With its northern isles located less than fifty miles off the shores of the southern coast of the United States, and its southern most cays lying within sight of Cuba, The Bahamas is the natural gateway for all goods and services moving both North to South and East to West along the world’s commercial shipping highways. International investors will not only encounter an environment which boasts a mature, tried and tested financial services sector and the most beautiful tourist destinations in the world, they will also find a jurisdiction teaming with investment opportunities which are no longer limited to real estate and resort development.
Bostwick and Bostwick Partners from left to right: Ms Janet L.R. Bostwick (aka Lisa), Mr J. Henry Bostwick, QC, The Hon. Mrs Janet G. Bostwick, Ms Kelley Bostwick and Mr John H. Bostwick, II
During this global recession, The Bahamas not only attracted significant investments, its government was also able to undertake widespread infrastructure improvements. Over the past four years those achievements and projects include: Dredging the Capital’s harbor to accommodate the world’s largest cruise ship; building a new port for establishment of a container facility on New Providence – where the capital city of Nassau is located; developing new highways throughout New Providence; building a new U.S. terminal at the international airport on New Providence; and, the privatization of the telecommunications company.
In most of these projects the Government partnered with international entities while ensuring the participation of local contractors.
There continues to be significant investment in real estate development. The world-class Bahamar and Albany development projects are well under way on the western end of New Providence. The Albany project is a gated golf and mega-yachting community targeted at the superrich. Bahamar is being developed in partnership with a consortium from China and with a budget of US$2.5 billion it promises to rival the greatest resort destinations in the world. The simultaneous pursuit of both projects essentially on one island (which is also home to the world- renowned Atlantis Resort and Casino) during a global recession is a clear vote of confidence in The Bahamas as a premier resort and real estate development destination. With the recent addition of direct flights between Nassau and Panama the tourism and real estate development sectors are certain to continue to thrive. Investors should be mindful of a keen interest in expanding the tourism product into other areas including historical tourism, sports and adventure tourism, medical tourism and eco-tourism.
Opportunities exist to form joint-venture partnerships with local entrepreneurs in agricultural enterprises targeting the production of food for local consumption; and for export of high-end organic farm products, and food processing and distribution. Our year-round tropical climate facilitates production and supply to Northern markets even out of season.
In Freeport, Grand Bahama investors can take advantage of the bonded duty free trade zone complete with the largest container port in the region, ship repair services, oil storage and refining, bonded storage and manufacturing areas.
The Bahamas is an international financial centre of choice for many of the world’s largest and most prestigious financial institutions with 250 banks and trust companies from 25 countries operating here. In addition to modern company laws, legislation provides for Foundations, Private Purpose and Charitable Trusts, Professional, SMART and Standard Funds and Captive, Life and Re-Insurance.
The Government of The Bahamas has created a safe, secure and investment friendly environment. An educated workforce, low taxes, highly qualified legal and financial professionals, political stability, the ability to work in your own business for approved investments over US$500,000.00 where employment for Bahamians has been created and the ability to repatriate profits, make The Bahamas an ideal investment destination.
