Global Law Experts top search results to help tackle law in Bahamas

The Bahamas follows a common law legal system influenced by English law, featuring a hierarchy of courts headed by the Supreme Court and Court of Appeal. Laws are created through legislation passed by Parliament and judicial decisions. The system protects individual rights through constitutional law, and criminal and civil cases are handled separately. This structure balances fairness and efficiency, ensuring justice is administered under Bahamian statutes and legal principles.

Non-Bahamians must obtain an Acquisition Permit from the Minister of Finance before purchasing property. This permit ensures compliance with government regulations regarding foreign ownership. Buyers submit detailed applications, including identification and purchase terms. The process seeks to promote responsible property investments and protect national interests, making legal guidance essential to navigate the permit procedure smoothly.

Incorporating a business requires registering with the Registrar General’s Department. The process involves submitting articles of incorporation, appointing directors and company officers, and meeting share capital requirements. Depending on the business type, additional licenses or permits may be needed. Legal counsel is valuable to ensure all statutory obligations under Bahamian corporate law are fully satisfied.

The Bahamas offers various residency permits, including short-term stay permits, long-term residential permits for retirees or investors, and work permits for foreign employees. Each type has specific criteria, such as investment thresholds or employment contracts. Understanding the qualifications and application steps is crucial, and professional legal assistance helps applicants fulfill requirements effectively.

In The Bahamas, real estate transactions for non-Bahamians generally require payment of stamp duty, usually set at 2.5% of the purchase price. Additional costs include fees for obtaining an Acquisition Permit and property registration. Legal fees and real estate agent commissions also impact the total expense. Understanding these charges is crucial for budgeting and ensuring full compliance with Bahamian property laws throughout the purchase process.