Nassau: what to see and whether to move there

What the city lives on and who it suits

Nassau is the capital of the Bahamas on the island of New Providence. About 300,000 people live here, nearly three quarters of the country's population. The economy rests on tourism and financial services: cruise ships call at the harbour every day, and the city hosts banks, trust and insurance companies. The Bahamian dollar is pegged one to one to the US dollar, and both circulate side by side. The city suits wealthy people who value zero income tax, English and a one-hour flight to Miami, as well as high-earning remote workers.

Districts and housing

• Downtown and the harbour - government buildings, the port and shops; busy in the daytime with cruise passengers.
• Cable Beach - a strip of hotels, condominiums and restaurants on the north shore west of downtown.
• Paradise Island - a resort island with a casino and expensive apartments, linked to the city by bridges.
• Western New Providence - gated communities with security, yacht marinas and golf courses where wealthy foreigners live.
• The east of the island - older residential areas and waterfront villas.

A foreigner can buy a home on up to 5 acres without a permit, only registering the purchase with the Investments Board. How a purchase works is on the page property in the Bahamas.

Cost of living

• Rent - a one-bedroom flat downtown costs about $1,000 a month; by the sea and in gated communities it is several times more.
• Groceries - mostly shipped from the US, so pricier than in America, plus 10% value added tax.
• Costs excluding rent - about $1,300 a month for one person and about $4,600 for a family of four.
• Electricity - expensive, and air conditioning is needed most of the year.
• Cars - import duties are high, so cars cost more than in the US.

Taxes

The Bahamas has no income tax, capital gains tax, inheritance or gift tax. The state lives on 10% value added tax, import duties and fees. Property owners pay an annual real property tax on a scale, and a home purchase carries a transaction tax of 2.5% to 10% depending on the price, usually split between buyer and seller. Having no tax in the Bahamas does not by itself free you from tax at home: the move has to be structured so that your previous country stops treating you as its tax resident. We plan this together with the choice of status.

Entry and legal status

• Visits - citizens of many countries enter visa-free; others arrange a visa in advance.
• Remote work - the extended access permit for 12 months, renewable up to 3 years: a $25 application fee per person, $1,000 for the main applicant's permit and $500 for each dependant. Details are on the page Bahamas digital nomad visa.
• Employment - the employer obtains the permit after showing that no suitable Bahamian is available for the job.
• Annual residence permit - for homeowners and people with proven income, renewed every year.
• Permanent residence by investment - since 1 January 2025 from 1 million Bahamian dollars, about $1,000,000, in property or Central Bank bonds; the threshold used to be $750,000.

Practicalities: climate, language, transport

• Climate. Warm all year: about +22 to +26 in winter and up to +32 and humid in summer. Hurricane season runs from June to November, so homes have hurricane shutters and property insurance covers hurricane risk.
• Language. English.
• Transport. Public transport means jitney buses; a car is more convenient, and traffic drives on the left.
• Flights. The international airport is 15 minutes from Cable Beach, Miami is about an hour away, and there are direct flights to New York, Toronto and London.
• Safety. Tourist areas are calm, but some neighbourhoods downtown and in the south of the island have high street crime.

Work and business

• Tourism - the largest employer: hotels, resorts and the cruise port.
• Finance - banks, asset management, trusts and insurance; Bahamians get priority in hiring.
• Your own business - some sectors are reserved for citizens, and in the rest a foreigner needs Investments Board approval.
• Accounts - banks vet new clients and the source of funds strictly. We help open one on the page personal account in the Bahamas.

Family and healthcare

• Schools - private schools with British and American curricula; places at the best ones are booked early.
• Healthcare - Nassau's public hospital and private clinic handle routine cases, complex ones fly to Miami, so insurance with evacuation is needed.
• Leisure - beaches, yachting, diving and fishing; the Out Islands such as Exuma and Eleuthera are an hour away by plane or ferry.

First steps after the move

1. Choose a status: the remote work permit, an annual residence permit or permanent residence through a purchase.
2. Rent a home for the first months and do not rush to buy.
3. Open a local bank account and take out health insurance with evacuation.
4. Set up your tax residency so you do not remain resident in your previous country.

We handle every step end to end, from choosing the status to the property deal.

Is it worth living here

Pros: no income tax, English, a warm sea, proximity to the US and a currency pegged to the dollar. Cons: high prices for everything, hurricane season, limited healthcare and street crime in some areas. Nassau suits a wealthy family or a high-earning remote worker. Write in the chat and we will work out which status and budget are right for you.