Organization : Department of Inland Revenue
Facility : Apply for Occasional Business Licence
Country : Bahamas
Website : http://inlandrevenue.finance.gov.bs/business-licence/occasional-business-licence/
Apply Occasional Business Licence :
All businesses are required to be licenced under the Business Licence Act 2010. Any person who wishes to conduct business in the short term must apply for an Occasional Business License.
Related : Apply for Temporary Business Licence Bahamas : www.statusin.org/29084.html
The period must not exceed seven days. An Occasional Licence can be granted for a maximum of four times per year.
Business ventures that require an occasional business licence include :
** Carry on a sales business
** Stage a business event or trade show
** Vend at regattas, farmers’ market, or community events
Eligibility :
Bahamian citizens or Permanent Resident with right to work in The Bahamas or Non-Resident (as a traveling salesman and must have a valid work permit).
Process :
** Register online via vat.revenue.gov.bs.
** Scan and upload the approvals along with other supporting documents in the online application form in the ‘Supporting Documents’ section.
** Ensure the online Business Registration Application form indicates that it is an Occasional Licence.
Supporting Documents : (scan and upload in the‘Supporting Documents’ section of the online form)
** Copy of valid passport.
** Letter of approval for event/show.
** Authorization for use of the business location.
** Department of Environmental Health Services approval (sale of all food items-liquid or solid).
** Royal Bahamas Police Force approvals (sale of alcoholic beverages and/ or music and dancing).
Related Taxes(s) :
The tax for an Occasional Licence is BS$25. Once all document requirements are met and approved, the application is then processed within 7 working days.
The Department of Inland Revenue will contact the applicant via the online user account for additional information or clarification if needed. You should regularly check your messages in your online account and the email address you provided for correspondence from the Department.
FAQ’S – BL :
1. Do I need a licence to do business in the Bahamas?
Yes. Every person conducting business within The Bahamas is required to have a business licence (Business Licence Act, 2010 3(1)).
2. What are the requirements for a New Annual Business?
** Proof of Bahamian Citizenship (Valid passport) or permanent residency with right to work.
** Approval from the Bahamas Investment Authority for non-Bahamian and foreign owned companies.
** Certificate of Incorporation (with proof that shares are 100% beneficially owned by Bahamians);
** receipt of current company registration or Current Certificate of Good Standing.
** National Insurance Board (N.I.B.) letter of good standing along with copies of owner’s personal N.I.B. cards.
Lease/rental agreement or proof of ownership of property (copy of conveyance) for office Space along with approvals from :
a. Department of Physical Planning (zoning).
b. Ministry of Works/Building Control Section (inspection) and;
c. Department of Environmental Health.
d. Police approval (for sale of alcoholic beverages and music & dance activities).
NB :
It should be noted that the above requirements are needed for all businesses; however, additional requirements are needed for regulated businesses, for example attorneys and custom brokers.
3.Can I operate any type of business from my home, i.e. (within a residential area)?
No. Only business activities that are zoned for residential areas can be conducted provided approval is obtained from the Physical Planning Department. Businesses that are deemed industrial in nature are not allowed.
4. Are there any penalties for operating a business without a licence and what are the penalties for not renewing my licence by the due date?
(i) A fine of five thousand dollars and
(ii)In addition to any fine, a sum of one hundred dollars for each day the offence continues subsequent to the date to which the conviction relates. (see Business Licence Act, 2010 26(2)(a)) The penalty for late renewal filing is $100.00
5. Are there any penaltiesfor late licence payments?
A charge of 10% of the tax liability is applicable for late payments.