ESTABLISHING A BUSINESS
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.
The country’s mature financial services industry, established infrastructure, progressive government, tax neutral environment and luxury lifestyle all have been cultivated very carefully to position it as a centre for international business.
The Commonwealth of The Bahamas welcomes International Investors who wish to establish a business in The Bahamas. All non-Bahamians or Permanent Residents seeking to do business in The Bahamas must submit a Project Proposal to the Bahamas Investment Authority (BIA).
Additionally, from time to time, the Government of The Bahamas offers targeted investment incentives for particular types of projects.
All non-Bahamians, Permanent Residents or Citizens seeking to access concession pursuant to the Government’s targeted investment incentive must also submit a Project Proposal to the Bahamas Investment Authority (BIA).
There are no requirements for Bahamians to qualify for this service. Non-Bahamians must meet a minimum capital investment of BS$500,000 and the proposed investment must not be in an area reserved for 100% Bahamian participation.
Interested persons must:
- be Non-Bahamian.
- have a minimum investment of BS$500,000.00
- be interested in an area that isn't reserved for 100% Bahamian participation
- Submit a Project Proposal, along with supporting documents to the Bahamas Investment Authority.
- The BIA will process the application and submit the same to the National Economic Council for a determination.
- Depending on the nature of the proposed business activity, the relevant Government Ministry or Agency would be consulted for input:
- Ministry of the Environment.
- Ministry of Works and Transport.
- Ministry of Housing.
- Respective Family Island Local Government.
- Once a determination has been made, the BIA will communicate to the applicant in writing.
- Once approval is obtained, the BIA also coordinates with other Government agencies and facilitates the implementation of projects.
A Project Proposal, following the BIA Project Proposal Guidelines
- Copies of Passport
- Bank reference
- Character reference
- Police record
- Copy of application for Crown Land (if applicable)
- Environmental Impact Assessment
- Proof of financial capability
A determination is communicated within 60 days following the submission of a completed Project Proposal.
There is no deadline.
There are no fees associated with this service.