The Commonwealth of the Bahamas consists of more than 700 islands extending across 100,000 square miles in the Atlantic Ocean, starting 55 miles off the southeast coast of Florida. Over 6 million people visit the Bahamas each year, collectively spending an average of $3 billion in the islands. Fully independent since 1973 with a government based on the British parliamentary system, the Bahamas enjoys a strong tradition of political stability, supporting its reputation as a safe location for investment. In addition to various investment incentives offered by the Government, there are no taxes levied on capital gains, corporate earnings, personal income, sales, inheritance or dividends. In terms of gross domestic product per capita, the Bahamas is one of the richest countries in the Americas, just behind the United States and Canada. The Bahamian dollar is on par with the U.S. dollar and both are widely accepted in the region.
In addition to its natural beauty and abundant natural resources (seafood, salt, limestone, aragonite and possibility huge oil reserves) the Bahamas has a huge advantage over many other economies in the region and that is Location, being situated just a few miles from the world’s largest economy in the United States.
The Bahamas is located on the east-west shipping routes between Europe, Africa and North America as well as the north-south shipping routes between South America, the Caribbean and North America. This makes it an ideal location for transshipment facilities for oil, gas and containers as well as an industrial park.
About the author
Mr. Gregory Burke specializes and advises corporates and individuals on Private Wealth Solutions, Offshore Business Solutions, International Tax Planning, Legal Corporate Services, Foreign Market Entry