Business Licence / Valuation Unit

The Business Licence/Valuation Unit is a part of the Ministry of Finance and serves to collect revenue from Business Licence fees and Real Property Tax.  The Unit is currently located at Frederick House on Frederick Street in downtown Nassau.  In addition to Nassau, the Unit has branch offices in Freeport, Grand Bahama, Marsh Harbour, Abaco, Lower Bogue, Eleuthera and Georgetown, and Exuma.  

Any person who owns or operates a business in The Bahamas is required to apply for and obtain a business licence in compliance with the Business Licence Act 2010.  Applications are received at all of our offices between the hours of 9:30am and 4:30pm.  Applications must be accompanied by all supporting documents and approvals from other agencies.  The processing time is within seven working days.  

The Government has extended the exemption of all businesses with a turnover of $250,000 or less from business licence fees.  However, the owners must still file annual business tax returns. Please refer to the attached guidelines for additional information on applying for a business licence.

Persons who operate businesses on islands where the Business Licence/Valuation Unit does not have any office, may make the application and payment to the local Administrator.

The payment of real property taxes is required under the Real Property Tax Act (Chapter 375) and amendments.  Citizens of The Bahamas are exempt from real property tax on vacant land and on property in the Family Islands.  However, all commercial and residential property on New Providence are taxable unless the residential property is owner-occupied and is valued less than $250,000.  Citizens of foreign countries who own property, both vacant and improved land, are required by law to pay property taxes.  

The Real Property Tax Act allows the Chief Valuation Officer to conduct periodic reassessment exercises every five years or sooner when the status of a property is changed either by sales or by improvement.  Under the Real Property Tax Act, Real Property Tax Assessment Officers have the authority to visit your property, upon request to the Chief Valuation Officer, to conduct an assessment for tax purposes.

Please feel free to contact the Business Licence/Valuation Offices at 322-5200 or 325-1171 or by letter addressed to the Chief Valuation Officer, P.O. Box N-13, Nassau, Bahamas if you have any questions on either business licences or real property tax.