Legal Market Overview
Following a slight dip in activity during the early stages of the pandemic, The Bahamas bounced back relatively quickly, and firms in the region have been noticeably active throughout 2021. Real estate work in particular has driven many practices forward, with hotel and mixed-use developments springing up across the islands, and high-net-worth individuals purchasing second homes in the jurisdiction. This is also buoyed by the gradual return of the country’s tourism industry post-Covid, a sector which traditionally counts for 60% of its GDP.
Firms have also been seeing the benefits of international firm networks with member firms attracting substantial cross-border instructions and international mandates. This is particularly evident in the financial services sector, which remains an area of growth for the jurisdiction regarding offshore financings and investment mandates.