Bahamas Offshore Banking Info and TipsBahamas offshore banking is going strong and perfectly legal as long as you keep things on the up and up with the tax authorities in your home country.One of the coolest things about the Bahamas is that there is no income tax, capital gains tax, gift tax, inheritance tax, or withholding tax. The reason the country can afford to be so lenient with taxes is because most of their revenue comes from duties levied on imported goods. The Bahamas is close to the USA, is an English speaking country, a democratic government, and models its Judiciary system off the United Kingdom.
If you plan on retiring in the Bahamas or living there part time, having a Bahamas bank account is essential for convenience and ease of ATM usage and fast access to your cash. Some of the banks on most of the more populated Bahamas islands are: the Royal Bank of Canada, Scotia Bank, First Caribbean International Bank and the Central Bank of the Bahamas.
Incorporating in the Bahamas is relatively straightforward, although I would suggest using both a Bahamas attorney and an attorney from your home country, just to make sure you have all the bases covered. Return From Bahamas Offshore Banking To Bahamatopia Home |
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