[MCR_CA]

Hi Everyone!

I was wondering if anyone could give me a little information about expat life in the Bahamas.

I’m an accountant, 26, and was initially planning on a move to Grand Cayman, but it transpires there are some immediate opportunities available in the Bahamas (Nassau & Freeport).

The salary package the accountancy firms are offering is less in the Bahamas, but they’re saying the cost of living is considerably lower. (i.e. Cayman/BVI - $60K, Bahamas $50K).

I’m a bit apprehensive given the salary package is so much lower – but if the cost of living is truly considerably lower than Cayman/BVI then the sums may work out?

Is anyone able to give me some information about the cost of living in the Bahamas, and generally is there a large expat community there to socialise with? Would you recommend having a car?

Also does anyone know of any online classifieds for rentals/shared rents? For Cayman, ecayonline has hundreds of cars/rentals/shared rentals… but I can’t find anything similar for Bahamas.

Any information would be greatly appreciated.

Cheers.

[Pistolpete2]

Originally Posted by MCR_CA Hi Everyone! I was wondering if anyone could give me a little information about expat life in the Bahamas. I’m an accountant, 26, and was initially planning on a move to Grand Cayman, but it transpires there are some immediate opportunities available in the Bahamas (Nassau & Freeport). The salary package the accountancy firms are offering is less in the Bahamas, but they’re saying the cost of living is considerably lower. (i.e. Cayman/BVI - $60K, Bahamas $50K). I’m a bit apprehensive given the salary package is so much lower – but if the cost of living is truly considerably lower than Cayman/BVI then the sums may work out? Is anyone able to give me some information about the cost of living in the Bahamas, and generally is there a large expat community there to socialise with? Would you recommend having a car? Also does anyone know of any online classifieds for rentals/shared rents? For Cayman, ecayonline has hundreds of cars/rentals/shared rentals… but I can’t find anything similar for Bahamas. Any information would be greatly appreciated. Cheers.

Some things to think about:

Be very wary of "Caribbean" Accountancy Firm salary levels right now. Offshore business has been under a lot of pressure with plenty of redundancies so they have to try to lure candidates on the expectation of lifestyle as opposed to money (a bit like Virgin Atlantic). In addition, firms like to recruit candidates from low wage areas as the salaries offered do NOT tend to be attractive to those from UK cities other than say Belfast or Plymouth. $60K is Cayman dollars?? This seems to equate to a newly-qualified (Audit Senior) pay-scale hiring in Cayman.

Why would firms be recruiting NOW when we are just approaching the END of busy season when it is now typical to think about letting people go? Hiring is typically in October.

In the Bahamas I see this which seems fair if the highs/lows indeed relate to the Bahamas:

http://www.reed.co.uk/job/details.as...T.mc_id=Indeed

But it is much more than $50,000.

Aside from the cost of living in the Bahamas of which I know NOTHING, I'll throw something at you which might help you consider how to chart your course:

What is going to be your exit strategy when the time comes for you to leave your initial place of employment? Will you then be looking to go into local industry or, having seen a bit of the world, return to the UK.

Different islands have different Immigration rules when it comes to leaving your first place of employment and some of these can be quite onerous.

In addition, bear in mind that Bermuda and Caymans have a REPUTATION for their Reinsurance and related businesses and this might help you in making choices in your second level of overseas experience. Of course the Bahamas has a reputation in the area of international offshore banking and this could offer something for you in due course as well but you would need to know how they would consider you against local connected candidates if this was the sort of mobility that you wanted.

This is all important stuff NOW as we are seeing more and more that overseas experience can be discounted or trashed by potential employers when/if you return to the UK. But then you may already know this.

[Orangepants]

Hi,

I only went on vacation to the Bahamas and I found it extortionately expensive, much more than Cayman. Taxis, eating out, drinks etc.. But then being a tourist is more expensive. Wouldn't go back for many reasons, not to the mainland anyway.
If I were you I'd wait for the Cayman job - $60K USD will an ok lifestyle in Cayman.

