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Bahamas Banks Are A Great Offshore Option

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In the last couple of decades or so, Bahamas has without a doubt emerged as one of the most favorable offshore banking destination for the rich and the successful, especially for those that are based out of the US.

bahamas-banks.jpg

Why is it so then? Why do so many people now prefer Bahamas to traditional destinations like Switzerland, Cayman Islands or Panama? There are a number of reasons why.

Easy access
Even the official website of the country proudly claims that there is no better place for your financial investments and only once you deal with banking institutions in the islands, do you realize how true that is. For those people who are unaware about how to go about creating an offshore account, their Prime Minister’s office has even created a separate organization, the Bahamian Investment Authority, whose sole purpose is to help potential investors, the right option in the country.

The fact is that you do not even need to visit the country to establish an offshore banking account over there. All it takes is a bunch of require documents and the necessary fees that are required to be paid. It really is as simple as that. If you want assurances then this can be done in person as well and the process is as easy even then as it is from a distance.

bahamas-banks-1.jpg

The culture

Until 1973, Bahamas was a British colony and there is still a huge British influence in place here, particularly in the tongue that is spoken which is English. This makes it very easy for an English speaking investor to stash his money on the island. The people are friendly and even the location of the islands; just off the coast of the US is just perfect. To facilitate easy travel, Bahamas has six international airports and there is no limit to the amount of foreign currency a person can bring into the country.

After tourism, financial services is the second biggest industry in the Bahamas and 400+ from as many as 36 different countries in the world conduct business operations in the Bahamas, holding more than $220 billion in assets, making Bahamas the 13th best banking nation in the world. Quite an achievement for such a small country.

Friendly laws
The fact that banking is the second most important revenue generator for Bahamas, they take it very seriously. There is no red tape system in place here. From opening an account to making transactions to protecting your privacy from prying eyes, The Bahamian finance professionals take this very seriously.

Besides there is no need for you to pay Income tax, tax on capital gains or inheritance tax on the funds that you have stored in a Bahamian bank. The strict secrecy laws in place that neither is anyone able to obtain even the tiniest bit of information about your account.

Most of all, the fact that you are able to save your hard earned money in an economically and politically stable country is the biggest assurance that Bahamas is the best place to look for an offshore banking solution.
 

Admin

Forum Moderator
Staff member
Elite Member
Would say if you have the money open an account in both Belize and the Bahamas!
I totally agree with you. In todays world it's good to have several options rather than getting limited to one option!
 

myshufflemix

Mentor Group Gold
Can someone elaborate on the privacy part of the Bahamas company formation? I mean, what privacy are we offered when incorporating our business in the Bahamas?
 

RamsayB

Active Member
I've only heard Bahamas as one of the best tourist spot destination in the world. Having them emerging as one of the best countries in Offshoring is a very good news
 

hofo

Active Member
According to my personal experience from not long time ago it's pretty easy to get an account opened there if you have all the documents available. The business I applied for with the bank was straight mainstream business.
Okay so it's similar to mine. I will try to give it a shot and hope they will accept me as an client.
 

uplana

Corporate Services
Mentor Group Gold
I'm not familiar with banking in Bahamas but it looks attractive to me.

I'm looking at these guys:
Cornèr Bank (Overseas) Limited
View attachment 349
308, East Bay Street
P.O. Box N-7134
Nassau/The Bahamas

Tel. + 1 242 394 4977
Fax + 1 242 394 5264

Cornèr Bank Group
e-mail: [email protected]
Do you have any idea if the Bahamas is a great offshore jurisdiction in regards to privacy? How about tax exchange agreements with the rest of the world? Are they to comply with the USA or do they have their own regulations?
 

uplana

Corporate Services
Mentor Group Gold
How easy is banking in Bahamas? I need an good stable offshore account for my not yet registered Seychelles offshore company.
Banking in Bahamas is difficult when you ask one of the offshore agents that are located in the Bahamas! They almost don't approve any bank accounts!
 

negon

hannibal the cannibal
BANNED MEMBER
Bahamas is regulated under the USA for that reason personally I would not incorporate my business there or use them for any asset protection or tax planning
 

maxmoney

Mentor Group Gold
Does that mean they have only one bank there that will allow remote account opening? who knows about banking in Bahamas and what banks we can open accounts with?
 
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