Bahamas Permanent Residency: Who Qualifies, Costs, and Process

Bahamas permanent residency is granted mainly through a $1 million investment in Bahamian real estate or in Zero Coupon Bonds issued by the Central Bank, held for at least ten years, with alternative routes for spouses of Bahamian citizens and long-term work permit holders. The program is run by the Department of Immigration under the Immigration Act (Chapter 191), and the Immigration Board makes the final call on every application at its discretion.¹

Who Qualifies

Three groups can apply. Economic investors must put at least $1 million into Bahamian real estate or into Central Bank Zero Coupon Bonds, and hold the investment for a minimum of ten years. Spouses of Bahamian citizens qualify after five years of marriage, provided the marriage is still active and the couple is living together. Long-term workers who have held a legal work permit for more than twenty consecutive years qualify regardless of the permit’s salary scale; workers with ten to nineteen years of permit history qualify only if their permit fell within government scales 5 through 8.²

Meeting the category rules is not enough on its own. Under Section 13 of the Immigration Act, the Immigration Board weighs whether an applicant is at least eighteen, of good character, and genuinely intends to live in the Bahamas. The Board can also attach conditions to any certificate it issues, including restrictions on employment.¹

The $1 Million Investment Route

The economic pathway changed on January 1, 2025. Before that date, the minimum real estate investment was $750,000. The Immigration (Amendment) Bill, 2024 raised the floor to $1 million and introduced a second qualifying option: Zero Coupon Bonds purchased from the Central Bank of The Bahamas, with proceeds funding education, health, family island infrastructure, and youth sports programs.³

Whichever option you pick, the money has to stay in place for ten years from the date your certificate is approved. Selling the property or redeeming the bonds early can put your status at risk. For real estate, the government values the property at the purchase price or the appraised value, whichever is higher, so paperwork that undervalues a home won’t reduce the investment threshold.

Economic applicants file Form IV, which is a separate track from spousal and general applications and has historically moved faster. Spouses of Bahamian citizens use Form IV(A).²

Documents You Need to File

The Department of Immigration expects a full package at submission. A missing item can stall the file, so assemble everything before you file:

The completed application form (Form IV for economic applicants, Form IV(A) for spouses of citizens).
A police certificate issued within the last six months, covering at least five years of residence history, for every applicant aged 14 or older. U.S. applicants generally need a federal FBI Identity History Summary rather than a state or local clearance.
An original medical certificate from a licensed physician, dated no more than 30 days before submission.
An original bank reference letter confirming your account status and the length of the banking relationship.
Proof of investment for economic applicants: recorded conveyances, title deeds, or a Central Bank receipt confirming a bond purchase of at least $1 million.³
Character references from Bahamian citizens who know you personally, with full contact details. Family members cannot serve as references.
A copy of the bio-data page of your current passport.
Passport-sized color photos with your name printed on the back.

Authenticating Foreign Documents

Anything issued outside the Bahamas has to be authenticated before immigration officials will accept it. Documents from Hague Apostille Convention countries (including the United States, Canada, the United Kingdom, and most of Europe) need an apostille. Documents from non-member countries go through a separate legalization process.⁴

After apostille or legalization, the Bahamas Ministry of Foreign Affairs also authenticates the signatures. Non-English documents require certified translations, each carrying a Bahamian $10 postage stamp. For U.S. applicants, the FBI background check needs an apostille from the U.S. Department of State, and immigration officials typically want it issued within three to six months of the filing date.

What It Costs

Every application starts with a non-refundable $200 processing fee, paid at filing.⁵ Credit and debit cards, bank drafts, and Bahamian postal money orders are accepted. That fee is the same across all categories.

The real cost is the grant fee, charged only after the Board approves you. The amount depends on your category:

Economic PR with the right to work in your own business: $25,000
Economic PR without the right to work: $20,000
Standard PR (general category): $15,000
Long-term worker, 10 to 19 years on scales 4–7: $10,000
Long-term worker, 20+ years: $1,000 to $2,000, depending on permit scale
Teachers, nurses, and government-employed workers with 20+ years of service: $1,000
Spouse of a Bahamian citizen: $1,000
Applicant qualifying under Section 7 of the Bahamas Nationality Act: $50

Paying the grant fee triggers the issuance of your Certificate of Permanent Residence, which is valid for life unless revoked.⁵²

A spouse and dependent children under 18 can be endorsed on your certificate instead of filing separately. The endorsement fee is $300 per person.⁵ Children need proof of enrollment in a Bahamian school, or Ministry of Education registration if homeschooled. A child not accompanied by both parents needs legal custody documentation.

