How to Start a Business in Bahamas, Important Steps

How to Start a Business in Bahamas, Important Steps

The Commonwealth of The Bahamas welcomes International Investors who wish to establish a business in The Bahamas. All non-Bahamians or Permanent Residents seeking to do business in The Bahamas must submit a Project Proposal to the Bahamas Investment Authority (BIA). Additionally, from time to time the Government of the Bahamas offers targeted investment incentives for particular types of projects. All non-Bahamians, Permanent Residents or Citizens seeking to access concession pursuant to the Government’s targeted investment incentive must also submit a Project Proposal to the Bahamas Invest

Getting Started

1. To submit a project proposal to the Bahamas Investment Authority, please contact the BIA at the telephone number or email address shown below.
2. BIA offices are open Monday to Friday, 9 am to 4 pm, except for public holidays.
3. The deadline for submission is 30 days from the date of publication of the project proposal. For example, the deadline would be 30 days after the announcement is made.
4. In the case of urgent projects, projects may be submitted within the period set out in paragraph (c) of Article 10 above and before the deadline.
5. Documents needed to submit your project proposal to the Bahamas Investment Authority, BIA, include the following: a. The Project’s name b. A brief description of the project c. A description of the asset(s) to be developed d.

Businesses in the Bahamas

On the internet there are many great investment opportunities all over the world, in fact this is a major feature on many websites. But if you really want to start a business in Bahamas and get as much as possible out of it, the following should help: If you really want to start a business in Bahamas and get as much as possible out of it, the following should help: Acquire a business license on the first day of your legal status in the country Priority location access Most of the time, if you are interested in opening an office, to begin selling products and services, or you are in need of industrial equipment, it’s best to do it in advance of when your first employee joins the company. Most businesses often start with a few employees first.

Conclusion

Posting of ads on online job boards to hire employees is always in high demand. Here are the steps to follow in order to hire an employee in the Bahamas:

Hire the best.

When hiring employees for the job you want to do, always hire the best of the best. This doesn’t just mean that your employees must possess the best of their ability; it means they must possess the best of what you require.

How do you go about hiring the best possible employees?

Choose whom you can trust. You can get along without hiring the most talented people if you hire people who lack knowledge and/or experience. To hire a great employee, do your research, and then seek out that person. This is true even in situations where the type of job is not readily apparent. Check references.

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