Bahamas is group of islands in the Atlantic Ocean near Florida with the capital Nassau and is one of the most popular, secure and successful offshore banking centers worldwide.
In addition to being one of the most attractive tourist destinations Bahamas has been a secure offshore banking center for several decades. Bahamas has been promoted as the best tax haven for offshore bank accounts, where flow of foreign exchange is free and deposits are not taxed. The legislation of offshore banking Bahamas allows establishment of international business companies and provision of offshore banking services for them. International investment in Bahamas has been very intensive and providing financial services to international business creates over 15% of GDP of Bahamas.
Offshore banking Bahamas brings a lot of convenience. Benefits offered by offshore banks are flexibility and easy accessibility of funds. Having a bank account at a bank in Bahamas does not mean that account owners have to travel there every time to make simple transaction like transferring money, withdrawing or depositing funds. First of all, offshore banking Bahamas offer offshore banking online – a convenient way to access personal or business accounts through Internet. Secondly they provide offshore debit and offshore credit cards to their clients that allow withdrawing and depositing funds through automated teller machines. In addition, important documents are mailed to the address specified by the client. Offshore bank account is managed in the similar way like an onshore bank account, only in this case, this is done Offshore Banking Bahamas through the Internet, mail, or phone instructions.
Bahamas bank accounts enjoy tax-free status and income is exempted from the taxes. In Bahamas, personal income is tax exempt, there is no capital gains tax, profit tax, sales tax, estate or inheritance tax. In addition no tax is levied on corporate dividends as well. Keeping money in offshore bank account places it out of reach of levies from law suits. This makes Bahamas very attractive for individuals and legal persons.
In general offshore banking institutions of Bahamas offer much lower service charges and much higher interest rates on deposits than banks in any other offshore jurisdictions. They also permit their customers to make transactions in world’s major currencies and be charged under considerably lower rates than onshore banks would have charged. Offshore bank accounts enjoy absolute freedom to transfer, deposit or spent available funds. Individuals and companies that require free environment Bahamas can be a perfect place to set up business entity.
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