🇧🇸 Bahamas

The Bahamas allows citizens of many countries, including the US, UK, EU, and Canada, to enter visa-free for stays of up to 90 days per visit. Longer-term residence requires an Annual or Permanent Residence Permit, applied for through the Department of Immigration. The Bahamas has no income tax, making it a popular destination for high-net-worth expatriates and retirees.

Non-Bahamian nationals wishing to work in the country must obtain a Work Permit from the Department of Immigration, sponsored by a Bahamian employer who must demonstrate that no qualified Bahamian is available for the role. Work permits are typically issued for one year and are renewable, though fees can be substantial depending on the employment category. Spouses of Bahamian citizens may apply for spousal permission to work.

Dependents of residence permit holders may apply for dependent permits through the Department of Immigration. Spouses and children of Bahamian citizens or permanent residents can apply for residence status, and qualifying family members of Annual Residence Permit holders are generally eligible to accompany the primary permit holder.

The Bahamas has no personal income tax, capital gains tax, or inheritance tax, making it one of the world's most favorable tax environments for high-net-worth residents. Government revenue is derived primarily from VAT at 10% and import duties. There is no corporate income tax on offshore entities, and the country has signed Tax Information Exchange Agreements (TIEAs) with numerous countries.