BAHAMAS

By Leo Zhang. As one of the most prosperous and richest countries in the Caribbean region, The Bahamas has a long history of offshore finance dating back to the 1930s. Apart from a flourishing tourism industry, the most powerful engine behind the country's economy is financial services, which account for about 15 to 20 percent of its GDP. The Bahamas maintains a sophisticated financial industry. It's home to more than 270 licensed banks and trust services providers, including seven of the world's top eight private banks and 35 of the top 100 global banks. As the country constantly upgrades its...

EXPERT INSIGHTS 2020

1. What is the single most important advantage your jurisdiction provides for Chinese clients? We are at the crossroads of the Americas. We are located 60 miles off the coast of Florida, USA, so any clients wanting to have a corporate structure located in the Bahamas can take advantage of our unique location and capitalize on the advantages of trading in the North and South American markets within the same time zone as New York. The Bahamas offers a favorable location for ownership of intangible assets, and the operation of corporate offices and businesses involved in international trade. 2. What is...

2015

What are the advantages of The Bahamas as a jurisdiction in terms of privacy & asset protection for a Chinese HNWI or Family (etc.) looking to succeed/protect their assets to the next generation? For more than 80 years The Bahamas has focused on wealth management.  This focus has been bolstered by our robust laws.  With respect to asset protection, Bahamas law is without peer.  There is a 2 year limitation of time in which dispositions can be challenged on the basis that it was designed to defeat creditors.  After that time, the disposition cannot be challenged on that basis.  Further,...

CORPORATE & FIDUCIARY JURISDICTION 2015

What is unique in your jurisdiction and why Chinese investors should form companies there? The Bahamas is a politically and economically stable country that has legislation enacted specifically to protect the assets of international clients and encourage foreign investors. This is reflected in the fact that there are no taxes on income, profits and distributions of the assets of foreign clients. In addition, Chinese investors will benefit from a swift incorporation rate and will be exempt from exchange control regulation. What makes your jurisdiction different from other competitors for Chinese investors? The Bahamas is strategically located 65 miles off the...

CORPORATE & FIDUCIARY JURISDICTION 2014

The Bahamas became independent from the UK in 1973, although the Queen remains Head of State. Beginning 50 miles off Florida, in the Caribbean, the Bahamas has 700 islands and a population of just over 350,000. The official language is English. The capital is Nassau, there are a number of international airports with good connections, and there are excellent port facilities. The climate is sub-tropical. The Westminster-style government is business-friendly. In May 2012, voters ousted Prime Minister Hubert Ingraham's Free National Movement Party, with 29 of the 38 House of Assembly seats going to the Progressive Liberal Party led by...

JURISDICTION 2014

By Leo Zhang. As one of the most prosperous and richest countries in the Caribbean region, The Bahamas has a long history of offshore finance dating back to the 1930s. Apart from a flourishing tourism industry, the most powerful engine behind the country's economy is financial services, which account for about 15 to 20 percent of its GDP. The Bahamas maintains a sophisticated financial industry. It's home to more than 270 licensed banks and trust services providers, including seven of the world's top eight private banks and 35 of the top 100 global banks. As the country constantly upgrades its...

CORPORATE & FIDUCIARY OVERVIEW - EXECUTIVE SUMMARY 2014