The Bahamas Investment Authority will be further supported by the Government of The Bahamas through the provision and assurance of creating:
- A politically stable environment conducive to private investment;
- An atmosphere where investments are safe and the (expropriation)? of investment capital is not a considered option;
- 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 is guaranteed;
- A stable macroeconomic environment bolstered by a prudent fiscal policy, a stable exchange rate, flexible exchange control rules and free trade;
- An environment in which freedom from Capital Gains, Inheritance, Withholding, Profit Remittance, Corporate, Royalties, Sales, Personal Income, Dividends, Payroll and Interest Taxes is ensured;
- Essential public services, an adequately equipped police constabulary, modern health and education facilities and other social services;
- Dependable public utilities and essential public infrastructure such as roads, ports and airports.
Established as an international financial Mecca and recognized as a strategic location for some of the world’s most respected financial and banking organizations, the Government has remained steadfast in ensuring that the sector continues to enforce industry regulations.
The Bahamas Financial Services Board (BFSB) was created in 1998 to promote the strengths of The Bahamas as a financial centre. In addition liaising and consulting with government on developing new initiatives to propel the sector, BFSB organizes programs with the benefit of increasing confidence for investors and businesses seeking The Bahamas as a centre for commerce.
Furthermore, BFSB monitors and contributes in many ways to all sectors of the industry, including banking, private banking and trust services, mutual funds, capital markets, investment advisory services, accounting and legal services, insurance, and corporate and shipping registry.
For more information, visit www.bfsb-bahamas.com.
Investment incentives under the following Acts include exemption from the payment of customs duties on building materials, equipment and approved raw materials; and exemption from real property taxes for periods up to twenty years:
- The Hotels Encouragement Act
- The Industries Encouragement Act
- The Agricultural Manufactories Act
- The Spirits and Beer Manufacturer Act
- The Export manufacturing Industries Encouragement Act
- The Free Trade Zone Act.
Note: Custom duty exemptions do not apply to personal consumables.
Investors may acquire publicly owned lands for approved developments on concessionary terms. Investors may acquire low cost space for lease for industrial enterprises Government will provide special training and retraining for Bahamian workers to ensure the continuing availability of a highly skilled labor force.
PREFERENTIAL TRADE INCENTIVES
Business located in The Bahamas may benefit from the following preferential trade arrangements:
- The Lome Convention
- General system of Preference (GSP)
- Caribbean Basin Initiative
BAHAMAS INVESTMENT AUTHORITY (BIA)
Develop investment policies
Evaluate project proposals
Monitor projects and provide support
The Bahamas Investment Authority (BIA) also serves as the administrative component of the National Economic Council (NEC), headed by the Prime Minister.
BAHAMAS INVESTMENT AUTHORITY
Office of the Prime Minister
Cecil Wallace-Whitfield Centre
Cable Beach P.O. Box CB-10980
Nassau, The Bahamas