Ask Glenn Ferguson
Your Bahamas Condo
and Real Estate Specialist

Yes. As a foreign national you can purchase condos and freehold property in The Bahamas with the same ownership rights as Bahamian citizens. There are no restrictions on most residential property types. What you do need is proper legal representation by a licensed Bahamian attorney, Exchange Control registration at closing so you can repatriate your sale proceeds and rental income in the future, and patience with a conveyancing process that typically takes 60 to 90 days. You own the property outright with freehold title - no expiry, no leasehold risk.

When I sit down with every buyer, the first thing I cover is the full acquisition cost - not just the purchase price. Buyer-side closing costs typically total 8 to 11 percent of the purchase price. The biggest line item is VAT and stamp duty at 10 percent of the purchase price for non-Bahamian buyers. On top of that you have attorney legal fees (typically 1 to 2.5 percent), title search fees, disbursements, and any HOA or building transfer fees. Budget the full range before you make an offer. A $500,000 condo costs approximately $40,000 to $55,000 in closing costs alone - not the 2 to 3 percent you may have read elsewhere.

The Bahamas offers Economic Permanent Residency (EPR) for real estate purchases of USD $1,000,000 or above (effective January 1, 2025, raised from the previous $750,000 threshold). If you purchase at USD $1,500,000 or above, you qualify for the accelerated review option, which I have seen process in approximately three weeks. The standard review timeline varies. Key facts you need to know: the government application fee is approximately USD $20,000; a minimum 10-year holding period applies; you cannot work in The Bahamas on EPR without a separate work permit; and The Bahamas has no income tax, no capital gains tax, no inheritance tax, and no estate duty. I work alongside a licensed Bahamian immigration attorney on every residency case - you need both.

Non-owner-occupied properties are taxed at 1 percent on the first $500,000 of market value and 2 percent on value above $500,000, with an annual cap of $150,000. Owner-occupied properties qualify for lower rates. What I tell every buyer is this: The Bahamas has zero income tax, zero capital gains tax, zero inheritance tax, zero estate duty, and zero tax on dividends or interest. That is not marketing - it is the law, and it is one of the most compelling reasons my international clients choose The Bahamas. Some branded residences with rental programmes may also qualify for additional tax exemptions - your attorney will confirm what applies to your specific purchase.

In my 24 years I have worked across all the major communities. The strongest I recommend include: Albany (ultra-luxury gated, Cable Beach area, co-founded by Tiger Woods and Justin Timberlake, Ernie Els golf, superyacht marina); Aqualina (beachfront on Cable Beach, strong managed rental programme); Baha Mar Rosewood and SLS Residences (branded resort living on Cable Beach, world-class amenities); One Ocean (Paradise Island, oceanfront luxury); Goldwyn Bahamas (boutique beachfront, Cable Beach); Ocean Club Estates (gated, Paradise Island); Old Fort Bay (marina front, private beach club); and Bayroc (Cable Beach, strong rental demand). The right community for you depends entirely on your goal - I always start with that conversation first.

My approach is simple: match the option to your goal. Pre-construction gives you newer finishes, staged payments that spread the capital outlay, and potential appreciation before completion. The risk is developer reliability, timeline uncertainty, and committing to a product before it exists. I always verify the developer's track record, contract terms, and completion guarantees before any buyer signs. Resale gives you immediate use, a real operating history - actual HOA fees, documented building management quality, verifiable rental performance, and established community rules. Need move-in certainty? Resale. Want a modern product and can tolerate timeline risk with a developer I trust? Pre-construction can work - but the due diligence comes first.

No, you do not need a Bahamian bank account to purchase property. What you do need - and what I make sure every one of my buyers completes - is Exchange Control registration with the Bahamas Exchange Control Department at closing. Without this registration you cannot legally repatriate your sale proceeds or rental income internationally when you eventually sell or remit funds. It is straightforward but non-negotiable. Your Bahamian attorney handles it as part of the closing, and I make sure it is on the checklist every time.

The Bahamas Multiple Listing Service (MLS) is the centralized database of all properties listed for sale across The Bahamas, operated by the Bahamas Real Estate Association (BREA). It contains over 1,500 active listings updated in real time across all islands and property types. When you work with me, you get access to every MLS listing from every brokerage - including Damianos Sotheby's, H.G. Christie, Bahamas Realty, and Engel and Volkers. You do not need multiple agents. The commission is paid entirely by the seller, so working with me as your buyer's agent costs you nothing.