Freeport is a 230-mile free trade zone established by the government of the Bahamas in 1955. It is now a bustling commercial center just a 35-minute plane ride from Southern Florida. Its harbor is the nearest offshore port to the United States. Freeport is well suited for global trade, being the intersection of Europe, North and South America and Panama Canal routes. Businesses at the Freeport pay no taxes on profits, income, capital gains, inheritance, gifts, distribution, and import and export of goods. Taxes and import duties on real estate have been waived until 2015.
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