The Commonwealth of The Bahamas is an archipelago of 700
islands extending over 500 miles into the Atlantic Ocean
from a point 50 miles off the East Coast of Florida. The
Bahamas has a population of 353,658 legal citizens who are
concentrated mainly on the major islands of New Providence
(where Nassau, the capital city, is located) and Grand
Bahama (where Freeport is located).
As an independent member of the
Commonwealth of Nations, The Bahamas observes parliamentary
democracy with regular elections. The Bahamian economy is
driven predominantly by tourism and financial services.
Tourism is the primary pillar of our economy, representing
approximately 60% Gross Domestic Product (GDP). Official
estimates place the financial services sector’s combined
contribution between 15 and 20 percent of The Bahamas’ Gross
Domestic Product.
Long-established as one of the foremost international financial
centers and a key operational base for many of the world's
most recognized and respected banking and financial
organizations, The Bahamas has preserved its crucial tax
neutrality advantage in the new financial architecture that
has emerged in the country. In the process, it has become an
even more attractive jurisdiction in which to do business.
The
Bahamas is one of the most developed financial centers in
the world. Products and services comprise banking, private
banking and trust services, investment fund administration,
capital markets, investment advisory services, accounting
and legal services, e-commerce, insurance, and corporate and
shipping registries.
Contributing to the country’s attractiveness as a preferred
financial and business destination is its regulatory
environment, its long-standing commitment to being a
responsible member of the international community and access
to a well trained human capital pool.