One of the most attractive elements
of investing in The Bahamas is the
tax-free status accorded to income.
There are no taxes levied on capital
gains, corporate earnings, personal
income, sales, inheritance, or dividends. This tax freedom is available
to all resident corporations, partnerships, individuals and trusts. Investors are also attracted to the stability
of the economy, which is steadied by
the solid value of the Bahamian dollar. Pegged to the US dollar on a 1:1
ratio, both currencies are used interchangeably throughout the country.
While incorporation and registration have been facilitated by The International Business Companies Act
of 1989 and the Companies Act of
1992 to establish a commercial presence in The Bahamas, the immigration policy is also flexible. Necessary
work permits for key personnel are
Exchange control is administered by
readily granted along with accelerthe Central Bank. International financated consideration for annual or pering is very accessible as The Bahamas
manent residence. Today’s Bahamian
is associated with several organizations
investors would be joining renowned
that ease access to financing and proactor and diplomat Sir Sidney Poitier,
vide important safeguards for investors.
former NBA stars Mychal ThompThe US Government’s Overseas Prison and Rick Fox, international suvate Investment Corporation (OPIC),
permodel Shakara Ledard, GrammyThe inducement of a tax-free envi- for example, makes direct financing
winning artist Lenny Kravitz, and a
ronment and a stable currency are and loan guarantees available to foreign
number of famous Olympians, scholenhanced by a series of investment investors. The Multilateral Investment
ars, and high-achievers as residents of
incentives that provide relief from Guarantee Agency is a World Bank unit
The Bahamas.
customs duties on approved raw and parent of the Multilateral Investmaterials, equipment, and building ment Guarantee Convention, which
supplies, as well as exemptions from provides protections similar to those
business licenses and real property of OPIC. The Bahamas also recently Marilyn Douglas-Jones is a
taxes for up to 20 years. In accor- agreed to become a party to the con- professor of English & Foreign
dance with terms of the Interna- vention on the settlement of invest- Languages in Houston and founder of
tional Monetary Fund Agreement, ment disputes.
the Caribbean Impact Network.
22 iF Magazine | September 2016
The Ba