Doing Business in Latin America and The Caribbean: The Bahamas

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Explore:  Business Development

The Commonwealth of The Bahamas is an archipelago spanning 100,000 square miles extending southeast from Florida to northern Hispaniola. The Bahamas has an estimated land area of 5,382 square miles made up of 700 islands and2,400 cays. There are 30 islands which are inhabited with an estimated population of just over 300,000.

GOVERNMENT -

The Bahamas is a constitutional, parliamentary democracy. As a fully independent member of the British Commonwealth of Nations, the nominal Head of State is Queen Elizabeth II, represented in The Bahamas by an appointed Governor General. The head of government is the Prime Minister. The 1973 Bahamian Constitution was enacted by a Parliament composed of the Senate and the House of Assembly.

ECONOMY -

The economy of The Bahamas is driven by tourism, international banking and other financial services. Retail and wholesale distributive trades, manufacturing, agriculture and fisheries are the other major sectors of the economy. The gross domestic product (GDP) of The Bahamas exceeds BSD3 billion, 60% of which comes from tourism-related activities. More than five million visitors are attracted annually to The Bahamas. Tourism directly or indirectly employs approximately more than 50% of the work force....

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Topics:  Business Development

Published In: Business Organization Updates, General Business Updates, Finance & Banking Updates, International Trade Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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