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Bahamas – Property Financing

Mortgages for Foreign Nationals in the Bahamas

For foreign nationals interested in buying property in the Bahamas, securing a mortgage is a common route to property ownership. In this article, we will explore the process of obtaining a mortgage as a foreign national in the Bahamas, the local lenders that offer mortgage services, the required deposit, and the responsibilities of new property owners concerning outstanding debts.

Local Lenders Providing Mortgages

the Bahamas has a well-established banking sector with several local financial institutions offering mortgage services to both residents and foreign nationals. When seeking a mortgage in the Bahamas, it’s essential to consider various local lenders to find the most suitable terms and conditions. Some of the prominent local lenders that provide mortgages in the Bahamas include:

  • CIBC FirstCaribbean International Bank: CIBC FirstCaribbean is a leading bank in the Bahamas, offering mortgage solutions to both residents and non-residents.
  • RBC Royal Bank: RBC Royal Bank operates in the Bahamas and provides mortgage options to foreign nationals interested in purchasing property.
  • Scotiabank Bahamas: Scotiabank is a well-known international bank with a presence in the Bahamas, offering mortgage services to non-residents.

It is advisable to contact these lenders directly or visit their websites to explore their mortgage products, understand eligibility criteria, and initiate the mortgage application process.

Required Deposit When Buying Property

The deposit required when buying property in the Bahamas can vary depending on factors such as the property’s purchase price and the lender’s policies. Typically, foreign nationals are expected to provide a deposit of around 30% to 40% of the property’s purchase price. However, the specific deposit amount may differ among lenders, and some may request a higher or lower percentage.

Foreign buyers should be prepared to provide the necessary funds for the deposit, taking into account the property’s price and any additional costs associated with the purchase, including legal fees, stamp duty, and property taxes. It’s essential to discuss the deposit requirements with the chosen lender and ensure that you have the required funds available when entering into a property transaction in the Bahamas.

Responsibility for Outstanding Debts

When purchasing property in the Bahamas, new property owners are generally not responsible for any outstanding debts or financial obligations related to the property. However, it is crucial to conduct proper due diligence to ensure a clean and debt-free property transaction.


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One essential step in the property purchase process is obtaining a title search or land register extract, which provides information about the property’s ownership, any encumbrances, and any outstanding debts, such as mortgages or liens. This search helps confirm that the property is free from any financial obligations that could affect the buyer.

Additionally, working with a qualified real estate agent and seeking legal advice from a local attorney or notary can provide valuable guidance in navigating the property purchase process. The sales contract should include provisions that protect the buyer’s interests and specify the responsibilities of both parties regarding outstanding debts or financial obligations related to the property.

In summary, foreign nationals can obtain mortgages in the Bahamas, with several local lenders offering mortgage services. Prominent lenders include CIBC FirstCaribbean International Bank, RBC Royal Bank, and Scotiabank Bahamas. The required deposit when buying property in the Bahamas typically ranges from 30% to 40% of the property’s purchase price, although this may vary among lenders. New property owners in the Bahamas are generally not responsible for the previous owner’s outstanding debts on the property, but conducting due diligence and seeking professional guidance is crucial to ensure a smooth and debt-free property transaction.


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