What's the Internet law in the Bahamas?

Themes of the law are very important and therefore here is the basis points of Bahamas internet law.
The Bahamas, which is composed of 700 islands, is traditionally a tourist jurisdiction and financial center, which focus on e-commerce is relatively recent. The Bahamian Government has launched several ambitious programmes aimed at strengthening the position of the Bahamas as an international e-commerce center.
Initially, the development of e-commerce was directed towards the diversification of the traditional business sector services. Indeed, the introduction of Information and Communication Technology infrastructure enabled the Bahamian financial sector to offer corporate and financial services to Internet businesses and back-office functions, thus maximizing investor returns in such businesses. After that, the development of e-commerce gradually came to be viewed as a tool for sustainable economic growth, with such measures as (i) the establishment in May 2002 of a Ministry of Financial Services and Investment, responsible for the promotion of e-commerce, (ii) the development of a reliable telecommunications infrastructure, (iii) the adoption of a legal and regulatory framework that inspires confidence and trust in electronic systems being used to conduct business, and (iv) the availability of Government services electronically.

What progresses have been made regarding e-government?
E-government is regarded as an essential part of a commercial environment that will strengthen the financial services sector in the Bahamas. Consequently, the Government has set an ambitious program of goals for the development of e-government in the Bahamas. Significant progress has been reported, notably with the computerization of the Companies Registry of the Registrar General's Department. The computerized Registry allows for a wide range of functions to be carried electronically, including the following:
Electronic submission of incorporation documents;
Paperless procedure for incorporation;
Registry approval and filing initiates automated incorporation process;
Payment via credit card or Payment on Account;

Electronic receipt issued to Agent;
Documents, electronic as well as paper, company particulars, payment history, etc. available for agent review via online Company Inquiry.

What general factors foster the development of e-commerce in the Bahamas?
These factors include the following:
The Freeport market, which is a major opportunity for the expansion of e-commerce. The Freeport market hosts companies that provide a full range of e-commerce facilities, including Internet Service Providers and data centers that provide servers accommodation, commercial web hosting, server co-location, and virtual office solutions.
High quality telecommunications infrastructure of self-healing fiber optics connected to North America.
A complete legislative framework.

Is the legislation adapted to the development of e-commerce?
Yes. Three bills were introduced before the Parliament, which are aimed supporting and enforcing a predictable, minimalist, consistent and simple legal environment for e-commerce in the Bahamas. These 3 Bills are:
The Electronic Communications and Transactions Bill, which notably defines those circumstances where an agreement that is required by law to be in writing and signed in original form can be generated electronically.
The Computer Misuse Bill, which covers six different offenses including all forms of hacking. The Computer Misuse Bill is based on standards and guidelines that have been established by the European Council and the Organization for Economic and Co-operative Development (“OECD”).
The Data Protection (Privacy of Personal Data) Bill, which implements privacy principles established by the OECD to protect the privacy and transfer of personal data.

Are there any fiscal advantages for e-commerce companies?
There are no tax incentives specifically designed for e-commerce companies. However, as a general rule, there is no income or corporation tax, no capital gains tax, no Value Added Tax or sales tax, and no withholding tax. Companies and partnerships pay annual fees to the Government depending on their nature and capitalization. There is stamp duty and there are some property taxes. In addition, all of the offshore entities, and non-resident domestic companies, are exempt from exchange controls. Offshore operations take place through International Business Companies or other tax-exempt forms. E-commerce companies can also take advantage of the tax free zone, substantial transshipment facility and light industry capabilities of Freeport.