The Bahamian Government is dedicated to the ongoing progression of a modern economic environment where free enterprise can succeed. The Government will serve as the regulator and facilitator of the economic growth of The Bahamas, concentrating on the ideals of transparency and fair play in business.
The Bahamas Investment Authority (BIA) in the Office of the Prime Minister is assigned with the operational management of the Government’s investment regulations. The BIA ensures that Bahamian and foreign investments complement each other and operate harmoniously, and that the various sectors of the economy, such as the tourism industry and financial services industry, are connected. The BIA also encourages sustainable and environmentally friendly harvesting of Bahamian natural resources and serves to maintain overall economic growth and development of The Bahamas.
There are a variety of sectors of the economy that are specifically aimed for foreign investment. These include, but are not limited to, tourist resorts, upscale condominiums, marinas and timeshares, high-tech services, manufacturing, agricultural industries and financial services. Investments of less than $250,000 will not be considered by the BIA. International investors are also motivated to partner with Bahamian partners.
Customs duty exemptions on developing materials, equipment and approved raw materials, as well as an exemption from the real property taxes for 20 years may be obtained under the Hotels Encouragement Act, the Industries Encouragement Act, the Agricultural Manufactories Act, the Spirits and Beer Manufacturer Act, the Export Manufacturing Industries Encouragement Act and the Free Trade Zone Act.
There are also a number of industries reserved for Bahamian investment. These include, but are not limited to, wholesale and retail operations, real estate, newspapers and magazine, advertising and public relations agencies and public transportation.