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Home > Offshore Jurisdictions > Bahamas
Bahamas Offshore Company FormationThe Commonwealth of the Bahamas is an archipelago of about 700 islands and 2,000 cays, which extend in an arc from about 80km east of Palm Beach, Florida to just north of Haiti. The capital and financial centre is Nassau on the island of New Providence. Originally a British Colony, the Bahamas gained its independence in 1973. It is a fully independent country within the Commonwealth. It is ruled by a 49 member House of Assembly and a 16-member senate headed by an elected Prime Minister. The Head of State, responsible for external affairs, defence and internal security is a Governor General appointed by the British Government. Bahamas Financial Services The Bahamas dollar is at parity with the United States dollar. There are exchange controls but they apply to residents only. There are no income, capital gains or estate taxes and no double taxation treaties. The legal system is based on English Common Law and the principal corporate legislation is the International Business Companies Act 2000. A company formed under the International Business Act 2000 may not trade within the Bahamas or own real estate there. It may not engage in banking, insurance, fund management business or provide the services of forming and managing trusts and companies.
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