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New Providence, Bahamas
New Providence, Bahamas is 150 miles from Florida and can be reached from New York in two and a half hours. Nassau the capital city and seat of the Bahamas government is on New Providence Island.View detailed map of the island of New Providence, Bahamas. View Lyford Hills’ convenient location.
English is the official language.
Weather is semi-tropical and benefits from the Atlantic trade winds.
Winter: November – March, 72F (22 C)
Summer: April – October, 86F (30 C)
U. S. Eastern Standard Time (EST) is observed, which is five hours behind Greenwich Mean Time (GMT). Daylight saving time is in effect from March through November.
Currency
The Bahamian dollar (B$) is on par with the United States dollar (US$). At the same value, both are accepted everywhere.
Education
Private schools on the island of New Providence include the nearby International Baccalaureate-accredited Lyford Cay School (nursery through high school), as well as many others within a short drive.
Location
Lyford Hills is 15 minutes from the Lynden O. Pindling International Airport, which also has excellent facilities for private aviation.
Economy
Driven by tourism, international banking, and other financial services, The Bahamas has one of the most prosperous economies in the Caribbean. Retail and wholesale distributive trades, manufacturing, agriculture and fisheries are the other major sectors of the economy.
Independence
The Bahamas is an independent nation and a member of the British Commonwealth. The Bahamas has a Governor General who is appointed by the Queen and an elected Prime Minister and Cabinet. The Parliamentary Democracy is based on the British Westminster System.
Financial Services
For decades, the financial; services sector has experienced continuous growth, propelled by the Bahamas’ attractive status as a tax neutral environment with an uninterrupted stable political climate and robust private sector.
Financial services account for roughly 20%+ of the national GDP. The Bahamas currently is home to approximately one-third of the world’s top 100 banks. More than 350 licensed banks and trust companies operate in the Bahamas.
Government
A strong tradition of democracy and political stability ensures that The Bahamas keeps its long-held reputation as a safe and stable location for investments.
Investment
Foreign nationals are encouraged to own second homes in The Bahamas. There are no restrictions on the repatriation of funds and/or profits from home sales or licensed business transactions.
Investors are attracted to the stability of the economy, which is steadied by the solid value of the Bahamian dollar being exchanged.