This is one of the very first questions that you need to answer when looking at investing anywhere in the world.
At Future Properties & Investments we recognize that there are a number of questions that you may have about our country and why you should invest here versus other places. We have tried to answer some of these under the section “About Grand Bahama” which is found on our home page.
In addition, we draw your attention to the following:
Location, Location, Location
Based on our closeness to North America, only 55 miles away, coupled with 700 islands to choose from, with fantastic properties in numerous islands, gives us one of the best locations in the world especially for the second home buyer.
Simply put, The Bahamas has a great climate and is a tropical paradise.
Freedom from taxes
The Bahamas is an investment-friendly environment. This means The Bahamas Government actually encourages foreign investors to their shores. With this in mind, in 1994, The Bahamas introduced a National Investment Policy (see below) to give support to private investors and to provide a legal environment where you’d secure freedom from capital gains, inheritance, profit remittance, corporate, royalty, personal income, dividends, payroll and interest taxes.
Stable government and economy
The Bahamas has had a stable and peaceful democracy. Since receiving our independence in 1973, our tourism, banking, insurance and other industries have experienced significant growth.
The Bahamian dollar (B$) is on par with the US dollar (US$) and used interchangeably throughout the Bahamas.
The Bahamas encourages investors by allowing exemption from the payment of custom duties on certain construction materials, equipment and approved raw materials. Additionally, there is a waiver of real property taxes on certain investments for periods up to 20 years.
The Bahamas Government also gives accelerated consideration to applications for annual or permanent residency by major international investors and owners of residences valued in excess of $500,000.
National Investment Policy
In 1994, the government introduced a National Investment Policy to support an investment-friendly climate and foster economic growth and development of The Bahamas. An abridged version of the policy is outlined below. This is by no means a complete outline of the policy nor of the many investment incentives in the Bahamas and Freeport (For additional information please contact our offices):
The Investment Environment
To support the National Investment Policy, the Government will provide:
1. A politically stable environment conducive to private investment.
2. An atmosphere where investments are safe and the expropriation of investment capital is not considered.
3. A legal environment based on a long tradition of parliamentary democracy, the rule of constitutional and statute laws and where security of life and personal property are guaranteed.
4. A stable macroeconomic environment bolstered by a prudent fiscal policy, a stable exchange rate, flexible exchange control rules and free trade.
5. An environment in which freedom from Capital Gains, Inheritance, Withholding, Profit Remittance, Corporate, Royalties, Sales, Personal Income, Dividends, Payroll and Interest taxes is ensured.
6. Essential public services, a well equipped police constabulary, modern health and education facilities and other social services.
7. Dependable public utilities.
8. Essential public infrastructure, such as roads, ports and airports.
International Financial Centre
The Government is also committed to enhancing the image of The Bahamas as an international financial centre. To this end the Government will:
1. Maintain The Bahamas as a leading financial services centre.
2. Monitor all developments in the international financial markets and amend any rules, regulations or legislation that would preserve and enhance the competitiveness of the financial services sector of the Bahamian economy.
3. Ensure the operation of a clean financial centre with specific rules and regulations to prevent the laundering of criminally derived assets.
4. Support The Central Bank of The Bahamas in its commitment to bank supervision and promoting high standards of conduct and sound banking practices.
5. Support the self-regulatory measures of the Association of International Bank and Trust Companies (AIBT), particularly, the established code of conduct for bank and trust companies.
6. Continue enforcement of our bank secrecy laws.