Hi Andrew,

Unfortunately, gaining permanent residency with purchase of a home does not afford you the right to work. You would need to apply for that separately, and unless you intend to own (as in, 49% own) a business, you would likely not gain the right to work for at least 10 years.

As for being able to work as a real estate agent, her is a page from the Bahamas Real Estate Association - if you have the right to work, you can become a realtor here.
http://www.bahamasrealestateassociation.com/page.php?page=15

Unfortunately, without the right to work, you likely would not be able to be employed as a realtor as there is an abundance of realtors here who are already eligible to work. In order to be granted a work permit, you.your potential employer would need to prove that no one who is already eligible to work is interested in the job.

Now, all that said you have said that you are a real estate investor, and so you may choose to find a Bahamian partner and set up a company here as a real estate investor. Then, you would get the right to work within your business.

Hope that helps!

Post a Reply

00abuse

Choosing an expat health insurance provider is an important decision. Get a quote from our trusted expat health insurance partner, CIGNA. With Cigna Global Health Options, you can create an international health insurance plan that's perfectly tailored for the needs of you and your family.

Learn More Get a Quote

Thank you Breija,

While I was aware of the bits and pieces, your answer bring a lot of clarity!

A related question, if I own a few rental properties in the Bahamas, am I allowed to manage these properties (find tenants, run ads, collect rents, maintenance of buildings etc) without having the right to work?

Or would I be required to hire a management company to oversee my investments? Thanks again for taking the time!

Post a Reply

00abuse

Hi Andrew,

This is a question I think you should ask a realtor. They would be up on the current laws about this.

Keep in mind that you would be best to register a property management company, because then you would be able to claim back VAT on your purchases and services, which would offset the VAT that you charge for rent.

Again, though, a realtor would be able to more confidently answer this question. What I suggest is that when you find a real estate company, go with the realtor with the same last name as the company. That way you will know that you are asking the question of a seasoned realtor.

Glad my response was helpful.

Post a Reply

00abuse

Hi Andrew, I am looking into buying in the bahamas for business purpose, and I am interested in having a partner in this venture,
let me know what you had in mind.

Post a Reply

00abuse

Hello Megane,

After a lot of research, I am leaning towards Belize as my future home/investment destination instead of the Bahamas.

Belize doesn't put any restrictions on the industries you can work in, and you can eventually get Belizean citizenship if you prefer. Bahamas restricts some of the most common work for their own citizens (Real Estate/Retail Sales etc is excluded for expats).

Hope this helps.

Andrew

Post a Reply

00abuse