Where should I setup a bank account in Grand Bahama?

"Expats considering retirement in Grand Bahama should be aware of several key factors. Firstly, the cost of living can be high, particularly for imported goods due to import duties. Healthcare facilities are generally good, but for serious medical conditions, you may need to travel to Nassau or the United States. The official language is English, which can make the transition easier for English-speaking expats. The Bahamas has a tropical climate, with hurricane season typically running from June to November. Real estate can be expensive, but there are no property taxes. However, there is a one-time stamp duty on real estate transactions. The Bahamas has a residency program for retirees, which requires proof of financial independence. There is no income tax, capital gains tax, or inheritance tax in the Bahamas, which can be beneficial for retirees. The crime rate is higher than in some other Caribbean countries, particularly in Freeport and Nassau, so it's important to take safety precautions. Finally, while the Bahamas is a beautiful place with a relaxed lifestyle, it can also be a cultural adjustment. It's recommended to spend some time there before deciding to retire to get a feel for the pace of life and the culture," explained one expat living in Grand Bahama, Bahamas.

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