Employer of Record & Payroll Services

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Overview
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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.

Competitive benefits package in Bahamas

Health Insurance

Dental Insurance

Vision Insurance

Mental health support

Pension or 401(K)

Life and Disability Insurance

Facts & Stats

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.

Capital City

Nassau

Currency

Bahamian dollar

Languages

English

Population size

385,637

Ease of doing business

Medium

VAT - standard rate

12%

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).

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.

Payroll

29

per employee/month

Powerful, transparent international payroll
Simple self-service platform
Personalized support from dedicated specialists
Adhere to local payroll regulations in every country
Integrated payroll, expense management, and HRIS solution

Contractor Management

29

per contractor/month

Only pay for contractors you actively work with
Work with international contractors
Create, edit, and sign tailored, localized contracts
Approve contractor invoices with one click or auto-pay
Transparent payments with complete visibility

Employer of Record

699 599

per employee/month

Hire without opening a local entity
Guided onboarding
Local payroll paid on time, every time
Built-in security and compliance
Flexible, localised benefits
Offer equity incentives with tax assistance
Dedicated experts for local support

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Easily manage employment in Bahamas