The Bahamas: A Place to Live, Work and Play

Tanya McCartney, CEO & Executive Director, Bahamas Financial Services Board, reports:

The Bahamas is located in one of the most idyllic tropical settings in the world and offers many incentives to relocate permanently or to establish a second home. The most advantageous conditions have been created for wealthy individuals and their families to live and work in a tropical paradise where their assets are protected and their confidentiality guaranteed.

This country of 700 islands and cays became independent of Great Britain in 1973 and prospered thereafter, its laws and policies making it a wonderland in which foreigners could invest and live. Wealthy individuals and their families consider relocating to tropical areas like The Bahamas for many reasons: a higher quality of life, an attractive business environment, retirement, tax neutrality and opportunities for business expansion.

The Bahamas affords persons who choose to make it their home with a politically and economically stable environment. The Privy Council in the United Kingdom is also the final court of appeal for The Bahamas. There are modern real estate developments with all the modern conveniences. Further, The Bahamas is ideal for families as it has a quality education system characterised by international schools accredited by the International Baccalaureate Organisation (IBO) and the Council of International Schools (CIS). There is easy access to banking and other financial services, healthcare and emergency services. Advanced infrastructure and services, access by way of modern airport facilities with nonstop flights to major US and international cities all make The Bahamas an attractive and welcoming option when considering a place to live and work.

In recent years, as more and more individuals have chosen to follow their money’, with respect to where they live and work, The Bahamas has become the preferred choice for many who yearn for an excellent quality of life whilst being able to manage their financial affairs. Individuals, family offices and institutions will find a warm welcome when they come to The Bahamas as the country is committed to utilising its natural resources and cultivated assets to create an environment that is attractive to business and the enjoyment of life.

Recognising the importance of a modern, progressive “national development-focused” immigration framework the Government has announced that it has approved a policy for the issuance of a tax residency certificate. This would be separate and apart from permanent residence. The Bahamas offers international persons a pathway to permanent residency which allows individuals to enter, live and work in The Bahamas with an investment of $750,000 in a residential property.