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November
16

Work From Home in the Bahamas - Morley Realty

Our agents know that the beauty of the Bahamas is becoming attractive to more Americans who no longer need to worry about commuting to work. Working remotely saves the average person thousands of dollars each year to reinvest for a better life.

Many remote workers now have the opportunity to become fully location-independent. Freed from the shackles of an office, they can do whatever they do from a world away. It's no surprise that the blue skies and sun-drenched beaches of the Bahamas are getting more attention.

Nassau and Paradise Island homes for sale are getting a closer look. However, not everyone realizes that a home in the Caribbean really is attainable. They worry that they will not be able to buy property in the Caribbean or that it will be a very different process than they're used to.

Luckily, it can be a lot easier than it may look at first.

If you want to remain in the Bahamas long-term, you have two options:

  • Buy a Home in the Bahamas
    Not all countries allow foreign property owners to settle long-term. In fact, there are some countries where it is impossible to buy property at all. The Bahamas is highly welcoming in this regard. Issued by the Department of Immigration, a Certificate of Permanent Residence is a legal document giving an individual the right to reside and/or work in the Bahamas for the duration of his or her life. Eligibility is based on a variety of factors, including owning property.

  • Get a Remote Work Visa in the Bahamas
    Many countries have opened up a special visa program for remote workers. In general, remote workers must make a certain amount of compensation to be eligible and can remain for a defined period of time with the potential for extensions. In the Bahamas, you may qualify to work from any of the country's beautiful islands in exchange for a $1,000 application fee with five days' processing time.

More About Bahamas' BEATS Program

The Bahamas Extended Access Travel Stay (BEATS) permit offers you opportunities to fully experience the Bahamas for a period of time before deciding if you wish to remain long-term. The initial application provides a year of residency, and it may be extended for up to three years.

Both remote work and remote study are acceptable for the BEATS permit.

Remote workers must submit a letter from their current employer or proof of self-employment. There are no set income requirements for the program if you are employed. Students, on the other hand, must demonstrate financial means to support themselves. All applicants must purchase health insurance.

The BEATS permit is a tempting proposition for many remote workers. The process is straightforward and taxes and other obligations are easy to understand. Thousands of people have made use of BEATS and many of them decide they wish to remain in the Bahamas for years – or even for life.

Ready to Buy a Home in the Bahamas?

If you're looking to buy a home in the Bahamas, it's important to choose a real estate agent you trust.

Individuals who purchase properties of $1 million or more get expedited consideration for permanent residency, and there are plenty of properties that fit the bill. However, you don't have to go nearly that far. Annual residency adds more paperwork, but it is available with a property of $250,000.

While the general process of buying a home is not that different from the United States, there are other considerations to be aware of. Plus, the availability of funding might differ from what you're used to.

Contact us for personalized advice on starting a new life in the Bahamas.

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