The Bahamas has become a key destination for billionaires, offering privacy, modern conveniences, and financial advantages. The island nation, located in the Atlantic Ocean, attracts the ultra-wealthy with oceanfront properties, luxury resorts, and investment opportunities.
Ryan Knowles, founder of MAISON Bahamas, highlights the ease of living in the Bahamas. “There’s a perception that moving to an island is going to be complicated,” he says. “We have Starbucks. We have Nobu.” The recent introduction of free Amazon delivery on orders over $49 adds to the appeal.
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Luxury living and investment opportunities
The Bahamas is experiencing a surge in luxury real estate, with the market growing by 15% in 2024. Oceanfront estates are setting record prices. One of the country’s most prominent luxury developments, Baha Mar, contributes 12% to the national GDP. Plans are underway to expand the resort with a 350-room hotel and residential project designed by Foster + Partners. The expansion will include a jazz club, two art galleries, and an annual Culinary & Arts Festival.
Beyond resorts, Lyford Cay in New Providence is one of the most exclusive gated communities. It features a 61-slip marina, an 18-hole golf course, a private sailing club, six restaurants, and a school. Among its high-value properties is Beluga, a 2-acre oceanfront estate listed for $50 million. The property offers 10,660 square feet of modern living space, an outdoor deck, a swimming pool, and direct beach access. Membership to the Lyford Cay Club, known for hosting CEOs, industry leaders, and celebrities, is by invitation only and takes up to two years for approval.
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Tax benefits and accessibility
The Bahamas attracts high-net-worth individuals due to its favourable tax policies. There are no income, capital gains, or inheritance taxes. Investors who spend at least $750,000 on real estate are eligible for permanent residency. These financial benefits make the Bahamas a preferred location for the ultra-wealthy.
Accessibility is another factor. The islands are a 30-minute flight from Miami, with direct flights available to major global destinations, including an 8-hour flight to London Heathrow. Knowles emphasises the importance of connectivity, stating, “Time is the number-one currency.”
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Growing cultural and wellness offerings
The Bahamas is also expanding its cultural and wellness offerings. The contemporary art scene is gaining international attention, with the Tern Gallery featuring Bahamian and Caribbean artists. One of its artists was recently showcased at the Armory Show in New York.
Wellness centres such as Champion Spirit Country Club and Aspara Social Club cater to high-net-worth individuals, offering saunas, padel courts, and cryotherapy chambers. These establishments provide exclusive health and wellness experiences for residents and visitors.
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