As a key element of the of The Government’s ongoing “Ease of Doing Business” initiative, The Department of Inland Revenue (DIR) is pleased to announce the commencement of the first phase of efforts to make business licencing processes for Bahamian companies “Easier, Faster and Better”.

This phase is focused primarily around persons registering their business for the first time and will take effect on February 5, 2018.

The key aims of this phase is geared toward:

Making information on registering a new business more accessible to the general public

Introducing a combined application form for the relevant government agencies, that are responsible for issuing approvals in order to open a business

Reducing delays in approvals

Eliminating customer turnaround

Customers will be able to log on to the Department of Inland Revenue’s website at http://inlandrevenue.finance.gov.bs to complete and submit the following:

The Business Trade Name application form - to verify name availability for a new business

NIB Business Registration Form (R1) and Individual Registration Form (R4), where required

The Consolidated Agencies Application form which will be directed to:

Department of Physical Planning (DPP)

Ministry of Works (MOW)

Department of Environmental Health Services (DEHS)

Royal Bahamas Police Force (RBPF) Business Inspection & Licencing application form

Note that NIB will send confirmation of contribution status electronically to the Business Licence Unit which will eliminate the need for visits to NIB for a physical NIB Letter of Good Standing. Additionally, a Tax Compliance Certificate (TCC) is no longer required for Business Licence approval.

Special attention should be given to The Nature of Business spreadsheet and other Agency Guides.

For more information on the steps to acquire a Business Licence visit our website at: http://inlandrevenue.finance.gov.bs, under the “Business Licence - Applying for a Business Licence” tab.