March 2025 | By Shonté Beneby

ECONOMIC PERMANENT RESIDENCY IN THE BAHAMAS: WHAT TO KNOW

What is Economic Permanent Residency (EPR)?

An EPR grants foreign nationals the right to reside permanently in The Bahamas. Foreign nationals who purchase real estate in The Bahamas with a minimum value of $1,000,000 are eligible to apply for EPR. This status is typically granted subject to the condition that the EPR holder will not be permitted to work in The Bahamas.
If granted, EPR remains in force for the lifetime of the EPR holder unless it is revoked subject to the following requirements:

• the EPR holder must maintain ownership of the residence for a minimum of 10 years; and
• the EPR holder must file a declaration every 10 years confirming that in all material aspects, there has been no change in the EPR holder’s information since the application for EPR was filed.

Requirements to Apply

Prior to submission of the application, the purchase of the residence must be completed as proof of ownership is required. If the residence is being constructed, proof that construction has been completed is required before the applicant will be eligible to apply.
To be eligible, the applicant must satisfy the following requirements:

• must be not less than 18 years of age
• must be a person of good character
• must express an intention to reside permanently in The Bahamas for a cumulative period of not less than 90 days per year.

The applicant will be subject to a thorough vetting process by the Department of Immigration. Typically, the application takes a minimum of 6 months – 18 months to process and the applicant will be required to visit the Department of Immigration for an interview, which is usually scheduled within 2-3 months after the application is submitted.

If granted, the government fee is $20,000.00 and an additional fee of $300.00 per person for the endorsement of the EPR holder’s wife and any dependents.

Endorsement of Wife and Dependents

The EPR holder’s wife and/or any dependent child (under the age of 18) may be endorsed on the residency certificate.
An endorsement in favour of a dependent will be valid until he/she ceases to be a dependent.
Upon the death of the EPR holder, an endorsement in favour of a surviving spouse and any dependents will remain valid subject to the determination of an application for their legal status within 3 months of the EPR holder’s death.
If the EPR holder is a woman, she is not currently permitted under Bahamian law to apply for her husband to be endorsed on the residency certificate.

Right to Work

The purchase of a residence is not typically sufficient to enable a person to be eligible for the right to work in The Bahamas. However, work status may be granted for other forms of economic or qualifying investments for a foreign national who wishes to engage in a business venture in The Bahamas.

For further information please contact Shonté Beneby at Lennox Paton by telephone at 242-502-5000 or by email at sbeneby@lennoxpaton.com.