How to Buy a Home in the Bahamas
You have saved all your life for retirement. Now you are ready to buy a second home in a much warmer place. Most people head for Florida, but you want to go beyond that. The Bahamas is an option, given that there are over seven hundred islands that make up this archipelago nation. Here is how to buy a home in the Bahamas.
Register for Dual Citizenship
Land in the Bahamas, even land that is not currently occupied, is still under the rulership of Great Britain. The islands are owned by both the Bahaman people and Great Britain. As such, you can purchase a home, property or an island there, but only if you have dual citizenship between the U.S. and Great Britain. You can register for dual citizenship through the proper channels by visiting England and getting an appointment with the immigration office.
Once You Have Dual Citizenship, Start Shopping
Because a dual citizenship application may take up to two years or more to be approved, do not bother to shop for your Bahama home just yet. As soon as you have confirmed that you have dual citizenship, then you can start shopping. A real estate agency in the Bahamas can help you find a house and property that fits within your budget. You may have to rely on video tours, or you will have to stay in the Bahamas for six months or more while you search for and tour available homes.
Property Transfers and Titling
Property transfers and titling operate a little differently in the Bahamas than they do in the U.S. During your home-hunting process be sure to ask the real estate agent about how these services operate and whether or not they will cost you extra. Then you can be ready for this step once you have found the home and property you want to purchase.
Moving In
On moving day, head to port for anything you had shipped from the U.S. to move into your island home. You will have to sign for these items and move them through customs before they can be trucked to your house. If you bought an island, then you will need to hire a boat captain to haul your stuff to the island. Everything else you can buy from the nearest market on one of the fourteen inhabited islands and have it trucked or boated to the house. Anything for sale in the markets does not have to go through customs, so many retirees who do what you are doing usually just buy all of their furnishings from the markets instead.