About The Bahamas

A Nation of 700 islands in the Atlantic Ocean , The Bahamas extends from the East coast of Florida , South to the Dominican Republic . Its capital Nassau , on New Providence Island , accounts for 195,000 of the country's 288,000 population. Surpassed only by the United States and Canada , the per-capita earnings of The Bahamas ranks third highest in the western hemisphere.

This politically stable country is governed by a bicameral legislature with an executive branch headed by a Prime Minister. The parliamentary democracy was introduced by British colonists in 1729, and further strengthened when the country became independent in 1973. The Bahamas low rate of inflation, and strong fiscal discipline sustained through a one-to-one peg of the local Bahamian Dollar with a free circulating U.S. Dollar, have allowed the country to maintain a sovereign rating of A3 by Moody's Investor Service.

The Bahamian laws are oriented to promote its two most important economic activities: tourism and international business. There are no corporate, personal, inheritances, dividends, or sales taxes. The country is regarded as one of the top ten international banking centers in the world and its strict bank secrecy laws are considered one of the most protective of the world. The highest reputable Central Bank of the Bahamas works hard to maintain the prestige of the financial center and through effective and modern banking supervision.