Bahamians only!
Research, research, research.
I was wondering about business and doing business in The Bahamas. There is still a lot of thought on getting investors in but for Bahamians I came across this list from "tripod" of businesses that are reserved for Bahamians only.
These are:
Effective January 1, 1994, the government of The Bahamas introduced new legislation to facilitate the purchase of land in The Bahamas by non-Bahamians. This Legislation is cited as "The International Persons Landholding Act, 1993." The important provisions of this Act are as follows.
It provides that a non Bahamian (other than a permanent resident or a non Bahamian acquiring land or an interest in land under a devise or by inheritance) may purchase a condominium, or property for use as a single family dwelling or for the construction of such a dwelling without the need of a permit provided the property is no more than 5 acres in size. The purchaser must, however, apply to the Secretary upon the receipt of the respective fee specified in the schedule shall register the purchase or acquisition in the Register and shall issue a certificate to the applicant.
A permanent resident may purchase land without a permit but must also register the purchase on acquisition as above.
No permit is required by a non Bahamian if land or an interest in land is acquired by reason of device or inheritance but the acquisition must also be registered.
A non Bahamian (other than a permanent resident or non Bahamian acquiring land or an interest in land under a devise or inheritance) who wishes to acquire five or more contiguous acres of land in The Bahamas must apply for a permit from the Board on the requisite form stating the intended use for the land. Otherwise any such acquisition shall be null and void in the absence of such permit.
The Act exempts banks and trust companies and insurance companies who acquire interests in land under a mortgage from the requirement to obtain a permit.
The Act exempts banks and trust companies and insurance companies who acquire interests in land under a mortgage from the requirement to obtain a permit. Again, the acquisition need only be registered.
The Act provides that certain business leases be registered with the Board where the lease is for 21 years or more. Otherwise, the lease is defective.
The Act provides that the stamp duty payable by a non Bahamian is the same as in the case of a Bahamian.
The Act also enables a non-Bahamian who owns and maintains a home in The Bahamas to obtain an annual home owner resident card upon application to the Director of Immigration and payment of the specified fee in the Schedule. This card shall entitle the applicant, his spouse and minor children (if any) to enter and remain in The Bahamas for the duration of the card unless their entry is otherwise barred under the Immigration laws.
I was wondering about business and doing business in The Bahamas. There is still a lot of thought on getting investors in but for Bahamians I came across this list from "tripod" of businesses that are reserved for Bahamians only.
These are:
Wholesale and Retail Operations.
Commission agencies engaged in the import/export/trade.
Real estate and domestic property management agencies.
Domestic advertising and public relations firms.
Nightclubs and restaurants, except specialty, gourmet and ethnic restaurants, restaurants operating in a hotel, resort complex or tourist attraction.
Security services.
Domestic distribution of building supplies.
Construction companies, except for special structures for which international expertise is required.
Personal cosmetic/beauty establishment.
Shallow water scale-fish, crustacea, mollusks and sponge-fishing operations.
Auto and appliance service operations and Public transportation.
Commission agencies engaged in the import/export/trade.
Real estate and domestic property management agencies.
Domestic advertising and public relations firms.
Nightclubs and restaurants, except specialty, gourmet and ethnic restaurants, restaurants operating in a hotel, resort complex or tourist attraction.
Security services.
Domestic distribution of building supplies.
Construction companies, except for special structures for which international expertise is required.
Personal cosmetic/beauty establishment.
Shallow water scale-fish, crustacea, mollusks and sponge-fishing operations.
Auto and appliance service operations and Public transportation.
International Investors may engage in the wholesale distribution of any product they produce locally.
Current Real Estate Legislation, Stamp Duties and Taxes.
In 1994 it became much easier for non-Bahamians to purchase real estate in The Bahamas.
Current Real Estate Legislation, Stamp Duties and Taxes.
In 1994 it became much easier for non-Bahamians to purchase real estate in The Bahamas.
Effective January 1, 1994, the government of The Bahamas introduced new legislation to facilitate the purchase of land in The Bahamas by non-Bahamians. This Legislation is cited as "The International Persons Landholding Act, 1993." The important provisions of this Act are as follows.
It provides that a non Bahamian (other than a permanent resident or a non Bahamian acquiring land or an interest in land under a devise or by inheritance) may purchase a condominium, or property for use as a single family dwelling or for the construction of such a dwelling without the need of a permit provided the property is no more than 5 acres in size. The purchaser must, however, apply to the Secretary upon the receipt of the respective fee specified in the schedule shall register the purchase or acquisition in the Register and shall issue a certificate to the applicant.
A permanent resident may purchase land without a permit but must also register the purchase on acquisition as above.
No permit is required by a non Bahamian if land or an interest in land is acquired by reason of device or inheritance but the acquisition must also be registered.
A non Bahamian (other than a permanent resident or non Bahamian acquiring land or an interest in land under a devise or inheritance) who wishes to acquire five or more contiguous acres of land in The Bahamas must apply for a permit from the Board on the requisite form stating the intended use for the land. Otherwise any such acquisition shall be null and void in the absence of such permit.
The Act exempts banks and trust companies and insurance companies who acquire interests in land under a mortgage from the requirement to obtain a permit.
The Act exempts banks and trust companies and insurance companies who acquire interests in land under a mortgage from the requirement to obtain a permit. Again, the acquisition need only be registered.
The Act provides that certain business leases be registered with the Board where the lease is for 21 years or more. Otherwise, the lease is defective.
The Act provides that the stamp duty payable by a non Bahamian is the same as in the case of a Bahamian.
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