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Bahamas
Prime areas: Nassau (New Providence), Freeport (Grand Bahama), Abaco (Out Islands) Capital: Nassau Currency: Bahamian Dollar (B$) Language: English, Creole The Bahamas is an archipelago of 700 islands and cays, and 2,300 islets. It is Famous for its pink and white sand beaches that meet the blue waters of the Atlantic. Only about 35 islands are inhabited. The islands of New Providence, home to Nassau, and Grand Bahama, where Freeport is located, account for most of the 300,000 residents of the country. The so-called Out Islands, known as the Family Islands, are sparsely populated. The Bahamas is a former British colony, and remains a member of the British Commonwealth. The country is a stable parliamentary democracy. The legal system is based on English Common Law. The Bahamian economy relies on tourism and finance. The Bahamas is an offshore tax haven. Investments in homes, resorts and hotels are highly encouraged and supported by the government. Due to its close proximity to the US and direct flights from the UK and many other locations, the Bahamas has become popular with property investors and wealthy buyers looking for second homes. Exclusive property developments have been built not only on the larger islands, but have reached the outer islands as well. Tax incentives are granted to commercial development on 32 inhabited islands. Among the larger islands, the most developed are New Providence, Grand Bahama. The Abaco Islands are the most developed of the Out Islands. Homes worth US$1 million and up sell well in Abaco, Nassau, and Paradise Island. There are many oceanfront lands available for sale in the Bahamas. Most are much cheaper than in the US.