Buying Gold and Silver in the Bahamas
The Bahamas is a group of 700 islands, cays, and islets located in the Atlantic Ocean, although it is often incorrectly perceived as being located in the Caribbean Ocean. With Queen Elizabeth II as head of the state, the Commonwealth of the Bahamas is a parliamentary constitutional monarchy and one of the most popular tourist destination for vacationers, most of whom are Cruise visitors.
Therefore, tourism is the biggest contributor to the Bahamian economy and employs almost half of its population. The nation’s GDP is greatly influenced by new resorts, hotels, and residence facilities which are constructed to boost tourism. Offshore banking is a major contributor to the economy of Bahamas, too. The country is also considered to be a tax haven because of its tax-friendly and business-friendly laws for foreign investors. It hosts several huge financial institutions and offshore companies that do not have to pay corporate taxes unless the revenue is generated locally.
Commodity & Futures Markets in The Bahamas:
Bahamas International Securities Exchange (BISX)
The exchange was established in 1999 and is formally registered with the Securities Commissions of the Bahamas as 'Securities Exchange'. This is a private company that is owned by 45 dedicated shareholders which include stockbrokers, banks, investment companies, pension funds, mutual fund administrators, corporations, and individuals. The domestic market was launched by BISX in 2000 for listing and trading of local companies. Today, there are 17 domestic public companies that are listed on BISX. The rules of BISX ensure a fair and transparent trading system.
Tax on Precious Metals in The Bahamas:
A 7.5% VAT may be applicable.
Since we are not tax experts, Bullion Exchanges strongly advises you to cross check with a tax professional before making any precious metals investments in The Bahamas.