When considering an offshore financial centre, one should consider carefully the following elements:
- political stability
- fiscally attractive
- confidentiality
- modern laws conducive to business
- professional infrastructure
- good communications
The Bahamas satisfies all of the above criteria. The Bahamas is a parliamentary democracy styled on the Westminster Parliament and its legal system is patterned on that of Britain.
Although still a member of the British Commonwealth, The Bahamas has been independent since 1973. The government encourages foreign investment and discourages bureaucratic intervention into foreign investors’ affairs.
The Bahamas enjoys complete tax immunity. There are no income, sales, capital gains, withholding, gift or inheritance taxes levied in The Bahamas on either residents or nonresidents. The government relies primarily on customs duties and licence fees for its general revenues.