[killerhales]

According to xpatulator.com, Nassau is more expensive than George Town for expats. A lower offer vs. George Town sounds a bit strange. A good employer will pay for official (and indepedent) analyses of cost of living from companies like Mercer. We used to fill in a detailed survey twice per year to help keep such surveys up to date.

I left the Bahamas around 10 years ago, so a bit out of date, but the cost of living is very high, due to import tariffs, so although there is no income tax, it is very easy to spend money.

If you google Bahamas real estate you'll see a few companies, we used Damianos to find a house rental and I remember HG Christie as another one.

There are lots of expats around, join somewhere like the Nassau Yacht Club. Younger expats we found OK. Older ones very cynical, critical and in general worth avoiding! Of course this is a generalisation, good and bad in most people.

We had a young child and got to know local families. The local Greek Bahamian community (descended from Sponge divers in the early 1900's) are very friendly and welcoming if you happen to get to know them.

Don't plan on staying too long. Three to four years optimal, at that stage Nassau is starting to feel very small! Miami/Fort Lauderdale very close and you can always pop across very cheaply to get back to "civilisation".

The local beer "KALIK" is perfect for the climate and you can get locally brewed Heineken (nice and fresh versus stale imported beer).

I would recommend Nassau; some people worry about security but it just depends if you are a glass half empty or a glass half full person.

I know nothing about George Town but it is even smaller and that would concern me! Nassau is a tough place to work for all kinds of reasons but the compensations are obvious. Don't forget you are NOT on holiday!

Good Luck

[killerhales]

Sorry, forgot: you will DEFINITELY need a car, and they are also very expensive!

[Mitzyboy]

Originally Posted by Orangepants Hi, I only went on vacation to the Bahamas and I found it extortionately expensive, much more than Cayman. Taxis, eating out, drinks etc.. But then being a tourist is more expensive. Wouldn't go back for many reasons, not to the mainland anyway. If I were you I'd wait for the Cayman job - $60K USD will an ok lifestyle in Cayman.

Me too, but I'm guessing you ended up on Paradise Island which is frighteningly expensive

On the car situation ..... whilst we were there we used to walk over the bridge from Paradise Island and wander on down towards Nassau. The hotel people told us it was fine, quite safe. A week after we got back from holiday a tourist was shot dead at the end of the bridge.

Make sure you have a car

[Pistolpete2]

Originally Posted by Mitzyboy a tourist was shot dead at the end of the bridge.

Not the sort of thing that tourists are normally able to find out about from the local newspapers who apparently are typically told to "keep a lid on it".

[Orangepants]

George Town is small but people dont live in GT as such, they live all around GT and all around the island and because the island is so small you dont need to live in GT if that makes sense.
Lots of rentals and a very well established infrastructure for new workers to get established quickly, lots of cars for sale in all price ranges.
If anything I found that life seemed to be getting less expensive in the last couple of years in cayman, more large cosco type stores opened up selling household goods and bulk groceries and the grocery stores introduced more budget brands.
Eg. I rented a 1 bed apt about a mile from GT in 2001 for $1000 CI ($1250 USD). In 2009 I rented a 1 bed apt for $1200 CI ($1500) - not a huge price increase in that time period.

Yes I stayed at Atlantis - never again!

[MCR_CA]

Hi everyone - thanks so much for the replies. After doing my research and from the comments above - I declined Bahamas and said I wanted to wait for Cayman.

Subsequently an even more interesting offer has been presented - 8 months in BVI from May, then join Cayman in Jan 2012 (same package for both).

I was a bit apprehensive about BVI given the population is half that of CI, but I figure it's only 8 months and a chance to see 2 places. Sorry for the repeated question - but has anyone got any experience about what it's like in BVI for a young single expat?

Is there an active/sociable expat community? And given the hilly terrain and lack of public transport, I'm guessing it's essential to have a car in BVI?

Cheers!

