Relocation Info

The Political History of the Bahamas

The Bahamas declared independence from Great Britain on July 10, 1973, a new constitution became the supreme law of the land for the Commonwealth of The Bahamas. The Constitution proclaims the islands as a sovereign democratic state. The British monarch as its head of state. The Queen is represented in The Bahamas by a Governor General who is appointed and serves at Her Majesty’s pleasure.

Stamp Duty

The government stamp duty on property conveyance or realty transfers is between 4% to a maximum of 10%
The lawyer who prepares the conveyance typically charges a fee of 2.5% of the sale price or a minimum fee (whichever is greater) It is usual in the Bahamas for the Lawyer to act for both parties.

Healthcare Facilities & Hospitals

  • The Rand Memorial Hospital
  • Bahamas Institute of Plastic Surgery
  • ITL Cancer Clinic
  • The New Sunrise Medical Center

Various Doctors, Dentists & Chiropractors are available throughout the islands.

Banking

On Grand Bahama Island, banks are open from 9:30 a.m. to 3:00 p.m., Monday through Thursday, and 9:30 a.m. to 5:00 p.m. on Friday. ATM’s are available and accept Visa, Mastercard & American Express. Bank & credit cards on the Cirrus, Honor, Novas or Plus networks.

Currency

The legal tender is the Bahamian dollar (B$1), which is equivalent in value to the US dollar. Both US and Bahamian dollars are accepted interchangeably throughout the Islands. The exchange control is administered by The Central Bank of The Bahamas. It is relatively easy to open up a bank account.

Education

  • Schools
  • Nursery
  • Pre-school

There are also many local, private and Catholic schools in the Bahamas.