Legal market overview in Bahamas

The Bahamas remains a key tourist destination in the Caribbean with the tourism industry (particularly cruises) accounting for 70% of the countries GDP. The post-pandemic easing of restrictions has subsequently led to a real estate boom, with resorts, hotels and private islands dominating property sales and developments.

The jurisdiction also continues to attract high-net-worth individuals as well as foreign investors, with its competitive tax regime and abundance of offshore entities.

The country’s hopes of becoming an international hub for digital assets and cryptocurrencies was dealt a major blow in late 2022 when FTX, the Bahamas-headquartered crypto exchange, collapsed in spectacular fashion. The fallout has led to a broad swathe of work for local and international firms, with many involved in the company’s Chapter 11 bankruptcy and related litigation. However, hope still remains for the wider technology and fintech sectors, with the jurisdiction’s regulatory landscape and technology infrastructure investment still offering attractive opportunities despite the increased scepticism.

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