About the Bahamas

Starting 55 miles off the coast of South Florida and stretching as far south as Inagua,just 60 miles from Cuba, Haiti and the Dominican Republic, The Bahamas is a coral archipelago of 700 islands, 29 of which are inhabited, and over 2,000 rocks and cays.

With a population of some 320,000 people, most of whom live on the major islands (New Providence, Grand Bahama, Eleuthera, Abaco, Exuma, Long Island, Inagua, Cat Island, Bimini and Andros), and with an adult literacy rate of 95%, The Bahamas has a capable and adaptable work force.

The Bahamas, an English speaking country which gained its independence from Britain on July 10, 1973, is one of the most politically stable countries; a parliamentary democracy has operated without interruption for 275 years.

The Bahamas has comprehensive and modern infrastructure, particularly on the two major islands, New Providence and Grand Bahama, where most of the population live. There is a reliable and adequate supply of Electricity and water. Telecommunications services and facilities in The Bahamas are state-of-the-art, with direct international links provided through a 100% digital switching system.

The economy of The Bahamas is driven by tourism and international banking and other financial services. Retail and wholesale distributive trades, manufacturing, agriculture and fisheries are the other major sectors of the economy. The Gross Domestic Product (GDP) of The Bahamas exceeds $6 billion, 60% of which comes from tourism related activities. The per capita income of the country is approximately $20,000 per annum, one of the highest in the Caribbean region.

The Bahamas is an independent monetary entity. The Bahamian dollar is on par with the U.S. dollar.

There are no income, inheritance, capital gains or corporate taxes in The Bahamas.