Planning to invest your well earned money in The Bahamas? We have put together a series of Bahamian legislative acts allowing incentives and concessions to both local and international investors interested in taking advantage of the concessions and other incentives offered by the Bahamas.

HOTELS ENCOURAGEMENT ACT

This is an Act to encourage the construction of hotels in The Bahamas by providing for the exemption of customs duties and emergency taxes and certain other concessions and for the exemption of such hotels from certain taxation, and to relieve existing hotels from certain taxation.

The following conditions are necessary to qualify for concessions:

• A minimum of 10 hotel rooms in New Providence, Paradise Island, and Freeport, Grand Bahama and four hotels in the Family Islands;
• Common reception and common eating areas to accommodate 50% of maximum occupancy;
• Existing hotels with 50 rooms and over desiring to rehabilitate, remodel, refurbish, re-equip or extend may apply for customs duties exemptions at a reduced rate of 10% on materials and equipment.

Please note that Non-Bahamian investors must follow National Investment Policy guidelines.

Customs Duty Exemptions include the following:

• Materials, equipment and furnishings for construction, renovations, refurbishment as listed in regulations;
•  Construction plants for a specific period;
• Reduced rate of 10% for existing hotels of 50 rooms or more.

Real Property Tax Exemptions:

• First 10 years – Free;
• 11th to 20th year – $20.00 per bedroom per annum;
• Up to 10 additional years at $250.00 per bedroom in New Providence, Paradise Island, and Freeport, Grand Bahama and;
• Up to $100.00 per bedroom per annum in the Family Islands.

Stamp Tax Exemptions:

By the Order of the Minister, Family Islands hotel development projects may be exempted for stamp tax on earnings for the period of 20 years.

	Mario L. McCartney is the Founder and Principal of LEX JUSTIS, a boutique law firm providing Corporate, Private Client, and Traditional legal services in the Commonwealth of The Bahamas. Mr. McCartney is also the present editor and main contributor of firm’s blog site and welcomes all opinions and comments to his articles.
For further information on all legal services provided by Mr. McCartney please visit the LEX JUSTIS website @ www.lexjustis.com or email him at mmccartney@lexjustis.com, mario.l.mccartney@gmail.com.

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Planning to invest your well earned money in The Bahamas? We have put together a series of Bahamian legislative acts allowing incentives and concessions to both local and international investors interested in taking advantage of the concessions and other incentives offered by the Bahamas.

THE INDUSTRIES ENCOURAGEMENT ACT

This is an Act to encourage the establishment and development of industries and for matters connected therewith.

Customs Duties Concessions:

• Approved manufacturers of approved products may import any machinery or raw material not protected and any scheduled article necessary for the factory.
• Export tax exempt for statutory period of 15 years.

Real Property Tax Concessions:

• Factory premises for 15 years from date of production.

License Fee Exemptions:

• Statutory period of 15 years.

Exemption on Taxes for Earnings:

• Exemption from income tax for a statutory period of 15 years.

	Mario L. McCartney is the Founder and Principal of LEX JUSTIS, a boutique law firm providing Corporate, Private Client, and Traditional legal services in the Commonwealth of The Bahamas. Mr. McCartney is also the present editor and main contributor of firm’s blog site and welcomes all opinions and comments to his articles.
For further information on all legal services provided by Mr. McCartney please visit the LEX JUSTIS website @ www.lexjustis.com or email him at mmccartney@lexjustis.com, mario.l.mccartney@gmail.com.

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Planning to invest your well earned money in The Bahamas? We have put together a series of Bahamian legislative acts allowing incentives and concessions to both local and international investors interested in taking advantage of the concessions and other incentives offered by the Bahamas.

THE EXPORT MANUFACTURING INDUSTRIES ENCOURAGEMENT ACT

 This is an Act to encourage the establishment and development of export manufacturing industries and for matters connected therewith.

 Custom Duties Exemptions:

• Approved manufacturers of approved products may import any machinery or raw material not protected and any scheduled article necessary for the factory;
• Export tax exempt for a statutory period of 25 years;

Real Property Tax Exemptions:

• Factory premises for 25 years from  the date of production.

License Fee Exemptions:

• Annual registration fees on market value of factory, plant and machinery (exceeding 20 million – $300,000.00; less than $20 million but above $5 million – $175,000.00);

Exemptions on Taxes of Earnings:

•  Exemption from income tax for a statutory period of 25  years.

	Mario L. McCartney is the Founder and Principal of LEX JUSTIS, a boutique law firm providing Corporate, Private Client, and Traditional legal services in the Commonwealth of The Bahamas. Mr. McCartney is also the present editor and main contributor of firm’s blog site and welcomes all opinions and comments to his articles.
For further information on all legal services provided by Mr. McCartney please visit the LEX JUSTIS website @ www.lexjustis.com or email him at mmccartney@lexjustis.com, mario.l.mccartney@gmail.com.

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Planning to invest your well earned money in The Bahamas? We have put together a series of Bahamian legislative acts allowing incentives and concessions to both local and international investors interested in taking advantage of the concessions and other incentives offered by the Bahamas.

 TRANSFER TAX (STAMP ACT AMENDMENT)

Allows exemption to Bahamians who are first –time homeowners on the payment of stamp tax on lot and home valued up to $250,000.00

 THE SPIRIT AND BEER MANUFACTURER ACT

This act provides duty free import of raw materials and equipment for spirit and beer manufacturers.

 REAL PROPERTY TAX ACT

On undeveloped property non – Bahamians pay real property tax, Bahamians do not.

 CASINO CONCESSIONS

Under Head of Agreement (HOA) developers are granted partial exemptions on the payment of annual license fees and casino win taxes.

