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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 ...
Features. Characteristics of an IBC vary by jurisdiction, but will usually include: Chart of an offshore company structure. exemption from local corporate taxation and stamp duty, provided that the company engages in no local business (annual agent's fees and company registration taxes are still payable, which are normally a few hundred U.S. dollars per year)
Fees for businesses licenses vary. The fee for a Special Event license such as a marathon is $209. The license for a movie theater costs $1,079 per year, for a grocery store $289 per year, for a beauty shop $78 per year. (2003 schedule of fees, current as of March 2007) A Project Management Firm does not require a Basic Business License, nor ...
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.
The Bahamas Monetary Authority took over the issuance of paper money in 1968, issuing the same denominations. The Central Bank of the Bahamas was established on 1 June 1974 and took over note issuance from that point forward. Its first issue of notes did not include the 1 ⁄ 2 and 3 dollar denominations but these were reintroduced in 1984.
The new legislation eliminated the "Bahamas Belonger" status, and those who had derived that status by marriage. The program required a dual application to the Ministry of National Security and the Immigration Board, payment of a $5,000 fee, and evidence of investment in a business or real estate.
Bahamian citizenship. Expiration. 10 years (16 and over) 5 years (Under 16) Cost. B$ 50.00 Adult Passport B$ 25.00 Children’s Passport. The Bahamian passport is issued to citizens of the Bahamas for international travel. As of March 2019, Bahamian citizens had visa-free or visa on arrival access to 154 countries and territories, ranking the ...