The 700 beautiful islands that make up The Bahamas are a coral archipelago covering an area of approximately 100,000 square miles that extend from 50 miles off the east coast of Florida, to within 60 miles of the northern coast of Hispaniola. Of all of those islands, only 29 are permanently inhabited. The Bahamas are recognized worldwide as a unique tourist and second home destination and a center for offshore financial services.
With an estimated population of about 400,000 people and a land area of approximately 5,300 square miles, The Bahamas is relatively sparsely populated, with the exception of the island of New Providence. Almost 250,000 people live on New Providence, the location of the nation’s capital city of Nassau. The remainder of the population is dispersed throughout the other islands. The largest concentrations are located on the islands of Grand Bahama, Abaco, Exuma, Andros, and Eleuthera.
The Bahamas experiences delightful temperatures year-round because the islands are surrounded by temperate and warm water. This makes it the perfect place for purchasing an island home or buying beachfront property for your year round residence.
A Little History
Home to the historic landfall of Christopher Columbus in 1492, The Bahamas holds a unique and permanent spot in the course of human movement across our planet. Located close to Florida and well-traveled shipping channels, these islands quickly caught the attention of explorers, settlers, pirates and traders. The Bahamas’ unique culture comes from centuries of merging African and Caribbean influences with those of their British colonists. These people shaped the colorful history of The Bahamas and made the country what it is today.
As a former British Colony the Bahamas, an English speaking country, attained its independence from Great Britain on July 10, 1973. The country remains a member of the British Commonwealth and has a strong heritage in democracy and free-market economics.
The Bahamas has comprehensive and modern infrastructure, particularly on the islands of New Providence, Grand Bahama, Abaco, and Eluethera where most of the population live. The islands offer a unique and varied lifestyle, from luxurious amenities to secluded private islands.
The Bahamian dollar is one of the most stable in the Caribbean with the Bahamian dollar pegged to the US dollar on a one-to-one basis.
Political stability is a hallmark of the parliamentary democracy that has existed in the Bahamas for nearly 300 years and conservative economic policies have provided economic stability. Public spending and foreign debt are under control and inflation is kept low. The Bahamian legal system is based on the English Common Law and Colonial legislation. Investing in The Bahamas
Investing in The Bahamas
The Bahamas remains the leading tourist destination in the Caribbean region. In 2019 The Bahamas welcomed 7.216 million visitor arrivals, the most ever for the country, and a 9 percent increase compared to 2018.
Several large hotels have completed expansion projects in Nassau/Paradise Island, and new airlines have started services to the Bahamas. Nearly half of the country’s GDP is derived from tourism, and tourism-related industry.
The Bahamas is today one of the world’s principal international financial centers. The country’s progressive legislation and regulatory structure, its highly skilled workforce, and its responsive government have attracted many of the world’s largest and most prestigious financial institutions. Convenient air transportation, modern infrastructure, including an excellent telecommunications system, all support efficient business operations.
The Bahamas offers a varied and attractive package to the potential investor: a stable democratic environment, relief from personal and corporate income taxes, timely repatriation of corporate profits, proximity to the United States with extensive air and communication links, a good pool of skilled professionals, and preferential access to major markets.
There is absolutely NO INCOME TAX and NO INHERITANCE TAX. There are also no taxes on capital gains, corporate earnings, sales or dividends. This tax freedom is available to everybody who resides here. There are also many investment incentives available to investors at all levels.
It's Easy
It's never been easier for a non-Bahamian to own a home here in The Bahamas. Simply register your property acquisition with the Bahamas Investments Board. There is no longer a need to obtain a government permit prior to purchase. Unless the property is larger than 5 acres, or is not a private residence, will a permit be required.
Permanent residents of the Bahamas and non-Bahamians who inherit property in the Bahamas need only register the acquisition with the Investment Board. Furthermore, a non-Bahamian who owns a home in the Bahamas may now obtain an annual Home Owner's Resident card from the Director of Immigration. The card authorizes the entry of the holder and his immediate dependent family as they wish.
