Freeport Facts

In 2016, Freeport was named the Best Free Trade Zone Overall for SMEs in Latin America and The Caribbean

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Overview

Located just 68 miles from the coast of Florida, the island of Grand Bahama is the most northern island in The Bahamas' archipelago

Grand Bahama’s strategic location has it ideally positioned at the center of major international trade lanes leading to Africa, Australia, Europe, South, Central and North America. On the island of Grand Bahama lies the city of Freeport, a modern 230-square mile, tax-friendly, free trade zone with world class infrastructure.

Freeport is administered and regulated by a private organization known as The Grand Bahama Port Authority. In conjunction with The Government of The Bahamas, The Grand Bahama Port Authority has engaged in the best possible give-and-take relationship with private enterprises, resulting in the creation of a thriving city with more than 52,000 people.

When you look beyond the stunning beaches and natural beauty of The Bahamas, you will find out that Freeport is an extraordinary center for business and private investment. With the city of Freeport being a free trade zone, there is a wide array of tax incentives. Companies are exempted from income tax, capital gains tax, property estate tax and import and export duties.

Freeport Facts #1

Key Points

Number of licensed businesses in Freeport

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Population

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Workforce

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Freeport Facts #2

GDP Per Capita, PPP

Figures reflect the excellent quality of life enjoyed in The Bahamas as indicated by its Gross Domestic Product (GDP) per capita which ranks among the top in the world.

Freeport Facts #3

Major Companies

Grand Bahama Shipyard

Ship Repair Services

Freeport Container Port

Logistics & Transportation

Polymers International Ltd.

Manufacturing

PharmaChem Technologies

Pharmaceutical Manufacturing

Buckeye
Bahamas

Oil Storage & Blending

Mediterranean Shipping company (MSC)

Bahama Rock

Aggregates

Doctor’s Hospital

Abaco Markets Limited

Shell Bahamas

Fuel Supply

Wyndam Hotels & Resorts

Tourism

Emera

Power Generation

Western Atlantic University School of Medicine

Royal Caribbean Cruise Lines

Carnival Cruise Lines

EY

Lucayas Solar Power

Xquisite Yachts

Advance Disposal

Freeport Facts #4

Interesting Facts

Structured exemptions from taxes on real property, capital gains, earnings, stamp duty, import and export taxes.
Duty exemptions from all capital development and supplies for business operations.
Duty free housing for business licensees and their employees.
Within 70 miles of the largest economy.
Minimum wage of $5.25/hr.
International Airport with 11,000ft runway and direct US flights
Abundant supply of fresh water.

96% literacy rate.
Highly trained industry professionals with English as a first language.
More than 400 miles of US-quality roads.
The deepest, largest and most strategically located international shipping port in the region.
Reliable and stable utilities.
Accelerated work permit with Commercial Enterprise Act.
Ideal climate and lifestyle with many places to explore.

Freeport Facts #5

Consumer price index

Figures reflect lower cost of living than regional and key global competitors

freeport Facts #6

Profit tax (% of commercial profits)

Figures reflect Grand Bahama pool of skilled workers across a wide array of skill sets available to help you meet your objectives.

Freeport Facts #7

Telephone lines (per 100 people)

Figures reflect advanced telecom, utilities and support services. With the second highest broadband Internet home penetration rate in the region, the local workforce offers a high level of technological literacy

freeport Facts #8

Population ages 15-64 (% of total)

Figures reflect mass population

Freeport Facts #9

Mobile cellular subscriptions (per 100 people)

Figures reflect advanced telecom, utilities and support services

Source: The World Data Bank