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5 Things You Did Not Know About the Bahamas

5 Things You Did Not Know About the Bahamas

The Bahamas is one of the most exotic locations surrounded by miles of powdery white sanding beaches and turquoise waters....

The Roots Of Bahamas

The Roots Of Bahamas

The Bahamas is a place that is on top of everyone. When you think of the attractive location, this is...

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5 Things You Did Not Know About the Bahamas

Bahamas

The Bahamas is one of the most exotic locations surrounded by miles of powdery white sanding beaches and turquoise waters. It is a perfect place to relax under the shade of palm trees and spend a quality summer vacation. However, as an explorer, you should look out for the attractions that the Bahamas has to offer. Do not settle down for the travel packages that most tourism agencies provide and find time to explore local areas on your own. Here are the five things you can do in the Bahamas.

Wine Cellar in Nassau

The Graycliff’s wine cellar is the third-larget in the world with over 250,000 bottles from 400 winemakers from 15 different countries. You can find the rarest and most expensive wines in the world, including an 1865 Chateau Lafite and 1727 Rudesheimer Apostelwein. You can also find today’s best wine bottles with over a quarter-million options to choose from.

Barrier reef

Barrier reef in the Bahamas

Andros Barrier Reef in the Bahamas is the third-largest barrier reef on the planet. Stretches for more than 190 miles in length, this barrier reef is the third-largest living organism on the planet. It is right on the edge of the Tongue of the Ocean trench, parallel to the east coast of the island of Andros. The reef stretches downwards to 6,000 feet and making it unique. You can find exotic fishes of all kinds, making it a perfect destination for divers and snorkelers.

Clear waters

One of the reasons the Bahamas is popular is its crystal clear turquoise waters. You can almost see the bottom of the sea from the surface. Up to 200 feet is underwater is visible to naked eyes from the surface. This is why Bahamas waters are most popular for snorkeling like nowhere else. The shores are pretty spectacular, too, making it a perfect beachside destination for summer.

700 islands of the Bahamas

There are 700 islands in the Bahamas, with 30 inhabited islands. The total land area of the Bahamas is over 5,382 square miles. There are plenty of islands for you to explore that will offer you different resorts, unique recipes, and different kinds of activities for water and land. As you travel around the local streets, you can learn about the local culture and people’s lifestyles.

Film spot

The Bahamas is one of the popular destinations for Hollywood to shoot natural beauty. There are over 30 films that are made in the Bahamas. You can still find the spots and props used in the movies at Nassau Paradise Island. Movies like Pirates of the Caribbean truly bring out the natural beauty of the Bahamas islands. You can check out movies like Thunderball, Into the Deep, Casino Royale, and more to get a glimpse of what to expect in the Bahamas when you reach there.

Real Estate Tax Guide For The Bahamas

Real Estate

The Bahamas is a country that minces no words when it presents itself as the haven for foreign investments. From the properties to the exquisite islands, the country is an excellent location and offers generous investing options. In addition to that, the government of the country offers favorable tax laws and access to financial institutions to boost investors. However, property taxes can matter and are impacted by various factors that need to be kept in mind when buying the property.

Conveyances Tax:

Conveyances Tax:

If the total value of the property is under $100,000, then the amount of VAT that is levied will be 2.5%. However, if that’s above the amount, then a VAT of 10% will need to be paid. In addition to that, the tax will be equally shared between the buyer and the sellers, or whatever agreement that they agree to. Also, the owner is exempted on the first $250,000. However, if the value is between $250,000 to $500,000, then the rate will be ¾ of the percent. If the value is above $500,000, then it will be 1%.

Commercial Property:

If the market value doesn’t exceed the total of $500,000, then the tax of 1% per annum will be levied. However, if it exceeds the said amount, then a total of 2% will be charged. It’s equally important to mention that the property that will be owned by the citizens on the Family Islands will be exempted from the duty. The property that is defined as commercial farmland will offer the tax exemption.

Commercial Property:

If the property is also used for charitable or public service will also be exempted from the tax, however, it will need to be a Bahamas property. In addition to that, all the property located in Freeport will also be exempted from taxation. It’s equally important to mention that a tax of 10% will be levied during the appraisal.
Besides that, if the owners of the rental homes wish to rent their properties, then they will need to register the properties. They must remain in their properties for six months or a year to get the owner-occupied status in the country.


There are also residency options for those who have properties that value at $750,000. They will need to declare that they wish to live permanently in the country. The residency cards will have to be renewed annually, however; they must substantiate their financial support in writing. Those who are owning property in the Bahamas will be eligible for the Annual Residency cards. In the case of the Visas, there is a certain relaxation for those coming from the UK, US, and Canada given that the stay doesn’t exceed more than three weeks. In case of the US citizens, the visit mustn’t exceed 8 months. The permits will be required to reside, work, or indulge in business in the country. With all that mentioned, the country’s taxation laws are favorable for operating and investing in the business.

