Bahamas Citizenship By Investment 2022: All You Need To Know

Additionally, at the time of the first application or a later date, an applicant's wife and dependent children under the age of eighteen (18) years who typically reside in his home may be endorsed on the applicant's permanent residence. The endorsements of the Economic Permanent Resident's wife and dependent children are not automatically disqualified when he dies. The surviving spouse and dependent children, on the other hand, must apply for legal status within three (3) months of the Economic Permanent Resident's death.

Once the minor reaches the age of eighteen (18), the dependent child's endorsement expires, and they must apply on their behalf to keep their residency status.

When you gain citizenship in the Bahamas through investment, it gives you access to:

1. Visa-free travel or visa on arrival to about 120 countries and territories, including Canada, Hong Kong, Singapore, and many more!
2. No personal income tax!
3. The tropical weather all year round.
4. White sand beaches.
5. Low crime rate.
6. High standard of living.
7. Good healthcare system.
8. An attractive residency option for your family with no schooling or residency requirements

Applicants must demonstrate sufficient assets and income to sustain themselves and their families without working in the Bahamas. You will be entitled to become a citizen after ten years of permanent residency or seven years if married to a Bahamian citizen. The permanent resident has lived in The Bahamas for at least six years.

The Bahamas Extended Access Travel Stay (BEATS) program, launched in 2020, is a short-term residence visa for remote workers. The pass grants participants a 12-month residency permit to work or study remotely on any of the country's 16 main islands. Applicants must provide proof of self-employment or submit a letter from their company or an approved university and confirm that they will support themselves financially while in the Bahamas.

Bahamas Citizenship By Investment Application Process

The application process for Bahamas citizenship by investment includes the following steps:

Step 1. Application Submission

Step 2. Due Diligence Process

Step 3. Application Approval & Issuance of Authorization Letter

Step 4. Payment of Fees & Investment

Step 5. Issuance of Certificate of Naturalization & Passport

The successful applicant receives an Economic Permanent Resident certificate and an electronic travel card following acceptance. Every ten (10) years, the electronic card is renewed. The applicant must pay a one-time price of $15,000 for permanent residence and $100 for each endorsement.

An interview with an Immigration Department official is required as part of the application procedure for Economic Permanent Residence. These interviews were formerly conducted in person, but because of the Covid-19 pandemic's limitations, they are now conducted through telephone and video conference. According to the Immigration (Amendment) Act of 2021, the government is currently working on expediting the application process to have applications completed within three (3) months after filing, subject to all requisite evidence.