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The Bahamas Institute of Chartered Accountants (BICA) is a professional body that regulates the accountancy industry in the Bahamas. [1] In theory anyone approved by the relevant government ministry can act as an independent auditor, but in practice, all auditors are members of BICA.
An admission to practice law is acquired when a lawyer receives a license to practice law. In jurisdictions with two types of lawyer, as with barristers and solicitors, barristers must gain admission to the bar whereas for solicitors there are distinct practising certificates. Becoming a lawyer is a widely varied process around the world.
In terms of gross domestic product per capita, the Bahamas is one of the richest countries in the Americas (following the United States and Canada), with an economy based on tourism and finance. [1] Tourism alone provides an estimated 45% of the gross domestic product (GDP) and employs about half the Bahamian workforce.
The Bahamian economy is almost entirely dependent on tourism and financial services to generate foreign exchange earnings. The Gross Domestic Product (GDP) of The Bahamas is approximately $5.7 billion with tourism accounting for 50%, financial services nearly 20% and the balance spread among retail and wholesale trade, fishing, light manufacturing and agriculture. [9]
Taxation. Taxation in the Bahamas is collected by the Government of the Bahamas. The Bahamas are considered a tax haven given the lack of income tax, capital gains tax, inheritance tax or company tax. [1] Government tax revenue is instead derived from consumption, property and import taxes as well as licence fees. [2]
The Securities Commission of the Bahamas ( SCB ), formerly the Securities Board of the Bahamas, is an agency responsible for financial regulation of investment funds, securities, and capital markets in the Bahamas. [ 2][ 3] Among other responsibilities, it enforces the Financial and Corporate Service Providers Act, the Digital Assets and ...
This page was last edited on 9 February 2020, at 20:28 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike License 4.0; additional terms may apply.
Visa requirements for Bahamian citizens are administrative entry restrictions by the authorities of other states placed on citizens of The Bahamas.As of February 22nd 2024, Bahamian citizens have visa-free or visa on arrival access to 156 countries and territories, ranking the Bahamian passport 27th in terms of travel freedom according to the Henley Passport Index.
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