Many global companies and investors are a part of Grand Bahama’s diverse business and residential communities.
The Grand Bahama Port Authority and The Grand Bahama Development Company, private holdings that over-see industry, development planning, and licensing within the free trade-inspired bonded island areas negotiated via a long-term lease in the 1950s (The Hawksbill Creek Trade Agreement) has built an impressive array of industries and laid the groundwork for future growth.
Grand Bahama Harbour boasts one of the largest deep water transshipment container ports in the world. On the drawing boards, with plenty of room for expansion at both the port and the Grand Bahama International Airport, is an Air/Sea Business hub that would provide millions of square feet of warehouse and office spaces, allowing companies to take advantage of a container port that can handle the largest ships in the world, alongside an airport that can handle the largest planes in the world, all in a tax-free, duty-free environment.
The Bahamas has become a very favorable target for international investment. It has established generous legal incentives to attract foreign investors and has an outstanding infrastructure for commercial and industrial activity, offering highly-skilled workforce.
There is a large professional community of accountants, international bankers, trustees, and investment specialists. The incentives for foreign investment are particularly attractive to the finance industry, insurance, manufacturing, shipping, import & export trade, and of course, tourism development.
Incentives for International business investment include:
Freedom from taxation – One of the most attractive aspects of investing in Grand Bahama is the tax-free status for income. There are no taxes on capital gains, corporate earnings, personal income, sales, inheritance, or dividends. The tax exemption is available to all resident corporations, partnerships individuals and trusts.
Economic and monetary stability – The stability of the economy thanks to the solid value of the Bahamian dollar, which is equal to the US dollar
Free repatriation of profits – The Bahamas has no restriction on current account transactions and there are no restrictions on the repatriation of profits.
Facilitated incorporation and registration – The International Business Companies Act of 1989 and the Companies Act of 1992 have made it incredibly easy to establish a commercial presence in the Bahamas
Flexible immigration policy ? Accelerated consideration for annual or permanent residence is given to major investors and to owners of residences with a value of $500,000 or more.
Yacht owners also find both value and professional expertise in docking and annual maintenance services in a local branch of Bradford Marine. The proximity to the United States, amazing fishing and cruising waters, and amenity-rich dockage, makes Grand Bahama a favorite of boaters and ocean lovers the world over.