Digitisation of our government and financial services complements both our ease of doing business initiatives and our digital Bahamas framework. As a first step in our ease of doing business initiative, we would have moved to a new online interface for start-up companies registering their business for the first time in The Bahamas.
– K. Peter Turnquest, Deputy Prime Minister and Minister of Finance of the Bahamas
The Bahamas has declared its intention to not only invest in blockchain technology, infrastructure, and regulation, but to create a national digital currency as well.
From this foundation, it can more effectively provide private and public services – including business licenses, passports, digital IDs, and national insurance – on an accessible-to-all and secure platform with a single point of data entry.
Thriving in a fast-moving, interconnected economy.
Start-ups and established businesses looking to grow and scale within a rapidly evolving global economy need a market that is established enough to be credible, yet small enough to be responsive and allow for quick change and implementation. The Bahamas and its 400,000 residents is the ideal size.
Why the Bahamas?
- Politically and economically stable, with a reputation for stability and a parliamentary democracy
- Do business in an Eastern time zone
- Do business in English, the official language of the Bahamas
- Strong financial sector with over 250 licensed banks and trust companies
- Strong telecommunications infrastructure
- Friendly tax environment that includes a 20 year tax exemption for foreign corporations and their shareholders
- Pending Digital Asset and Registered Exchange Bill (DARE)
The Bahamas has a long-standing reputation as a premier business destination and a world-leading centre for offshore company formation services. With the proper legislation that the DARE bill provides surrounding digital token regulations (security and utility tokens), the Bahamas is an ideal location to establish an offshore, or e-offshore, business.
About the DARE Bill:
The Securities Commission of the Bahamas (SCB) has recently released a draft of the Digital Assets and Registered Exchanges Bill (DARE Bill), for consultation. The purpose of this bill will be to create a new regulatory framework for the issuance, as well as the sale of token currencies, and for its intermediary service providers and its sellers in the Caribbean archipelago.
The Bahamas is ideally situated to become a leading digital paradise. Learn more