Grand Bahama Island

Over the past 50 years, Freeport, Grand Bahama has become the prototype for “Free Trade Zone” models across the region. Today, it is the premiere special economic zone in the region and the industrial capital of The Bahamas.

AN INVESTORS PARADISE, JUST 68 MILES OFF THE COAST OF FLORIDA

Grand Bahama is one of the northern most islands of The Bahamas, and the closest major Island to the United States, lying just 68 miles (90km) off the U.S. East Coast. Grand Bahama is the fourth largest island in The Bahamas Island chain of approximately 700 Islands and cays. The island is approximately 96 miles (154 km) long west to east and 17 miles (27 km) at its widest point north to south.

Until half a century ago, and despite growth in other areas of the Bahamas, the pine forests and empty beaches of Grand Bahama remained undeveloped and relatively unsettled. Then, perhaps while standing alone on the beach watching the shimmering blue seas on one of those balmy Bahamas afternoons, Wallace Groves – an American investor – realized the Island’s potential as a major shipping hub and industrial business centre.

Grand Bahama’s location on major shipping routes made it an ideal location for a maritime service centre and industrial hub. To realize his dream, Wallace Groves signed an agreement with the Bahamian government, which granted his company – the Grand Bahama Port Authority (GBPA) – a tract of land to be developed as a “free port.” The agreement required the GBPA to develop a harbor, industrial areas, and tourism facilities. In return, the government provided exemption from taxes and import and export duties.

Today, Grand Bahama, and its city centre – Freeport – have grown into a dynamic and stable economic powerhouse. Guaranteed long-term tax concessions and benefits for financial, commercial, and industrial enterprises within this unique economic trade zone, offer advantages that are far superior to anywhere else in the region. The Island’s pristine natural beauty, luxury living in modern and well-planned communities, international accessibility by sea and air, excellent telecommunications, and vibrant business and commercial sectors, make it the strategic choice for investment opportunities.

QUICK FACTS

Grand Bahama is a premium destination for investors, and the data fully supports our business case. We are a leader in the region on par with key global competitors. Investors in Grand Bahama enjoy unmatched access to a wide range of economic concessions, benefits, and infrastructure, including:

  • Structured exemption from taxes on real and personal property, capital gains, earnings, stamp duty, excise, and export taxes.
  • Duty exemptions from all capital development and supplies for business operations.
  • Duty-free housing for business licensees and their employees.
  • A 95% literacy rate.

 

  • Minimum wage of $5.25/hour.
  • More than 400 miles of US-quality roads.
  • The deepest, largest, and most strategically located international shipping port in the region.
  • A streamlined and efficient business licensing process.
  • Reliable and stable utilities
  • Abundant supply of fresh water