ABOUT THE BAHAMAS
The Bahamas is an internationally renowned tax haven with no capital gains or inheritance taxes. Holowesko Realty, and their associate law firm Holowesko Pyfrom Fletcher,
can assist you with investing in The Bahamas.
DEMOGRAPHICS AND EDUCATION
The Bahamas, a member of the British Commonwealth, is a 5,358 square mile archipelago of more than 700 islands and 2,400 cays. Ideally located in proximity to the world’s largest and most significant consumer markets of North, South and Central America, The Bahamas combines geographic advantage with business excellence to deliver true investment value. The Bahamas has one of the most highly educated populations in Western Hemisphere, boasting an adult literacy rate of more than 95 per cent and an English-speaking population of more than 300,000.
As much as 24 per cent of the National Budget is allocated to education, exemplifying the true definition of a country that is investing in its youth and its people.
This continuous investment in human capital means The Bahamas offers a large and growing pool of well qualified and highly educated Bahamian talent to the international investor. The country’s highly developed tourism and financial services industries benefit significantly from this pool of talent, as Bahamians combine with international management staff to create a resident expertise that is comparable to anywhere else in the world.
Holowesko Realty, and their associate law firm Holowesko Pyfrom Fletcher, are happy to assist you with investing in The Bahamas.
OVERVIEW AND STRUCTURE
OF THE GOVERNMENT
The Constitution of the Bahamas is based on the Westminster Model; Her Majesty Queen Elizabeth II, The Executive Branch, The Legislative Branch, and Judicial Branch.
As a member of the Commonwealth of Nations The Bahamas recognizes Her Majesty Queen Elizabeth II as Head of State. The Governor-General is Her Majesty’s representative in The Bahamas and constitutes a symbol of the nation’s unity.
The Cabinet constitutes the executive branch and has general direction and control of the Government of The Bahamas. It is necessary for the Cabinet to comprise at least nine Ministers inclusive of the Prime Minister and Attorney General.
Parliament constitutes the Legislative branch of The Bahamas, which consist of a Senate and a House of Assembly. Subject to the provisions of the Constitution, Parliament may make laws for the peace, order, and good government of The Bahamas.
Lynn Holowesko, partner in our associate law firm Holowesko Pyfrom Fletcher, is the immediate past President of the Senate.
Judicial Authority is vested in the Judicature which comprises the Supreme Court and the Court of Appeal with such jurisdiction, powers and authority as may be conferred on these Courts respectively by the Constitution or any other law.
BAHAMAS INVESTMENT AUTHORITY
The government’s proactive economic growth and development policies are guided by the Bahamas Investment Authority (BIA), established to reduce bureaucratic delays for domestic and international investors. Operating from the Office of the Prime Minister, the BIA has been designated a “one-stop shop” designed to simplify investing in The Bahamas. The BIA serves as the administrative arm of the National Economic Council and Investments Board.
Holowesko Realty, and their associate law firm Holowesko Pyfrom Fletcher, are happy to assist you with investing in The Bahamas, and with the completion and submission of all BIA documentation.