Bahamas International Securities Exchange (BISX) provides equity listing and trading facility for the securities of domestic issuers. Currently, there are 20 domestic public companies listed on BISX. The exchange also offers mutual fund listing services targeted at international investors, who may require the extra visibility afforded by a listing on an established securities exchange as a basis for their choice of investment vehicle.
Phone: +1 (242) 394-2503
Fax: +1 (242) 323-2320
Year Founded: 1999
Location: Nassau, Bahamas
Currency: Bahamian Dollar (BSD) (1 BSD = 1 USD)
Trading Hours: 10:00 AM —12:00 PM
Capital Gains & Income Tax: None
In the Bahamas there is no income tax, capital gains tax, capital transfer tax or estate tax. Those in employment pay national insurance contributions – 3.9% paid by the employee and 5.9% paid by the employer. Self-employed have to pay the whole amount by themselves. A value-added tax (VAT-7.5%) was introduced effective 1 January 2015. There is also stamp duty payable on property and mortgage transactions, and a tax on real estate. Here’s an article about the pros and cons of tax-free living in the Bahamas.
Company Listings: These 20 companies have equity shares listed on BISX
QUICK FACTS ABOUT TRADING ON BISX:
How do I trade on the Bahamas International Securities Exchange?
To buy or sell the securities of a company listed on the exchange, an investor must contact a BISX Broker-Dealer who would carry out that transaction on their behalf. BISX Broker-Dealers are the only entities able to place buy and sell orders on the exchange. Contact Information for BISX Broker-Dealer Members can be found in the “Members” Section of the BISX website.
BISX maintains an electronic wide area trading network for it Members to trade Monday thru Friday at 10:00 a.m. to 12:00 p.m. excluding public holidays.
How are share prices determined?
BISX maintains an Order Driven trading system. This means that anyone can enter a buy or sell order and the electronic trading system will place these orders in a queue where they will match with an opposing order. The BISX Automated Trading System maintains Trading Rules that places orders in a certain priority to ensure that there is fairness and equality in the execution of trades.
Who regulates BISX?
The primary regulators for BISX and Bahamas’ securities industry are:
• Securities Commission of The Bahamas (SCB) www.scb.gov.bs
• Central Bank of The Bahamas www.centralbankbahamas.com
• Compliance Commission of The Bahamas www.bahamas.gov.bs
The Bahamas has the second highest per capita GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and international banking. Tourism accounts for approximately 75-80% of GDP and directly or indirectly employs half of the archipelago’s labor force. Financial services accounts for about 15% of GDP. Manufacturing and agriculture combined contribute less than 7% of GDP.
In August 2016, Moody’s downgraded the Bahamas’ bond and issue ratings to Baa3 from Baa2 with a stable outlook, maintaining that rating in its February 2017 review. In December 2016, S&P downgraded the country to BB+ (speculative grade) from BBB- (investment grade) with a stable outlook based on projections of slow economic growth and the pace of debt accumulation.
On January 1, 2015, the Government introduced a 7.5% Value Added Tax (VAT) on most goods and services, a measure designed to strengthen the fiscal balance sheet.
The Bahamas is the only country in the Western Hemisphere that is not a member of the World Trade Organization.