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Hotel Site Info

 

The incentives available to new hotels are as follows: 

 

• Exemption from the payment of custom duties in respect of the importation of materials necessary for the construction, equipping and furnishing, of the new hotel. The materials eligible for custom duty exemption are set out in the Hotel Encouragement (Custom Duties Exemption) Regulations, 1999 (“the Regulations”). It is important to note that any materials imported or purchased prior to the grant of the approval of the project will not be exempted from payment of customs duty. 

 

• The right to import construction plant free of customs duties on a Customs bond, with the obligation to re-export it by a given date. 

 

• Exemption from the payment of real property taxes for specified periods.

 

• Admission into the Bahamas of key personnel and special workmen during the construction period and  during the operation of the new hotel. 

 

• 20-year exemption from direct taxation upon the earnings of the hotel and its amenities.

 

•Refund of all custom duties paid on materials purchased in The Bahamas. 

 

• In the case of a Family Island, exemption from the payment of stamp duties payable in respect of the importation of materials.