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Bahamas

Bahamas Flag

Country: Bahamas
Region: Caribbean
Currency: Bahamian Dollar (BSD) (B$)
Languages: English
Time Zone: UTC -5

Phone Code: +1242

Communications: Good

Formation Cost: 1300 - 2900 USD$
Formation Time: 9 - 15 days
Maintenance cost: 1000 - 2000 USD$

Executive Summary: The economy is heavily dependent on tourism (4m visitors a year), but financial services are growing in importance. There is a stock exchange (BISX) but it has struggled to develop a secure financial base in the absence of promised privatisations. Leading sectors are banking (278 banks at the end of 2011) and mutual funds (713 at the end of 2011). Trust management is also prominent. Offshore operations take place through International Business Companies or other tax-exempt forms. The insurance sector has assets of USD1.3bn. Professional services are excellent. The shipping registry has been very successful for larger vessels. There is no income tax, capital gains tax, VAT, sales or use tax or wealth tax. Annual government fees are imposed on businesses and there are national insurance, stamp duties and property taxes. The Bahamas has signed 28 Tax Information Exchange Agreements.

Suitable for: Wealth Management, Banking, Shipping, Aviation, Yachting, Intellectual Property/Licensing, Holding Companies
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: Limited companies, public limited companies, trusts, foreign companies, limited partnerships, exempted limited partnerships and segregated account companies

Capital primary business districts: Nassau

Good Relationships: Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Dominica, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, United Kingdom, United States

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Very Light

Tax Burden - Individual: Very Light

Headline tax rates: CIT 0%, PIT 0%, VAT 0%

Treaty Jurisdictions: None

TIEA Jurisdictions: Argentina, Aruba, Australia, Belgium, Canada, China, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Guernsey, Iceland, India, Japan, Korea, Republic of, Malta, Mexico, Monaco, Netherlands, New Zealand, Norway, Poland, San Marino, South Africa, Spain, Sweden, United Kingdom, United States

Information Links:

 

 

 

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Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

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