International Persons Landholding (Amendment) Act, 2025 (No. 50 of 2025)

EXTRAORDINARY OFFICIAL GAZETTE THE BAHAMAS PUBLISHED BY AUTHORITY NASSAU 1st July, 2025 INTERNATIONAL PERSONS LANDHOLDING (AMENDMENT) ACT, 2025 Arrangement of Sections Section 1. Short title and commencement.............................................................................2 2. Insertion of new section 10B of the principal Act................................................2 3. Amendment of Schedule to the principal Act.......................................................3 INTERNATIONAL PERSONS LANDHOLDING (AMENDMENT) ACT, 2025 INTERNATIONAL PERSONS LANDHOLDING (AMENDMENT) ACT, 2025 AN ACT TO AMEND THE INTERNATIONAL PERSONS LANDHOLDING ACT Enacted by the Parliament of The Bahamas 1. Short title and commencement. (1) This Act, which amends the International Persons Landholding Act, (Ch. 140), may be ci ted as the International Persons Landholding (Amendment) Act, 2025. (2) This Act shall come into force on the 1st day of July, 2025. 2. Insertion of new section 10B of the principal Act. The principal Act is amended by the insertion, immediately after section 10A, of the following as a new section 10B — “10B. Extension of permit. (1) Notwithstanding section 10A, where the holder of a permit has not acquired the land or interest in land to which the permit relates within one hundred and eighty days of the grant of the permit by the Board, the permit shall be extended automatically for a further period of one hundred and eighty days if, not less than thirty days before the expiry date of the permit, the holder thereof — (a) completes and submits to the Secretary to the Board a Permit Extension Notice in the form in the Schedule; and Page - 2 No. 50 of 2025 [Date of Assent 27th June, 2025] Enacted by the Parliament of The Bahamas INTERNATIONAL PERSONS LANDHOLDING (AMENDMENT) ACT, 2025 (b) produces to the Secretary to the Board evidence that the appropriate fee specified in the Schedule has been paid to the Public Treasury. (2) Where the holder of a permit has complied with subsection (1), the permit shall be deemed to remain valid for a further period of one hundred and eighty days from the expiry date. (3) No permit may be extended under this section more than twice.”. 3. Amendment of Schedule to the principal Act. The Schedule to the principal Act is amended by — (a) the insertion, immediately after FORM 4, of the following FORM 5 — “FORM 5 Permit Extension Notice To: Secretary to the Board Investments Board P.O. Box CB-10980 Nassau, The Bahamas From: Full Name of Permit Holder ....................................................................................................................... ....................................................................................................................... Contact Information: .................................................................................... Residential/Registered Address of Applicant(s): ....................................................................................................................... ....................................................................................................................... Telephone: .................................................................................................... Email: ........................................................................................................... Address: ........................................................................................................ ....................................................................................................................... Page - 3 INTERNATIONAL PERSONS LANDHOLDING (AMENDMENT) ACT, 2025 Permit Number: ............................................................................. Date of Issue of Permit: ......................................................................................... Day Month Year Current Expiry Date: .......................................................................................... Day Month Year Declaration by Permit Holder I, the undersigned, being the holder of the above-referenced permit, hereby notify the Board of my intention to extend the validity of the permit for a further period of one hundred and eighty days pursuant to section 10B. I confirm that: ☐ A copy of the proof of payment of the prescribed extension fee to the Public Treasury is attached. ☐ This Notice has been submitted prior to the expiry date of the current permit. Signature of Permit Holder: ..................................................................... ...................................................................... Day Month Year For Official Use Only New Expiry Date (after extension): . ....................................................................... Day Month Year Secretary to the Board Investments Board ........................................................................................... ”. Day Month Year Page - 4