An Act to repeal the Immovable Property (Acquisition by Foreign Persons) Act, Chapter 125 and to facilitate the holding of land by non-bahamians and by companies under their control.
This Act provides rules relative to the holding of title and other rights in land by persons other than a permanent resident or other than persons acquiring land or an interest in land under a devise or by inheritance (“Non-Bahamian”) and makes provision for control by the State on the holding of title in land in the Bahamas by foreigners. Acquisition of land, other than by non-Bahamians, shall be registered with the Secretary of the Investments Board, which is established under this Act.