It has been estimated that there are 30,000 Americans living in the Bahamas.
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The archipelago that makes up the Bahamas is located broadly between Florida and Cuba, in the Atlantic Ocean. Of the 700 islands, only 30 are inhabited. Most expats moving to the Bahamas find themselves relocating to New Providence Island, where roughly two-thirds of all inhabitants live.
The Bahamas does have a high cost of living , which is a result of the country's imposition of high value-added taxes on groceries, furniture, appliances, and clothing. This isn't too much of an issue if you're planning to buy a vacation home but for those who want to buy a permanent home, it could be a factor.
There are no restrictions on foreigners buying property in the Bahamas. Property purchasers are eligible for an annual Home Owners Resident Card, and those buying a property valued at $500,000 and above are given priority in permanent residence applications.
Non-Bahamians who own second homes in The Bahamas may apply for an annual homeowner's residence card. This card is renewable annually and intended to facilitate entry into The Bahamas with minimal formalities. The holder is entitled to visit The Bahamas for a stay of up to one year. Government fee: USD 250.00 p.a.
Summary of cost of living in Bahamas: A family of four estimated monthly costs are 4,894.4$ without rent.A single person estimated monthly costs are 1,385.7$ without rent. Cost of living in Bahamas is, on average, 23.8% higher than in United States.
Expect to pay more than $25 a plate for something as mundane as shrimp over linguine—and that's at a casual sports bar outside Nassau. Of course, where there's a will, there's a way to eat cheap in the Bahamas, and you can bet that it involves local food.
With a population of around 393,000 and close to 2 million yearly visitors, this means that the Bahamas has a low-to-moderate crime rate. On Numbeo, a safety and cost of living database, The Bahamas has an overall crime index rating of 61.42.
To get a retirement visa in the Bahamas, there are a couple of options. The first is to purchase a property in the Bahamas worth over half a million U.S. dollars, then apply for permanent residency. The second option is to purchase a property in the Bahamas then apply for an Annual Homeowner's Card.