Albany Bahamas Permanent Residency

$1,000,000 in real estate or Zero-Coupon Bonds, effective January 1, 2025. Must hold 10 years minimum. Albany marina residences start at ~$3M — well above the threshold. See the full Residency Guide.

A residency-by-investment programme under the Immigration (Amendment) Act, 2021. EPR grants lifetime residency for $1M+ property investors. EPR does not grant work rights. Operating a business requires a separate investment pathway ($500,000+ minimum). Valid for the holder's lifetime unless revoked for non-compliance with the 10-year hold or residency requirements.

$20,000 one-time government fee. EPR through real estate does not include work rights. Plus $300 per endorsed family member. Example: applicant + spouse + 2 children = $20,900.

EPR does not include work rights. You cannot be employed or operate a business under standard EPR. Work authorisation requires a separate application through the business investment pathway ($500,000+ minimum). Discuss your specific plans with Glenn and your Bahamian attorney.

6–18 months from filing. Interview typically within 2–3 months. All Albany properties qualify for accelerated processing ($1.5M+). Complete documentation is the biggest factor — Glenn ensures everything is filed correctly from day one.

Spouse and dependent children under 18 can be endorsed for $300 each. Important: under current Bahamian law, female EPR holders cannot endorse their husband. Endorsements remain valid until dependents age out or cease to qualify.

No. EPR requires intention to reside 90 days per year (cumulative, not consecutive). Many Albany owners split time between the Bahamas and their home country. US citizens: you remain subject to IRS worldwide income reporting regardless of Bahamas residency status.

Zero income tax, zero capital gains tax, zero inheritance tax, zero wealth tax. Rental income is tax-free locally. Annual property tax (owner-occupied): first $300K exempt, 0.625% on $300K–$500K, 1% above $500K, capped at $120K/year. 10% VAT at purchase (split 50/50). Full details: Tax Guide.

Potentially. After 10 years of permanent residency with 6 years de facto residence, you may apply for naturalization. Citizenship is discretionary — not automatic. A Bahamas passport provides visa-free access to approximately 155 countries. Separate application process required.

The Immigration Board may revoke your EPR. The 10-year hold is a legal requirement under the Immigration (Amendment) Act, 2021. After 10 years, file a declaration every decade confirming no material changes. If you must sell early, discuss implications with your Bahamian attorney before proceeding.

Completed property conveyance (proof of ownership), police certificate (within 6 months), medical examination, financial references from your bank, 2 passport-sized photos, original birth certificate, and government fee payment. All foreign documents must be apostilled (Hague Convention countries) or legalised, with English translations bearing a $10 Bahamian stamp. Glenn provides a full document checklist at consultation.

Foreign buyers: approximately 8.5–9.5% of purchase price. VAT ~5% (buyer's share), attorney fees 3.5% minimum (registered land, Bar Association minimum effective January 2026) plus 10% VAT on legal fees, plus minor registration charges. Buyer pays zero agent commission — seller pays. Glenn provides a precise breakdown for every property.

Yes. Albany Accommodations manages rentals. Luxury homes command $15,000–$30,000+ per week during peak season. Rental income is tax-free locally. Albany provides guest services, concierge, and housekeeping. Strong offset to ownership costs for part-time residents.

Albany ranks #1 for EPR buyers. Only community where all properties qualify for both EPR and accelerated processing. 71-slip mega-yacht marina, Ernie Els championship golf (hosts Hero World Challenge), 7 min from airport, on-site school + medical clinic. Lyford Cay has limited marina. Ocean Club is 35–45 min from the airport. Old Fort Bay has no marina or golf.

A lower-tier option for $250K+ property owners. Costs $250/year, renewed annually. Facilitates entry for up to 1 year but is not permanent residency. Not relevant for Albany buyers since all properties exceed $1M and qualify for full EPR.

Yes. No nationality restrictions for EPR. Americans, Canadians, Europeans, and all foreign nationals can apply through $1M+ real estate investment. US citizens remain subject to IRS worldwide income reporting regardless of Bahamas residency. Work with a cross-border tax advisor.

Yes. EPR is optional. Foreigners can buy freehold at Albany with identical ownership rights to Bahamian citizens — protected by English common law. No residency requirement to purchase. But since every Albany property qualifies for EPR (and accelerated processing), most international buyers choose to apply for the tax and lifestyle benefits.