How the Application Moves

You submit the completed application, documents, and $200 processing fee to the Department of Immigration, either at headquarters in Nassau or at a designated regional office.⁶ Staff check the package for completeness before it enters the review pipeline.

The Ministry of Foreign Affairs recommends contacting the Department’s inquiries unit at 502-0550 within three to four weeks for a status update.⁶ Processing times vary. Economic applicants investing above $1.5 million have historically received faster consideration; standard files can take considerably longer depending on the backlog. The final decision rests with the Immigration Board under Section 13.¹ Once approved, you receive a notification letter and pay the grant fee to collect your Certificate of Permanent Residence.

What the Certificate Gets You

The certificate gives you the right to live in the Bahamas indefinitely. Whether it includes the right to work depends on the terms.² Economic applicants who pay the $25,000 grant fee receive the right to work in their own business. Those who pay $20,000 can live in the country but need a separate work permit to take employment.

Permanent residency is not citizenship. You cannot vote in Bahamian elections or hold public office. It does open the door: after ten years as a permanent resident, you become eligible to apply for citizenship, provided you have actually lived in the Bahamas for at least six of those years plus the full twelve months immediately before applying. Citizenship requires a separate application and is not automatic.⁷

How You Can Lose It

The certificate is for life, but Section 18 of the Immigration Act gives the Board grounds to revoke it.¹ The main triggers:

Living continuously outside the Bahamas for three or more years. This is the provision that catches paper residents who never establish a real presence.
Being imprisoned anywhere in the world for one year or more within five years of receiving the certificate. A sentence of seven years or more triggers revocation regardless of when it occurred.
Obtaining the certificate by fraud, false statements, or concealment of relevant facts.
Conduct the Board determines is against the public interest.
Violating any condition the Board attached to the certificate.

Spousal applicants face extra exposure. Divorce, legal separation, or annulment can end the certificate. If your Bahamian spouse dies and you later marry a non-Bahamian, that is also grounds for revocation.¹

Tax Cost of the Qualifying Purchase

The Bahamas has no personal income tax, no capital gains tax, and no inheritance tax, which is why the program appeals to wealthy applicants in the first place. Your worldwide income is not taxed by the Bahamian government.

Buying the property that qualifies you does carry a tax cost, though. Value Added Tax applies to real estate transfers, with rates that rise with the property’s value. Individual buyers pay from 2.5% on the first $100,000 of value up to 10% on amounts over $1 million. A $1 million property typically produces about $72,500 in VAT on the conveyance alone. Companies and other entities pay a flat 10% regardless of value. Annual real property tax also applies. Budget for these on top of the $1 million investment and the grant fee, because the true upfront outlay is considerably more than the purchase price.

Lighter Alternatives

Permanent residency is not the only way to spend serious time in the Bahamas. Two lower-commitment options exist for people not ready for a $1 million investment.

Annual Residence Permit

This permit lets you live in the Bahamas year to year. There is no formal property ownership requirement, though leasing or owning a home helps. The fee is $1,000 for the primary applicant and $25 per dependent. Processing is faster and lighter than permanent residency, which makes it a practical way to try the country before committing.

Homeowner’s Resident Card

If you own Bahamian property, you can apply for a Homeowner’s Resident Card, which lets you, your spouse, and minor children enter freely and stay for the card’s duration. You’ll need proof of ownership, a current real property tax receipt, medical and police certificates, and a completed Form IIA. The processing fee is $100 and the approval fee is $500.⁸ The card does not carry work rights and does not count toward the ten-year residency requirement for citizenship.

1
Government of The Bahamas. Bahamas Code Chapter 191 – Immigration
2
Bahamas Immigration Department. Permanent Residence
3
The Bahamas Government. Immigration (Amendment) Bill, 2024
4
Bahamas Immigration Department. Citizenship
5
Bahamas Immigration Department. Immigration Fee Scale
6
Ministry of Foreign Affairs The Commonwealth of The Bahamas. Applying for Permanent Residence
7
Ministry of Foreign Affairs The Commonwealth of The Bahamas. Applying for Citizenship
8
Ministry of Foreign Affairs The Commonwealth of The Bahamas. Applying for a Home Owners Resident Card