residence card. This card can be renewed annually and allows the owner, spouse and all minor children/children listed on the owner`s card when travelling with the owner to enter and stay in the Bahamas for the validity of the card. It should be noted that this card is intended to facilitate entry into the Bahamas and does not correspond to the status of residence in the Bahamas. The fee is $500 per year and is designed to facilitate entry into the Bahamas with minimum formalities by: 1. No need for round-trip tickets. 2. Avoid providing proof of subsistence upon entry into the country. 3.
Entitles you to a visit for a maximum stay of one year. The requirements for qualification in this category are: 1. Application letter. 2. Two passport photos of the applicant. 3. *Application form. 4. Proof of ownership of real estate in the Bahamas.
5. Proof of the existence of an apartment (house) on the property. 6. Processing fee of $100 (a change of banker) to be paid to the Consolidated Revenue Fund, as well as proof of payment of stamp duty and property tax. Candidates selected in one of these categories are not allowed to hold a job. If the investor`s situation has changed, such as their annual income or the amount of the investment in the Bahamian economy, the investor will attach an affidavit to the statement – a legal opinion on what exactly changed and how. The affidavit also confirms that the investor continues to meet legal requirements and has the right to retain his or her place of residence. The investor`s relatives lose their permanent residence when they are no longer financially dependent on the principal applicant. To discover homes for sale in the Bahamas and condos for sale in the Bahamas, from vibrant Nassau and Paradise Island to quiet and tranquil islands like Eleuthera and the Exumas that can qualify you for permanent residency, explore properties in the Bahamas on our website.
APPLICANTS for this residency status must be of good character and be willing to prove financial support. Such an applicant must also indicate that he or she intends to reside permanently in the Bahamas. Persons may apply for permanent residence in one of the following categories, provided that they meet the legal requirements of the Bahamas: 1. As the spouse of a citizen of the Bahamas and in the case of a man, he must have been married for at least five years. 2. As an economic applicant; that is, someone who tries to live permanently in the Bahamas because: a. investment firm or house or b. roots established by family ties. Individuals who were in possession of a valid permanent residence certificate prior to the Immigration Act of 1975 automatically continue to have that status. To initiate an application in any of the above categories, the required application form must be completed in duplicate, notarized and submitted to the Department of Immigration with the following documents: It may take a few months for the application to be processed, so we often recommend that a provisional application for annual residency be made. The processing time for the issuance of the annual residence permit is much shorter than for permanent residence. As part of the application process, the Department of Immigration invites the applicant and their spouse to an interview at the Department of Immigration.
If the application is approved, the spouse of the principal applicant and children under the age of 18 can be confirmed on the certificate. There is a non-refundable processing fee of B$200.00 per application (eligible principal applicants and endorsements). Once approved, the government`s one-time fee for the permanent residence certificate is $15 trillion plus $25 billion for each endorsement. The lawyer`s fee to participate in an application for permanent residence is $5,000.00 plus $250 for each endorsement plus payments. With top-notch amenities, pristine white and pink sand beaches, some of the world`s best waters for sailing, diving, and fishing, and luxury real estate investment opportunities — all within walking distance of the United States — the Bahamas can offer residents a very high standard of living. Five Caribbean countries do not offer cosmopolitans permanent residency, but citizenship through investment. These are Saint Kitts and Nevis, Grenada, Antigua and Barbuda, Saint Lucia and Dominica. Spouses in the Bahamas may be issued a certificate of permanent residence with the right to engage in economic activity. In the case of a man, such a request can only be made after five years of marriage to the Bahamian wife.
Married women in the Bahamas can apply at any time after marriage. To date, 2021 has been a record year for property sales in the Bahamas and there has also been a remarkable resurgence of interest in permanent residence. Due to the diversity and number of islands and bays in the archipelago, there are a variety of options for investments and residences that reach the threshold of permanent economic residence.