Generalizes on the best strategy to enter the market, e..g., visiting the country; importance of relationships to finding a good partner; use of agents.
Last Published: 6/9/2016

  • Relationship – based business: Relationships are critical in The Bahamas and will factor in most aspects of business. Many Americans are familiar with The Bahamas and most trade between the two countries is supported by longstanding business relationships. Major retailers and wholesalers in The Bahamas in some instances have family and business relationships that spans decades. For new entrants a market visit is recommended to fully assess the market, its potential and to interview prospective agents or distributors.  Investors are advised to use the Embassy and other resources to vet potential local partners. 

  • Local agent/distributor or franchise: The government actively encourages local ownership and/or local equity participation. Agents are typically used and the right local partner can simplify business and provide some level of protection to the investor.

  • Expect delays: American companies have experienced delays and a slow approvals process for foreign direct investment and related work permits. 

  • Bahamas Investment Authority – a “One Stop Shop”: The Bahamas Investment Authority (BIA) is the first point of contact for all investors in The Bahamas and administers all applications to the National Economic Council (NEC) and the Investments Board.  Both the BIA and NEC are comprised of members of the Cabinet and meet on a weekly basis to approve investment proposals of varying size. The BIA website provides useful information regarding submissions for approval:  www.bahamas.gov.bs/bia.

  • Real Estate Investments: Investors are required to apply for approval from the National Economic Council for investments in commercial real estate and will be expected to include both environmental and economic impact assessments with their application. Investors buying undeveloped property with two or more adjoining acres are also required to apply for permission from BIA.  Investors are advised to seek the services of a local attorney in the preparation of their application and to secure title insurance for any purchase of real estate.  

  • Stress job-creation projects:  Proposals for foreign direct investment that commit to creating economic opportunities and the transfer of skills and technology are more favorably viewed during the approvals process.

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