Moving to The Bahamas from the US

Call or WhatsApp 1-(242)-395-8495 to
Move to The Bahamas

Why Choose Bahamas Real Estate?

Bahamas permanent residency | Moving to the Bahamas from US

Are you tired of the hustle and bustle of city life in the US? Do you crave more sunshine, sandy beaches, and crystal-clear waters? The Bahamas may be the perfect destination for you.

This tropical paradise is located just a short flight from major cities in the US and offers a relaxed, laid-back lifestyle that can help you escape the daily grind and find the peace and tranquility you crave. And if you are moving to The Bahamas from the US we can help.

Glenn Ferguson is a leading real estate agent and residency consultant in the Bahamas. With over 25 years of experience, he is well-versed in all aspects of moving to this beautiful country, from finding the perfect property to securing residency and navigating the legal and financial requirements. Glenn would be happy to guide you along the process of moving to The Bahamas from US

Bahamas Permanent Residency Requirements

Choosing the Right Property

Choosing the Right Property

If you're considering moving to the Bahamas from the US, it's important to work with a reputable real estate agent who has a deep understanding of the local market and can help you find the property of your dreams. Glenn Ferguson is a trusted name in Bahamas real estate and can provide you with the guidance and support you need to make the most of your move.

Tax Benefits of Moving<br> to the Bahamas

Tax Benefits of Moving
to the Bahamas

Moving to the Bahamas is easier than you might think, but it does require some careful planning and preparation. Glenn Ferguson is a skilled residency consultant who can help you navigate the legal requirements for obtaining residency in the Bahamas, including providing advice on work permits, permits for permanent residency, and more.

The Benefits of Island Living

The Benefits of Island Living

One of the most important aspects of moving to the Bahamas is finding the perfect property. Whether you're looking for a beachfront condo, a luxurious villa, or a cozy cottage in the countryside, Glenn Ferguson can help. With his extensive knowledge of the local real estate market and his unparalleled dedication to his clients, he can help you find the property of your dreams.

Moving to The Bahamas?

Call or WhatsApp 1-(242)-395-8495 to Get Expert Assistance

Moving to The Bahamas from the US? Complete the form below to Discover the Bahamas Permanent Residency By Investment program, benefits, and process to obtain permanent residency on this beautiful, tax-friendly Caribbean island.

What to Consider When Moving to The Bahamas from the US

Call or WhatsApp 1-(242)-395-8495 to Move to The Bahamas

Moving to The Bahamas from the US


Moving to The Bahamas from the US

Living in the United States comes with its own pleasures and challenges, but the thought of relocating to an idyllic island paradise like the Bahamas can be a tempting proposition. With sun-kissed beaches, lush green vegetation, vibrant culture, friendly locals, and a relaxed pace of life, moving to the Bahamas promises a drastic, yet welcome change to individuals seeking an escape from the fast-paced American lifestyle.

The first and most obvious change many notice when relocating to the Bahamas is the tropical climate, characterized by warm temperatures year-round and distinct wet and dry seasons. Americans accustomed to harsh winters and seasonal extremes might find adjusting to the constant warmth and humidity to be a challenge at first. However, the inviting turquoise waters of the Caribbean Sea, which appear only a stone's throw away – no matter where you are – offer constant respite.

Secondly, the pace of life in the Bahamas is far more relaxed compared to the United States. While the "go-go-go" ethos is embedded in the American life, Bahamians mostly embrace a slower, more laid-back lifestyle. American ex-pats may initially find the slower pace frustrating, especially when it comes to official work, but gradually they learn to adapt and appreciate the tranquillity. The idiom "island time" is endearing, reminding us to cherish precious moments and not rush through life.

Although English is the official language in both countries, the style and pace of communication in the Bahamas differ from the U.S. The unique Bahamian dialect, rich with color, may require some getting used to for new residents.

The cost of living in the Bahamas is also a significant consideration for those pondering the move. While beachfront properties and daily life can be expensive compared to average U.S. cities, there are no taxes on personal income, inheritance, or gifts. Therefore balancing the financial reality with the potential tax advantages becomes a crucial part of the moving considerations.

While the Bahamas does offer well-equipped hospitals and medical facilities, they might not be as advanced or abundant as in the United States. Those with specific medical needs should consider this, factoring in that in case of emergencies or complex medical procedures, they may need to return to the States.

The Bahamian food culture, loaded with seafood specialties and local ingredients, can be a thrilling experience for the palate. The lively festivals, notably the annual Junkanoo, showcase the authentic culture and warmth of the Bahamian people, full of color, vibrancy, and infectious enthusiasm.

Moving to the Bahamas from the U.S. does entail a considerable lifestyle change; one that should be well thought out considering multiple factors like cost of living, climate adaptations, healthcare needs, and pace of life. However, for those willing to adapt, the rewards are substantial, offering an unrivaled quality of life immersed in scenic beauty, sunshine, and unfiltered simplicity.

The allure of the Bahamas is undeniable, and the call of the islands is not just towards a location, but a way of life – unhurried, unassuming, and unforgettable. With thoughtful preparation, moving from the hustle and bustle of the U.S. to the serene Bahamas can be a decision you thank yourself for, every single day.

