Ask Glenn — Your Bahamas Real Estate Questions Answered

Very few. Foreign nationals can purchase single-family homes, condominiums, townhouses, branded residences, and vacant residential land under five acres without restriction. You receive freehold title — the same absolute ownership as a Bahamian citizen.

Restrictions apply only in narrow circumstances: undeveloped land of five acres or more requires Investments Board approval before closing, and commercial or multi-use properties also require prior approval. Permanent residents and foreigners who inherit property are exempt from the permit requirement and need only register after acquisition.

No. Many foreign owners use their Bahamas property as a vacation home, rental investment, or future retirement base without residing on the islands. There is no minimum residency requirement for property ownership. You can visit as often or as little as you like.

However, if you apply for Economic Permanent Residency (EPR), you are expected to maintain the property and demonstrate ongoing ties. The Homeowner's Resident Card ($500/year) facilitates easy entry and exit for non-resident owners and their immediate family members.

Yes. The Bahamian dollar is pegged 1:1 to the U.S. dollar, and both currencies circulate interchangeably throughout the islands. Property transactions are typically conducted in Bahamian or U.S. dollars — this eliminates exchange rate risk for American buyers and simplifies pricing for all international investors.

For non-USD purchases, foreign currency transactions may require Central Bank of The Bahamas exchange control approval. Glenn coordinates this with your attorney as part of the closing process.

For foreign buyers, VAT on the conveyance of residential property is a flat 10% of the purchase price. The standard practice is to split this 50/50 — you pay 5% and the seller pays 5% — unless otherwise negotiated in the Agreement for Sale.

For Bahamian citizens, VAT is graduated based on property value: 2.5% under $100,000, 4% from $100,001–$300,000, 6% from $300,001–$500,000, 8% from $500,001–$700,000, 9% from $700,001–$1,000,000, and 10% above $1,000,000. First-time Bahamian homebuyers receive concessions.

There is no VAT on vacant land sales, but VAT of 10% does apply to professional services — legal fees and agent commissions — involved in the transaction.

No — the buyer pays zero commission. In the Bahamas, the seller pays all real estate agent commissions: 6% on improved (developed) property and 10% on vacant land. This is the standard set by the Bahamas Real Estate Association (BREA).

All buyer services from Glenn — property search, private tours, market analysis, comparable data, rental projections, negotiation, closing coordination, and residency guidance — are complimentary. No obligation, no cost to you.

Not by default. EPR is typically granted without the right to work unless specifically endorsed. If you intend to work or operate a business in the Bahamas, separate work permit approval or special endorsement is required. Glenn discusses these options during the residency planning process so there are no surprises.

If you hold EPR and sell your qualifying property, you should replace it with another qualifying property to maintain your residency status. The 10-year minimum holding period is a key condition. If you sell before 10 years without replacing the property, your EPR status may be at risk. Glenn outlines timing and replacement options when clients consider selling.

Typical closings take 90–180 days from signed Agreement for Sale to completed conveyance. Cash transactions with clean title can close in 60–90 days. The main variables are title search complexity (some properties require tracing back decades through generational transfers), Central Bank processing time (2–4 weeks), and whether financing is involved. Glenn manages the timeline and keeps all parties — attorneys, banks, surveyors, inspectors — coordinated to prevent delays. For a full step-by-step walkthrough, see How to Buy a House in the Bahamas.

Yes — many clients purchase remotely. Glenn provides verified virtual tours, high-resolution photography, drone footage, and video walk-throughs. Contracts can be executed via secure e-signing, and funds are transferred through escrowed banking channels. While an in-person visit is always recommended if possible, it is not legally required. Glenn coordinates the entire transaction so you never need to be physically present.

Yes, but with stricter terms than domestic buyers. Bahamian banks typically require 30–40% down payment from foreign nationals, charge interest rates 2–4% above comparable U.S. rates, and may offer shorter loan terms (15–20 years vs. 25–30 for Bahamians).

Major lenders include FirstCaribbean International Bank, RBC Royal Bank, and Bank of The Bahamas. Foreign currency loans require prior Central Bank approval.

