The Bahamas

The Bahamas comprise an archipelago of about 700 islands, roughly 50 miles south-east of Florida, in the Atlantic. Only 30 of the islands are inhabited.The two largest islands are New Providence and Grand Bahama; smaller islands include Andros, Eleuthera and Great Abaco.The time zone is 5 hours behind GMT, i.e. US Eastern Standard Time.

Factfile

Area: 13,939 sq km(5,382 sq miles)

Languages: English; some Creole amongst Haitian groups

Currency: Bahamian Dollar (BSD), $1BSD = $1US (June 2008), $1.95BSD to the
British Pound (June 2008)
Head of State: HM The Queen Of England
Legal system: English Common Law

Tax Regime: In the Bahamas there are no taxes on profits, dividends or income; there is no capital gains tax, no withholding tax and no sales tax. The taxes impinging on companies are business license fees, stamp duty, property taxes and import duty. Most offshore or non-resident entities are exempt from business license fees and many are exempt from stamp duty. Corporate entities pay incorporation or registration fees to the Government.

Business structures: Annuities, Captive Insurance, International Business Companies,
Trusts, Limited Partnerships, Limited Liability Companies and Private Investment Funds.

Tax Treaties: none