The Lear 36 Executive Jet had taken off from the Bahamian capital of Nassau and crashed while attempting to land around 5 pm local time in Freeport, according to a statement from the Ministry of Transport and Aviation.
"The Department of Civil Aviation has been advised unofficially that the aircraft was destroyed and that there were no survivors," the ministry said. Names of the victims were not immediately available.
The cause of the crash has not yet been determined though there had been heavy rain across the region. Police and fire authorities were on scene and a full investigation would begin at daylight today.
The crash occurred as people were gathering in Grand Bahama for an annual Christian leadership conference.
The Bahamas Tribune newspaper reported that Myles Munroe, a prominent Bahamian minister who organized the event, was among those killed, along with several other people who were in his delegation.
Chief Supt Clarence Reckley said he could not confirm the report and that authorities were still trying to determine the identities of the victims. Grand Bahama is about 113 kilometers east of Florida.