(242) 502-3400 Bahamas
(954) 858-5558 USA

Establishing Business

In order to establish a business owned by a foreign entity in The Bahamas, The Bahamas Investment Authority has outlined the requirements in this easy to follow form.

NAME

Provide name of the applicant, whether corporate or personal. For a corporate entity, it could be a proposed or reserved name.

ADDRESS

Include telephone and/or fax.

DESCRIPTION OF PROPOSAL

Provide a comprehensive executive summary of the project.

PRINCIPALS

List all of the principals in the venture (major beneficial owners), along with identifying particulars such as place and date of birth and passport or social security number for each individual.

PROPOSED LOCATION

Provide exact location venture will operate from in The Bahamas.

LAND REQUIREMENTS

If a request is being made for publicly owned land, please state the acreage and location. Applicants who wish to acquire privately held land must also apply for a permit to do so.

PROPOSED START-UP DATE

Indicate the maximum time for the commencement, and if possible, completion of the project.

MANAGEMENT/PERSONNEL REQUIREMENTS

State the number of work permits that may be required for key personnel, for administration and financial management.

CAPITAL INVESTMENT

Specify the total capital investment to be made in the project, and provide a breakdown of the items involved and an estimate for start-up costs.

Note: Minimum capital investment of B$250,000 for foreign investors.

EMPLOYMENT PROJECTION

Advise on the number of Bahamians to be employed in construction and/or operation of the project in the first year.

FINANCIAL ARRANGEMENTS

Provide proof of financial capability, minimally, a letter of credit from a financial institution or a net worth statement for each principal or verification of deposit of funds in a Bahamian bank.

ENVIRONMENTAL IMPACT

Indicate any possible harmful environmental effects and list the mitigating measures that would be employed to deal with them.

ECONOMIC IMPACT and

BUSINESS PLAN

Signify potential benefit to the national economy, including NIB revenues, utilities, possible entrepreneurial spin-off