4 Fun Facts About the Bahamas You Should Know!
Many of us dream about living on an island. The idea of waking up to the ocean waves, gorgeous weather, and being steps away from the beach are all a dream. However, what many people fail to realize is that this dream can become a reality.
Anyone who wants to live on an island can with island property in the Bahamas. Now, owning property in the Bahamas isn’t as easy as snapping your fingers, but it also isn’t impossible.
Plenty of people in the United States decide to either make the Bahamas their primary residence or a fun place to vacation. Either way, when you have island property in the Bahamas, you can choose to do whatever you want!
The freedom is nothing short of amazing and it’s only one of the few things you’ll enjoy about the Bahamas.
Here are few more fun facts about the Bahamas you should know!
Home to Some of the Clearest Water You’ll Ever See
While here in the US, many of us can look down and see our feet as we walk or swim in our nearest ocean waters, but it’s not quite the same as crystal clear waters. And when we say crystal clear water, we mean that gorgeous water that many of us only think exists in pictures, where the water almost looks like glass.
You’d be surprised to know that this water is legitimate and it exists in the Bahamas. The Bahamas is home to some of the most crystal clear water in the world and not only is it perfectly see-through, but it’s a beautiful bright turquoise color making it the perfect backdrop for beautiful pictures!
The Bahamas Has 700 Islands
One thing about the Bahamas is that the adventure never ends. There are 700 islands for you to explore. It may seem like a little too much to do on one vacation. However, when you own an island property in the Bahamas, you have endless time to explore, so you don’t have to worry about squeezing it all in during vacation.
The Bahamas is Home to a Large Barrier Reef
The Bahamas is home to the third-largest barrier reef on the planet, known as the Andros Barrier Reef. This gorgeous reef sits on the ocean floor and goes on for miles. You can scuba dive and get an up-close view or take a boat tour and get a look.
The Word Bahamas Has a Unique Origin
Time for a history lesson. The Bahamas may seem like a fun name that seems to fit the islands perfectly. But did you know that historians believe the word “Bahamas” came from the Spanish bajamar, which means shallow water?
The shallow water can get seen when we get close to the Bahamas banks. Other historians believe that the word “Bahamas” is from Lucayan Taino’s (Arawakan) derivation. Either way, the history is quite interesting.
Contact Island Property Group Today to Start Looking into Invest Property in the Bahamas!
Are you thinking of owning island property in the Bahamas? If so, call our team at Island Property Group today.
Whether you are a buyer or a seller, you can reach out to us at 1-800-659-6519. Our team can help you either buy a property in the Bahamas or sell one.
Frequently Asked Questions
Can foreigners buy property in the Bahamas?
Yes. The Bahamas actively welcomes foreign property buyers under the International Persons Landholding Act of 1993. Non-Bahamians can purchase a single-family home, condominium, or vacant land under five acres without needing a prior permit — only a registration with the Bahamas Investments Board is required after the transaction closes. A permit is required only if the property is undeveloped land of five acres or more, or if the property will not be used as a private residence. There is no minimum price requirement to purchase; foreigners can buy a $300,000 condo or a $15 million estate under the same framework. A licensed Bahamian attorney handles the title search, conveyance, and registration.
What taxes will I pay when buying property in the Bahamas?
The main acquisition cost is a flat 10% VAT on the purchase price, which replaced the older stamp duty system for foreign buyers. By convention, this is typically split 50/50 between buyer and seller, though the split is negotiable. On a $1 million purchase, the total VAT is $100,000 — so each side generally pays $50,000. Legal fees run 2.5% to 3.5% of the purchase price plus an additional 10% VAT on those fees. Realtor commissions (6% plus VAT) are customarily paid by the seller. Total buyer closing costs typically land between 8% and 11% of the purchase price. Annual real property tax is charged separately on the assessed value of the home after closing.
How much property do I need to buy to get Bahamas permanent residency?
The Bahamas Economic Permanent Residence program requires a minimum real estate investment of $1 million — increased from $750,000 effective January 1, 2025. The property must be held for at least 10 years, and the certificate holder must spend a minimum of 90 days per year in the Bahamas. Buyers of residences valued at $1.5 million or more receive accelerated processing through the Department of Immigration. Permanent residence is granted for life unless revoked and includes spouses and dependent children under 18, though it does not grant the right to work. For buyers who want residency access without the $1 million commitment, the Annual Homeowners Residence Card costs $500 per year and allows year-round entry for any non-Bahamian who owns a second home in the country.
Does the Bahamas tax my rental income or capital gains from property?
No. The Bahamas does not impose personal income tax, capital gains tax, inheritance tax, or estate tax. Rental income earned from a Bahamas property is not reported to or taxed by the Bahamas government. If the property is used for short-term rentals where permitted by the homeowners association, a 10% VAT applies to the nightly rate and must be registered and remitted quarterly. The annual real property tax is the primary recurring cost of ownership — capped at $150,000 per year for non-owner-occupied property under the Real Property Tax Amendment Act No. 43 of 2025. US citizens should note that while the Bahamas takes nothing at sale or on rental profit, the IRS still taxes worldwide income, so a qualified tax advisor is essential.