What costs are involved in buying a property in The Bahamas?

Prices at Kamalame Cay are listed on a gross basis. Upon closing, the Purchaser pays ½ of the government stamp duty (5%) and their own legal fee, which is typically 2.5%.

What is the annual property tax?

Annual real property tax is a government tax on all real property in the Bahamas and is based on the assessed value of the property on a sliding scale with the first $250,000 (owner occupied) being exempt, the next $250,000 is ¾ of 1% and 1% on any balance.

Can a foreigner buy property in the Bahamas?

Yes, non-Bahamians who do not already own property in the Bahamas and who are buying less than two acres (vacant land or improved property) for single-family use need only to register their investment with the government. Homeowners may apply to the Immigration Director for an annual homeowner's residency card. A second purchase by a non-Bahamian will require a permit.

Can I apply to establish permanent residency in The Bahamas?

Yes, under Bahamian law, non-Bahamians are able to establish residency in the Bahamas. With a purchase of at least $1,500,000, a buyer may submit an application for accelerated consideration for permanent residency status. Residency in the Bahamas affords tax-free status with no income, capital gains or inheritance taxes.

What amenities are available to me as a Kamalame Cay homeowner and is there a membership?

Homeowners may take advantage of our Kamalame Cay Beach Club membership. Membership in the Cay includes access to the beach in front of the Great House, Pool, Tiki Bar, tennis courts, use of snorkeling gear, kayaks and other amenities. Membership also includes discounts on food and beverages.

Can I rent my Villa?

Yes, of course. The rental pool at Kamalame Cay is a great benefit to the owner as it allows you to cover costs normally associated with the general upkeep of a home and in many cases will generate a profit. An added bonus of including your property in the rental pool is ongoing maintenance and

Will Kamalame Cay offer villa and management services?

Yes, Kamalame Cay offers concierge services for owners who wish to place their properties in the hotel rental pool. We can assist with owner and guest needs. Our knowledgeable and amiable staff is delighted to help our residents and guests in any way possible.

How are the common areas maintained and managed?

Kamalame Cay has an Island Management Program with an annual maintenance fee to cover homeowner services with ease. These services include maintaining common areas, garbage removal, maintaining roads, golf carts, insect management and the general upkeep of island equipment (for example, R/O water maker, power supply etc).

What is the largest boat you can accommodate and what is your maximum draw?

The largest boat we can comfortably accommodate at Kamalame Cay is approximately 60ft. The maximum draw at low tide coming into the channel is 4ft and at the dock 8ft. The dock supplies a minimum of 50amp power and water.

How do I access utilitities on Kamalame Cay?

Kamalame Cay provides water and electrical services direct to each property. Fees for these services are charged annually.

How long will it take to build my custom home?

Depending on the style that you choose, your home will be completed and ready for occupancy within 8 to 24 months.

How can I get materials to Kamalame Cay?

Shipping to Kamalame Cay is easy. Morgan's Bluff in Andros is the most direct port of arrival from Fort Lauderdale with weekly scheduled trips. More urgent items can easily be delivered by plane when size allows. The Kamalame Cay team can make all of this happen seamlessly.

What are the medical emergency options?

Fresh Creek Clinic, which boasts a full staff of nurses, a board certified doctor and pharmacy, is only a short drive away. Air ambulances to Nassau and the United States are available 24 hours a day.

Are there any grocery stores nearby?

There are two grocery stores in Staniard Creek. Kamalame Cay will also stock your home for you with whatever you desire.

Can I obtain financing in the Bahamas for my purchase?

Yes, there are a few local banks that provide financing for foreign buyers on completed homes or construction packages. Local banks normally require around 30% as a down payment. We will recommend an appropriate bank to service your individual requirements.

Is Kamalame Cay a conscientious and sustainable destination?

Yes, absolutely. It is a leader in the hotel and residence sector in the use of photovoltaic power and solar water heating. They continue consistent beach regeneration and primary dune establishment as well as the removal of invasive species and planting of indigenous plants.

Who should I contact for legal and tax advice in the Bahamas?

The appointment of a local attorney is recommended during and following your closing. An attorney will ensure all title documents are prepared properly and will advise you on other matters.

Our recommendation: Dana or Chris Wells
Graham Thompson & Co.
242.322.4130; dcw@gtclaw.com; cjw@gtclaw.com