Administration of The Bahamas Investment Authority (BIA)
Executive Management of the Bahamas Investment Authority (BIA) is resident in the National Economic Council (NEC), headed by the Prime Minister and operational activities is the responsibility of The Bahamas Investment Authority (BIA) or the Investor’s ‘One-Stop-Shop.’
BAHAMAS INVESTMENT AUTHORITY
Office of the Prime Minister
Cecil Wallace-Whitfield Centre
Cable Beach P.O. Box CB-10980
Nassau, The Bahamas
P (242) 327-5970-4 F (242) 327-5907
Investment incentives under the following Acts include exemption from the payment of customs duties on building materials, equipment and approved raw materials; and exemption from real property taxes for periods up to twenty years:
- The Hotels Encouragement Act
- The Industries Encouragement Act
- The Agricultural Manufactories Act
- The Spirits and Beer Manufacturer Act
- The Export manufacturing Industries Encouragement Act
- The Free Trade Zone Act.
Note: Custom duty exemptions do not apply to personal consumables.
Investors may acquire publicly owned lands for approved developments on concessionary terms
Investors may acquire low cost space for lease for industrial enterprises Government will provide special training and retraining for Bahamian workers to ensure the continuing availability of a highly skilled labour force.
Preferential Trade Incentives
Business located in The Bahamas may benefit from the following preferential trade arrangements:
- The Lome Convention
- General system of Preference (GSP)
- Caribbean Basin Initiative.
To undergird the National Bahamas Investment Authority (BIA), the Government will provide:
- A politically stable environment conducive to private investment;
- An atmosphere where investments are safe and the expropriation of investment capital is not a considered option;
- 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 is guaranteed;
- A stable macroeconomic environment bolstered by a prudent fiscal policy, a stable exchange rate, flexible exchange control rules and free trade;
- An environment in which freedom from Capital Gains, Inheritance, Withholding, Profit Remittance, Corporate, Royalties, Sales, Personal Income, Dividends, Payroll and Interest Taxes is ensured;
- Essential public services, an adequately equipped police constabulary, modern health and education facilities and other social services;
- Dependable public utilities and essential public infrastructure such as roads, ports and airports.