Bahamas Market Information

As an independent country with a stable democratic government and good international relations, the Bahamas is a secure place to live and invest. The Bahamian people are friendly with a vivacious nature that is reflected in their culture, especially in their Junkanoo festivals. Bahamians have mastered a unique balance between business and a laid-back, relaxed island life-style. Classified as an upper to middle income developing nation and ranked as one of the wealthiest in the Caribbean region the Bahamas enjoys a strong, dependable economy based primarily on tourism and financial services. Their currency is $1.00 Bahamian (BSD) = $1.00 US except at the banks where it is roughly .9950% to the dollar when exchanging funds. With the right conditions in place economically, politically and socially and with incentives as a tax free haven, the Bahamas has become an investor’s heaven. International investment is welcome here. The Bahamas is highly experienced in facilitating foreign investments and real estate transactions.

International Persons Landholding Act:
The International Persons Landholding Act, 1993 came into operation on the 1 January, 1994 to facilitate the holding of land by non-Bahamians and by companies under their control.

The legislation allows non-Bahamians to purchase a single family dwelling, or land intended for the construction of this type of dwelling, without the need of a permit. The Act also enables a non-Bahamian who owns and maintains a home in The Bahamas to apply for an annual homeowner's resident card that upon approval, entitles the applicant, his or her spouse and minor children until the age of eighteen to enter and remain in the country for the duration of the card. The cost of the card is $500 and it is renewable annually.

Government and Law:
We became Independent from Britain on July 10, 1973 with a Parliamentary democracy where the political system is based on the British Westminster model with a Governor General, a Prime Minister and a Parliament. The two primary parties are the Progressive Liberal Party (PLP) and the Free National Movement (FNM) which was re-elected for a five year term in 2007. Queen Elizabeth ll is the nation’s sovereign; currently serving is Prime Minister Hubert Ingraham of the FNM, who presides over a 41 member parliament. Our government is based on English common law with the Privy Council in London being the highest court of the Bahamas.

Financial Services:
The Bahamas has carved out a specialized niche as a leading offshore financial centre, largely favoured by Canadian, Swiss and US institutions. One of the greatest appeals of using The Bahamas as a domicile for corporate and financial services is its tax-free status; no taxes are levied on personal income, capital gains, corporate earnings, sales, inheritance or dividends.