The Bahamas Country Profile
Not only is The Bahamas a major hub for the shipping industry, based on centuries of seafaring tradition, it is also a very popular tourist destination not to mention its highly influential financial services industry. The combination of these three sectors puts The Bahamas in a unique position within the global economy.
Furthermore, the legislative and judicial background against which the Bahamas Register operates is closely modelled on that of the United Kingdom and is therefore familiar to owners, lawyers, bankers and other professionals involved in international shipping.
Since independence in 1973, The Bahamas has made huge strides in all aspects of its economy, education and cultural life. Economically and politically, the country enjoys a stability and maturity beyond its years and because successive governments have recognised the value of inward investment, in terms of new businesses, new jobs and a strong economy, The Bahamas is a very business friendly nation.
Small though it is, The Bahamas has been enormously successful in making a big mark on the world’s economic stage. The Government is firmly behind the country’s growing maritime industry. Indeed maritime affairs could soon rival both the tourism and financial services sectors, the original mainstays of the Bahamian economy. This, together with the country’s absence of income tax and corporation tax means that the Bahamas Register sits very comfortably alongside a wide range of other offshore activities.