The Roots Of Bahamas

Bahamas

The Bahamas is a place that is on top of everyone. When you think of the attractive location, this is what comes to mind. However, there is more to the place than the sandy beaches, and pristine waters. It’s history that will fascinate you more. From the early inhabitants to the current system, everything in the country will appeal to every visitor. In addition to that, the scientists have some interesting insights to share about the country. One of the most intriguing questions is why does the island even exist? This means, how did it come to existence, and how the early inhabitation started? Leaving apart the latter, the scientist believes that they have found the reason for this question, and they know the answer. Surprisingly, they believe that the Africa Sahara Desert made the Bahamas possible.

Bahamas

In a study, the researchers suggest by data that the island was created over the years due to the dust carried from the Sahara Desert. This included the northern expanse of Africa. However, the research says that the dust isn’t what made the island, but something called Cyanobacteria. This is a microbe, and as the bacteria in the formation grow, they form calcium carbonate that became the building block of the islands.

In its infancy, it started to settle down for more than 100 million years and formed a shelf underwater. This is known as the Great Bahama Bank, and the island is the uppermost of the shelf. So, in a sense, the dust from Africa became a crucial part of the formation of the islands. It’s equally important to mention that the cyanobacteria will need the necessary ingredients or the nutrients to grow.

Bahamas

This is surprising that the Great Bahama where it sits is poor in nutrients, and it quite remained a mystery where these were coming from. However, they collected the samples and realized that the samples had a high level of iron that is used to form calcium carbonate. In addition to that, the dust that comes from the Sahara Desert has high levels of iron. Providing further insights, the researchers suggest that this dust settles on the island, goes in the water as well as in the ocean. This is what enhances the microbes, and allows the production of calcium carbonate.

However, the idea has been flaunted in the air and many of the experts believe that it will need further testing. But the fact that the research sheds some light on the insights of the formation will act as a gateway to further findings. In addition to that, there have been various researches about the origins as well as the first settlers. In yet another study, the researchers say that the early settler in the region dated back to the 8th century. In addition to that, the research says that the people from the neighbouring regions never crossed over the island. Though these researches have offered insights into the formation of the islands and the people, there is a lot that needs to be done. s

Why are the Bahamas Looking Towards Blockchain?

Why are the Bahamas Looking Towards Blockchain?

Bahamas government is taking various steps to boost the local jobs and the economy. Since the country is known for its excellence among the Caribbean countries, it is looking forward to being the silicon of the Caribbean. In this regard, the country aims to make the nation a technology hub and integrate blockchain. Whether that’s the domestic or the international investors, it is looking forwards to make the country the blockchain hub in the region.

Technology is one of the best to come in the modern age. The country views blockchain as the technology of the future and as it has already been adopted by various technology companies, a sizeable investment will not go to waste. In addition to that, the government intends to make technology another factor of the economy, and help it to diversify it. It will not just bring innovation, but create more jobs, and assist the government to lessen the unemployment rates in the country.

Why are the Bahamas Looking Towards Blockchain?

Since the new technology will need new innovative workers and technicians, the young people who leave the country to seek jobs elsewhere can find them at home. This will generate more income for the region, and a sense of security for the young people.

In this regard, the reports are that Freeport can be this hub of the new technology. It’s the second largest of the country islands, which also has a bustling business environment. In addition to that, the country’s favorable laws in taxation, and income tax are some of the best reasons that will appeal to the investors. In this case, the preference will be given to those who choose the Bahamas as their center for their data centers and allow the operation from there. Though the consensus hasn’t been reached on various things, it appears as the country is on the fast-track mode.

In addition to that, the Bahamas will also diversify and make lenient its various legislator framework to facilitate the industry smoothly. In matters of the Visa, the country will offer a fast-track visa process that makes it more convenient, and easier for those coming to invest in the region. In addition to that, the government of the country will also be sponsoring the students that are interested in studying the IT sector. The efforts are already in place to promote blockchain-based companies. Besides that, it will also serve as a bridge to introduce the country’s digital currency. Since this is the technology that will be used to transact the digital currency.

Why are the Bahamas Looking Towards Blockchain?

The government intends to make sure that the service costs can be reduced to offer the Bahamians the best banking experience. Since the population is scattered across the 21 islands, banking services become scarce. So, in this case, the adoption of digital currency and the blockchain will be a boon. In addition to that, the reduction of cash is likely to reduce money laundering as well as other illegal financing activities.

