PreviousWhy invest in The Bahamas?
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Why invest in The Bahamas?
Innovation and stability
Preserving capital, rather than generating big profits, has become an increasingly important aspect of managing wealth, given today’s economic climate.
Although The Bahamas is hard-wired to the global economy, it continues to hold its own as an investment centre. The country’s political and economic stability and lighter tax burden, not to mention its subtropical climate, continue to make it an attractive location.
The Bahamas has been a stable democracy for 300 years, with a legislative and judicial structure modeled closely on that of Great Britain. Since gaining its independence in 1973, The Bahamas has developed into a steadily growing nation with a thriving economy.
Legislation favourable to business continues to attract investors to The Bahamas. Among other things, companies and individuals pay no Bahamian taxes on personal income, capital gains, corporate earnings, sales, inherited assets and dividends. The Bahamas also allows the swift repatriation of foreign investment funds, foreign assets and dividends as well as profits from direct investment.
A wealth of options is available to investors who want to protect and grow their money, including mutual funds, trusts and foundations. A comprehensive infrastructure exists to help them manage their assets, with fund administration, advisory services and accounting and legal services readily available.
About 4,900 professionals are employed in the banking sector, which includes more than 250 banks and trust companies, according to the Bahamas Financial Services Board. Among them are 125 subsidiaries of financial institutions headquartered elsewhere, such as the US and Europe. These Bahamian institutions manage about 700 funds, with total assets of $100 billion.
The Bahamas’ ability to compete in the global market is strengthened by its proximity to the US (a mere 50 miles away at one point) and by the government’s recent decision to participate in international trade agreements.
The Bahamas also shares a time zone with the major US financial centres, and the Bahamian dollar is on par with the US dollar, both of which may be used interchangeably in the islands. This makes accessing funds and processing transactions much easier.
To find out more about investment opportunities in The Bahamas, pick up the current issue of The Bahamas Investor, the country’s leading source of business information.
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