BAHAMAS

Logistic and forwarding services in Bahamas

Bahamas

Capital City
Nassau

Population
365’000

National languages
50% Dari, 40% Paschtu, 5% Usbekisch, andere

Currency
English

Gross national product (GNP)
USD 8,6 Mia. (est.)

GNP per person
USD 24’014 (est.)

Financial exports to Switzerland
CHF 80 Mio.

Financial imports from Switzerland
CHF 66,8 Mio.

Bilateral relations Switzerland–Bahamas

Bilateral relations centre on financial services and tourism. Swiss firms consider the general conditions for doing business to be good. Trade between the two countries is limited.

Economic cooperation

Since the end of 2010, Switzerland has been the Bahamas’ fourth largest import partner and consequently its most important European trading partner. The overall volume of trade is small, however, and is mainly in works of art, jewellery and antiques.
Since 2009 the Bahamas have concluded tax information exchange agreements in line with OECD standards with various countries, but not with Switzerland.

 

Business language

English.

Dimensions and weights

Metric system.

Currency

Bahamian Dollar (B$) = 100 cents (c).
ISO code: BSD

Customs tariff

Harmonised system.

Import control

Most goods can be imported within the scope of the “Open General Licence”. There are special registration or licensing provisions for certain groups of goods such as plant products, foods, pharmaceutical and chemical products etc.
Import licences are generally valid for six months. Ask the importer. There are general import bans for, among other things, butter substitute, fruit, vegetables, lysergic acid diethylamide and any compounds of this, sodium fluoroacetate and products which infringe copyrights. The CICs (chambers of industry and commerce) can offer more detailed information.
Standard VAT rate: VAT of 7.5% has been charged in the Bahamas since 01/01/2015.

Terms of payment and tenders

The Central Bank of the Bahamas monitors the foreign currency market.
Only payments against an irrevocable letter of credit are advisable.

Designations of origin

No special regulations. In the case of any doubts about the origins of goods, indicate this precisely (Made in …).

Marking/labelling

Standard marking regulations. The goods should be marked in English. The following information should appear on the packaging: name and address of the manufacturer, description of the goods, any warnings, country of origin, date of production and expiry date (if applicable).
Special labelling regulations apply to cigarettes, foods, pharmaceuticals and substances that are harmful to the ozone-depleting.

Packaging

Avoid hay and straw, otherwise a state health certificate from the country of export is required. Use stable packaging.

Product samples

Samples with no value are duty free.

Shipping and accompanying documents

a) Commercial invoices, three copies, in English with all standard information including country of origin. Uncertified. At the invoice, the following declaration must be made by the exporter and signed (no photocopied signatures): “We certify this invoice to be true and correct”.

b) Certificates of origin are not required.

c) Order bills of lading permitted with an indication of a notify address.

d) Freight and sea shipments: as a) to c). Bills of lading uncertified.

e) Movement certificate EUR 1 or UE for products which come under the CARIFORUM (international consignment note) regulation on origin.

f) Postal packages up to 20 kg: 1 APC and 1 customs declaration in English.