A non-Bahamian or a Permanent Resident, who acquires an interest in a condominium or property to be used by him/her as owner-occupied, or for construction of such a dwelling, must apply to the Secretary to the Investments Board to register the purchase.
The purpose of Certificates of Registration is to enable certain categories of non-Bahamians to merely register their acquisition of an interest in land or a condominium in The Bahamas without having to obtain the prior approval of that acquisition from the Government of The Bahamas.
This process is needed for any of the following scenarios:
- Non-Bahamians acquiring an interest in land or a condominium to be used as an owner-occupied property, provided that such land is undeveloped and it is less than two adjoining acres.
- Permanent Residents of The Bahamas.
- Non-Bahamians acquiring an interest in land under a devise or by inheritance.
- Non-Bahamians acquiring an interest in land by virtue of any court order or as a mortgagee.
- Non-Bahamians acquiring leasehold interest for trade or business for a period greater than 21 years.
- Complete the entire Form 1.
- The applicant must pay the requisite fee at the Public Treasury.
- A copy of the receipt must accompany the completed Form 1 application for Certificate of Registration.
- Submit Form 1 to the Secretary to the Investments Board, along with the list of documents identified below.
- The BIA would then process the application, issues the Certificate and informs the applicant that the Certificate is ready for collection in writing.
Form 1 - Certificate of Registration, International Persons Landholding Act, 1993.
- Copy of National Photo Identification (Passport, Driver’s Licence, etc.) .
- (i) Written confirmation that due diligence has been completed to meet “Know Your Customer” (KYC) requirements, pursuant to the Financial Transactions Reporting Act, 2000.
(ii) Copy of completed KYC form.
- Police Record / Certificate from current country of residence or Sworn Affidavit where applicable (must be current).
- Character Reference (must be current).
- Copy of site plan of land being acquired / purchased (please include size).
- Bahamas Immigration Status.
- Social Security Number / National Identification Number.
- Real Property Tax Assessment Number.
- Evidence of Payment of Real Property Tax (must be current).
- If the applicant is a Bahamian Registered Company a copy of Certificate of Incorporation / Registration in The Bahamas is required.
- Financial Reference (must be current).
- Source of Wealth (If self employed, state in which field and provide evidence thereof).
- Complete Copy of relevant conveyance with evidence that the appropriate amount of stamp duty has been paid.
- A copy of the receipt showing payment of fee to the Public Treasury must accompany the completed Form 1 application for Certificate of Registration.
**NB. Current means dated within six months of submission to the Investments Board.
The Certificate of Registration is prepared within 30 days from submission of all documents.
There are no deadlines for this service.
The Applicant must pay an application fee of BS$250.00, this can be paid at the Public Treasury. If accessing this service from a Family Island, the requisite fee may be paid at the Public Treasury offices on Grand Bahama or Abaco.
Bahamas Investment Authority as Administrative Arm of the Investments Board
4th Floor Cecil Wallace-Whitfield Centre
P. O. Box CB-10980
Tel. (242) 327-5826-9
Fax. (242) 327-5806
2nd Floor Sir Cecil Wallace Whitfield Centre
West Bay Street
P.O. Box CB-10990
Nassau, N.P., The Bahamas
Phone: (242) 327-5826-8, (242) 702-5500-3
Fax: (242) 327-5806
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