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Bahamas Business, Taxation and Offshore Information

The Bahamas Are An Independent Nation State

The Bahamas became independent from the UK in 1973, although the Queen remains Head of State. Beginning 50 miles off Florida, in the Caribbean, the Bahamas has 700 islands and a population of just over 350,000. The official language is English. The capital is Nassau, there are a number of international airports with good connections, and there are excellent port facilities. The climate is sub-tropical. The Westminster-style government is business-friendly. In May 2012, voters ousted Prime Minister Hubert Ingraham's Free National Movement Party, with 29 of the 38 House of Assembly seats going to the Progressive Liberal Party led by Perry Christie. Mr. Christie was sworn in as Prime Minister on May 8, 2012.

Economy Based on Financial Services and Tourism

The Bahamas was a trust and tourist jurisdiction very early in the 20th century, but was relatively late in developing as a financial centre. The economy is heavily dependent on tourism (4m visitors a year), but financial services are growing in importance. GDP was USD11.24bn in 2012 (est) at purchasing power parity, and GDP per head was about USD31,900 in 2012 (est) at PPP. This is above average for the region, but well behind the most successful (and smaller) jurisdictions such as the Cayman Islands and the British Virgin Islands.The global financial crisis left its mark on the country's economy with GDP contracting and the budget deficit increasing. However increased tourism, particularly from the US and new investments, have reversed the decline. Investment in the tourism sector and increased visitor numbers are vital for further growth. More »

 

Bahamas Knowledge Base

Bahamas: Country and Foreign Investment
A quick overview of the Bahamas - its history, geography, and business advantages.
Bahamas Executive Summary »
Bahamas Geography »
Bahamas Population, Language and Culture »
Bahamas Government »
Bahamas Economy and Currency »
Bahamas Entry and Residence »
Bahamas Business Environment »
Bahamas International Stock Exchange »
Bahamas Import of Foreign Capital »
Bahamas Foreign Investment Regime »

Bahamas: Types of Company
A look at various types of company in the Bahamas, providing options to suit different business needs.
Bahamas Company Introduction »
Bahamas Domestic Limited Company »
Bahamas Company Limited by Guarantee »
Bahamas Public Company »
Bahamas International Business Company »
Bahamas Limited Duration Company »
Bahamas Foreign Company »
Bahamas Limited Partnership »
Bahamas Exempt Limited Partnership »
Bahamas Trusts »
Bahamas Foundations »
Bahamas Segregated Account Company »

Bahamas: Offshore Business Sectors
The key sectors of the Bahamas's offshore economy.
Bahamas Offshore Business Introduction »
Bahamas Financial Holding and Investment »
Bahamas Banking »
Bahamas Trust Management »
Bahamas Investment Fund Management »
Bahamas Ship Management and Maritime Operations »
Bahamas Insurance »

Bahamas: E-Commerce
A description of how e-commerce operations are enabled in the Bahamas, and how the offshore tax regime can best be utilised for e-commerce.
Bahamas E-Commerce Introduction »
Bahamas Facilities »
Bahamas Telecommunications »
Bahamas Legislation »

Bahamas: Offshore Legal and Tax Regimes
This section looks at available offshore operations in the Bahamas and the criterion required for obtaining offshore tax status.
Bahamas Offshore Introduction »
Bahamas Forms of Offshore Companies »
Bahamas Tax Treatment of Offshore Operations »
Bahamas Fees Payable by Financial Institutions »
Bahamas Taxation of Foreign Employers of Offshore Operations »
Bahamas Exchange Control »
Bahamas Offshore Activities »
Bahamas Employment and Residence »

Bahamas: Law of Offshore
A hub for information about the main laws and statutes affecting offshore and non-resident businesses in the Bahamas.
Bahamas Table of Statutes »
Bahamas Trust Law »
Bahamas Banking Law »
Bahamas Insurance Law »
Bahamas Mutual Fund Law »

Bahamas: Labour Regulation
An analysis of employment law, industrial relations, and social security schemes in the Bahamas.
Bahamas Regulatory Environment »
Bahamas Work Permits »

Bahamas: Domestic Corporate Taxation
A guide detailing the scope and rate of taxes affecting companies in the Bahamas.
Bahamas Corporate Tax Introduction »
Bahamas Business Licence Fees »
Bahamas Payroll Taxes »
Bahamas Stamp Duties »

Bahamas: Personal Taxation
An overview of applicable taxes for individuals in the Bahamas.
Bahamas Personal Tax Introduction »
Bahamas Residence and Liability for Taxation »
Bahamas Real Estate Taxes »

Bahamas: Double Tax Treaties
Treaties and international agreements that the Bahamas has in place, to mitigate the effects of double taxation.
Bahamas Tax Treaty Introduction »
Bahamas Other International Agreements »

Bahamas: Related Information
Other useful information pertinent to the Bahamas.
Bahamas International Law »
Bahamas Banking Confidentiality »
Map of The Bahamas »