Tax on property income in Bahamas

INDIVIDUAL TAXATION

The Bahamas lacks any form of taxation on income, sales, estates or inheritances. The only direct tax is a real property tax.

RENTAL INCOME

Bahamas beachfront realestate

There is no rental income tax in the Bahamas.

CAPITAL GAINS
There are no capital gains taxes in the Bahamas.

Business License

Business licenses are required when leasing property in the Bahamas. Renewed annually, license fees may cost anywhere from US$250 to US$1,250 or even more as the applicable rates depend on the profits.


PROPERTY TAX


Real Property Tax

Real property taxes are imposed on the assessed market value of the property. The tax rates vary depending on the property´s classification and value.

TAX ON OWNER-OCCUPIED PROPERTIES

TAX BASE, US$ TAX RATE
Up to US$250,000 0%
US$250,000 - US$500,000 0.625% on band over US$250,000
Over US$500,000 1% on all value over US$500,000, max $50,000
Source: Global Property Guide