The Bahamas is an archipelago paradise of 700 islands extending over 500 miles into the Atlantic Ocean from a point 50 miles off the east coast of Florida.

The Bahamas’ English-speaking population of over 300,000, concentrated mainly on the major islands of New Providence (where Nassau, the capital city is located) and Grand Bahama, has an adult literacy rate of 95% and an average per capita income of over $15,000, one of the highest in the region. A parliamentary democracy for more than two and one-half centuries, The Bahamas has continued to enjoy political and social stability since its independence from Britain in 1973.

The Bahamas’ well-developed economy is driven largely by tourism, which accounts for approximately 60% of the nation’s gross domestic product (GDP), and a rapidly expanding financial services industry contributing 20% of the GDP. The balance of economic output comes from retail and wholesale trade, fishing, light manufacturing and agriculture. The Bahamas has no income, inheritance, capital gains or corporate tax. Revenue is raised largely from customs duties, property tax and stamp duties. Its currency is maintained at par with the U.S. dollar.