Bahamas, Commonwealth of, is an island group, and the northernmost of the West Indies. Capital, Nassau; area about 14 000 sq km (5400 sq miles). The smaller islands (cays) are uninhabited. The Bahamas, which are mainly formed of coral, are a popular holiday resort, with a mild winter climate.
They were a British colony from the 17th century until 1973, when they became independent. The people are mainly of African descent but some are of mainly British origin. The islands produce fruit and tomatoes for export, timber from the pinewoods, and fish.
In this cluster of islands in the Atlantic Ocean, where tranquility and privacy are ubiquitous, a lifestyle rich in modern conveniences is increasingly drawing the world’s billionaires. Oceanfront mansions, superyachts and multi-million-dollar golf deals in tow.
Beyond big American and international names, the Bahamas is also home to a burgeoning arts and culture scene, world-class resorts and restaurants helmed by Michelin-acclaimed chefs. Together, these elements are redefining the island’s appeal to the ultra-wealthy.
The Bahamas is now home to the world’s third fastest-growing luxury housing market, with average prices rising 15% in 2024. Oceanfront estates are commanding record-breaking prices, and investment is pouring in.
Upscale wellness centers like Champion Spirit Country Club, which bills itself as a 360-degree wellness resort, and the Aspara Social Club are catering to the growing billionaire crowd with saunas, padel courts and cryotherapy chambers.
The contemporary art scene is also experiencing a boom. The Tern Gallery, which showcases local Bahamian and Caribbean contemporary artists, has gained international attention—so much so that one of its artists was recently featured at New York’s prestigious Armory Show.
The Bahamas’ attractive tax regime is a major draw. With no income, capital gains or inheritance taxes, the financial benefits for the ultra-wealthy are clear. For those investing at least $750,000 in real estate, the government sweetens the deal with permanent residency, along with its own unique tax advantages.
Accessibility is another key selling point. A mere 30-minute flight will take you from the tourists in South Beach to the swimming pigs in secluded pink-sand beaches. For global jet-setters, a new direct 8-hour flight to London Heathrow adds even more convenience. And when it comes to busy high-net-worth individuals and entrepreneurs, time is the number-one currency.
Content for this question contributed by Robyn Cushard, resident of Erlanger, Kenton County, Kentucky, USA
