The Bahamas Advantage
It is not by chance that The Bahamas is the most successful international financial centre in the Caribbean today. More than 80 years of thought, effort and co-operation have produced ideal conditions for (Ultra) High Net Worth individuals, families and businesses to manage their wealth efficiently in comfort and style.
The country’s mature financial services industry, established infrastructure, progressive government, tax neutral environment and luxury lifestyle have all been carefully cultivated to satisfy the specific needs of the most exclusive clientele and provide the jurisdiction with business and lifestyle advantages that few can match.
- Advantage 1 – Strategic Location The Bahamas is situated at the Crossroads of the Americas, just 65 miles off the east coast of Florida. An ideal hub for regional investment and business in the Eastern United States and Canada, and much of Central and South America, it is in the same time zone as New York, Miami and Toronto, so office hours align with most of the major business centres in the Americas.
- Advantage 2 – Wealth and Asset Management Options The Bahamas offer owners of capital a broad choice of financial institutions that deliver myriad services including banking, private banking and trust services, investment fund administration, capital markets, investment advisory services, accounting and legal services, e-commerce, insurance and corporate and shipping registries. The Bahamas is a favourable jurisdiction for the establishment of family offices, which help wealthy families achieve their goals while dealing with increased regulations, and complex issues of taxation, distribution planning and charitable giving.
- Advantage 3 – Physical Resources The Bahamas has developed its land, premises and fit-for-purpose infrastructure with the singular focus of facilitating international business. The Bahamas is easy to get to, with six major airports and 49 other airports situated throughout the archipelago, as well as countless ports of entry and marinas that can accommodate the largest yachts.
- Advantage 4 – Human Capital The Bahamas has a highly educated local workforce and a long tenure in financial services excellence which has created a deep pool of skill and experience that is recognized and trusted worldwide. With more than 6000 experienced financial professionals committed to the local community, clients can expect to build deeper and more lasting relationships and receive more consistent service in The Bahamas than in locations largely dependent upon imported skills.
- Advantage 5 – Taxation The Bahamas remains committed to a tax neutral platform upon which international persons and entities receive the same tax benefits as Bahamians. This includes no income, capital gains and inheritance taxes for all who conduct business or reside in The Bahamas.
- Advantage 6 – Investment Policy and Incentives The Bahamas’ government is committed to building an economic environment in which free enterprise can flourish. The National Investment Policy is designed to support an investment friendly climate and complements Bahamian and overseas investments.
- Advantage 7 – Political and Economic Stability The Bahamas has an outstanding record of political and economic stability, progress and stewardship. An independent nation since 1973 The Bahamas prospers from more than 280 years of uninterrupted parliamentary democracy.
- Advantage 8 – Regulation The Bahamas encourages the growth of its financial sector through adherence to internationally accepted regulatory principles, and efficiency in their administration. Regulatory independence is maintained through the separation of roles of policy makers and regulators.
- Advantage 9 – Public-Private Sector Partnership Government and business interests in The Bahamas act in close partnership to respond to market needs and at the same time adhere to international standards.
- Advantage 10 – Permanent Residency Opportunities The Bahamas has a liberal process for granting Economic Permanent Residency (EPR) that makes it easier for individuals to “follow their money” with respect to where they live and work. Persons with permanent residence are for all intents and purposes treated like Bahamians, except for the right to vote.
- Advantage 11 – Work Permits and Immigration The Bahamas has a flexible immigration policy which encourages companies to develop Bahamian talent but recognizes the needs of international firms, individuals and families to recruit additional human resources abroad.
- Advantage 12 – Lifestyle The Bahamas is located in one of the most idyllic tropical settings in the world and has many attractive features for those who may wish to relocate permanently or establish a second home. To meet the diverse and sophisticated tastes of travelers and residents alike, The Bahamas offers something to suit every taste: rest and relaxation, family fun and entertainment, or adventure and exploration. With miles of natural sand beaches, out-door attractions, luxury resorts, golf, casinos, restaurants and shopping, there is no shortage of exciting things to do.
All of these advantages may be summed up very simply: The Bahamas is committed to growth and development of its natural resources and cultivated assets to create an environment that supports business and the enjoyment of life in equal measure. Individuals, companies and family offices will all find a warm welcome when they come to The Bahamas.