Ask Glenn Ferguson
Bahamas Residency
Through a Condo

The most common route is Economic Permanent Residency (EPR) through a qualifying real estate investment of USD $1,000,000 or more, effective January 1, 2025. EPR is valid for your lifetime. You can also invest in Zero Coupon Bonds from the Central Bank of The Bahamas at the same threshold. A Home Owner's Residence Card is available for properties at $250,000 or more but must be renewed annually and is not permanent status. I handle property search, purchase, and EPR application as one coordinated service - zero cost to you since the seller pays my commission.

Effective January 1, 2025, the Bahamas government increased the minimum investment required for Economic Permanent Residency from $750,000 to $1,000,000 BSD (approximately USD $1,000,000 given the 1:1 peg). At the same time, a new requirement was introduced: EPR certificate holders must now maintain their qualifying investment for a minimum of 10 years, otherwise the Immigration Board may revoke their residency status. Additionally, Zero Coupon Bonds from the Central Bank were added as an alternative qualifying investment alongside real estate.

The Bahamas has zero personal income tax, zero capital gains tax, zero inheritance tax, zero estate duty, zero wealth tax, and zero tax on dividends or interest. The Bahamian dollar is pegged 1:1 to the US dollar. There is no automatic tax on worldwide income simply by becoming a Bahamian resident - however, your tax obligations in your country of citizenship may continue depending on your specific situation and domicile status. I always advise confirming your full tax position with a qualified tax advisor in both The Bahamas and your home country before making any investment decisions.

The government application fee is $20,000 BSD for standard EPR (no work rights) or $25,000 BSD if you want EPR with work rights included. These fees are non-refundable. Additional endorsements for dependents cost $300 per family member (spouse and children under 18). The initial application processing fee at the Department of Immigration is $100 BSD. These government fees are separate from my services - my commission is paid by the seller at no cost to you. Attorney fees for conveyancing and EPR filing are additional and should be budgeted separately.

Standard EPR processing typically ranges from 6 to 18 months from a complete and properly submitted application. Purchases at $1,500,000 or more are eligible for priority accelerated consideration from the Department of Immigration - the government website confirms that persons purchasing at $1.5M or more will get speedy consideration, though no guaranteed timeline is published. I file the EPR application alongside your property closing to begin the processing clock as early as possible. Contact the Immigration inquiries unit at (242) 502-0550 three to four weeks after submission for a status update.

No. Standard Economic Permanent Residency does not grant the right to work in The Bahamas. EPR holders may reside indefinitely and operate personal investments, but cannot be employed by a Bahamian business without a separate work permit. If you need work rights included, the government fee increases to $25,000. The distinction between passive investment income (which is fine under standard EPR) and active employment in The Bahamas is an important one - discuss your specific situation with a licensed Bahamian immigration attorney before applying.

Yes. Your spouse and dependent children under 18 can be included in your EPR application at an endorsement fee of $300 per family member. No additional qualifying investment is required for dependents - your single $1,000,000+ property purchase covers the whole family. Family members included on the certificate receive the same right to reside permanently in The Bahamas. Adult children over 18 must make their own separate EPR application if they wish to hold independent residency status.

No. Full-time residency is not required. EPR holders are expected to reside in The Bahamas for a minimum of 90 days per year and must maintain ownership of the qualifying property for at least 10 years. EPR holders must also file a declaration every 10 years confirming no material changes since the original application. If the property is sold within the 10-year hold period, the Immigration Board may revoke your EPR status. I advise all clients to discuss the property hold and residency requirements with their Bahamian attorney before signing any purchase agreement.

A Home Owner's Residence Card (HORC) is available to property owners with a property valued at $250,000 or more. It facilitates entry and allows stays of up to one year at a time but must be renewed annually at $250. It is not permanent status and confers no path to citizenship. Economic Permanent Residency (EPR) requires a $1,000,000 minimum investment and is valid for your lifetime without annual renewal, subject to the 10-year hold and 90-day annual residency requirements. EPR also provides a pathway to citizenship after 10 years of qualifying residency. For buyers below the EPR threshold, the HORC is a useful interim status while building toward a qualifying purchase.