What it costs to buy property in Bahamas
A foreign buyer should budget roughly 7.0%–7.5% of the purchase price on top of the price itself. No licence or permit is required.
What you pay
- VAT on conveyance — your share5.0% of the price$25,000
- Legal fees2.0%–2.5% of the price$10,000–$12,500
| On a purchase of | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|
| VAT on conveyanceyour share of a split fee | $12,500 | $25,000 | $50,000 |
| Legal fees | $5,000 – $6,250 | $10,000 – $12,500 | $20,000 – $25,000 |
| Total on top of the price | 7.0%–7.5% | 7.0%–7.5% | 7.0%–7.5% |
Who carries the taxes and fees
What the seller pays — not you
- VAT on conveyance — 10%Rates effective 1 July 2023, charged on the greater of price and market value. Customarily split equally with the seller, though that is a commercial matter rather than a legal one.
Guides that add every tax together and present the total as a buyer's bill overstate the cost. These are the seller's.
Can you buy as a foreigner?
No licence required
No permit needed for a standard residential purchase, though the acquisition must be registered. A government permit is required for undeveloped land over two acres, or property intended for commercial or rental use.
No approval to wait for
With no permission to obtain, the timeline is set by conveyancing rather than by a government queue.
Take it with you
These figures as a PDF, worked out at the price you enter, with every source and the date it was checked.
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Nearby markets compared
What a foreign buyer pays on top of a $500,000 price, here and in the markets around it nearest in cost.
- BahamasNo licence7.0%–7.5%
- Turks and Caicos IslandsNo licence9.0%–9.5%
An estimate for budgeting, not legal or tax advice. These rates are traced to published sources but have not been reviewed by a practitioner in this jurisdiction. Confirm the current position with an attorney before you commit.
Sources: [1]