Video Briefing

Goodlife Investor: The Main Advantage of Bahamas Residency – Bahamas Vs. Dubai – Better Golden Visa

Nov 9, 2022Video Briefing27:01Watch on YouTube

South Florida’s ocean‑front market is increasingly being used as a launch point for owners who want easy access to Caribbean destinations such as the Bahamas and the Dominican Republic. Buyers are looking for properties that not only serve as a primary or secondary residence but also provide a private launch site for yachts, allowing a short‑haul crossing of roughly 100 nautical miles from Miami to Bimini.

The Bahamas residency‑by‑investment program

  • Investment threshold: Purchasing a property in the Bahamas valued at US $750,000 or more qualifies the buyer for permanent residency.
  • Residency benefits: The residency is maintained as long as the investment is retained, granting the holder the right to live in the Bahamas indefinitely.
  • Strategic advantage: With a Bahamas residence, owners can travel between their South Florida home and the islands without the usual visa or lengthy customs procedures that apply to many other international trips.

Vessel size and safety considerations for the Miami‑Bimini crossing

  • Typical vessel: Most repeat travelers use a 36‑foot (≈11 m) yacht or larger. Smaller boats can make the crossing, but they are more vulnerable to wave action and have less margin for error.
  • Safety steps:
    1. Accompany an experienced vessel on the first few trips to gain confidence.
    2. Consider hiring a captain or sailing with a crew familiar with the route.
    3. Ensure the yacht is well‑maintained and equipped with up‑to‑date safety gear.
    4. Plan for contingencies by traveling with a tandem vessel that can provide assistance if needed.

Property features that support yacht access

Feature Why it matters
Dock length & depth Must accommodate the draft and length of the intended vessel; a 36‑footer typically needs a dock with at least 12 ft of water depth at low tide.
Canal width Sufficient width is required for turning the yacht safely; the required width depends on the vessel’s beam and maneuverability.
Fixed‑bridge clearance Fixed bridges limit the maximum air draft of a boat. Low‑tide clearance should be checked to ensure the yacht can pass without timing restrictions.
Sea‑wall height Influences the ease of launching and retrieving the yacht, especially in areas with high tides or storm surge.

Properties lacking fixed bridges or with higher bridge clearances are priced higher because they offer unrestricted access for larger yachts and more flexible departure times.

Buying remotely – how it works

  • Virtual tours: Agents use Zoom, Google Meet, FaceTime, or WhatsApp to provide live walkthroughs of listings.
  • Documentation: Buyers receive electronic copies of property reports, market comps, and demographic data.
  • Title insurance: In the U.S., title insurance protects against most ownership disputes, streamlining the due‑diligence phase for remote purchasers.
  • Closing timeline:
    • Cash transactions: Typically close within 7–10 days.
    • Financed purchases: Standard closing takes about 30 days; aggressive timelines can achieve 14–15 days if the buyer supplies all required documentation promptly.

Agent expertise and market reach

  • Experience: The agent has been active in the Florida residential market since 2014, handling both entry‑level and luxury properties up to US $7 million.
  • Volume: Over the past two years, more than 100 transactions have closed, totaling roughly US $75 million in sales.
  • Geographic coverage: Listings span from Port St. Lucie (Indian River County) to Fort Lauderdale, with the ability to connect buyers to agents in other U.S. states and Canada.
  • International clientele: The brokerage routinely assists buyers from the Middle East, Europe, and other regions, facilitating fully remote purchases when needed.

Practical takeaways for prospective buyers

  • Define vessel requirements before selecting a property; the dock, canal, and bridge specifications must match the yacht’s dimensions.
  • Assess the residency program you wish to leverage (e.g., Bahamas) and ensure the property purchase meets the investment threshold.
  • Leverage remote‑viewing tools to expedite the buying process, especially in a fast‑moving market like South Florida.
  • Work with an agent who has a proven track record in both local and international transactions, as well as a network that can provide support across multiple jurisdictions.

By aligning property selection with yacht capabilities and residency goals, buyers can create a seamless “Plan B” lifestyle that blends a South Florida home base with easy access to Caribbean destinations.