Bahamas residency (2026): permits, $1M permanent route, BEATS and tax

Tax & Residency
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The Bahamas has no personal income tax, no capital gains tax and no inheritance, estate or gift tax, so a resident with foreign income pays nothing locally on it. The routes in are an annual residence permit, the BEATS remote-work permit ($1,025 a year for a professional) and economic permanent residence, which the Department of Immigration now lists at a minimum $1.0 million investment held for 10 years. The catch is cost: VAT is 10%, foreign buyers pay 10% VAT on property, living costs are high, and the country has no working tax residency certificate yet, which can make it hard to prove you have left your old tax home.

Last checked: October 2026

In short:

  • No income, capital gains, inheritance, estate or gift tax; the main taxes you feel are 10% VAT, real property tax and National Insurance if you work locally.
  • Economic permanent residence requires at least $1.0 million in real estate or Central Bank of The Bahamas zero-coupon bonds, held for 10 years, with a $20,000 or $25,000 certificate fee; the older $750,000 “accelerated” figure no longer appears on the Immigration Department’s page.
  • Treat the Bahamas as a place to live, not a paper residence: there is no rule-based tax residency test and no tax residency certificate in force, so your old country may still claim you.

What the Bahamas does and does not tax

PwC’s summary, last reviewed 21 July 2026, says: “There are no residency or domicile requirements for tax purposes in The Bahamas.” There is nothing to qualify for, because there is no income tax to be resident for.

Tax Rate in 2026 Notes
Personal income tax None Deloitte: “There is no individual income tax.”
Capital gains tax None PwC: “currently no capital gains taxes”
Inheritance, estate, gift tax None PwC and Deloitte
VAT (standard) 10% 5% reduced rate on some medical and hygiene products; unprepared food sold in food stores exempt from 1 April 2026, per PwC
VAT on property for foreign buyers 10% Graham Thompson: “all transactions are charged at 10%” for foreign persons
Mortgage stamp duty 1% of the amount secured Graham Thompson, Chambers Real Estate 2026
National Insurance (self-employed) 10.3% On earnings up to BSD 830 a week, per PwC; only if you work in the Bahamas
Real property tax Varies by value and class 2026/27 budget created a new foreign owner-occupied category

Deloitte’s 2026 highlights give a slightly different National Insurance ceiling (BSD 810 a week) from PwC’s BSD 830, so check the current figure with the National Insurance Board if it matters to you.

Residence routes compared

Route Who it suits Government fees (sourced) Can you work?
BEATS (remote work / study) Remote employees, freelancers, online students $25 application + $1,000 permit (professional); $500 per dependant Only for your foreign employer or clients
Annual residence (permit to reside) Property owners, retirees, dependants $200 processing + $3,000 a year (general resident); $300 a year per dependant No: residence “for any purpose other than working”
Home owner resident permit Owners of a habitable Bahamas home who also own a main home abroad $200 processing; annual fee not listed separately Not stated on the page
Economic permanent residence Investors of $1.0 million or more $200 processing + $20,000 (no business rights) or $25,000 (with business rights) Only with the business-rights certificate

BEATS: the remote-work permit

The Bahamas Extended Access Travel Stay (BEATS) programme is still listed as open on its official site, with applications through the Immigration Department’s portal. The FAQ sets out:

  • Fees: $25 application plus $1,000 permit for a professional, $1,025 in total. Each dependant is $25 plus $500. Students pay $25 plus $500.
  • Length: “an Annual Residence permit that expires 12 months from the date of issue”. Renewals may be considered “for a maximum period up to three years.”
  • Stay: “No minimum length of stay required.”
  • Processing: “an estimated five (5) day processing time”.
  • Income: no fixed income threshold is stated for professionals. Students must show they can cover living costs and return travel.

BEATS caps out at three years and is not a route to permanent residence on its own.

Annual residence and the home owner permit

The Immigration Department’s “Permit to Reside” page is now framed around students and dependants of people already authorised to reside, and states the permit allows residence “for any purpose other than working”. The separate Home Owner Resident Permit is for people who own “a primary residence in their home country and a habitable residence in The Bahamas”, under the International Persons Landholding Act. You need a registered conveyance, the International Landholding Certificate, proof of real property tax paid and proof you own your main home abroad. The page does not give a minimum property value.

The fee scale lists a general annual resident at $3,000 a year (or part year) and dependants at $300. Expect 8 to 12 weeks: the permit page tells applicants to contact the Consultation Unit “within an 8 to 12 week period” after filing.

Economic permanent residence: verify the threshold

Many advisers still quote “$750,000 for accelerated consideration” or “$1.5 million for speedy processing”. The official page, checked October 2026, says:

“To qualify for economic Permanent Residency status, individuals must make a minimum investment of $1.0 million, either through real estate investments or the purchase of Zero Coupon Bonds from the Central Bank of The Bahamas. In both cases, the asset must be held for a minimum of 10 years.”

It does not mention an accelerated $750,000 tier. Treat any lower figure as unconfirmed until the Department or the Bahamas Investment Authority confirms it in writing for your file.

