SIA Bill 2011
2011 Statement of Priorities
About The Bahamas

Our Vision

A vibrant, competitive financial services sector that has sound regulatory practices and policies that promote confidence.

Our Purpose

To contribute to the growth and development of a financial services sector that is vibrant and competitive.

The Commonwealth of The Bahamas is an archipelago of 700 islands extending over 500 miles into the Atlantic Ocean from a point 50 miles off the East Coast of Florida. The Bahamas has a population of 353,658 legal citizens who are concentrated mainly on the major islands of New Providence (where Nassau, the capital city, is located) and Grand Bahama (where Freeport is located).

As an independent member of the Commonwealth of Nations, The Bahamas observes parliamentary democracy with regular elections. The Bahamian economy is driven predominantly by tourism and financial services. Tourism is the primary pillar of our economy, representing approximately 60% Gross Domestic Product (GDP). Official estimates place the financial services sector’s combined contribution between 15 and 20 percent of The Bahamas’ Gross Domestic Product.

Long-established as one of the foremost international financial centers and a key operational base for many of the world's most recognized and respected banking and financial organizations, The Bahamas has preserved its crucial tax neutrality advantage in the new financial architecture that has emerged in the country. In the process, it has become an even more attractive jurisdiction in which to do business.

The Bahamas is one of the most developed financial centers in the world. Products and services comprise banking, private banking and trust services, investment fund administration, capital markets, investment advisory services, accounting and legal services, e-commerce, insurance, and corporate and shipping registries.

Contributing to the country’s attractiveness as a preferred financial and business destination is its regulatory environment, its long-standing commitment to being a responsible member of the international community and access to a well trained human capital pool

 

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