Requirements

• Business License
• Tax Compliance Certificate (TCC)
• Invoice(s)

Small and medium businesses are eligible to apply for and obtain duty-free exemptions on all items needed to start or expand their business, this includes the first stock of inventory, regardless of their location in the Bahamas.

The applicable exemption waivers will be approved for duties on commercial items procured locally and internationally.

FAQ & Answers

• Nationality
  • Bahamian citizens, 18 years old or older, residing in the Bahamas or abroad.
    
    
• Business Licence
  • The applicant must currently possess a business license.
    
    
• Sales Turnover
  • Must have a turnover of less than 5 million dollars per annum
  • Should applicant be a limited company, please give the name(s) of beneficial shareholders.
    
    
• Application and Approval Period
  • The applicant is approved for a period of one-year.
  • Applicants approved for the exemption on items within the period of one year may not apply for the same items until the second year.
    
    
• Supporting Documents
  • Applicants must provide the following support documents.  Business NIB, Tax Compliance Certificate (TCC), invoice (s).
  • Once approved, the applicant can use the exemption document (Certificate) to present to Customs Department.
  • If rejected, the applicant is required to pay the normal duties stipulated by the Customs Department.
  • Documents and items are also subject to physical inspections and visits by the Ministry of Finance, Revenue Officers.
    
    
• Start-up Business Exemption
  • First Time Inventory – There is a limit on the first time inventory.  Only new businesses are eligible for exemption.
  • Inventory may be granted for existing businesses if opening a new or secondary location.
  • Equipment Machinery must for relate to the business.

Go Back