Disadvantages of Living in The Bahamas

Call or WhatsApp 1-(242)-395-8495 to Move to The Bahamas

Disadvantages of Living in The Bahamas


Moving to The Bahamas

Ever wondered about the disadvantages of living in The Bahamas? Well, living in the Bahamas has its share of drawbacks, just like any other destination. Though this tropical paradise may seem like a dream, several factors could potentially impact your overall quality of life in The Bahamas.  So here are some of the disadvantages of living in The Bahamas...  

Disadvantages of Living in The Bahamas

One of the primary disadvantages is the high cost of living. Goods and services in the Bahamas are significantly pricier than in many other places. This is due to the fact that virtually everything has to be imported, which inherently causes higher prices. The same applies to dining options, which are quite expensive compared to mainland areas and have a mandatory 15% gratuity. Real estate and utility costs are also excessive. More so, there's an added 10 % Value Added Tax (VAT) on all goods and services.

Escaping the bustling city life for a serene life in the Bahamas might seem appealing but brings along the disadvantage of limited entertainment and recreational options. While initially, you might enjoy the tranquility, eventually, the lack of variety in terms of entertainment, shopping, and dining may render life somewhat monotonous.

The healthcare system in The Bahamas is another area of concern for many. Though there are several hospitals and clinics, their quality of service is typically lower than that of the U.S, Canada, or many parts of Europe. Comprehensive treatments may not be available, leading to the necessity of traveling abroad for serious health concerns. Long wait times and a lack of specialists are also issues plaguing the Bahamian healthcare system.

Public transportation in the Bahamas is not as reliable or regular as compared to many other developed nations. While taxicabs and tour buses are available, there is no formal public transport system. This can present issues if you don't own personal transport.

It's also important to mention that the Bahamas is prone to hurricanes. Every year, from June to November, the hurricane season can bring devastating storms. This not only endangers people's lives, but it also causes significant property damage and disrupts life, in general, bringing economic activities to a standstill.

In terms of employment, opportunities are limited. Market demand generally swings towards tourism, banking, and related services. Other sectors are comparatively underdeveloped. Thereby, the job market can be tough, especially for ex-pats.

Lastly, while the crime rate isn't particularly high in the Bahamas, certain areas have seen an increase in criminal activities such as theft, burglary, and even some violent crimes. Tourists are usually the target of petty crimes like bag-snatching or pick-pocketing.

While the Bahamas is a great place for a holiday and offers a beautiful, relaxed lifestyle, it has its fair share of disadvantages. From expensive living costs, poor public transportation, and average healthcare facilities, to susceptibility to hurricanes and limited entertainment avenues, these factors don't significantly mar the allure of living in this tropical paradise.

Taxes in The Bahamas for US Citizens

Call or WhatsApp 1-(242)-395-8495 for Benefits of Moving to the Bahamas

Taxes in The Bahamas for US Citizens


Taxes in The Bahamas for US Citizens

When moving to The Bahamas from the US understanding Bahamas tax laws for U.S. citizens is crucial to your decision-making.

While the tax benefits of living in the Bahamas include, residents and corporations paying no taxes on personal income, capital gains, sales, estates, or inheritances as the country operates on a tax-neutral basis, which is one of its main attractions for businesses and high-net-worth individuals. However, U.S. citizens residing in the Bahamas still have tax obligations toward their home country.

The United States operates under a worldwide tax system. Thus, regardless of residence, U.S. citizens are liable to pay taxes on their global income. As a result, a U.S. citizen residing in or generating income from the Bahamas isn't exempt from U.S. tax obligations. The complexity of the U.S. taxation system and the detailed requirements necessitate proper tax planning and understanding of financial management related to foreign assets, foreign income, and reporting obligations for U.S. taxpayers.

Furthermore, the introduction of the Foreign Account Tax Compliance Act (FATCA) has taken steps to ensure the accurate documentation and reporting of foreign financial assets held by U.S. taxpayers. U.S. citizens who have foreign financial assets over $50,000 will need to report these as part of their tax return. In addition, financial institutions across the globe, including the Bahamas, are required to identify and report directly to the IRS about their U.S. account holders, therefore, reducing the scope for individuals to hide assets abroad to avoid taxes.

Real property tax, stamp tax, and National Insurance are standard forms of taxes levied in The Bahamas. Real property tax is applicable to property owned in the Bahamas with some exemptions available. Stamp tax applies to particular transactions like mortgages or the transfer of property.

While the Bahamas offers an attractive tax neutrality policy, it's essential that U.S. citizens understanding the tax obligations of their home country. The U.S. foreign tax credit serves as a relief to Americans receiving foreign income to offset the income taxes paid to the foreign government against their U.S. tax liabilities.

If you're a U.S. citizen with financial interests or considering relocation to the Bahamas, it is advisable to engage with a taxation expert to navigate the complex U.S. tax regulations. Their advice can help establish a proactive tax planning strategy, ensure localization compliance, and avoid penalties related to mismanagement or misunderstanding of tax rules.

Moving to the Bahamas from the US? Discover the ultimate guide to relocating to this tropical paradise. Find out about visa requirements, cost of living, housing options, and more. Start your new chapter in the Bahamas today!

 Push Notifications are disabled


Homes for Sale in Nassau Bahamas

 Add to homescreen