We would like to ensure that you are still receiving content that you find useful – please confirm that you would like to continue to receive ILO newsletters.
14 February 2019
The Bahamas thrives as a stable economy which is supported by:
As a developing nation, foreign direct investment (FDI) remains one of the key catalysts to the Bahamian economy's growth and sustainability. The Bahamas National Investment Policy seeks to boost the economy through investments and provide favourable returns for investors. It encourages FDI in key areas in the real estate market, including:
The World Investment Report 2018 refers to The Bahamas as a leading destination for FDI in small island developing states. The impact of FDI in the real estate market can be seen in developments such as Albany, Atlantis, Baha Mar, Harborside Resort at Atlantis, Ocean Club Estates, Ocean Club Residences and Marina, One Cable Beach and The Pointe, as well as the yet to be completed Margaritaville Beach Resort and Marina.
The development of luxury resort communities and condominiums and the acquisition of private islands and cays have made The Bahamas an attractive place to invest in the second-home market. Along with minimal property taxes, foreign investors are eligible for:
The following key pieces of legislation benefit foreign investors in the real estate market:
The Bahamas Investment Authority (BIA) regulates FDI. It is important that foreign investors that are seeking to acquire property obtain the advice of local legal counsel and provide all required documents for a project proposal to be submitted to the BIA. The legal counsel will also assist with obtaining regulatory approvals and permanent residency for the investor.
There are vast benefits to FDI in the real estate market; therefore, foreigners are encouraged to invest in The Bahamas' developing islands.
For further information on this topic please contact Kendira R Turnquest at at Lennox Paton by telephone (+1 242 502 5000) or email (firstname.lastname@example.org). The Lennox Paton website can be accessed at www.lennoxpaton.com.
The materials contained on this website are for general information purposes only and are subject to the disclaimer.
ILO is a premium online legal update service for major companies and law firms worldwide. In-house corporate counsel and other users of legal services, as well as law firm partners, qualify for a free subscription.