International Investments
The Bahamian Government also gives quick consideration to application for annual or permanent residency by major international investors and owners of residences valued $500,000.00
Approval from the government is not needed for non-Bahamians to purchase residential properties of less than 5 acres. These purchases are simply registered with the Investments Board. In cases where the land is 5 acres or more, an application is made to the Investments Board for a permit. A permit is approved through the declaration of the investor that the land will be used for development and not for pure speculation. For large projects, an application is also made to the Bahamas Investment Authority (BIA) for approval. A project proposal, financial projections and the employment needs of the project must be included. You will also apply to the Central Bank for approved investor status. This is done in the event that you later decide to sell the land; you will be able to repatriate the proceeds, as evidence will have been provided of the foreign source of the purchase money.
Project Proposal Guideline
General
To ensure the maximum benefit to The Bahamas from the National Investment Policy, certain immigration provisions will apply:
Areas Targeted For Overseas Investors
Areas Reserved For Bahamians
Approval from the government is not needed for non-Bahamians to purchase residential properties of less than 5 acres. These purchases are simply registered with the Investments Board. In cases where the land is 5 acres or more, an application is made to the Investments Board for a permit. A permit is approved through the declaration of the investor that the land will be used for development and not for pure speculation. For large projects, an application is also made to the Bahamas Investment Authority (BIA) for approval. A project proposal, financial projections and the employment needs of the project must be included. You will also apply to the Central Bank for approved investor status. This is done in the event that you later decide to sell the land; you will be able to repatriate the proceeds, as evidence will have been provided of the foreign source of the purchase money.
Project Proposal Guideline
- Name and address including telephone/fax.
- Executive summary of project.
- Type of Business – whether share company, partnership, individual or joint venture.
- Principals – investors, major beneficial shareholders, including their dates and places of birth, as well as passport or social security numbers.
- Proposed location.
- Land requirements.
- Start-up date.
- Employment projections – number of Bahamian and non-Bahamian employees.
- Management/personnel requirement – years of experience, training and work permits* for key personnel.
- Financial arrangements for project, including bank reference.
- Environmental impact – toxic input.
- Total capital investment in project with a breakdown of items and start-up cost. Minimum investment is $500,000.
General
To ensure the maximum benefit to The Bahamas from the National Investment Policy, certain immigration provisions will apply:
- Permanent Residence – Accelerated consideration of applications for permanent residence is now provided to purchases of homes valued at $1.5 million or more.
- Access to Credit Facilities of the Bahamas Development Bank – The Bahamas Development Bank was created to assist Bahamians in establishing new businesses or expanding existing concerns through the provision of concessionary funding and technical assistance, for projects which generate jobs and which contribute to the economic growth and development of The Bahamas.
Areas Targeted For Overseas Investors
- Touristic resorts.
- Upscale condominium, timeshare and second home development.
- Marinas.
- Information/data processing.
- Assembly industries.
- High-tech services.
- Ship registration, repair and other ship services.
- Light manufacturing for export.
- Agro-Industries.
- Food Processing.
- Mari-culture.
- Banking and other financial services.
- Captive insurance.
- Aircraft services.
- Pharmaceutical manufacture.
- Offshore medical centers.
Areas Reserved For Bahamians
- Wholesale and Retail Operations*.
- Commission agencies engaged in the import/export/trade.
- Real estate and domestic property management agencies.
- Domestic newspapers and magazines.
- Domestic advertising and public relations firms.
- Security services.
- Distribution of building supplies.
- Construction companies, except for special structures for which international expertise is required.
- Cosmetic/beauty establishments.
- Shallow water scale-fish, crustacean, mollusk and sponge-fishing operations.
- Auto and appliance service operations.
- Public transportation.
