Benefits (Incentives) Available to Investors in The Bahamas
An investor that is desirous of investing in The Bahamas by constructing and operation a hotel will qualify for the following:
* The right to Customs Duty Exemption
Exemption from the payment of customs duties in respect of all the required materials that is necessary for the construction, equipping and the furnishing of a new hotel in order for that facility to be open for business.
These benefits are also allowed for the renovating, re-equipping and the extension of an existing hotel operation or for one that did not come into existence under the Act.
*Right to Import Construction Plant
This concession extends the right to import the construction plant, which is inclusive of machinery, free of duty on a Customs bond, with the obligation to re-export it by a given date.
A ten-year exemption from Real Property Tax with a minimum taxation per bedroom of $20.00 beginning in the eleventh year until a twenty year period occurs starting from the date that the hotel was opened.
A twenty year exemption from direct taxation on hotel earnings is granted.
The same restrictions, regulations or conditions which are applied to one hotel will be applied to other hotels,this levels the playing field.
All matters regarding hotel the type of hotel and location must meet the requirements that has been established by The Bahamas Government.
For further inquiry please contact us at Evans Business Consulting Services at 242-676-3223 or by email at email@example.com. How To Obtain These Benefits will be the topic of our next blog.