Bahamas Economy and Foreign Investment
The Bahamas is a stable, developing nation with an economy heavily dependent on tourism and offshore banking. The popularity of The Bahamas as a financial haven is attributed to the fact that it is a no tax jurisdiction and provides stringent banking privacy laws which are very beneficial for investors and depositors. As a result, offshore banking in The Bahamas has become an enormous industry.
The Bahamian Government maintains the value of the Bahamian dollar to be on a par with the U.S. dollar. Tourism is the largest sector of the Bahamian economy. The Bahamas is quickly becoming known for the warm welcome that awaits international investment. Steady growth in tourism has stimulated the economy and provided a boom in construction of second homes in recent years.
With economic, political and social conditions that provide a fertile business environment, the Bahamas has indeed become a paradise for investment. The Bahamas offers a number of unique advantages – freedom from taxation, democratic stability and investment incentives – and an infrastructure that encourages, supports and rewards international investment.
The Investment Environment
The Government’s initiative is to provide:
An atmosphere where investments are safe and the expropriation of investment capital is never considered
A legal environment based on democracy, the rule of constitutional and statute laws and where life and personal property is guaranteed
A stable economic environment bolstered by a prudent fiscal policy, a stable exchange rate, flexible exchange control rules and free trade
No Capital Gains, Inheritance, Withholding, Profit Remittance, Corporate, Royalties, Sales, Personal Income, Dividends, Payroll and Interest Taxes
Essential public services, an adequately equipped police constabulary, modern health and education facilities and other social services
Dependable public utilities for all citizens and visitors
Essential public infrastructure such as roads, ports and airports
Economic Policy
The Government of the Commonwealth of The Bahamas is committed to building an economic environment in which free enterprise can flourish; where the Government assumes its proper role as regulator and facilitator of economic development; where the ideals of transparency, fair play and equality of treatment are paramount; and a policy that maintains a stable society in which all people are afforded the opportunity to realize their maximum potential. The Bahamian government has enacted advantageous tax and immigration incentives to foster foreign investment. For more information on investing in the Bahamas click here for details.
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