Bahamas
The Islands Of The Bahamas form a 100,000-sq-mile archipelago that extends over 500 miles of the clearest water in the world. Our 700 islands, including uninhabited cays and large rocks, total an estimated land area of 5,382 sq. miles, and register a highest land elevation of 206 ft. on Cat Island. With 700 islands sprinkled out over 100,000 sq. miles of ocean, The Bahamas offers the largest assortment of vacation spots of any tropical destination.
Capital: Nassau
Language: English
Religion: Christian
Currency: Bahamian Dollar [BSD]
Climate: tropical marine; moderated by warm waters of Gulf Stream
Time zone: GMT -5
Getting there: There are approximately 57 airports throughout The Bahamas, including three International airports (Nassau/Paradise Island, Grand Bahama Island, and The Exumas); 24 of these airports are official ports of entry to The Islands Of The Bahamas.
BUYER'S GUIDE:
Under the International Persons Landholding Act, permits are required for land purchases made by non-Bahamians only if the property being bought is larger than five contiguous acres, or the buyer intends to rent out all or a part of the real estate or develop it for commercial purposes.
Non-Bahamians must register their purchase of any type of property, however, with the Secretary to the Foreign Investments Board. The fee to apply to register a property, or to apply for a permit, is $25. Once the certificate of registration or permit is issued, the additional fees due depend on the value of the property:
Registration Fees: $50 to $100 depending on the value of the property
Stamp Tax: 2% to 10%
Legal Fees: These are established by the Bahamas Bar Association, and typically amount to 2-1/2% of the gross sale price of the property. Legal fees are normally shared equally between the seller and the buyer.
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