About the Bahamas

The Bahamas is conveniently located less than 100 miles of the coast of Florida, a few hours by ship or thirty minutes by plane. The Bahamas is a magnificent location to build your vacation or second home, and under new legislation it is even easy for foreigners to become permanent Bahamian residents.

Not to mention the Bahamas has the perfect climate averaging a little over 75 degrees and the ideal environment crystal clear turquoise blue waters and pearly white sandy beaches, the Islands of the Bahamas is the perfect travel destination for your wedding, siesta, party, honeymoon, or family vacation.

One of the most alluring elements of investing in The Bahamas is the tax-free status according to earnings. There are no taxes levied on capital gains, corporate earnings, personal income, sales, inheritance, or dividends. This tax freedom is available to all resident corporations, partnerships, individuals and trusts.

Investors are also attracted to the stability of the Bahamian economy, which is solely derived by the unwavering value of the Bahamian dollar. This currency is on par to the US dollar on a 1:1 ratio. US dollars and Bahamian dollars are used interchangeably throughout the island chain.

The Bahamas government also offers an abundance of investment incentives that provide reprieve from customs duties on permitted equipment, and building supplies, as well as allowing exemptions from business licenses and real property taxes for up to 20 years.

• The Hotels Encouragement Act exempts hotel developers from customs duties on raw materials and equipment. Exemptions from real property tax and licensing fees are also available.
• The Industries Encouragement Act exempts exporters from import duties on raw materials and equipment and business license fees. This act is of particular benefit for manufacturers.
• The Export Manufacturing Industries Encouragement Act provides an approved manufacturer who intends to export or annually exports at least 95% of the total approved products produced by the manufacturer is afforded duty-free import of raw materials, equipment and building supplies used in the manufacture of the product or facilities for the same and duty-free export of those products.
• The Bahamas Free Trade Zone Act
• The Agricultural Manufactories Act provides subsidies to agricultural businesses in the form of interest-free loans for the purchase of supplies and exemption from duties on a wide range of products, including building suppliers, processing materials and farm trucks. It also provides exemption from export taxes.
• Freeport on Grand Bahama Island gives businesses in the free trade zone exemption from taxes on profits, capital gains, inheritance, income, earnings, distributions, gifts, or on imported and exported goods. In addition, import duties and taxes on real estate have been waived through August 3, 2015.
• The Tariff Act provides exemptions to approved manufacturers for the import of capital equipment and raw material for garment manufacturing, food processing, the production of handicraft and souvenir items, and cottage industries.
• The Spirit and Beer Manufacture Act provides duty-free import of raw material and equipment for spirits and beer manufacturers.