Is it true that a UK citizen can can residence in the Bahamas if they purchase a home for a minimum of $500k?

I have heard it is $500,000.00 with 30%down for residency, and you do not have to purchase a business. Does Bahamain realestate fall under UK guidelines? Any help, will, well...help! ThanksIs it true that a UK citizen can can residence in the Bahamas if they purchase a home for a minimum of $500k?
www.craigslist.comIs it true that a UK citizen can can residence in the Bahamas if they purchase a home for a minimum of $500k?
what a crap answer?

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