The Bahamas Continues to Introduce Market Driven Legislation

In The Bahamas, new legislation continues to be introduced to stimulate further growth and development of the country's well-established financial services sector.

A Purpose Trust Act, a Segregated Accounts Companies Act, enhancements to the International Business Companies Act and amendments to the Perpetuities Act have all been enacted and represent the latest initiatives in what has become a busy period for legislative developments in The Bahamas. In addition, Bahamas foundations will be available in September.

This new legislation combined with recent Investment Funds and E-Commerce Acts embody a legislative direction that is market driven but at the same time recognises international standards.