About The Bahamas
The Commonwealth of The Bahamas is a coral archipelago of 700 islands covering an area of approximately 100,000 square miles extending from 50 miles off the east coast of Florida, and within 60 miles of the northern coast of Hispaniola. Only 29 of the islands of The Bahamas are permanently inhabited. The islands are recognized worldwide as a unique tourist and second home destination and a center for offshore financial services.
With an estimated population of just slightly more than 395,000 people and a land area of approximately 5,300 square miles, The Bahamas is relatively sparsely populated, with the exception of the island of New Providence. Over 200,000 people live on New Providence, the location of the nation’s capital city of Nassau. The remainder of the population is dispersed throughout the other islands. The largest concentrations are located on the islands of Grand Bahama, Abaco, Exuma, Andros, and Eleuthera.
Why The Bahamas
Located close to Florida and well-traveled shipping channels, The Islands of The Bahamas caught the attention of explorers, settlers, invaders and traders. The Bahamas’ unique culture comes from centuries of merging African and Caribbean influences with those of their British colonists. These people shaped the colorful history of The Bahamas and made the country what it is today.
As a former British Colony the Bahamas, an English speaking country, attained its independence from Great Britain on July 10 1973. The country remains a member of the British Commonwealth and has a strong heritage in democracy and free-market economics.
The Bahamas has comprehensive and modern infrastructure, particularly on the two major islands, New Providence and Grand Bahama, where most of the population lives. The islands offer a unique and varied lifestyle, from luxurious amenities to secluded private islands.
The currency is one of the most solid in the Caribbean with the Bahamian dollar pegged to the US dollar on a one-to-one basis.
Political stability is a hallmark of the parliamentary democracy that has existed in the Bahamas for nearly 300 years and prudent economic policies have provided economic stability. Public spending and foreign debt are under control and inflation is low. The Bahamian legal system is based on the English Common Law and Colonial legislation.
Investing in The Bahamas
The Bahamas remains the leading tourist destination in the Caribbean region. In 2019, The Bahamas welcomed 7.216 million visitor arrivals, the most ever for the country, and a 9 percent increase compared to 2018.
Several large hotels have completed expansion projects in Nassau/Paradise Island, and new airlines have started services to the Bahamas. Nearly half of the country’s GDP is derived from tourism, and tourism-related industry.
The Bahamas is today one of the world’s principal international financial centers. The country’s progressive legislation and regulatory structure, its highly skilled workforce, and its responsive government have attracted many of the world’s largest and most prestigious financial institutions. Convenient air transportation, modern infrastructure, including an excellent telecommunications system, all support efficient business operations.
The Bahamas offers a varied and attractive package to the potential investor: a stable democratic environment, relief from personal and corporate income taxes, timely repatriation of corporate profits, proximity to the United States with extensive air and communication links, a good pool of skilled professionals, and preferential access to major markets.
Learn more about Bahamas investment incentives here.
Schools in The Bahamas
Children begin primary school at the age of five, and after 6 years, they move to secondary education which lasts another five years.
While public education is freely available, many Bahamians and expats choose to send their children to one of the many private schools, including three international schools which offer the International Baccalaureate program:
- Lyford Cay International School, Nassau
- St. Andrew’s International School, Nassau
- Lucaya International School, Freeport
There are several other popular private schools in the Bahamas (e.g. Summit Academy, Queen’s College, and Windsor), the majority of which are faith schools. It is worth bearing in mind, however, that almost all of these schools are in Nassau.
Making Your Move
Looking to relocate to The Bahamas? We understand that moving abroad can be daunting, and it goes beyond simply finding a great home. Our team offers a complete set of relocation services, with over 70 years of experience in The Bahamas. We can help guide you through the process to ensure you are able to make a confident informed decision on everything from house-hunting, school search, financing requirements and visa assistance. Contact us today to get started.