Why The Bahamas Is A Great Destination For Visiting

Great Destination

There’s a lot that one can do in the Bahamas. There are hundreds of islands that need to be mapped for a perfect trip. However, budgetary expenses are something that must be kept in mind while planning. So, in this case, the shopper will do better if they plan the trip thoroughly. So, there’s no need to decide anything in a rush, but with caution, and preparation. You will never run out of enjoyment. When it comes to the weather, it is known for a lot of diversity. Where there is the sunshine, there’s also the rain, but there’s nothing to be concerned about as the country offers you various things to enjoy.

Why The Bahamas Is A Great Destination For Visiting

There are duty-free goods or markets that one can check out. In addition to that, what’s best than to check or sit by the pool if one is in a resort. There are also cultural activities that are happening in the town. There are also spas, cold pools, and also many resorts that are the best to rest. The country will keep you on your toes, and you will find an excuse to rest. In addition to that, seafood is something that has a unique reputation. Enjoy and relish the best seafood in the country with a lot of varieties. Whether you are looking for a classic or something with a twist, Bahamas has everything that you will love. Across the 700 islands, there’s a lot to explore and have fun. Every island will offer you something unique, and different. There are beaches and foods that you won’t be disappointed with.

Besides that, you can also hire boats to take you across the islands. That alone makes it more exciting. However, if you’re more into finding time to reflect, then the miles of beach in the Bahamas are just for you. You have plenty of islands to explore, and there is a lot to explore for inner peace. You should make the smaller island your preference as they have a low number of people, and you can find the space that you’re looking for. There’s also a great opportunity to see the aquatic life. You can take a guided tour in the country that will offer you an excellent chance to witness some of the exquisite sea creatures. There are dolphins, sea turtles, and sharks for a start. There are a lot of ways to reach the country, however, you can also take the direct way. But whatever you decide, there’s no stopping the fun.

Why The Bahamas Is A Great Destination For Visiting

It’s equally important to mention that you must understand the country’s pandemic rules. Since the Bahamas is battling with the pandemic, and it’s necessary to scan people, some restrictions have been put into place. You will need to make sure that you are vaccinated, or at least have the negative RT-PCR results with you. This will be instrumental in obtaining the visa from the embassy.

New Customs Fee On Hold, Ministry Of Finance

New Customs Fee On Hold, Ministry Of Finance

In a recent set of developments regarding the customs, the government announced yesterday that there will be a temporary revocation of the Bahamas Customs Department processing fee. The fee was approved in the 2021/2022 budget. The developments come there has been an allegation of misconduct, and the processing fee is extracted from the inaccurate practices.

In further explanation, the government said that there will be a processing fee levied on the goods when they enter the country. In addition to that, the fee was put in place to support the customs department, however, with the unfair practicing approach, it has been levied, and altered.

New Customs Fee On Hold, Ministry Of Finance

The representative further stated that the fee will be levied on the individuals that declare the taxable goods on the C17 and C18 forms as well as the baggage declarations. Commenting on the errors that have happened in the past, Comptroller of Customs Dr. Geannine Moss said that the fee that has been charged to the people due to unfair means is being rectified.

He further said that the fee is being collected by the customs department and then deposited in the treasury. “We are mindful that some have been charged unfairly, and we will make the provisions for the rectification. The representative further said that while the fee was being lifted, they were making sure of the training, and its proper implementation. In addition to that, those coming into the country can declare their goods online, and pay for them. In this regard, the ministry of finance had introduced the Exempt App that will allow the people to declare and pay for the fees electronically.

The fee will either be charged electronically or at the manual entry point. However, the earlier lack of information led to some people being unfairly charged. In this regard, the ministry had made sure to take the steps to rectify the errors, and made sure that the new approach is better. The electronic app will allow the users to declare, and pay the amount without any hassle. Further in reaction to the app, the ministry sought information about the app, they said “The app was approved and proposed by the Customs Department New Providence”. Though the previous usage of the processing fee threw the public into a pickle, this time the ministry seeks to make it more convenient. In this regard, proper training will be provided, and educating the public will be the priority.

In addition to that, electronic payment makes the payment more appealing as the people entering the country can download the app, and make the payment. However, the payment can also be accepted at the manual entry point. Ministry seeks to make the process as smooth as possible, so in this case, as the fee is being suspended, the administration will be investing in educating and training the staff as well as the public regarding the fees, and how to approach it in the best possible way to avoid any embarrassing situation.

