LXP ranked top for Offshore Trusts in Chambers High Net Worth Guide 2022
Lennox Paton has been awarded a Band 1 ranking in the Chambers High Net...
The Bahamas is a highly respected international financial and tourism centre comprising over 700 islands stretching from Florida to Hispaniola. The Bahamas benefits from a spectacular natural beauty and climate, close proximity to the US, and an advanced travel infrastructure with direct flights available to numerous destinations in the US, Canada, the UK and continental Europe.
With low fees and competitive rates available on company and fiduciary services, The Bahamas is a leading offshore jurisdiction. It offers sophisticated structures, including international business companies, foundations, trusts, private investment funds and limited partnerships, administered by a highly qualified financial community. The Bahamas is tax neutral, with no income, capital gains, estate or inheritance taxes, and no withholding tax on dividends or interest. Client confidentiality is protected by both statute and common law principles.
Tourism is the largest sector of the Bahamian economy. A wealth of beautiful locations throughout the islands, legislation promoting foreign investment and developer-friendly governments, also make The Bahamas a prime location for resort development. In addition, the availability of residency licenses and tax neutral status makes The Bahamas is a popular choice of domicile for discerning ultra-high net worth individuals.
The Bahamas has been a stable parliamentary democracy for over 275 years, and an independent country since 1973. As a former colony of the UK, the legal system of The Bahamas is based on that of England and Wales. The Privy Council in London remains the highest Court of Appeal. The Bahamas has a modern and business friendly legislative and regulatory regime.