Quote:
Originally Posted by belizesailor
Getting legal takes time too. I've established myself in a couple of developing countries and I suggest that you allow at least one full year -- maybe more.
I've sailed a lot in the Bahamas, but not done business there -- maybe someone here that has can chime in with Bahamian specifics.
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I have done some business in the bahamas in the early 1990s and worked there. Usually unless there has been changes a Bahamian national {resident} must have controlling interest of any business which means putting your
boat in a company where over 51% is bahamian owned and then there is the existing competition which will not welcome any "new
kids in town"..Interestingly enough you can have 100% control of an IBC{ international business corp.} and buy condos and rent them for
income as it is labelled "investment"
income same as "interest" or stock "dividends" however a
charter boat business is classed as active as a restuarant, bar, etc, The impound docks at
Bimini and
Nassau had a few nice boats awaiting
auction last time i bothered to look however the nicest yachts usually have a reserved bid by the competition that got the boat seized initially. Even friends visiting that go ashore talking like their your paying guests can raise some "ire". Best to go to San Blas islands off
Panama if you want to run "free and clear" charters to
columbia etc. Most operators in the Bahamas get shut down fast unless you have a Bahamian partner. Good luck and keep in mind that unless you can fulfill a job that a local cannot do most countries only want
beer drinking currency spending foreigners.Of course MRI technicians and doctors usually have no problem getting
work permits but business permission can be frustrating. An old associate couldnt even open a small liquor store on ST.Lucia without major red-tape but had no problem
buying a Bed-breakfast establishment.Do as much
research using solid banker advise from a caribeean bank is my advise as the bankers know which businesses the foreigners can run openly etc. Cheers