Persons, including Bahamians and Non-Bahamians, who are interested in constructing a new building, effecting any improvement in or repairs or alterations to an existing building or use or change the use of an existing building, for the purpose of such building being used in the operation of a time-sharing project must apply to the Bahamas Investment Authority (BIA) for a licence for time-sharing project.

Persons, both Bahamians and Non-Bahamians.

1. An individual seeking to invest in a Time-Sharing Project should complete and submit a Form B Application, along with supporting documents.

2. An applicant must pay the fee when the application is submitted and subsequently, at the time of renewal in respect of the Management Agent Licence fee.  Cheques are made payable to the Public Treasury.
3. The BIA will process the application to ensure that the following requirements are met:
   1. The applicant and the person responsible for the time-sharing project (if other than the applicant), the developing owner, the marketing agent and the managing agent are financially able and are fit and proper persons to perform their respective functions under the time-sharing project.
   2. That the facilities of the time-sharing project have, where practicable, been inspected pursuant to section 11 and that the project complies with the prescribed requirements or, in the event that it fails to comply, that an exemption may properly be granted.
   3. That the time-sharing project makes provision for the accommodation:
      1. In New Providence, of not less than fifty units.
      2. In Family Island, of not less than twenty five units.
   4. That the applicant has complied with all requirements prescribed by The Bahamas Vacation Plan and Time-Sharing Act.
   5. That the applicant is not in breach of any other law relating to the carrying on of business by him in The Bahamas and which business is in the best interest of The Bahamas.
4. Once a determination has been made The BIA notifies the applicant or its agent in writing.

 

Form B Application for Developing Owner’s/Marketing Agent’s/Managing Agent’s Licence pursuant to The Bahamas Vacation Plan and Time-Sharing Act, 1999.

 

 

 

No additional documents are needed.

A determination is communicated within 60 days following the submission of all of the required documents. The Time Share Project licence is required to be renewed annually. Accordingly, the renewal application must be submitted prior to expiration of the existing licence.

Developing Owner Licence Fee

Where a project consists of:

(a) not more than 10 units	BS$1,000.00
(b) more than 10 but not more than 20 units	BS$2,000.00
(c) more than 20 but not more than 50 units	BS$3,000.00
(d) more than 50 units	BS$5,000.00

 

Marketing Agent Licence Fee

Where a project consists of:

(a) not more than 10 units	BS$500.00
(b) more than 10 but not more than 20 units	BS$1,000.00
(c) more than 20 but not more than 50 units	BS$1,500.00
(d) more than 50 units	BS$2,500.00

 

Managing Agents Licence Fee

Where a project consists of:

(a) not more than 10 units	BS$25.00 per annum
(b) more than 10 but not more than 20 units	BS$50.00 per annum
(c) more than 20 but not more than 50 units	BS$75.00 per annum
(d) more than 50 units	BS$100.00 per annum

 

 

 

Bahamas Investment Authority as Administrative Arm of the Investments Board

4th Floor Cecil Wallace-Whitfield Centre
Cable Beach
P. O. Box CB-10980
Nassau
New Providence
The Bahamas
Tel. (242) 327-5826-9
Fax. (242) 327-5806
Email: bia@bahamas.gov.bs