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Investing in The Bahamas
In times of economic uncertainty, The Bahamas remains a top choice for investors for a variety of reasons, including an advantageous tax environment, proximity to the US and a high standard of excellence in its financial services sector.
Investors flock to these sun-kissed shores to take advantage of the expertise here. With an experienced and highly skilled set of professionals on hand, the country deserves its reputation as a leading centre for all types of financing. Be it mutual trusts, foundations or real estate investment, Bahamian professionals offer high-quality legal, advisory, accounting and administrative services. In fact, The Bahamas’ financial services sector has been providing services for the international community since the 1930s and is now the country’s second-largest industry after tourism, accounting for about 20 per cent of the country’s GDP.
Our investment-friendly tax legislation is one reason why The Bahamas is such a thriving centre of business. Personal income, capital gains, corporate earnings, sales, inherited assets and dividends are all exempt from tax. A relaxed legislative framework also allows for easy and swift repatriation of foreign investment funds, foreign assets and dividends as well as profits from direct investment. The country’s judicial and legal framework, incidentally, is based on the British model. The Bahamas became self-governing in 1973 and, since then, has maintained a stable political system and thriving economy.
Boosting the country’s profile as a major investment hub is its location. Just 50 miles from the US coast and sharing a time zone with important financial centres such as New York and Toronto, The Bahamas is easily accessible, with flights from Nassau’s Lynden Pindling International Airport to locations in the US, other islands in the Caribbean and London. The country’s currency is pegged to the US dollar making it convenient when transferring funds and carrying out transactions. Both the Bahamian dollar and the US dollar are accepted interchangeably within The Bahamas.
Accessible and successful, The Bahamas is not just an offshore centre operating in isolation. It has a role in the international financial community, too. The country is a member of the Caribbean Community (CARICOM); has established an economic partnership agreement with the European Union and has been a member of the United Nations since 1973 and of the Organization of American States since 1982. It also holds observer status in the World Trade Organization.
With its pleasant year-round climate, breathtaking beaches and a wide range of fun activities, The Bahamas is a sought-after location for a second or retirement home. Investors and their families often follow their investments and move here, taking advantage of the laid-back expat lifestyle and enjoying the peace of mind that comes with knowing your finances are in safe hands.
To find out more about investment opportunities in The Bahamas, pick up the current issue of The Bahamas Investor, the country’s leading source of business information. It’s free and available in many locations throughout Nassau.
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Invest_CountWays_WTDNJul10
Count the ways
Investing in The Bahamas
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