60 YEARS OF DEVELOPMENT & ECONOMIC GROWTH
The Grand Bahama Port Authority (GBPA) continues to help distinguish Grand Bahama by shaping the island’s economic development strategies. In Freeport, international investors enjoy unique tax advantages and operate within an efficiently-run business environment sustained by GBPA. From preliminary fact-finding through grant of final licences, direct access, and one-stop decisions, GBPA is focused on eliminating any investment barriers that may arise. GBPA has also established an extensive infrastructure of services that are at the centre of City Management, Licensing and Regulation, Municipal Services, Utilities, and Economic Development. Together as one entity, they support and sustain an environment for corporate and personal success. It is GBPA’s ongoing mandate to:
• Offer the most comprehensive centre for international business in the region.
• Anticipate and fulfill the requirements for significant and profitable investments in targeted development sectors.
• Deliver a world-standard platform for trade, industry, tourism, real estate, technology, financial services, and lifestyle and entertainment.
GBPA, in partnership with The Bahamas Government, has put in place all the necessary framework to ensure an optimal investment environment on Grand Bahama Island. This partnership encourages:
• An atmosphere where investments are safe and the expropriation of investment capital is not considered.
• A legal environment based on a long tradition of parliamentary democracy, the rule of constitutional and statute laws, and where security of life and personal property are guaranteed.
• Clear and transparent investment incentive legislation.
• An environment in which freedom from capital gains, inheritance, withholding, profit remittance, corporate, royalty, sales, personal income, dividends, payroll and interest taxes is ensured.
• Essential and reliable public services, including modern utilities infrastructure: water, electricity and communications.
• An educational system designed to meet the needs of foreign and domestic investments.
• Duty exemptions for all capital development and supplies for business operations.
• Duty free housing for business licencees and their employees.
• Facilitation of construction, environmental and other regulatory permits.
• Municipal support for long-term development and operations.
• Immediate access to required services infrastructure.