[Mitzyboy]

Originally Posted by MCR_CA Hi everyone - thanks so much for the replies. After doing my research and from the comments above - I declined Bahamas and said I wanted to wait for Cayman. Subsequently an even more interesting offer has been presented - 8 months in BVI from May, then join Cayman in Jan 2012 (same package for both). I was a bit apprehensive about BVI given the population is half that of CI, but I figure it's only 8 months and a chance to see 2 places. Sorry for the repeated question - but has anyone got any experience about what it's like in BVI for a young single expat? Is there an active/sociable expat community? And given the hilly terrain and lack of public transport, I'm guessing it's essential to have a car in BVI? Cheers!

If you are enquiring about the Virgin Islands or Caymans then you need to start a new thread as this is about Bahamas expat life and we dont want it taken off topic

[MCR_CA]

Originally Posted by Mitzyboy If you are enquiring about the Virgin Islands or Caymans then you need to start a new thread as this is about Bahamas expat life and we dont want it taken off topic

My apologies - will do!

[Pistolpete2]

Originally Posted by MCR_CA Hi everyone - thanks so much for the replies. After doing my research and from the comments above - I declined Bahamas and said I wanted to wait for Cayman. Subsequently an even more interesting offer has been presented - 8 months in BVI from May, then join Cayman in Jan 2012 (same package for both). I was a bit apprehensive about BVI given the population is half that of CI, but I figure it's only 8 months and a chance to see 2 places. Sorry for the repeated question - but has anyone got any experience about what it's like in BVI for a young single expat? Is there an active/sociable expat community? And given the hilly terrain and lack of public transport, I'm guessing it's essential to have a car in BVI? Cheers!

Before you disappear I can say that BVI life revolves around sailing as it is one of THE premier sailing locales on the planet. I would guess that's where the expats will be. Road Town is tiny but has a couple of nice hangouts on the marina. Also check Nanny Cay!

Well done with your choices!

[MidwestBob]

Good Choice !
Nassau currently averages more than 1 murder a week. Used to be a wonderful place to live. But not now.

[Steve_]

Originally Posted by MCR_CA I’m an accountant, 26, and was initially planning on a move to Grand Cayman, but it transpires there are some immediate opportunities available in the Bahamas (Nassau & Freeport).

Bear in mind that Nassau and Freeport are very different although they're in the same country. Freeport has the advantage of being in the FTZ so there are no property taxes (yet, I think the agreement expires next year). The Bahamas does have payroll taxes (8% IIRC, but the employer pays part of it) and the Cayman Islands do not (not that I'm aware of anyway), but high import duties, 20%+ on most things (but coming from the UK you're paying that in VAT anyway).

One thing I think you need to factor in is healthcare costs, no NHS there. If you live in Freeport you can also get to Florida more easily (I find it interesting that the plane and the ferry cost almost exactly the same, bit of a monopoly going on there). I did seriously consider moving there at one point, but it's very sleepy, outside of the port and a few hotels there is bugger all on Grand Bahama.

I had family who worked in the BVI many years ago, obviously things must have changed by now but their impression was pretty but got boring after awhile. Also has payroll taxes now.

[GavinR]

Originally Posted by Steve_ Bear in mind that Nassau and Freeport are very different although they're in the same country. Freeport has the advantage of being in the FTZ so there are no property taxes (yet, I think the agreement expires next year). The Bahamas does have payroll taxes (8% IIRC, but the employer pays part of it) and the Cayman Islands do not (not that I'm aware of anyway), but high import duties, 20%+ on most things (but coming from the UK you're paying that in VAT anyway). One thing I think you need to factor in is healthcare costs, no NHS there. If you live in Freeport you can also get to Florida more easily (I find it interesting that the plane and the ferry cost almost exactly the same, bit of a monopoly going on there). I did seriously consider moving there at one point, but it's very sleepy, outside of the port and a few hotels there is bugger all on Grand Bahama. I had family who worked in the BVI many years ago, obviously things must have changed by now but their impression was pretty but got boring after awhile. Also has payroll taxes now.

Hello Steve! Import duties are a min of 42%, 85% on cars plus the same on the shipping and insurance!