Costs: a $200 non-refundable processing fee, then $20,000 for an economic certificate without business rights or $25,000 with business rights. Endorsing a spouse or child on the certificate is $300, and the spouse category under the fee scale runs from $1,000 to $5,000 depending on the case. You also need a medical certificate dated within 30 days, a police certificate covering five years, two character references and apostilled documents.

Buying property as a foreigner

The International Persons Landholding Act governs foreign ownership. According to Graham Thompson’s chapter in Chambers Real Estate 2026:

  • Single-family homes: a foreign buyer buying “for single-family residential use only” can register the purchase after closing with a Certificate of Registration. No pre-closing permit is needed.
  • Other purchases: a permit is required for land transactions “other than one-off purchases of residences or vacation homes”, and it “must be obtained as a condition for closing”. Without it, the conveyance can be void.
  • VAT: foreign persons pay 10% on all transactions. Bahamians and permanent residents use a sliding scale from 2.5% (under BSD 100,000) up to 10% (over BSD 1 million). Buyer and seller customarily split it 50/50, but that is negotiable.
  • Mortgages: stamp duty of 1% of the amount secured.

On money: since 1 October 2019 the Central Bank no longer requires an exchange control application for residential property deals involving non-residents. You still need the landholding approvals, and non-residents cannot finance purchases with Bahamian dollar credit. Bring foreign currency.

Real property tax. Rates depend on value and on whether you live in the home. The 2026/27 budget, effective 1 July 2026, changed the owner-occupied threshold and created a new category for foreign owner-occupied property, per KPMG. Ask the Department of Inland Revenue for the current schedule before you model costs; rates quoted in older guides may be out of date.

The tax residency certificate problem

This is the issue most people discover too late. Countries such as the UK, Canada or Australia decide whether you have left by their own rules, and many treaties and banks ask for a certificate from your new country. The Bahamas has no income tax, no tax return and no statutory residence test, so it has nothing to certify.

The government has promised a tax residency certificate since 2020. In June 2025 the Minister of Economic Affairs said “we continue to pursue implementation of our tax residency certificate”, and The Tribune reported it was still incomplete. As of October 2026 we could not find it in force.

What to do instead:

  • Keep evidence of real life in the Bahamas: residence permit, title deed or lease, utility bills, local bank account.
  • Cut the ties your old country counts, such as an available home, work days and day counts.
  • Read Leaving the UK (2026): Statutory Residence Test, split year and FIG regime if you are leaving the UK. US citizens stay taxed on worldwide income wherever they live.

Banking and daily life

  • Banking. Expect full due diligence: reference letters, source of funds, proof of address and your residence status. Opening is easier once you hold a permit and a local address. Non-residents can buy property in foreign currency without Central Bank approval, but they cannot borrow in Bahamian dollars for it.
  • Exchange control. Capital transactions such as loans, dividends or repatriation can need Central Bank approval, per Deloitte. Keep investment funds offshore if you want flexibility; see Offshore bank account (2026): what’s legal, costs, where to open.
  • Cost of living. VAT at 10% on most goods and services, island logistics and insurance costs make Nassau expensive. Price groceries, power, home insurance and health cover locally before you commit.

Is it right for you?

The Bahamas fits people with foreign or passive income who want an English-speaking, zero-direct-tax base and are happy to buy property. It fits less well if you need a certificate to prove residence, want a cheap base, or plan to run a local business. Compare it with the other zero-tax options in Tax-free countries (2026): no income tax countries you can actually live in and with Caribbean passports in Citizenship by investment (2026): Caribbean programmes compared.

Related guides: Low-tax residency for high earners (2026): 14 regimes compared · Tax-free countries (2026): no income tax countries you can actually live in · Citizenship by investment (2026): Caribbean programmes compared · Offshore bank account (2026): what’s legal, costs, where to open · Leaving the UK (2026): Statutory Residence Test, split year and FIG regime

Quick answers

Q: Do you pay income tax if you live in the Bahamas?
No. The Bahamas has no personal income tax, capital gains tax, or inheritance, estate or gift tax, according to PwC and Deloitte. You still pay 10% VAT on most spending, real property tax on your home, and National Insurance if you work locally. Your former country or citizenship may still tax you.

Q: How much do you need to invest for Bahamas permanent residence?
The Department of Immigration’s page lists a minimum of $1.0 million in real estate or Central Bank zero-coupon bonds, held for at least 10 years. The certificate costs $20,000 without business rights or $25,000 with them, plus a $200 processing fee. Older $750,000 figures are not shown on the official page.

Q: Is the Bahamas BEATS remote work visa still open?
Yes. The official BEATS site, checked October 2026, still takes applications through the Immigration portal. A professional pays $25 plus a $1,000 permit, dependants $25 plus $500 each. The permit lasts 12 months, renewals can run to a maximum of three years, and there is no minimum stay.

Sources

This is general information from the Nomad Forums team, not legal, tax or financial advice. Rules change; check the official source or a qualified adviser before acting.

Over to you: If you have applied for Bahamas permanent residence recently, what threshold were you told and how long did it take? And how did you prove to your old country that you had left, without a Bahamian tax residency certificate?

Low-tax residency for high earners (2026): 14 regimes compared