Travel Restrictions That You Will Experience In Bahamas

Travel Restrictions Experience In Bahamas

The Bahamas is one of the exquisite tourist destinations, however, the current pandemic has wreaked havoc on the current inflow of the tourist. Though the country is accessible to international tourists, there have been certain limitations in the country to flatten the curve.

In a UN report, the Bahamas was one of the countries that were warned about the drastic impacts of the pandemic on the economy. The report went far as warning that there can be economic chaos in the country. However, this has been avoided by the government that made sure that there were innovative steps to assess the situation. In this regard, the unemployment benefits to the citizens have been a boon to the population. This was lauded in a World Bank report that placed it on the top of the Caribbean nations.

Travel Restrictions Experience In Bahamas

The nation is open for the touristy crowd, but there are various kinds of restrictions that have been placed. In matters of crowded places, the visits are required to maintain the necessary protocols to ensure that the pandemic is kept in check. Various countries have advised their citizens to maintain utmost caution while visiting any country, and in this case, the government of Bahamas has also offered assistance and information.

The tourists are advised to be vaccinated so that they can be exempted from the on-arrival tests. However, in case of no vaccination, the RT-PCR negative results can be used to get a Health Visa from the Embassy.
The visitors are required to go through the test three days before arrival in the country. In addition to that, the country has launched the Clean and Pristine certification program that entails hygiene, sanitation, and health monitoring at various public spaces such as checkpoints, as well as hotels. These also include cleaning and social distancing protocols. The face masks are required, and in absence of that, the violation may attract a fine of $250, or jail time.

Travel Restrictions Experience In Bahamas

Though the inflow in the hotels has decreased due to the pandemic, the administration has made sure that the testing facilities are available in the hotels as well. In this regard, if a tourist is sating for more than four nights, they will be required to go through Covid testing on the fifth day.

Travel Restrictions Experience In Bahamas

The results will be delivered in 60, or fewer minutes. In addition to that, there is a limit of people entering the shops, or in a public space. Furthermore, those entering the country can declare the goods that they’re bringing electronically, and pay for them. However, the payments can also be made at the manual checkpoints. The development in the public parks and the covid-centric response of the government will certainly be a boon in handling the issue at hand. As the world is opening up, the country is set to receive tourists, given that the nation generates more than half of its GDP from tourism.

Education Minister Brushes Aside Union Strikes

Education Minister

Commenting on the operation of the schools in the country, the education minister Jeff Floyd has said that he wasn’t concerned about the comments made by the Bahamas Union of Teachers President Belinda Wilson who said that they will take an action on the inability of the schools to operate, or if there is a delay in the increments.

The comments came after the reports of the BUT president sending the voice notes to teachers inquiring about the operation, and readiness of the schools. In this regard, the minister said that they are yet to receive a reply from the Union regarding the assessment due to the Covid situation in the country. The minister said that the schools are set to open from August 23 for teachers, councillors, as well as other staff. He further stated that he has received nothing in writing to comment on the issue.

“I have been informed of the meeting that is expected to take place. I’m waiting for the details” she further added. In addition to that, the minister said that the mismanagement, and the lack of communication between the education officials, and the union has further led to the confusion of the operation of the process. It has led the teachers to be apprehensive of the return to the schools as far as Covid is concerned.

Education Minister

Commenting on the reaction of the staff when the schools aren’t ready, the minister advised the teachers to not enter the schools, but remain outside the school, maintaining the social distancing just in case the schools aren’t ready. In further relief regarding the increments, Wilson said that she has received the details about the increments and the payments will be made this month. She further said that if the demands aren’t met, then they must be ready with the industrial action regarding it.

However, Mr. Lloyd stated that he wasn’t concerned regarding the comments and that the schools will be operating from this month. The schools on the island will start the offline classes whereas the others will be having the blended learning in place due to the Covid-19 situation, he further added. Pointing towards the strategic plan of 2020/21, Lloyd said that the same plan remains in place for this year as well.

He further commented on the operation of the schools on the island and said that face-to-face learning will take place on the southern island.

Education Minister

“Islands, where there is a spike of Covid, will be required to go through the blended learning. I have said it, and I don’t understand why it’s not understandable, but I understand, and we have been in communication with the authorities” He added. authorities.”

He further said that the health authorities have taken precautionary measures to ensure the operation of the schools. To avoid the loss to the students, the minister said “We have had the programs for the summer for the previous year students, and same instructions will be in place as well. The prescriptions have been instructed that you must maintain the social distancing, mask up, 12Sq Ft. distance. There’s nothing new in how we are about to conduct the upcoming school year”

Health Minister’s Assistant And Driver Give Back The Payments

Health Minister’s Assistant

NASSAU, BAHAMAS — The honorarium payments to the personal assistant and the driver of the health minister had created an uproar, however, the Ministry of Health Reward Wells has confirmed that the pair has returned the money at his request. He further rebuked the social media saying that the pair were issued $1,158.40, and not $5000 that had been doing rounds on the social media. In addition to that, he also stated that he didn’t receive an honorarium, and a selected committed decided who got the payments.

