Bahamas homeowners' card? Is it a good option?

[Nicholas Van Orton]

I think this would qualify as a direct question for Mr. MbS @Martin Everson , but I thought it best to publish it as a thread so anyone can add value to it.

Looking at the government of Bahamas' immigration page, I found the homeowners' resident card (which would include your spouse/husband + any minor descendants you might have), valid and renewable for as long as you hold the real estate asset under your name (and are obviously up-to-date with the tax payments). I've seen some distressed properties selling cheap (any reason why?), even from financial institutions like Bank of Bahamas, who publish it on their website, and this would make this an interesting option for me.

Question then for MbS and anyone else who wants to join...is this so? is it an easy process and as straightforward as claimed? will the banking be an easy option once you get the card? Thanks.

NVO

 

[AlbanyJames]

Martin may know more, but last I heard most banks were not even accepting the yearly residency cards ( I believe are harder to receive?)

 

[Martin Everson]

I've seen some distressed properties selling cheap (any reason why?), even from financial institutions like Bank of Bahamas, who publish it on their website, and this would make this an interesting option for me.

Did they show the latest pictures of property in advert. Sometimes it is hurricane damaged property with roof missing when you go and see it in person.

 

[Nicholas Van Orton]

Did they show the latest pictures of property in advert. Sometimes it is hurricane damaged property with roof missing when you go and see it in person.

I was more interested in the validity/reliability of the homeowners' card program, to be honest. Whatever distressed unit I'd plan to buy will come at a later stage.

 

[AlbanyJames]

What's your budget? Out of curiosity?

I just don't think the homeowners card is worth much for banks, like I said above, I know most banks don't even take the Annual residency into consideration which is harder to obtain than the homeowners.

Permanent residency w/ utilities+drivers license+real place of residence is welcomed pretty much everywhere.

Rules are changing soon and from what I hear you will need a tax residency certificate as well.

 

[Nicholas Van Orton]

@AlbanyJames I'm looking for away to enhance my current structure, and was comparing different residency/citizenship options in Central America. Budget around 6 figures at most, but I'm looking at a good price-to-reward ratio, whereby I can make the most of what I get, hence my starting of this thread. By the looks of it, after reading your posts, the homeowners' option doesn't quite make the sense I thought it did.