Who owns houses in the Bahamas?

Famous faces are constantly on the paradise shores of The Bahamas, with the likes of Lenny Kravitz, Nick Cage and Mariah Carey all owning property there. It has also seen the likes of visitors such as Johnny Depp, Jennifer Aniston, Angela Bassett, Oprah Winfrey, Martha Stewart and Jennifer Hudson.



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Nicolas Cage - owns estate residence on Paradise Island and a private island in the Exuma chains. Mariah Carey - owns a house on Windermere, a private island connected to Eleuthera, where she married Nick Cannon in 2008. Mike Oldfield - guitarist/composer (Tubular Bells etc.)

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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.

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Fifty five percent of usable Bahamas real estate is owned by the government with all other property vested in private ownership or tagged as wet' Crown land.

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The Gross Domestic Product (GDP) of The Bahamas is approximately $5.7 billion with tourism accounting for 50%, financial services nearly 20% and the balance spread among retail and wholesale trade, fishing, light manufacturing and agriculture.

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There are a few options for you to apply for permanent residence, the most obvious one being marriage to a Bahamian citizen. Other ways of qualifying for permanent residence are: purchasing a residence in the Bahamas. legally working or living in the Bahamas for more than 20 consecutive years.

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The Bahamas' favorable tax environment is another significant draw for property buyers, offering numerous advantages such as no income tax, capital gains tax, or inheritance tax. This tax-friendly atmosphere makes it an appealing destination for investors and those seeking to optimize their financial portfolios.

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Freedom to Live Your Way Unlike the fast-paced lives of the west, Bahamas is a pretty much peaceful country, so even those who like lying back for a while can have a great life here. Note that crime in Nassau is quite high, so keep this in mind when visiting or living in the city center.

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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.

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Right up there with the stunning physical attributes of The Bahamas is the cuisine of the islands, which is diverse, delicious, and in some cases, daring. Some of the common items you'll find on your plate are shellfish, lobster, conch, crab, fish, fruits, potatoes, pigeon peas, rice, and pork.

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