Non-Bahamians buying
property in The Bahamas
Non-Bahamians buying five acres or less
of contiguous property as part of a single purchase for a single-family
home do not require a permit but do have to register the
purchase with the Investments Board at the Bahamas Investment
Authority.
Purchases of more than five acres, or of land for any commercial use must receive
prior approval.
Property
Tax
The statutes
provide for a general assessment of real property by the
Chief Valuation Officer of the Commonwealth of the Bahamas
and applies to all non-exempt Bahamians and all non-Bahamians
owning property in the Bahamas.
Current Rate of Tax:
1 |
Owner-occupied property (residential) |
|
a |
First
$100,000 of market value |
Exempt |
b |
Over
$100,000 and not exceeding $500,000 of market value |
1% |
c |
Over
$500,000 of market value |
1.5% |
2 |
Vacand land owned by non-Bahamians |
|
a |
First
$3,000 of market value |
Minimum
$30 |
b |
Over
$3,000 and not exceeding $100,000 of market value |
1% |
c |
Over
$100,000 of market value |
1.5% |
|
