Acquisition of Land

The purchase of land by non-Bahamians for the purpose of hotel and resort development, time-share, mixed-use, subdivision or condominium development requires coordination with several government departments. We offer the complete range of advisory services including applying for regulatory approvals, negotiating the terms of sale, settling the Agreement for Sale, reviewing the documentary title and closing the transaction. Closings are generally less formal than in other jurisdictions - you are not likely to find all of the parties sitting across from one another with their attorneys and bankers on the closing date. It is more common for closings to occur by the delivery of documents in escrow pending final payment.

The International Persons Landholding Act regulates the ownership of land by non-Bahamians who wish to purchase commercial property or land exceeding two acres in size. In these circumstances, prior to the purchase, a permit must be obtained from the Bahamas Investments Board. Otherwise, non-Bahamians wishing to purchase a home or condominium or land under two acres for use as owner-occupied property or who have acquired land under a devise or by inheritance must simply register their acquisition with the Bahamas Investments Board after the fact. Permanent Residents are only required to register their ownership of land once the acquisition is completed.

Accelerated consideration of applications for permanent residence will be given to non-Bahamians who purchase developed land valued at $500,000 or more. We offer assistance in preparing and filing applications with the Department of Immigration.