Easily manage employment in

Bahamas
bahamas flag

Remote's Bahamas employment guide will guide you through your compliance responsibilities. Note that Remote's employer of record services are not yet live in Bahamas. but you can pay contractors with Remote now.

Services available in this country:
Contractor Management
  • Capital City

    Nassau

  • Currency

    Bahamian dollar ($, BSD)

  • Languages

    English

  • Population size

    385,637

Services available in this country:
Contractor Management
City of Bahamas

Facts & Stats

Bahamas
  • Capital City

    Nassau

  • Currency

    Bahamian dollar ($, BSD)

  • Languages

    English

  • Population size

    385,637

  • Ease of doing business

    Medium

  • Cost of living index

    85.85 (2021)

  • Payroll frequency

    N/A

  • VAT - standard rate

    12%

  • GDP - real growth rate

    1.2% (2019)

The Bahamas has been continuously inhabited since the 9th century AD when the Lucayans migrated to the island paradise from nearby Cuba, roughly seven centuries before Columbus arrived in the Caribbean. Flash forward two centuries later and the archipelago gained independence from its British colonial owners in 1973.

In modern times, the nation of just under 400,000 boasts one of the strongest economies in the Carribean, buoyed by a flourishing tourism industry that welcomes over 7 million globetrotters each year.

The Bahamas remains popular among corporate professionals and companies looking to reduce taxation levels, as well as a growing group of digital nomads looking to explore the world.

Grow your team in Bahamas with Remote

You can pay contractors now in Bahamas with Remote in some currencies (talk to a Remote expert now for more details).

Note that we are busy developing our EOR product to legally operate in Bahamas and provide you with the best possible experience for your team, but we are not yet ready to employ in Bahamas.

Companies hiring in Bahamas are typically required to either own a legal entity in the country or work with a global employment solutions provider to employ on the company's behalf. Developing the processes required to manage payroll, benefits, taxes, and onboarding in countries like Bahamas can get complicated fast, especially without localized expertise. If you’re looking to start hiring in a country like this, using a global HR platform like Remote makes it easy to hire workers in full compliance with all local legislation. In the countries where we do offer our Employer of Record product, Remote takes on responsibility for compliance so you can focus on hiring great talent and growing your business.

Risks of misclassification

Bahamas, like many other countries, treats self-employed individuals or contractors and full-time employees differently. Misclassification of contractors in Bahamas may lead to fines and penalties for the offending company.

Employing in Bahamas

Provisions for employee protections and workers’ rights are spelled out in the Bahamian Constitution as well as several government statutes, such as the Employment Act of 2001, the Fair Labor Standards Act, and the Health and Safety at Work Act of 2002.

Employees in the Bahamas generally enjoy protection against discrimination based on age, sexual orientation, gender, and race.

Common questions that could come up during the hiring process include the minimum wage, overtime rates, and guaranteed paid time off. Remote can help you offer a complete, competitive, and compliant benefits package to your employees in the Bahamas.

Minimum wage

The minimum wage in the Bahamas is currently fixed at $5.25 per hour, $42 per daily, or roughly $210 per week.

The Bahamian dollar is pegged to the US dollar so those figures represent what a Bahamian would earn in U.S. dollars.

Effortless HR Bahamas: Take the Tour

Seamlessly manage your workforce, from first hire to final paycheck

Competitive benefits package in Bahamas

At Remote, we’re passionate about helping you craft the best possible employee experience for your team. We are leading the way in developing globally competitive benefits programs. This means making sure employees everywhere have access to both the required and supplemental benefits they need to thrive, and that your company has the localized expertise needed to attract and keep the best global talent.

Although we don't yet have our own legal entity in Bahamas, our benefits packages for all countries are tailored to fulfill the local needs of employees. Typically, our packages contain some or all of the following benefits:

  • Health Insurance

  • Dental Insurance

  • Vision Insurance

  • Mental Health Support

  • Pension or 401(K)

  • Life and Disability Insurance

Fair Pricing in Bahamas

Contractor Management

Compliantly onboard and pay contractors

$29

per contractor/month

Top features

  • Only pay for contractors you actively work with

  • Work with contractors in 200+ countries and territories

  • Create, edit, and sign tailored, localized contracts

  • Approve contractor invoices with one click or auto-pay

  • Transparent payments with complete visibility

Payroll

Consolidate your multi-country payroll

$29

per employee/month

Top features

  • Support: Personalized assistance with a dedicated team and specialists

  • Accuracy: Test runs and parallel pay runs before implementation

  • Compliance: Adhere to local labor laws in every country

  • Timeliness: Accurate and on-time payroll with labor authority reporting handled

  • Experience: Seamless payroll with easy access to payslips and expenses

HR Management

Manage all of your employees in one place

Free

Top features

  • Guided onboarding and offboarding

  • Employee profile and document management

  • Time and attendance (time off and tracking)

  • Expense management and reimbursement

  • Employee self-serve on the platform and mobile app