Rank #6
Bahamas
Caribbean • UTC-4 • America/NassauMonthly Cost
$2,980
+36% vs USA
Internet
143 Mbps
Fixed Broadband Avg
Monthly Cost
$2,980
+36% vs USA
Internet
143 Mbps
Fixed Broadband Avg
Annual Residency Permit
Allows individuals to reside in the Bahamas for up to one year, renewable annually.
Min. Income
$2,000/month
Per Applicant
Processing
1–2 Months
Average Time
Validity
1 Year
Renewable
Citizenship
10 Years
Years to Apply
Eligibility & Required Docs
Eligibility Requirements
Proof of sufficient income- Clean criminal record
- Health insurance coverage
Required Documents
- Income statements
- Police clearance certificate
- Health insurance policy
Residency Rules
Taxation
Residents do not pay personal income tax. The Bahamas relies on VAT and other indirect taxes.
Physical Presence
No specific physical presence requirement, but maintaining ties to the Bahamas is recommended.
Advantages
- Flexible residency option
- No personal income tax
- Easy renewal process
Disadvantages
- Annual renewal required
- No direct path to permanent residency
- Limited work opportunities
Compare with
Cayman IslandsResidency Certificate
BermudaWork Permit
BarbadosWelcome Stamp