Just east of the Florida coastline lies the beautiful Island Nations of The Bahamas - a coral archipelago scattered over 700 miles of sparkling turquiose waters with 700 Islands and 2,000 Cays and Rocks.

With only 29 islands inhabited by a significant number of people, the Bahamas has a population of over 270,000 people, shared mostly among the major islands (New Providence, Grand Bahama, Abaco, Andros, Bimini, Cat Island, Eleuthera, Exuma, and Long Island).

New Providence - home to the 330 year-old capital city of Nassau, this busy little island (7miles wide by 21 miles long) is home to over half of the total population, and houses the majority of the countries businesses and banks. With all the conveniences of a major international city, this island is the financial and industrial hub of the Caribbean.

The Bahamas is one of the most politically stable in the region, with an uninterrupted parliamentary democracy in operation for 275 years, and its own government in place since 1973 when independence from Great Britain was granted. A member of the commonwealth, the Bahamas still recognizes the British monarch as the head of state.

In the Caribbean region, the Bahamas is one of, if not the most technologically advanced countries, offering state-of-the-art communications systems, electrical supplies, and water works. The country's main industry is tourism, with over 60% of revenues coming from tourism related activities. The second driving force behind the economy is banking and other financial services, followed by agriculture and fisheries, light manufacturing, and retail and wholesale distributives.

A direct flight from New York to Nassau is only 2 1/2 hours, and from Toronto, 3 hours. Direct flights are also available from London, Paris, Frankfurt, Newark, Atlanta, Miami, Charlotte, Fort Lauderdale, Los Angeles, Orlando, Montreal, San Juan and Kingston, Jamaica. Once in New Providence, The Nassau International Airport is just 20 minutes from downtown Nassau and Paradise Island.

The Bahamian Dollar, an independent monetary unit, controlled by the Central Bank of The Bahamas, is on par with the US Dollar, which is readily accepted throughout the country.

Americans will need a passport or birth certificate to enter the country; most other foreign nationals are required to have a passport/visa. For more information, contact the Bahamian consulate in Miami at (305) 373-6295. There are no income, corporate, inheritance or capital gains taxes. The main form of taxation is import duties and government stamp taxes.

Purchasing Property in The Bahamas:

Committed to building an environment in which free trade and enterprise can flourish, the government of the Bahamas has strived to put in place policies that ensure fair play, equality, and a stable society in which all are afforded the opportunity to reach their maximum potential.

To support and encourage a friendly investment climate, the National Investment Policy has been designed to foster appropriate linkages with all sectors of the economy, particularly the tourism and financial services sectors, and to ensure that Bahamian and foreign investments will complement each other.

There are certain provisions that must be adhered to concerning the immigration policies in the Bahamas.

1. International Home Owners
Overseas investors may acquire up to five acres of residential property in The Bahamas without prior government approval. However, such acquisitions are required to be registered in accordance with the International Persons Landholding Act. Foreign homeowners are eligible for a 'Home Owners Residence Card', renewable annually for a small fee. This card will facilitate entry into The Bahamas and entitle the owner, his/her spouse and minor children to enter and remain in The Bahamas for the duration of the validity of the card. Application may be made to the Director of Immigration.

2. Annual or Permanent Residence
Accelerated consideration of applications for annual or permanent residence will be given to: major international investors; and owners of residences valued at $500,000 or more.

3. Work Permits
If setting up a business in The Bahamas, necessary work permits for key personnel will be granted. Businesses requiring permits for persons other than key personnel are encouraged to discuss these requests with The Bahamas Investment Authority in advance.

4. Areas Especially Targeted for Overseas Investors Touristic Resorts Upscale condominium, Time-share and Second Home Development Marinas Information and Data Processing Services Assembly Industries High-Tech Services Ship Repair and other services Light manufacturing for export Agro-Industries Food Processing Mariculture Banking and other Financial Services Captive Insurance Aircraft Services Pharmaceutical Manufacture Off-shore Medical Centres

NB. This list is not exhaustive and investors interested in areas not included above are encouraged to bring their interest to the attention of Bahamas Investment Authority. Please note that investments of less than $250,000 will not be considered.

5. Local Partners in Joint Ventures
International investors are encouraged to establish joint ventures with Bahamian partners. The choice of such Bahamian partners is at the absolute discretion of the investor.

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