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Government pushes forward business reforms – PDF

The Ministry of Finance has issued two press releases concerning the introduction of provisional business licenses in the New Year and the opening of the Department of Inland Revenue Client Services Centre on Saturdays for the month of January. Read the announcements here. 

Source:
Date:
Updated:
TheBahamasInvestor.com
Monday, January 7, 2019
Tuesday, January 8, 2019

The Ministry of Finance will roll out a provisional business license in the New Year to significantly reduce the time it takes to start a new business. This addition was approved by Parliament during the 2018/2019 budget exercise, and will be implemented by the Department of Inland Revenue in the first quarter of 2019.


“With a provisional licence it will take just five days or less to start a new business. This will be available to all low-risk businesses. It will be valid for 90 days, which means entrepreneurs can be up and running while they work to complete the full business licence process,” said Marlon Johnson, Financial Secretary.

The fee for starting a new business has also been removed, eliminating another barrier for entrepreneurs.

Read/download the press releases here:

America Airlines has launched new round-trip flights to Abaco and Eleuthera. Watch a video about the inaugural flights here.

The shipping company Baleària Caribbean will be adding the fast ferry Jaume II to the route between Fort Lauderdale and Freeport, Grand Bahama to replace the Jaume I as of mid-January.

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