The Private Islands of the Bahamas are the stuff dreams are made of when it comes to luxury Caribbean real estate. This tropical archipelago encompasses 700 islands and approximately 2500 cays with warm tropical breezes and a million different shades blue waters. LX Bahamas Luxury Realty Group is a full-service real estate brokerage and our services include private island sales.
Bahamas Private Islands typically carry a high price tag due to the demand for tropical private island real estate by high net-worth individuals. Private Islands in the Bahamas typically cost in excess of $1-million dollars.
In the Bahamas freehold Private Islands are available to non-residents which makes the Bahamas an attractive location for private island real estate investment. The Bahamian archipelago starts just 50-miles east of Miami and spans over 600-miles to the southwest. On a private island in the Bahamas you are as near or as far from civilization as you want to be. Many islands have private airstrips and private island owners can jet directly their tropical luxury retreat via jet or yacht.
Buying a Private Island in the Bahamas is simple for non-residents with just a few requirements. Non-Bahamians must register a private island purchase with the Foreign Investments Board. Additionally, special permits will be required if the property is over five acres in size. If the property is intended to be used partially as a rental, or commercial development, permits will also be required. No additional permits are required if the intended use of the island is for residential purposes. Foreign purchasers should also request their attorney to register any property investment with the Central Bank of the Bahamas for exchange control purposes. This will allow the private island owner to repatriate the proceeds of the sales out of the Bahamas in the original currency of the purchase transaction. A purchase in excess of US$750,000 will entitle the purchaser to apply for Bahamian Permanent Residency and a purchase in excess of US$1.5 million will entitle the purchaser to fast-tracked approval for Bahamian Permanent Residency.