Buying an Island in The Bahamas – The Ultimate Guide
Dreaming of owning your own slice of paradise in The Bahamas? You’ve landed in the right place. This guide is a one-stop resource for investors like you, who are considering buying an island in this tropical haven.
Whether you’re looking for a personal sanctuary where you can revel in the peace and tranquility of your own private paradise, or you’re eyeing a commercial investment to develop an exclusive resort, we’ve got you covered. This guide will walk you through all aspects of buying an island, from finding islands for sale in The Bahamas to the finer points of the purchase process, ensuring your experience of the purchase process is as smooth and successful as possible.
Buying an island in The Bahamas
Contents
Is Buying an Island in The Bahamas a Good Idea?
How Much Does it Cost to Buy an Island in The Bahamas?
Can Foreigners Own an Island in The Bahamas?
Where are the Best Places to Buy an Island in The Bahamas?
How Do you Buy an Island in The Bahamas?
Investment Opportunities – Explore Islands for Sale in The Bahamas
Is Buying an Island in The Bahamas a Good Idea?
Owning an island in The Bahamas is a privilege accessible only to a select few. It’s an opportunity to own a property that offers an unmatched blend of privacy and freedom, surrounded by incomparable natural beauty.
Personal Use
For those considering investing in an island for personal use, The Bahamas is undoubtedly one of the world’s best locations. Comprising 700 islands and over 2,000 smaller rocks and cays sprinkled like jewels across miles of turquoise ocean waters, The Bahamas boasts a sheer number of islands for sale that few other destinations can match. And let’s not forget its natural beauty and balmy climate. Picture-perfect white and pink sand beaches, crystal clear ocean waters teeming with marine life, and year-round warmth await you. Plus, it’s a stone’s throw away from Florida, USA.
On top of that, The Bahamas has a stable political and economic environment, an investor-friendly attitude, and an enticing tax environment. For qualifying investors, there’s even a pathway to permanent residency.
Commercial Use
For investors looking to buy an island with the aim of opening a private island hotel or resort, The Bahamas doesn’t disappoint. As one of the region’s top tourist destinations, it’s already home to several well-established and successful private island resorts.
And the cherry on top? As a non-resident, you can purchase real estate in The Bahamas – including most islands – on a freehold basis. This makes it one of the most favorable destinations globally for buying a private island.
How Much Does it Cost to Buy an Island in The Bahamas?
The cost of an island in The Bahamas can fluctuate based on a few factors. Location, size, and desirable features such as deep water access for yachts or boats, panoramic views, ample space for a private airstrip, and beautiful natural elements like sandy beaches and safe swimming waters all play a part.
You may occasionally stumble upon a small island for sale in The Bahamas for under US $1,000,000, but these are rare finds.
On average, prices hover around US $1,000,000 to $3,000,000 for a relatively small island. For larger private islands that already come with existing buildings, infrastructure, and utilities, you’re looking at somewhere between US $10 to $60 million dollars.
Can Foreigners Own an Island in The Bahamas?
Absolutely! Foreign nationals can indeed own an island in The Bahamas. The Bahamian Government not only allows this, but they also warmly welcome foreign investment.
Unlike many other Caribbean and Central American countries, The Bahamas has a straightforward purchase process. Foreign buyers are not required to obtain any special licenses or permits to buy property.
You’ll receive full fee simple title and enjoy outright ownership.
Where are the Best Places to Buy an Island in The Bahamas?
The Bahamas is a kaleidoscope of island groups, each with its own unique charm.
The Exumas
With powder-soft beaches, crystal clear blue-green waters, and a well-earned reputation for hosting discerning international visitors, the Exumas is a top pick. This chain of 365 islands and cays stretches for 93 miles (150 km), offering a new island for every day of the year.
View: Islands for sale in the Exumas
Eleuthera
Eleuthera, made up of one main island and a string of smaller ones, is another favorite among private island buyers. These islands are lauded for their idyllic white sand beaches and shallow waters, perfect for world-class fishing, diving, snorkeling, and boating.
View: Islands for sale in Eleuthera
The Abaco Islands and the Berry Islands
Other sought-after areas include the Abaco Islands and the Berry Islands. The Abaco island chain, extending for 120 miles, is renowned for offering some of the world’s best boating, sailing, diving, and bonefishing.
View: Islands for sale in the Abaco Islands
The Berry Islands
The Berry Islands, a group of 30 cays, are famous for their stunning swim-ashore beaches, spectacular dive sites, and championship sport fishing – earning them the nickname “The Billfish Capital of The Bahamas.”
View: Islands for sale in the Berry Islands
How Do you Buy an Island in The Bahamas?
Buying property in The Bahamas as a non-resident is a relatively straight-forward process.
If you’re planning to use the island for residential purposes, you don’t need any special permit. However, if the island is over 5 acres in size or if you plan to use it for rental or commercial purposes, you must register your purchase with the Foreign Investments Board.
We strongly recommend non-resident buyers to ensure their attorney registers the purchase with the Central Bank of The Bahamas. This step is crucial for exchange control purposes, allowing you to repatriate the proceeds of any future sale in the original currency of the transaction.
For a deeper dive into the purchase process, check out our guide to buying property in The Bahamas.
Investment Opportunities – Explore Islands for Sale in The Bahamas
Ready to start your island hunt in The Bahamas?
To embark on your journey, we invite you to delve into the range of islands and cays scattered throughout this heavenly archipelago. Explore the best islands for sale in The Bahamas on our website.
Seeking Out Hidden Gems
While our site showcases a wide array of options, it’s important to note that it represents only a fraction of the private islands available for purchase. The Bahamas is a vast ocean of opportunity, and there are many more hidden gems waiting to be discovered.
Expert Guidance at Your Fingertips
Navigating the Bahamian island market can be a complex endeavor, which is why it’s essential to have an experienced guide by your side. Contact 7th Heaven Properties, the Luxury Caribbean Property Specialist, to access the full spectrum of investment opportunities in The Bahamas.
Our team possesses an intimate knowledge of the region, its properties, and the intricacies of the buying process. We’ll provide you with personalized service, ensuring that every aspect of your journey aligns with your unique aspirations and needs.
Your Dream Island is Waiting
With our expertise and your vision, your dream island is not just a fantasy – it’s a future reality. Whether you envision a tranquil personal retreat or a bustling resort, the perfect island is out there, waiting to be discovered. Your personal piece of paradise in The Bahamas is waiting.