General Overview. A rapid development of the Bahamas as an offshore financial centre has started at the end of 80th of the XX century, even though it was one of the first offshore jurisdictions where offshore trusts could be established. The Bahamas follow international laws and regulations, in terms of efficient anti-money laundering procedures. The jurisdiction is internationally considered as one of the most developed offshore countries, thanks to its political and economic stability, attractive taxation regime, geographic location and efficient regulations.

Banking Sector. Banking regulations in the Bahamas adhere to international standards, where the Central Bank supervision has increased following the OECD recommendations.  Private banking sector is the dominating part of the offshore banking industry in the Bahamas, which is attractive to international investors thanks to strong secrecy provisions and asset protection opportunities.

Trusts. Bahamas is one of the most popular jurisdictions for establishing offshore trusts, which are now being used not only by common law countries representatives for wealth management and tax optimization purposes. In order to become a trustee, a company must obtain a relative governmental license. Only a trust which holds a property within the Bahamas must be registered. A trust may have a protector.

Holding Companies. A Bahamian company is often established together with corporations of other countries for the purposes of holding proceeds of investments and trading in a tax-effective and politically stable environment. Therefore, offshore holding company formation in the Bahamas is a cost-effective solution for international businesses.

Insurance Companies. At present international captive insurance sector is not well developed in the Bahamas, even though there are many local insurance companies. A number of reforms have been recently introduced with the aim to improve international insurance market segment.

Investment Funds. Fund management sector is well developed in the Bahamas, which offers favourable and at the same time efficient offshore investment fund management environment and regulations.

Ship Registry. The Bahamas is one of the biggest offshore shipping registries, where more than 1,500 vessels of different sizes and types are registered.