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The Bahamas Institute of Chartered Accountants (BICA) is a professional body that regulates the accountancy industry in the Bahamas. In theory anyone approved by the relevant government ministry can act as an independent auditor, but in practice, all auditors are members of BICA.
Business license. Business licenses are permits issued by government agencies that allow individuals or companies to conduct business within the government's geographical jurisdiction. It is the authorization to start a business issued by the local government. [1] A single jurisdiction often requires multiple licenses that are issued by ...
Visa exemption. Nationals of the following countries and territories can visit the Bahamas for 3 months without a visa unless otherwise stated: [1] [2] [3] 1 – 8 months for citizens of Belgium, Denmark, Greece, Italy, Luxembourg, the Netherlands, 3 months for other citizens. 2 - 8 months.
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.
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 economy of the Bahamas is dependent upon tourism and offshore banking. The Bahamas is the richest country in the West Indies and is ranked 14th in North America for nominal GDP. [8] It is a stable, developing nation in the Lucayan Archipelago, with a population of 391,232 (2016). Steady growth in tourism receipts and a boom in construction ...
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 ...
v. t. e. The Bahamas has a strong bilateral relationship with the United Kingdom, represented by a High Commissioner in London. The Bahamas also associates closely with other nations of the Caribbean Community (CARICOM). The Bahamas became a member of the Organization of American States (OAS) in 1956 and the United Nations (UN) in 1973.
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