The archipelago that makes up The Bahamas is located broadly between Florida and Cuba, in the Atlantic Ocean. Of the 700 islands, only 29 are inhabited. Nature enthusiasts moving to The Bahamas will love their new home for the more than 2,000 coral reefs stretching from Florida’s southeast coast to the northwest of Hispaniola.
The developing nation has a stable economy, although heavily dependent on tourism and offshore banking. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences have led to solid GDP growth for many years. As with all other Caribbean islands, the Bahamas has no income tax, corporate tax, capital gains tax, value-added tax (VAT), or wealth tax, which makes it a good place to start a business.
New Providence Island is home to the majority of the population and the location of the country’s capital, Nassau. The city is an incredibly important destination due to its location, and because it functions as the seat of the government and the center of commerce. Despite Nassau’s cosmopolitan character, the colonial flair of the olden days is still prevalent in the charming town.