700 Islands of Crystal Waters, No Income Tax & Endless Summer
Yes. There is no personal income tax, no capital gains tax and no inheritance tax on Bahamian residents. Government revenue comes from VAT, customs duties, property tax, stamp duty and licence fees instead.
Most companies pay no corporate income tax. However, since 2024 The Bahamas applies a 15% Domestic Minimum Top-up Tax to very large multinational groups with global revenues of €750 million or more, in line with the OECD's global minimum tax rules.
The standard VAT rate is 10%. A reduced 5% rate applies to a range of essentials such as many medicines and hygiene products, and some supplies are zero-rated.
For an owner-occupied home, the first B$300,000 of assessed value is exempt, the next band to B$500,000 is taxed at 0.625%, and value above B$500,000 at 1%, capped at B$150,000 a year. Pay by 31 March for a 10% discount.
Not automatically. It depends on your citizenship and your home country's rules. US citizens remain fully liable to US tax. Take professional cross-border advice before assuming any saving.
Public hospitals and clinics charge subsidised fees, and National Health Insurance covers a defined package of primary-care services for eligible residents. But comprehensive and specialist care usually means private facilities or treatment abroad, which is why most residents hold private insurance.
Princess Margaret Hospital in Nassau is the main public tertiary hospital, and Doctors Hospital is the leading private option. Grand Bahama is served by the Rand Memorial Hospital. Complex cases are often referred to Florida.
It is strongly recommended. Serious or specialist cases are frequently transferred to Florida, and treatment there is expensive. A policy with US coverage and medical-evacuation cover is important, especially if you live on a Family Island.
Yes. The Bahamian dollar is pegged 1:1 to the US dollar and the two circulate interchangeably. You can pay in US dollars almost everywhere, though your change may come back in Bahamian dollars.
Yes. Because nearly everything is imported and carries customs duty plus VAT, groceries, fuel and electricity are noticeably more expensive than the US mainland. The absence of income tax offsets part of this.
The Atlantic hurricane season runs June to November and can bring serious storms, as Hurricane Dorian showed in 2019. Take warnings seriously, insure your home, and keep an emergency plan and supplies.
The Family Islands and resort areas are generally very safe. Nassau has some higher-crime districts to avoid, especially at night. Standard urban precautions are sufficient for most residents.
English is the official language and is spoken universally, alongside an expressive local Bahamian dialect. English-speaking newcomers have no language barrier.