Business & Investment

In earlier centuries, the Bahamas was a favourite haunt of pirates and buccaneers. Today, the Bahamas is one of the world's preferred jurisdictions for the wealthy and famous. Its close proximity to Miami, Florida (45-minute flying time) ensures that good air connections link the country to the United States and the rest of the world.

The Bahamas has for more than 280 years been an uninterrupted parliamentary democracy, which makes it one of the most stable countries in the world. The Bahamas was a British colony until it gained independence in 1973. It is a member of the Commonwealth of Nations. The Head of State of the Bahamas is HM King Charles III, represented by a Governor General.

The country provides an attractive place to do business and make investments due to its advanced and business-friendly legislation.
Cruise Ships in Nassau Harbour
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Stable Economy

The Bahamas is home to about 400 licensed banks and trust companies with total assets under management of about US$ 200 billion. The economy relies heavily on tourism and financial services. The Bahamas has a pool of highly skilled workers due to these developed industries. The World Bank has rated the Bahamas as the most economically prosperous Caribbean Community (CARICOM) country.

Tax
 
The Bahamas adheres to international standards of transparency and tax information exchange. The government has brought into force the International Tax Cooperation Act, of 2010, and concluded twenty-two tax information exchange agreements. The Bahamas and Australia have signed a Tax Information Exchange Agreement.

Major Foreign Investors

Among major foreign investments in the Bahamas are the Grand Bahama container port by Hong Kong's Hutchison Port Holdings (HPH); The Westin and Sheraton resorts at Lucaya by Hutchson Lucaya Ltd; the Atlantis, Paradise Island, mega-resort by Kerzner International Ltd; the Wyndham Nassau Resort and Crystal Palace Casino and Convention Centre, Sheraton Cable Beach Resort and Nassau Beach Hotel by the Baha Mar Development Co; Sandals Royal Bahamian Resort & Spa, by Sandals resorts; SuperClubs Breezes Bahamas, by SuperClubs SuperInclusive Resorts; and the British Colonial Hilton Nassau, by Adurion Investment Management.

Establishing a Business in the Bahamas

All non-Bahamians or permanent residents seeking to do business in the Bahamas must submit a project proposal to the Bahamas Investment Authority (BIA). The BIA operates from the Office of the Prime Minister. It has been designed to simplify investing in the Bahamas, cut red tape and lay out the red carpet for investors. Interested persons must:
  • be non-Bahamian
  • have a minimum investment of BS$500,000
  • be interested in an area that isn't reserved for Bahamian's.

For more information please contact:
Bahamas Investment Authority
2nd Floor Cecil Wallace-Whitfield Centre
West Bay Street
Nassau, New Providence
The Bahamas
Tel:  +1 242 327 58269
Fax: +1 242 327 5806
Email: bia@bahamas.gov.bs
Website: www.bahamas.gov.bs/bia
Resource: BIA Project Proposal Form
Areas Targeted for International Investors
  • Touristic resorts
  • Upscale condominium, time share and second home development
  • Information and data processing services
  • Assembly industries
  • High-Tech services
  • Ship repair and other services
  • Light manufacturing for export
  • Agro-industries
  • Food processing
  • Mariculture
  • Banking and other financial services
  • Captive insurance
  • Aircraft services
  • Pharmaceutical manufacture
  • Off-shore medical centres
Areas Reserved for Bahamian Nationals Only
  • Wholesale and retail operations
  • Commission agencies engaged in the import/export trade
  • Real estate and domestic property management agencies
  • Domestic newspapers and magazine publications
  • Domestic advertising and public relations firms.
  • Security services
  • Domestic distribution of building supplies
  • Construction companies, except for special structures for which international expertise is required
  • Personal cosmetic/beauty establishments
  • Shallow water scale-fish, crustacean, mollusks and sponge-fishing operations
  • Auto and appliance service operations
  • Public transportation inclusive of locally solicited charter boat tours
  • Landscaping
If investors are interested in areas not included in the above two lists, they are encouraged to bring their interest to the attention of the BIA.

The consulate is also here to provide assistance with any of your business and investment questions and introduction needs.
Investment Incentives

The Bahamas offers a range of investment incentives for those who invest in hotels, free trade zones, export manufacturing, etc. To learn more visit the Government's Investment Incentives page.

Acquiring Real Estate

Foreign real estate ownership is permitted. A foreigner who purchases a home in the Bahamas can now simply apply to the Secretary of the Investment Board, which will register the purchase and issue a Certificate of Registration. Larger purchases involving acreage requires a permit via the Bahamas Investment Authority.
Relevant Links
Visa and Travel Advice

Australian citizens holding a valid Australian passport are able to visit the Bahamas for 3 months visa free. Passports should be valid for six months from the date of departure from The Bahamas. If traveling on a non-Australian passport please consult the following lists:
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