Bahamas - Apply for Stamp Duty Exemption by First Time Homeowners

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Procedure

'Apply In-Person

1. The applicant has to submit an application in form to the  Stamp Exemption Section of the Treasury Department.
2. The Applicant can download the Form from the following Form Link.
3. Complete the application form with all details.
4. After filling in all the details, submit the application form along with the supporting documents as mentioned in the “Required Documents” section to the Stamp Exemption Section of the Treasury Department along with the corresponding Fee.
5. On completion of the above process, the applicant will be contacted by the treasury department to update on the status of application.
   

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Required Documents

• Application form
• Letter of application
• A recent appraisal report for your home
• Copy of your National Insurance Card and relevant pages of passport
• Copy of the first, signature and backing pages of Conveyance and/or Mortgage Instruments
• Proof of legal status to reside in the country if non-Bahamian
• Any other document and/or information that may be requested by the Stamp Exemption Unit
• Copy of sales agreement
  

Office Locations & Contacts

Stamp Exemption Unit
Treasury Department
3rd Floor,
Treasury Building
Cor. East Street & North Place
P.O. Box N-7524
Nassau
New Providence
The Bahamas
Tel. (242) 302-0595-6

Fax. (242) 322-4530
Opening hours: 9:00 am to 4:00pm, Monday to Friday.
Contact Address Details Contact Link

Eligibility

Must be a first time home owner.

Fees

No processing fee for this service.

Validity

The Stamp Duty Exemption Act expires on June 30th 2013, so all requests for exemptions must be made before this date.

Documents to Use

Application Form Link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

It is processed within six weeks.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

Please provide other instructions related to the certificate/documents.
e.g. The state office holds birth records since january 1908.

Required Information

• Name of Applicant
• Date & Place of Birth
• Address
• Name of Subdivision
• P.O.BOX No
• Telephone No
• Passport No
• Country of Citizenship
• National Ins. No
• Location or proposed location of first dwelling home:
  • Lot No.
  • Block No.
  • Unit No.
  • Street
  • Subdivision
  • Settlement
  • District
  • Island
• Type of dwelling home or proposed dwelling home:
  • Single family
  • Duplex
  • Condominium Unit Property Tax Assessment No.
• Current Value of Land/Building and Total Value of Home
• Application in respect of Stamp Duty Exemption relative to
• The Consideration amount(s) of the instrument (s) is are as follows:
  • Conveyance Amount
  • Mortgage Amount
    

Need for the Document

It is required to apply for stamp duty exemption for first time homeowners.

Information which might help

Link

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Place some external links which might help.

Others

More information which might help people.