	Mario L. McCartney is the Founder and Principal of LEX JUSTIS, a boutique law firm providing Corporate, Private Client, and Traditional legal services in the Commonwealth of The Bahamas. Mr. McCartney is also the present editor and main contributor of firm’s blog site and welcomes all opinions and comments to his articles.
For further information on all legal services provided by Mr. McCartney please visit the LEX JUSTIS website @ www.lexjustis.com or email him at mmccartney@lexjustis.com, mario.l.mccartney@gmail.com.

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Planning to invest your well earned money in The Bahamas? We have put together a series of Bahamian legislative acts allowing incentives and concessions to both local and international investors interested in taking advantage of the concessions and other incentives offered by the Bahamas.

 THE TARIFF ACT (Items 1, 8 & 10)

Items 1,8, and 10 of the Fourth Schedule of the Tariffs Act allow for the customs duties exemptions on specified raw materials, supplies and equipment fir agriculture, floriculture, horticulture, fisheries, forestry, cottage and light industries and commercial printing. Each of the items under the Act has a schedule that outlines all of the raw materials that would be granted duty exemptions.

The following conditions are necessary to qualify for concessions:

• Item 8 is available to Bahamian investors only.

Customs Duties Exemptions:

• Raw materials, supplies, and equipment as outlines in relevant scheduled. 
• A reduced rate of 10% for registered businesses on materials, supplies and equipment not on scheduled list.

  	Mario L. McCartney is the Founder and Principal of LEX JUSTIS, a boutique law firm providing Corporate, Private Client, and Traditional legal services in the Commonwealth of The Bahamas. Mr. McCartney is also the present editor and main contributor of firm’s blog site and welcomes all opinions and comments to his articles.
  For further information on all legal services provided by Mr. McCartney please visit the LEX JUSTIS website @ www.lexjustis.com or email him at mmccartney@lexjustis.com, mario.l.mccartney@gmail.com.

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Planning to invest your well earned money in The Bahamas? We have put together a series of Bahamian legislative acts allowing incentives and concessions to both local and international investors interested in taking advantage of the concessions and other incentives offered by the Bahamas.

THE BAHAMAS FREE TRADE ZONES ACT

This is an Act providing for the establishment and operation of free industrial and commercial zones within the Bahamas.

Custom Duties Exemptions:

• Designated areas in which zones may be established for the purpose of commercial and industrial activity managed by BAIC.

 Real Property Tax Exemption:

• Exemption for all goods and items brought into the zone by licenses undertaking, except for consumable stores.

 Licensing Fees Exemptions:

• The holder of a license shall be entitled to establish and engage in the undertaking without having to obtain any additional licenses or permits.
• No taxes to be levied upon any property, machinery or goods for use or disposal elsewhere in The Bahamas.

 Stamp Tax Exemptions:

• No taxes to be levied upon any property, machinery or goods for use or disposal elsewhere in The Bahamas.

 Exemptions on Taxes of Earnings:

• No taxes other than National Insurance dues, shall be levied against the earnings of persons employed in any undertaking.

	Mario L. McCartney is the Founder and Principal of LEX JUSTIS, a boutique law firm providing Corporate, Private Client, and Traditional legal services in the Commonwealth of The Bahamas. Mr. McCartney is also the present editor and main contributor of firm’s blog site and welcomes all opinions and comments to his articles.
For further information on all legal services provided by Mr. McCartney please visit the LEX JUSTIS website @ www.lexjustis.com or email him at mmccartney@lexjustis.com, mario.l.mccartney@gmail.com.

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Planning to invest your well earned money in The Bahamas? We have put together a series of Bahamian legislative acts allowing incentives and concessions to both local and international investors interested in taking advantage of the concessions and other incentives offered by the Bahamas.

 THE AGRICULTURAL MANUFACTURERS ACT

This is an Act to encourage the establishment and development of agricultural products.

Custom Duties Exemptions:

Registered agricultural factories may import machinery, tools, fixtures, and supplies used in processing agricultural, marine, floricultural and horticultural products and materials for building and equipping a factory.

	Mario L. McCartney is the Founder and Principal of LEX JUSTIS, a boutique law firm providing Corporate, Private Client, and Traditional legal services in the Commonwealth of The Bahamas. Mr. McCartney is also the present editor and main contributor of firm’s blog site and welcomes all opinions and comments to his articles.
For further information on all legal services provided by Mr. McCartney please visit the LEX JUSTIS website @ www.lexjustis.com or email him at mmccartney@lexjustis.com, mario.l.mccartney@gmail.com.

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Planning to invest your well earned money in The Bahamas? We have put together a series of Bahamian legislative acts allowing incentives and concessions to both local and international investors interested in taking advantage of the concessions and other incentives offered by the Bahamas.

 THE BAHAMAS VACATION PLAN AND TIMESHARING ACT

This is an Act to provide for the creation, regulation and management of timesharing and vacation plans, and for other connected purposes. This is presently under review and subject to change.

 The following conditions are necessary to qualify for concessions:

• Non – Bahamian investors must follow National Investment Policy guidelines;
• Time share projects must comprise of at least 50 units in New Providence and 25 units in the Family Islands;
• An application for a license must be made.

Custom Duties Exemptions:

Building equipment and equipment for construction only.

	Mario L. McCartney is the Founder and Principal of LEX JUSTIS, a boutique law firm providing Corporate, Private Client, and Traditional legal services in the Commonwealth of The Bahamas. Mr. McCartney is also the present editor and main contributor of firm’s blog site and welcomes all opinions and comments to his articles.
For further information on all legal services provided by Mr. McCartney please visit the LEX JUSTIS website @ www.lexjustis.com or email him at mmccartney@lexjustis.com, mario.l.mccartney@gmail.com.

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