Establishing a Business

Below is a general outline of this process. For more specific inquiries, please contact the Grand Bahama Port Authority.

Becoming a Licensee

The Grand Bahama Port Authority, Limited [GBPA] is responsible for licensing all businesses within the 'Port Area' of Grand Bahama Island, and has an efficient process for approving new investment. Potential investors can expect to receive helpful guidance from GBPA's Licensing Department every step of the way to make the process as straightforward and effortless as possible.

There is a huge scope for future investment across a range of sectors including trade, industry, real estate, tourism, financial services and technology. And no other location in the region can offer the diversity of land that is available on Grand Bahama Island. For investors of all kinds, the excellent transport and communications infrastructure and the wonderful, almost carefree way of life, have proved an irresistible combination.

The documents required for applying for a License are:

• Application form completed and submitted Appendix "A" and Affidavit of Character Forms completed and submitted (In the event of partnership, these Forms must be completed by each
• Shareholder)
• Non-refundable processing fee
• Submission of Business and Bank References
• Submission of Financial, Business and Personal References for each Shareholder, with personal identity data to enable independent background search and verification.
• Any other pertinent information that may support the application, including Business Plan and explanation on goods / services to be produced / provided.

The majority of companies formed in the Bahamas for offshore purposes are incorporated under the International Business Companies Act 1989. However this law did not supersede the existing companies law, most recently re-stated in the Companies Act 1992, which is based on English law and is used to form various types of company used by businesses trading in the Bahamas, and also for certain other special purposes.

Companies formed under the Companies Act 1992 can be private companies limited by shares or by guarantee, or can be public companies. For all these types of company, Memorandum and Articles of Association must be filed at the Companies Registry, there need to be a minimum of two members, and there must be a registered office in the Bahamas. If a company is going to trade locally, it will need an appropriate business license.