Many international buyers opt for alternatives: financing from their home country, equity release against existing properties, or developer financing (available in select new developments). Glenn helps evaluate all options and connects you with local mortgage officers.

Yes — your equity position and the purchase value must meet the current residency threshold, but the property does not need to be purchased outright with cash. If you buy a $1.2 million property with a $480,000 mortgage and $720,000 down payment, the purchase still qualifies for EPR consideration because the total property value exceeds $1 million. Glenn confirms eligibility before you commit to any financing structure.

The right area depends on your priorities — luxury lifestyle, rental yield, family living, or privacy. Here is how Glenn categorises the top destinations:

Glenn tours multiple areas in a single visit and matches each buyer to the neighbourhood that best fits their lifestyle, budget, and investment timeline. See the latest pricing data in the Luxury Market Report or browse all Nassau listings.

Locally, no — the Bahamas imposes zero income tax. However, U.S. citizens are required to report worldwide income to the IRS, regardless of where it is earned. There is no U.S.–Bahamas tax treaty, so foreign tax credits are not available on Bahamas rental income (since no local tax was paid). U.S. investors should consult a tax professional familiar with foreign property holdings and the Foreign Earned Income Exclusion. Glenn is not a tax advisor but can refer you to qualified international tax professionals.

Yes — a local Bahamian attorney is required for all real estate transactions. The attorney performs critical functions: conducting a title search through the Registry of Records, preparing the conveyance documents, paying stamp duty and VAT, registering the purchase with the Investments Board and Central Bank, and providing a formal Opinion on Title.

This Opinion is functionally equivalent to title insurance — the law firm's professional indemnity insurance covers the buyer if a title defect is later discovered. Glenn refers buyers to vetted real estate attorneys and coordinates the entire legal process throughout closing.

Title insurance is available but not standard practice. The traditional protection is the attorney's Opinion on Title, backed by the firm's professional indemnity insurance. Some international title insurance companies operate in the Bahamas through local representatives for buyers who want additional coverage — particularly useful for properties on Family Islands where generational land claims can be complex. Glenn can arrange either option depending on your comfort level and the property's title history.

Glenn coordinates comprehensive due diligence on every transaction. Essential checks include: title search (minimum 30-year history through the Registry of Records); survey and boundary verification; property tax clearance from the Department of Inland Revenue; HOA/strata review including financials, rules, and special assessments; building inspection for structural and hurricane readiness; insurance assessment for hurricane and flood coverage; zoning and planning confirmation; and environmental checks for properties near coastline or wetlands. All findings are reviewed before you waive any conditions.

Beyond the purchase price, plan for these recurring annual costs:

Glenn provides a custom cost-of-ownership projection for every property under consideration so there are no surprises after closing. See also the Complete Buying Guide for a full cost walkthrough.

Hurricane and windstorm insurance is essential and typically runs 1–2% of the property's replacement value annually. Rates vary based on location, construction type (concrete block is cheaper to insure than wood frame), proximity to the coast, and the property's elevation. Some gated communities and branded developments negotiate group rates that lower individual owner costs. Glenn connects buyers with reputable local insurers and ensures adequate coverage is in place before closing.

Glenn combines four licensed specialties in one advisor: BREA-licensed real estate agent, Bahamas MLS member, residency consultant, and WPIC-certified wedding planner / Marriage Officer. He handles the property search, negotiation, closing, rental strategy, and residency filing — replacing three or four separate firms.

With 24+ years on the ground in Nassau, Glenn offers local knowledge, relationships with developers and attorneys, and access to off-market opportunities that remote or part-time agents cannot provide. All buyer services are free — the seller pays the commission. Read Glenn's full credentials or see the 10 Questions to Ask Before Hiring a Bahamas Realtor.

Three ways — pick whichever is most convenient:

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Share your budget, timeline, property type, and lifestyle goals. Glenn will send a tailored shortlist with pricing, HOA details, rental projections, and residency guidance within 24 hours. No obligation.