“Today, I have asked both my driver and personal assistant to return the payment that was given to them by the government,” he said. “My brothers and sisters, I would like to say that I made no recommendation on the honorariums” he added.

Furthering commenting on the separate committee that oversaw the selection he said

Health Minister’s Assistant

“The names of the persons that received an honorarium were recommended by a separate committee”
“The committee had to make the decisions on the criteria that have been set for those who volunteered for the March 19 to June 18, 2020, and for those who later joined the fight in the ministry of health”.

In addition to that, he further said that he will ask the cabinet to get the list reconsidered, He will take the list of the people who were nominated to receive the honorariums for the cabinet to review. These developments come as the healthcare workers who were left out from the list of the honorariums called in sick on Monday that affected healthcare services across the institutions.

It’s to mention that the government had approved honorarium and death benefits of $1,040,600. Out of these funds, $400,000 were approved as death benefits for the representatives of the workers who passed in the line of duty and $640,600 who volunteered in the first wave of Covid. In addition to that, Wells said that those who joined the fight later were also to be compensated. In this regard, the government had approved an additional $3Million in the 2021-22 budget to cover 1700 healthcare workers.

The minister further said that the government distributed $200,000 in death benefit to the families of Nurse Sherrilyn Charlton-Bain and Marion Burrows-McKinney to assist their families and honor their courageous work in the field. Commenting on the issue, the minister said,
“Once the legal formalities have been done, the government of Bahamas will be issuing two more cheques to the two more families that are remaining”.

He further commented on the payments being dispersing. As of August 3, according to the minister, the payments began to 308 doctors, 644 nurses, 111 emergency medical services staff, and 669 non-clinical staff. This also includes laboratory technicians, clerical, transport, administrative, security, and other staff. The minister in further appreciation thanked all the frontline and non-front line workers for their contribution and assistance in helping to fight the virus. The comments of the health minister taking the names to review come as many workers left out are calling sick to protest.

Know About Buying Property In The Bahamas

Know About Buying Property In The Bahamas

Working in the Bahamas is something that has no replacements. The sandy beaches and the exquisite islands will appeal to anyone. However, when it comes to the property, there are a lot of factors that need to be understood. Investing in any country needs thorough research, and when it comes to the Bahamas, it has more than enough opportunities for you to invest in a lot of sectors. The country attracts millions of tourists in a single year, and this continues to rise. In addition to that, the policies of the country are favourable to the investors, and they have access to financial institutions as well. The country offers benefits to the investors in terms of taxation laws and is one of the factors that has led to its investing popularity.

In the case of the rentals of the properties, there are two kinds; common and short-term. This will cover the holiday as well as the vacation. For a start, the tenant will be required to pay the security deposit, the first-month advance, and the last months. However, the terms can be negotiated between the tenant and the owner under mutual terms. There are no government regulations, and the agreement is more pro-tenancy. In the case of the tenancy in sufferance, the landlord can have the police called, and that doesn’t even require the court order.

International Persons Landholding Act

Know About Buying Property In The Bahamas

For foreigners who are looking forwards to invest in the country as well as rent out their property, they will need to register their property with the Bahamas Investment Authority. It will include various kinds of fees that will be required to pay.

The application fee is $25, the application for a permit is $25, and you can get the permit for $500. However, there is a variety of fees for the certification of registration. For lesser than 50k, or equal, you will need to pay $50. If that’s between $50k – 101, then a fee of $75. More than that will have $100. The category of the permit will determine the fees that will be levied and required to pay.

In addition to that, the homes that are owned by the foreigners will need to apply for a permit to operate on a rental basis. Some taxes will be levied, and they are as follows:

If the property is between $250K and 500k, then a tax of 0.75, however, if the market value is lesser than $250k, it will be exempted. Properties that are above $500k, will need to pay 1%. In addition to that, an additional 10% of the hotel guest tax will be collected from the tenants of each room.

Know About Buying Property In The Bahamas

Taxes when you are purchasing a home:

• Whether the property is being bought or sold, stamp tax, as well as value added tax, will need to be paid. This is as follows:
• On Real Estate: 2.5% Stamp Tax.
• If the transaction is over $100,000: 7.5%
• 7.5% will also be charged in services including appraisals, commissions, and other kinds of mandatory legal fees.

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