Image

Bahamas

The wealthiest state in the Caribbean, the Bahamas’ GDP per capita is fourth highest in the Americas.

A stable, developing country, the Bahamas has little industry, and few natural resources other than golden beaches and a sunny climate. It’s no surprise, then, that tourism is big business – around 3 million tourists visit the country every year – 80% of whom hail from the USA and Canada. Tourism accounts for around 60% of GDP and employs half the Bahamian workforce.

The Bahamas has no income tax, corporate tax, wealth tax or capital gains tax. Financial and business services account for another 35% of national GDP – with tens of thousands of IBC’s registered in the country.

The government of the Bahamas is actively seeking to promote e-commerce as a ‘second pillar’ of the nation’s economy.

Agriculture and manufacturing account for approximately 10% of GDP. Government incentives have had little effect, and neither sector has shown signs of growth in recent years.

With offices in Freeport and Nassau, HLB’s Bahamian partners and staff offers excellent services to local and international clients.

Find our offices

Featured insights

Latest insights, case studies and news from across the network
Filter By Filter By

The impact of Wayfair

What does South Dakota v. Wayfair 5-4 decision mean for internet and mail order retailers, consumers and US state tax regulators? HLB's International Tax Webinar...

Image
Get in touch
Whatever your question our global team will point you in the right direction
Start the conversation
Image

Sign up for HLB insights newsletters