Economic Overview & Business Opportunities
Bahamas Investment incentives
Investment incentives under the following Acts include, among other incentives, exemption from the payment of customs duties on certain construction materials, equipment and approved raw materials. Additionally, waiver of real property taxes is available for certain investments for periods of up to 20 years.
• Export Manufacturing Industries Encouragement Act
• Industries Encouragement Act
• Agricultural Manufactories Act
• Tariff Act
• Hotels Encouragement Act
• Spirits and Beer Manufacture Act
• Family Island Development Encouragement Act
• Free Trade Zone Act
• City of Nassau Revitalization Act
• Bahamas Vacation Plan and Time-sharing Act
• Hawksbill Creek Agreement Act
Areas targeted for foreign investors
Following is a list of certain investment areas especially targeted for international investors. However, the list is not exhaustive, and investors interested in areas not included should consult BIA. Joint ventures with Bahamian partners are encouraged, with the choice of partner being at the discretion of the investor.
1. Touristic resorts.
2. Upscale condominium, timeshare and second home development.
4. Information/data processing.
5. Assembly industries.
6. High-tech services.
7. Ship registration, repair and other ship services.
8. Light manufacturing for export.
10. Food processing.
11. Mari culture.
12. Banking and other financial services.
13. Captive insurance.
14. Aircraft services.
15. Pharmaceutical manufacture.
16. Offshore medical centres.
What’s required in an investment proposal?
An international investor seeking to do business in The Bahamas should submit to the Bahamas Investment Authority a project proposal containing:
1. Name and address, including telephone/fax.
2. Executive summary of project.
3. Type of business–whether share company, partnership, individual or joint venture.
4. Principals–investors, major beneficial shareholders, including their dates and places of birth, as well as passport or social security numbers.
5. Proposed location.
6. Land requirements.
7. Start-up date.
8. Employment projections–number of Bahamian and non-Bahamian employees.
9. Management/personnel requirement–years of experience, training and work permits* for key personnel.
10. Financial arrangements for project, including bank reference.
11. Environmental impact–toxic waste, disposal procedures, toxic input.
12. Total capital investment in project with a breakdown of items and start-up cost. Minimum investment is $250,000.
* Necessary work permits for key personnel will be granted. Businesses requiring permits for persons other than key personnel are encouraged to consult BIA in advance.
1. A politically and economically stable environment conducive to private investment.
2. An atmosphere where investments are safe and the expropriation of investment capital is not considered.
3. A legal environment based on a long tradition of parliamentary democracy, the rule of constitutional and statute laws, and where security of life and personal property are guaranteed.
4. An environment in which freedom from capital gains, inheritance, withholding, profit remittance, corporate, royalty, sales, personal income, dividends, payroll and interest taxes is ensured.
5. The location of Atlantis Paradise Island sister to Atlantis Dubai
Awards: Postgraduate Certificate of Award in Commercial Lending TransactionsTransactions.