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Buying a B&B

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Islandrover
  5/9/2018 14:16 EST

Hi Folks, I'm new here. It looks like there are quite a few of you with some excellent local knowledge, so I hope to pick some brains ;) I'm looking at relocating from Canada to Long Island. The property I'm hoping to purchase is less than 250,000. It does have a secondary suite, and is set up to run as a bed and breakfast. Would I legally be allowed to run it as such? I know I won't be granted residency due to the low cost of the property, how much would I have to pay to stay each year as a year round resident. If I build on the site and raise the value of the property, would they reassess a residency permit? Any help, and or pointers as to where to find solid answers is appreciated. Thanks!

dolfie
  5/10/2018 20:34 EST

Once you have bought a home you can apply for a home owner permit.
This is annually and last time I checked it was $250.00 per year.
You can always apply for residency once you are a home owner and stay in the Bahamas.
It also depends on how you can contribute to the Bahamas.

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