What do I need to know before retiring in Paradise Island?

"Expats considering retiring in Paradise Island, should be aware of several factors before making the move. Firstly, they should research the cost of living, which can be high due to the island's reliance on imported goods. This includes housing costs, groceries, utilities, and transportation. It is essential to understand the residency and visa requirements for living in the Bahamas. Retirees can apply for a permanent residency permit, which allows them to live in the country without working. This permit requires proof of financial independence and a clean criminal record. Healthcare is another important consideration, as the quality of medical facilities on Paradise Island may not be up to the standards of those in the expat's home country. Expats should ensure they have adequate health insurance coverage and may need to travel to Nassau or the United States for more specialized care. The climate in the Bahamas is tropical, with warm temperatures and high humidity year-round. Expats should be prepared for hurricane season, which typically runs from June to November, and take necessary precautions to protect their property. The official language of the Bahamas is English, making it relatively easy for expats from English-speaking countries to communicate with locals. However, it is still essential to learn about and respect the local culture and customs. Taxes are another important factor to consider. The Bahamas does not have an income tax, but there are other taxes, such as property tax and value-added tax (VAT) on goods and services. Expats should consult with a financial advisor to understand their tax obligations. Finally, expats should consider the availability of social and recreational activities on Paradise Island. While the island offers beautiful beaches and a relaxed lifestyle, it may not have the same range of cultural and entertainment options as larger cities. Expats should be prepared to adapt to a slower pace of life and find ways to stay engaged and connected with their new community," said another expat in Paradise Island, Bahamas.

What do I need to know before retiring in Paradise Island?