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Ingraham Modifies Foreign Investment Restrictions, Residency Requirements

Restrictions preventing foreign investment in restaurants and entertainment facilities have been lifted by Bahamian Prime Minister Hubert Ingraham, who also announced a new minimum dollar requirement for foreign direct investment. The prime minister attributed the changes to a series of developments over the past several years. The changes also include the provision that persons who purchase homes in the Bahamas in order to obtain accelerated consideration for permanent residency must pay at least $1.5 million for their homes. [Nassau Tribune]

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