Your Guide to Foundations in The Bahamas - Part 1

Originally published October 2005

The Bahamas is the first premier Common Law jurisdiction to introduce Foundations. Wendy Warren, CEO & Executive Director of the Bahamas Financial Services Board, says that in launching its Guide to Foundations, The Bahamas as a Common Law country has looked beyond its boundaries and traditions to be of greater relevance for estate planning by persons from civil law countries. This bold move is consistent with The Bahamas’ long history of establishing legislation that is attractive to international clientele and which encourages the continued growth of the country’s financial services sector.

Foundations, introduced in December 2004, has served to complement and enhance the vibrant wealth management industry in The Bahamas. The Foundations Guide provides a useful overview of the recently enacted legislation while a digital Foundations Review provides detailed examination of the legislation. Practitioners indicate that the establishment of