Immigrating to the Bahamas
We Want Your Money, Not You
Although
the Bahamian government encourages offshore investing and has facilitated
the process of acquiring Bahamas real estate, the same can’t be
said for acquiring permanent residence.
 The Bahamas’
immigration policy was designed to protect the rights and income of the
local residents – not an unreasonable proposition considering the
flood of illegal immigrants from countries such as Haiti and Cuba the
nation receives each year. Consequently, getting a residence permit, far
less a work permit, can be a challenge.
Getting Permanent Residence
If you wish to buy Bahamas real estate valued at $250,000 or more, getting
permanent residence is easy. In fact, the Immigration Board generally
approves such applications automatically. Major international investors
and foreigners who have purchased, or intend to purchase, a local property
valued at $500,000 or more, receive accelerated consideration for their
residence application.
Homeowners can also obtain an annually renewable Home Owners Residence
Card, which acts as a visa for both entry and residence for $50, plus
registration fees.
It’s important to note that neither permanent nor annual
residence gives a foreigner the right to work in the country.
Getting a Work Permit
In order for a foreigner to work in the Bahamas, they must obtain a
work permit, which is only valid for that specific person and position.
This process is accelerated for senior personnel and those with special
skills not available locally, but other foreigners seeking employment
must undergo a rigorous and laborious process. In order for them to obtain
the work permit, the Immigration board must first consider whether they
believe that the person will be an asset to the islands. If they find
this to be the case, the prospective employer must advertise and interview
locally, and obtain a certificate from the Labour Exchange to the effect
that there is no equally qualified Bahamian resident available to fill
the post.
Oceania
Heights Real Estate
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